Showing posts with label capitalism. Show all posts
Showing posts with label capitalism. Show all posts

Monday, November 23, 2009

Europeans Sour on American-Style Capitalism

TIME: French President Nicolas Sarkozy has spent the past year hammering away at the excesses of American-style capitalism. In September, European Commission President Jose Manuel Barroso declared that workers' rights and "social cohesion" were top priorities on the Old Continent. And Italy's veteran Economy Minister, Giulio Tremonti, went out of his way last month to praise the posto fisso (guaranteed job for life) as a supreme public value.

In certain European political and intellectual circles, such talk would hardly turn heads. But those three men wagging their fingers at the free market were thought to have their capitalist bona fides as part of a generation of European business and government leaders who had pushed for reforming the welfare system and opening up the job market. Often in open ideological war against the entrenched interests of labor unions and leftist politicians, the likes of Sarkozy and Tremonti had long insisted that free-market reforms were the only way to create a more dynamic Europe in an increasingly competitive globalized economy.

So how do we explain the fact that longtime Ronald Reagan admirers are suddenly starting to sound like a union activist's picket sign? Has the Great Recession of 2008-09 effectively sapped all the energy from Europe's post-1989 wave of economic neoliberalism? "Quite clearly, the state is back," notes Iain Begg, a professor of European political economy at the London School of Economics. "In front of the failures of the Anglo-American model, we are seeing a revival of Keynesian approaches to react to the crisis."

Of course, the ideas of John Maynard Keynes are also behind the auto-industry bailouts, new financial regulations and public investments pushed by the Obama Administration. The difference is both in the details and the big picture: not only do specific national economic policies in Europe tend to still trail those of the U.S. on the free-market curve, but there is also a lingering ingrained suspicion about capitalism itself. >>> Jeff Israely | Tuesday, November 17, 2009

Monday, November 09, 2009

The Berlin Wall Falls: November 9, 2009

YouTube video Special Report: Peter Jennings delivers "astonishing news" out of Germany >>>

Berlin Wall 1961 - 1989



Quand le mur est tombé : Aujourd’hui, l’Allemagne se souvient

LE TEMPS: Berlin fêtait avec éclat lundi le vingtième anniversaire de la chute du Mur, une page d’histoire qui sonnait la fin de la guerre froide et annonçait la réunification de l’Allemagne et de l’Europe.

La chancelière Angela Merkel a ouvert ce matin les célébrations en participant à un service religieux dans l’église de Gethsemani à Berlin-est, un des hauts lieux de la contestation et des manifestations qui ont contraint la RDA communiste à ouvrir ses frontières, le 9 novembre 1989.

Toute l’Europe est attendue au rendez-vous, avec les représentants des quatre puissances qui ont occupé l’Allemagne depuis la défaite en 1945 à sa réunification en 1990, Etats-Unis, Russie, Grande-Bretagne et France.

Les chefs d’Etats et de gouvernement se retrouveront dans la soirée avec une foule attendue de quelque 100.000 personnes à la Porte de Brandebourg, symbole de Berlin par où passait le «mur de la Honte» construit en 1961 pour empêcher les citoyens de RDA de passer à l’Ouest.

Le président russe Dmitri Medvedev participera aux célébrations comme le dernier dirigeant de l’Union soviétique, Mikhaïl Gorbatchev, qui décida de ne pas réprimer les mouvements de réformes et permis aux satellites de l’URSS de retrouver leur liberté.

La secrétaire d’Etat Hillary Clinton, qui représente les Etats-Unis, a appelé l’Europe et l’Amérique à de nouveaux efforts pour «renverser les murs» de l’intolérance religieuse.

«Le mur qui emprisonnait la moitié d’une ville, la moitié d’un pays, la moitié d’un continent a été emporté par la plus grande force qui soit – l’esprit indomptable d’hommes et de femmes», devait déclarer le Premier ministre britannique Gordon Brown dans un discours dont le texte a été diffusé à l’avance. >>> AFP | Lundi 09 Novembre 2009

Berlin fête ses vingt ans de liberté

Le mur de dominos, qui s'étend de la Potsdamer Platz à la rivère Spree, doit s'écrouler lundi soir, symbolisant l'ouverture démocratique et la liberté. Crédits photo : Le Figaro

LE FIGARO: La ville présente lundi soir un show médiatique planétaire.

Vingt ans après la chute du Mur, le centre de Berlin est de nouveau divisé. Dressée à l'endroit exact où s'élevait le mur de la honte, une barrière de dominos sépare la capitale allemande. Hautes de 2,50 mètres, les 1000 stèles multicolores, toutes décorées de motifs différents, sont alignées le long des édifices les plus symboliques de Berlin : la porte de Brandebourg, le Mémorial de l'Holocauste et le Reichstag, où siège le Parlement allemand.

