USA

As previously reported, both the New York Times and CanWest Global have been facing steep economic challenges recently.

The Times has been thrown a lifeline by Carlos Slim Helu, the Mexican Communications Billionaire who's loaning them $250 million to help them cope with the $l.1 billion in debts they already have.

Things however, seem to have gotten a whole lot worse for CanWest. David Beers, editor-in-chief at the Tyee, managed to get an internal memo from CanWest about 'cost containment'.

It's seems everything is being cut at the chain including:

A freeze on all hiring,
A freeze on salaries,
A freeze on meals, catering and entertainment expenses,
Ceasing engagements with external consultants,
A freeze on conference/seminar attendance,
Equipment expense and capital purchase delays,
Limiting the use of mobile devices by 20-25%,
Reducing energy usage.

It seems the New York Times could no longer be in circulation as soon as May. According to The Atlantic:

Earnings reports released by the New York Times Company in October indicate that drastic measures will have to be taken over the next five months or the paper will default on some $400 million in debt. With more than $1billion in debt already on the books, only $46million in cash reserves as of October, and no clear way to tap into the capital markets (the company’s debt was recently reduced to junk status), the paper’s future doesn’t look good.

Things are not much better for Canwest, which Jen & Fitz report has a:

High debt load of $3.6 billion, falling ad revenues for Canadian newspapers and broadcasters, and precipitously falling value of Australian TV stations it might try to sell to raise cash.

Could be ripe timing for some other kind of alternative media giant to emerge...

Al Giordano: If Obama wins, what next?

What will become of 10,000-plus (mostly) young organizers earning their subsistence keep working on this campaign after Election Day?

They've been trained well in the resurrected art of community organizing. It would be a shame if they just up and went to grad school instead of applying their new trade. How do we help make sure they don't scatter to the wind and can instead continue harnessing it in harmony with the new political majority about to emerge?

The anti-terrorist battle inside Canada's borders
by David Parker
July 17th, 2008.

HALIFAX - In Canada since 9/11, the domestic climate of rising national security fears, fanned by a sensationalist media trumpeting the “War on Terror”, has led the government to justify practices which undermine long-standing principles of human rights.

In December 2001, Canada passed the Anti-Terrorist Act (ATA) to deal with threats to national security. The ATA makes changes to the criminal code that “aim to disable and dismantle the activities of terrorist groups and those who support them”. It destroys civil liberties and gives police vast new powers, eroding due process and privacy. [1]

According to Gary Kinsman, professor at Laurentian University, the concept of ‘national security’ is doubly problematic. Nation refers here to groups who fit the image of the Canadian state - white heterosexual males, construed as ‘safe’, while racialized communities are excluded as ‘outsiders’ and enemies of the state. [2] Despite purported concern with security, state initiatives have only endangered non-citizens and criminalized legitimate social protest.

The arrest of 21 South Asian Muslim men for allegedly plotting to blow up a nuclear reactor in 2003 (known as Project Thread) garnered wide media attention. All were eventually deported on minor immigration charges, not one was charged with a terrorist offence [3]. They were detained up to 5 months, interrogated about their faith and threatened with deportation to Guantanamo Bay, infamous torture camp of the United States, where Omar Khadr, youngest detainee and Canadian citizen, remains after 6 years, subjected to torture methods detailed in leaked FBI files [4].

The 3rd Infantry Division’s 1st Brigade Combat Team has been deployed to streets in the US. Amy Goodman has an excellent piece about the underreported shift of US soldiers from Iraq to US streets.

In December 2001, in the midst of restricted access to bank accounts due to a financial crisis, respectable, middle-class Argentines rose up, took to the streets, smashed bank windows and ultimately forced the government out of power, despite a massive police crackdown and a failed attempt to control the media. Here in the U.S., with the prospect of a complete failure of our financial system, the people have spoken and do not want an unprecedented act of corporate welfare. We don’t know how close the system is to collapse, nor do we know how close the people are to taking to the streets. The creation of an active-duty military force, the sea-smurfs, that could be used to suppress public protest here at home is a very bad sign.

Nouriel Roubini, one of the economists who successfully predicted the subprime crisis years ago, has been allowing full access for the time being to his blog: RGE Monitor.

Roubini, once considered a perma-bear (a perpetual pessamist about the economy) has recently looked at banking crises historically to find the best way to prevent a total economic meltdown.

Surprise, surprise, he found that the US $700 billion plan may not be the best way to go. Instead, he suggests that the way Scandinavian countries (Norway, Sweden, Finland) dealt with previous crises, may be the better method.

