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?ick Harris (CC BY-SA 2.0)
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The governor of Michigan said Friday that the city of Detroit was in a state of “financial emergency” and announced that an independent overseer would be appointed to save it from collapse. However, the proposed solutions, which appear to consist mainly of spending cuts, inevitably mean more pain and suffering for Detroiters.
Posted on Mar 2, 2013
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Illustration by Mr. Fish
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By Chris Hedges — The ceaseless expansion of economic exploitation, the engine of global capitalism, has come to an end. Let’s not revive it.
Posted on Sep 10, 2012
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AP/Biswaranjan Rout
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By Chris Hedges — The giddy, money-drenched, choreographed carnival in Tampa and the one coming up in Charlotte divert us from the real world—the one steadily collapsing around us.
Posted on Sep 3, 2012
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AP / Jacques Brinon
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By Chris Hedges — The last people who should be in charge of our food supply or our social and political life, not to mention the welfare of sick children, are corporate capitalists and Wall Street speculators.
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AP / Mahesh Kumar A.
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By Chris Hedges — We seem condemned as a species to drive ourselves and our societies toward extinction, although this moment appears be the denouement to the whole sad show of settled, civilized life that began some 5,000 years ago.
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Flickr / hobvias sudoneighm (CC-BY)
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As the Salon scribe points out, it can be “quite difficult to really internalize” America’s superpower implosion, but the numbers don’t lie. Our life expectancy ranking is dropping like a rock, while we’re getting better and better at imprisoning, executing and selling guns to people. USA! USA!
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The Truthdig columnist begins this speech to the Veterans for Peace convention by saying, “Physical courage is something you see on a battlefield. Moral courage you almost never see.”
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Flickr / U-g-g-B-o-y-(-Photograph-World-Sense-)
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The 16 nations that use the euro have just revealed an aid package of up to $40 billion in an effort to stem the Greek financial crisis. Finance ministers see the offer as a “step of clarification” for markets and a boost for the faltering euro.
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Flickr / Randy83
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One day after the Dutch Cabinet collapsed, the country’s prime minister has announced that he expects the Netherlands to pull out all its troops from Afghanistan in August.
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AP / Mark Lennihan
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Recently disclosed internal documents and an audio recording regarding a 2008 securities standoff between Goldman Sachs and insurance giant AIG appear to be the smoking guns necessary to pinpoint Goldman’s culpability in the mortgage meltdown and the collapse of AIG.
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When civilizations collapse, mass hysteria ensues, often followed by cannibalism—a scenario familiar to the Republican Party, in which old friends are now turning on each other with reckless abandon.
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The New York Times / Doug Mills
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In an avowed effort to save capitalism from itself, President Bush announced Friday that he would throw the Big Three failing auto companies a $17.4 billion lifesaver, siphoning that money from the initial $700 billion bailout slush fund authorized by Congress in October.
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On Thursday night, Attorney General Michael Mukasey suddenly collapsed while making a speech at the Marriott Wardman Park Hotel in Washington, D.C. He was rushed to George Washington University Hospital for treatment.
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Flickr / pmarkham
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According to an AP review of more than 1,000 structures, just 12 percent of the nation’s most troubled and traveled bridges have been repaired since the deadly collapse of a Minneapolis bridge a year ago. There’s plenty of blame to go around, but most officials seem to agree that the money just isn’t there.
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As divers continue their search for bodies in the Mississippi River after Wednesday’s bridge collapse in Minneapolis, federal transportation officials are calling for a review of some 700 similar structures.
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A two-year study of the World Trade Center Towers’ collapse by Purdue University has reaffirmed the findings of the National Institute of Standards and Technology, which suggested that the buildings crashed under their own weight after crucial support columns and fireproofing were damaged or destroyed. The research team released an animation of the first plane’s collision to show how heat and flame eventually brought the towers down.
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Cullen Murphy joins Stephen Colbert to compare and contrast the American and Roman empires. For all the old empire’s glory, its rampant poverty, disease and corruption, combined with endless war, make for an unwelcome comparison.
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From cm.bell-labs.com
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If the rate of consumption of the Earth’s natural resources continues apace, two planets will be needed to meet global demand by 2050, warns the environmental group WWF.
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A journalist at The Times (of London) sums it up: “West Baghdad is no stranger to bombings and killings, but in the past few days all restraint has vanished in an orgy of ethnic cleansing.”
Posted on Jul 17, 2006
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The “smartest guys in the room” weren’t smart enough to avoid conviction on securities and wire fraud conspiracy charges in one of the biggest business scandals in U.S. history. After six days of deliberation, the jury rejected Ken Lay’s and Jeff Skilling’s testimony as lies.
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The energy company’s former CFO testifies that Ken Lay, the former CEO, lied about the company’s financial situation in the months before the company’s collapse.
Posted on Mar 9, 2006
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Bank of America Lied to Homeowners and Rewarded Foreclosures, Ex-Employees Say
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