Le mur de dominos, qui s'étire sur un 1,5 km de la Potsdamer Platz jusqu'à la rivière Spree, doit s'écrouler lundi soir, symbolisant ainsi l'effondrement de la dictature communiste, l'ouverture démocratique et la liberté. L'ancien président polonais Lech Walesa renversera le premier domino. «J'ai le mandat de le faire, la Pologne a ce mandat, car c'est en 1980, à Gdansk, que le premier mur était tombé, au cours des grèves des chantiers navals qui ont donné naissance à Solidarité, le premier syndicat indépendant du bloc communiste, a-t-il souligné. Nous avons vaincu le communisme, et les gens en Allemagne de l'Est ont commencé à fuir via les ambassades d'autres pays. Le mur de Berlin est tombé grâce aux fugitifs. Je m'inquiétais que le leader soviétique Mikhaïl Gorbatchev décide de stopper la fuite des masses et détruise ainsi notre victoire. Le jeu était dangereux. Il est bon que Gorbatchev ait été un homme politique faible et que tout se soit bien passé.»

Les dominos en polystyrène ont été peints par des écoliers à travers le monde, notamment là où des murs divisent toujours des peuples, comme en Israël et dans les Territoires palestiniens ou à Chypre. Mais aussi par des personnalités symbolisant le combat pour la liberté et la réconciliation, comme le Sud-Africain Nelson Mandela ou le chef d'orchestre israélo-argentin, Daniel Barenboïm.

Des dizaines de milliers de Berlinois et de touristes étrangers, venus assister à la «fête de la liberté», se photographient le long de ce mur symbolique et admirent les fresques.

Lundi soir, les organisateurs attendent des centaines de milliers de spectateurs le long du parcours. Daniel Barenboïm, qui avait donné un concert pour les Allemands de l'Est il y a vingt ans à la Philharmonie de Berlin, dirigera l'ouverture des festivités à la tête de la Staatskapelle. >>> Patrick Saint-Paul, correspondant du Figaro à Berlin | Lundi 09 Novembre 2009

Mauerfall Jubiläum: Die Welt schaut auf Berlin

ZEIT ONLINE: Ein wichtiger Tag für Deutschland: Zeitzeugen, Staatsgäste und Hunderttausende Menschen aus aller Welt feiern in Berlin den 20. Jahrestag des Mauerfalls.

Dort, wo einst die Mauer Berlin teilte, stehen am Montag farbenfrohe Dominosteine. Sie sollen am Abend fallen und so den Mauerfall vor 20 Jahren symbolisieren. Bild: Zeit Online


Deutschlandweit wird am Montag mit zahlreichen Veranstaltungen, Aktionen und Gedenkstunden der 20. Jahrestag des Mauerfalls gefeiert. Mittelpunkt der Feierlichkeiten ist Berlin, wo zahlreiche Gäste aus aller Welt erwartet werden. Doch auch im Ausland findet die Erinnerung an die friedliche Revolution in der DDR und den historischen Tag, der die Beendigung des Kalten Krieges und der Blockkonfrontation in der Welt einleitete, große Aufmerksamkeit.

Bundeskanzlerin Angela Merkel (CDU), Berlins Regierender Bürgermeister Klaus Wowereit (SPD) und Bundespräsident Horst Köhler treffen mit Staatsgästen und Zeitzeugen aus aller Welt zusammen – darunter US-Außenministerin Hillary Clinton, der britische Premier Gordon Brown, der französische Staatspräsident Nicolas Sarkozy, der ehemalige sowjetische Staatspräsident Michail Gorbatschow und der frühere Solidarnosc-Vorsitzende und spätere polnische Staatspräsident Lech Walesa.

Am Nachmittag wird Merkel gemeinsam mit Zeitzeugen und Politikern dort entlanggehen, wo sich einst der Grenzübergang Bornholmer Straße befand, der unter dem Druck der dort versammelten DDR-Bürger als erster in der Nacht des 9. November 1989 geöffnet wurde. Höhepunkt der Feierlichkeiten ist am Abend das "Fest der Freiheit" am Brandenburger Tor. >>> Von Matthias Schlegel und Andrea Dernbach | Montag, 09. November 2009

NZZ ONLINE: «Berlin hat eine Bedeutung für die ganze Welt» : Angela Merkel empfängt Hillary Clinton im Bundeskanzleramt>>> ap | Montag, 09. November 2009

NZZ ONLINE: «Deutsche Einheit ist noch nicht vollendet» : Merkel ruft zu weiterer Angleichung der Lebensverhältnisse auf>>> ap | Montag, 09. November 2009
Free Market Flawed, Says Survey

BBC: Twenty years after the fall of the Berlin Wall, a new BBC poll has found widespread dissatisfaction with free-market capitalism.