To understand how this works on a more understandable level, Planet Money, a spin-off of the award winning radio show This American Life has been putting out some great radio about the credit crisis and solutions.

Dear Friends, Family, and Comrades:
We are the RNC 8: individuals targeted because of our political beliefs and work organizing for protests at the 2008 Republican National Convention, in what appears to be the first use of Minnesota’s version of the US Patriot Act. The 8 of us are currently charged with Conspiracy to Commit Riot in Furtherance of Terrorism, a 2nd degree felony that carries the possibility of several years in prison. We are writing to let you know about our situation, to ask for support, and to offer words of hope.

A little background: the RNC Welcoming Committee was a group formed in late 2006 upon hearing that the 2008 Republican National Convention would be descending on Minneapolis-St. Paul where we live, work, and build community. The Welcoming Committee’s purpose was to serve as an anarchist/anti-authoritarian organizing body, creating an informational and logistical framework for radical resistance to the RNC. We spent more than a year and a half doing outreach, facilitating meetings throughout the country, and networking folks of all political persuasions who shared a common interest in voicing dissent in the streets of St. Paul while the GOP’s machine chugged away inside the convention.
In mid-August the Welcoming Committee opened a “Convergence Center,”a space for protesters to gather, eat, share resources, and build networks of solidarity. On Friday, August 29th, 2008, as folks were finishing dinner and sitting down to a movie the Ramsey County Sheriff’s Department stormed in, guns drawn, ordering everyone to the ground. This evening raid resulted in seized property (mostly literature), and after being cuffed, searched, and IDed, the 60+individual inside were released.

In an election where debate over health care has been next to non-existent, an article in Embassy magazine slipped through the cracks.

In July, a group of 200 American investors, led by an Arizonan businessman, launched a $155 million lawsuit under the North American Free Trade Agreement against the Canadian government. They say the lawsuit is recourse for barriers they faced in trying to establish private health clinics in Canada.

The article points out that he medicare system is probably safe for now, since it is still primarily publicly run. But while this case may be dismissed, there will certainly be more to come. And if in the meantime more private health services are introduced in Canada, the next NAFTA challenge will be that much harder to fight.

(via Rabble's Election Blog)

This little gem of insanity was recently introduced by Republican Tom Tancredo.

The Jihad Prevention Act will, among other things, "require aliens to attest that they will not advocate installing a Sharia law system in the United States as a condition for admission."

It will also allow anyone advocating the installation of a Sharia Law system to have their visa and/or naturalization paper's revoked.

With the bankruptcy of Lehman Brothers, the sale of Merrill Lynch and the subsiqent transformation of Goldman Sachs and Morgan Stanley, the titans of Americas investment industry has now been wiped off the map.

How bad is it and what does it mean?

A couple of US Congress members who had a nice little chat with the US Fed Chairmen and the US Treasury Secretary had this to say last Friday:

"We’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally. Somber doesn’t begin to justify the words. We have never heard language like this."

But is it all a smoke-screen designed to give the Fed and Treasury complete control over bail-out money? According to economist Paul Krugman:

"Mr. Paulson insists that he wants a "clean" plan. "Clean," in this context, means a taxpayer-financed bailout with no strings attached — no quid pro quo on the part of those being bailed out. Why is that a good thing? Add to this the fact that Mr. Paulson is also demanding dictatorial authority, plus immunity from review "by any court of law or any administrative agency," and this adds up to an unacceptable proposal."

Many popular anti-capitalists are interviewed in the Guardian regarding their view on the current sub-prime crisis.

Chris Harman - Socialist Workers Party

"The whole system is unwinding; the other day we saw the biggest nationalisation in the history of humanity and that still wasn't enough.

"This could be a big moment for the left. But we really need to stand up and use the "c" word, say this is a crisis of capitalism and that people are suffering."

Sheila Rowbotham - Socialist feminist

"The problem now - unlike in the 1880s, when people discovered the ideas of socialism, and in the 1930s, when it seemed that communism was the solution - is that the left doesn't have a coherent alternative vision."

Hari Kunzru - Novelist

"In New York apparently, 12,000 jobs went, just like that, and Wall Street represents 20% of the city's jobs and something like 90% its tax base. So there's a definite sense here of systemic crisis.

"This will only genuinely become a crisis of capitalism if people generally become aware that much of the growth and prosperity produced by capitalism is a fiction."

First a series of mortgage companies. Then UK bank Northern Rock. Then Bear Sterns, followed by Fannie Mae and Freddie Mac.

Now another major US bank, Lehman Brothers, is about to crumble under the weight of disastrous decision making in the wake of the subprime mortgage crisis and ensuing credit crunch.

