Nick Beams - IMF Warning On Global Downturn

The International Monetary Fund (IMF) has added its voice to those of the World Bank and the United Nations in warning of a global slowdown and increased financial risks flowing from the eurozone crisis.

Revising its forecast for global growth in 2012 to 3.3 percent—0.7 percentage points lower than its September forecast—and warning of outright recession in Europe, the IMF said world recovery was threatened by “intensifying strains in the euro area and fragilities elsewhere.” Growth began to decline in the fourth quarter of 2011 “as the euro crisis entered a perilous new phase.”

While there had been higher than expected growth in the advanced economies, these developments were not expected to sustain significant momentum. In view of the often repeated claim that “emerging markets” will provide the basis for a new expansion of the world economy, the IMF’s comments on these regions were particularly significant.

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http://countercurrents.org/beams250112.htm

Ellen Brown - Why All the Robo-Signing? Shining a Light on the Shadow Banking System

The Wall Street Journal reported [6] on January 19 that the Obama administration was pushing heavily to get the 50 state attorneys general to agree to a settlement with five major banks in the "robo-signing" scandal. The scandal involves employees signing names not their own, under titles they did not really have, attesting to the veracity of documents they had not really reviewed. Investigation is revealing that it did not just happen occasionally, but was an industry-wide practice, dating back to the late 1990s; and that it may have clouded the titles of millions of homes. If the settlement is agreed to, it will let Wall Street bankers off the hook for crimes that would land the rest of us in jail - fraud, forgery, securities violations and tax evasion.

To the president's credit, however, he seems to have shifted his position on the settlement in response to protests before his State of the Union address. In his speech on January 24, President Obama did not mention the settlement, but announced instead that he would be creating a mortgage crisis unit to investigate wrongdoing related to real estate lending. "This new unit will hold accountable those who broke the law, speed assistance to homeowners and help turn the page on an era of recklessness that hurt so many Americans," he said.

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http://www.truth-out.org/why-all-robo-signing-shining-light-shadow-banking-system/1327502824

Paul Buchheit - The Pathology of Inequality

Inequality is a disease of society, a cancer growing out of control at one end of the body while the rest of it withers away. It's not just about the money, although income and wealth inequality have never been worse in the United States. It's also the pathological adherence to free market principles that have not worked for most of the country. And a bizarre idolization of the 'innovators' who have rigged the financial system in their favor

High-priced schemers and swindlers and scoundrels roam free on Wall Street, while the downtrodden are condemned for trying to survive. "If you steal $10 from a man's wallet," observed former Secretary of the Interior Walter Hickel, "you're likely to get into a fight, but if you steal billions from the the commons, co-owned by him and his descendants, he may not even notice."

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http://www.commondreams.org/view/2012/01/25-8

Chris Hedges - The Cancer in Occupy

The Black Bloc anarchists, who have been active on the streets in Oakland and other cities, are the cancer of the Occupy movement. The presence of Black Bloc anarchists—so named because they dress in black, obscure their faces, move as a unified mass, seek physical confrontations with police and destroy property—is a gift from heaven to the security and surveillance state. The Occupy encampments in various cities were shut down precisely because they were nonviolent. They were shut down because the state realized the potential of their broad appeal even to those within the systems of power. They were shut down because they articulated a truth about our economic and political system that cut across political and cultural lines. And they were shut down because they were places mothers and fathers with strollers felt safe.

Black Bloc adherents detest those of us on the organized left and seek, quite consciously, to take away our tools of empowerment. They confuse acts of petty vandalism and a repellent cynicism with revolution. The real enemies, they argue, are not the corporate capitalists, but their collaborators among the unions, workers’ movements, radical intellectuals, environmental activists and populist movements such as the Zapatistas. Any group that seeks to rebuild social structures, especially through nonviolent acts of civil disobedience, rather than physically destroy, becomes, in the eyes of Black Bloc anarchists, the enemy. Black Bloc anarchists spend most of their fury not on the architects of the North American Free Trade Agreement (NAFTA) or globalism, but on those, such as the Zapatistas, who respond to the problem. It is a grotesque inversion of value systems.

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http://www.truthdig.com/report/item/the_cancer_of_occupy_20120206/

Pam Martens - Wall Street’s Secret Spy Center, Run for the 1% by NYPD

On September 25, 2011, just eight days after the Occupy Wall Street protests began in Zuccotti Park in lower Manhattan, the much acclaimed CBS News program, 60 Minutes, aired a fawning look at the thousands of surveillance cameras affixed to buildings and lampposts throughout New York City.  The cameras feed live images of people going about their everyday lives to a $150 million computer center equipped with artificial intelligence to integrate and analyze the daily habits of what are, for the most part, law-abiding Americans.

The thrust of the 60 Minutes  program was the fine job of counter terrorism being done by the NYPD and its Commissioner, Raymond Kelly. It was a triumph in public relations for a police department about to go on an assault spree –  pepper spraying and punching  peaceful protestors;  kicking, ramming and arresting journalists attempting to cover the Occupy Wall Street demonstrations.

On air, the reporter, Scott Pelley, said the surveillance center was “housed in a secret location,”  as one would expect of a real counter terrorism program — as opposed to a program to simply quash dissent.  Mr. Pelley also said the program was run by the NYPD.  As it turns out, neither of those assertions were accurate.

Read More:

http://www.counterpunch.org/2012/02/06/wall-streets-secret-spy-center-run-for-the-1-by-nypd/