Lehman Brothers controls almost $700 billion in assets. According to the Guardian, the US authorities have authorized emergency trading of Lehman's shares should it file for bankruptcy.

Though the US bailouts of Bear Stearns, Fannie Mae and Freddie Mac were supposed to prevent a 'domino effect' of US banks collapsing, it appears banks are failing anyways.

Should Lehman Brothers, the fourth largest bank on Wall Street collapse "it will be one of the biggest failures in Wall Street history"...again.

Wonkette has this, uh, amusing take on Sarah Palin's first foreign policy gaffe:

To be fair, no one has any f-ing clue what to do about Russia, except that We Must Do Something To Stop Them. But when you’re asked in an interview under any circumstances whether we’ll have to go to War with Russia, you should never respond “Perhaps so,” BECAUSE WAR WITH RUSSIA WOULD BE THE WORST THING IMAGINABLE. It may be the logical outcome of all this NATO-expansion, rub-it-in-Russia’s-nose B.S. people throw around so willingly, but you’re not supposed to let anyone know that, Palin! Even John McCain — who would love nothing more than a full ground siege of f-ing Moscow, it would be the culmination of years of wet dreams — would not have said “Perhaps so”; he’d have something like, “not war, but we must contain the Czar.” And there would be no follow-ups because John McCain is a War Hero and honorable.

TRNN journalists charged with unlawful assembly

Documentary report by Real News team arrested along with 818 people during the RNC

The right to assembly

"I can do my part, by doing things like working really really hard to get a natural gas pipeline, about a $30 billion project that is going to create a lot of jobs for Alaskans, and we'll have a lot of energy flowing through here, and pray about that also. I think god's will has to be done in unifying people and companies to get that gas line built, so pray for that..." -Sarah Palin

Over $5 trillion in troubled mortgages have been taken over (read: nationalized) by the US government. Freddie Mac and Fannie Mae (the two largest mortgage providers in the US) have been put into "conservatorship" in order to stop them from collapsing.

This is the biggest government bailout in US history and comes on the heels of Royal Bank chief executive Gordon Nixon saying that the global financial system has been "pushed to the brink".

David Simon, executive producer and writer of HBO's The Wire, ruminates on Baltimore and the USA.

"Well, there are about 350 television shows about the affluent America, the comfortable America, the viable and cohesive nation where everyone gets what they want if they either work hard or know someone or have a pretty face or cheat like hell. That America is available every night, on every channel in the Comcast package.

For a brief time, there was one television drama about the other America."

From the Red Pepper Obama Blog:

The story of the left’s infatuation with Barack Obama follows an established storyline. So many hopes that "this time", things will be different: that Obama won’t be like Lula in Brazil in 2002 – who came to power on a Socialist platform only to bow to the power of global finance once in office; like Tony Blair in 1997, when a generation of progressives who’d grown up to hate Thatcher and the Tories could not but rejoice; the Green Party coming to power in Germany in 1998, where – no use in hiding it – I, too, had high hopes; the African National Congress in South Africa – backed by Communists, but soon a key driver of Neoliberalism in Southern Africa. So many hopes dashed. And yet, the infatuation continues…

Amy Goodman, Sharif Abdel Kouddous and Nicole Salazar from Democracy Now! were arrested today (September 1) at the Republican National Convention in St. Paul, Minnesota.

They are requesting that concerned journalists and citizens call Chris Rider from Mayor Coleman’s office at 651-266-8535 and the Ramsey County Jail at 651-266-9350 (press extension 0).

Coverage by Fox News of the protests outside the Democratic National Convention. The chanting that begins around 2:20 is particularly humorous...

Check it in comparison with Democracy Now's coverage of the same event yesterday!

Greetings from the 15th Indigenous Environmental Network gathering to Protect Mother Earth in Newe Segobia (Western Shoshone territory)!

LISTEN ONLINE LIVE HERE: http://www.earthcycles.net/
Info & program here: http://www.ienearth.org/

The first panel of the day - about mining & the extractive industries - is about to get started, with amazing speakers from all over, INCLUDING KI!!! There are 2 smaller workshops on mining today & a field trip tomorrow to Barrick Gold's Cortez gold mine, which is threatening to expand into Horse Canyon, one of the most important Western Shoshone sacred sited.

On that note, the photo is of the Havasupai (Grand Canyon area) delegation at the Longest Walk 2's arrival in DC, The Manifesto for Change, the Resolutions, and the 1978 Longest Walk Manifesto are all now posted as PDF files on the main Longest Walk site: www.longestwalk.org

I'll get more writing up on all these events & issues at some later date...

saludos,
Sandra