In the global poll for the BBC World Service, only 11% of those questioned across 27 countries said that it was working well.

Most thought regulation and reform of the capitalist system were necessary.

There were also sharp divisions around the world on whether the end of the Soviet Union was a good thing.

Economic regulation

In 1989, as the Berlin Wall fell, it was a victory for ordinary people across Eastern and Central Europe.

It also looked at the time like a crushing victory for free-market capitalism.

Twenty years on, this new global poll suggests confidence in free markets has taken heavy blows from the past 12 months of financial and economic crisis.

More than 29,000 people in 27 countries were questioned. In only two countries, the United States and Pakistan, did more than one in five people feel that capitalism works well as it stands.

Almost a quarter - 23% of those who responded - feel it is fatally flawed. That is the view of 43% in France, 38% in Mexico and 35% in Brazil.

And there is very strong support around the world for governments to distribute wealth more evenly. That is backed by majorities in 22 of the 27 countries.

If there is one issue where a global consensus seems to emerge from the survey it is this: there are majorities almost everywhere wanting government to be more active in regulating business. >>> James Robbins | Monday, November 09, 2009

20 Jahre nach dem Mauerfall: Weltweit große Unzufriedenheit mit Kapitalismus

WELT ONLINE: 20 Jahre nach dem Mauerfall und dem Niedergang des Kommunismus herrscht weltweit große Unzufriedenheit mit dem kapitalistischen Wirtschaftssystem. Jeder fünfte Befragte einer von der BBC in Auftrag gegebenen Studie spricht sich für eine vollkommen neue Wirtschaftsordnung aus.

Die Unzufriedenheit mit dem kapitalistischen Wirtschaftssystem ist 20 Jahre nach dem Mauerfall und dem Niedergang des Kommunismus sehr groß. Nach einer von der BBC in Auftrag gegebenen Studie waren nur elf Prozent der Befragten in 27 Ländern der Ansicht, dass der Kapitalismus in seiner derzeitigen Form gut funktioniert.

Lediglich in den USA (25 Prozent) und Pakistan (21 Prozent) war mehr als jeder Fünfte mit der aktuellen Wirtschaftsordnung zufrieden. Unter dem Eindruck der schlimmsten Finanz- und Wirtschaftskrise seit den 30er-Jahren glaubten 51 Prozent der Befragten, dass die Märkte stärker reguliert werden müssen. Im Schnitt 23 Prozent meinten, dass eine vollkommen neue Wirtschaftsordnung geschaffen werden müsse.

„Es scheint, dass der Fall der Berliner Mauer nicht der überwältigende Sieg für die freie Marktwirtschaft gewesen ist, für den er damals gehalten wurde“, sagte Doug Miller, Chef der Umfrageinstituts GlobeScan, das gemeinsam mit der Universität von Maryland rund 29.000 Menschen befragte. „Einige Elemente des Sozialismus, etwa die gleiche Verteilung des Wohlstands durch die Regierung, sprechen viele Leute auf der Welt weiter an“, sagte Steven Kull von der Universität von Maryland. >>> AFP/dpa/fas | Montag, 09. November 2009

The Berlin Wall – Die Berliner Mauer – Le mur de Berlin



L'Allemagne a payé cher sa réunification

LE FIGARO: Berlin a investi des centaines de milliards pour redonner un nouveau souffle aux régions de l'ex-RDA qui se sont effondrées après la chute du Mur.

À l'occasion du vingtième anniversaire de la chute du Mur, l'amertume de beaucoup d'anciens citoyens est-allemands s'étale dans les journaux. Fini la sécurité de l'emploi et « le miracle économique » de la RDA décrit par la Banque mondiale dans les années 1970. Avec un taux de chômage de 11,8 % (contre 6,6 % pour l'Ouest), la situation écono­mique reste plus précaire dans les ­nouveaux Bundesländer, le nom officiel des régions issues de la RDA, que dans le reste du pays. Selon les dernières études, 250 000 jeunes femmes, plus diplômées et entreprenantes que les garçons, ont ­quitté leur région d'origine pour chercher du travail à l'Ouest, créant un déficit démographique qui s'ajoute au départ de 1,8 million de citoyens sur les 17 millions que comptait la RDA en 1989. Écoles et crèches ferment alors qu'on détruit des quartiers entiers des anciennes villes industrielles désertées.

En 1989, le chef de la RDA, Erich Honecker, s'enorgueillissait d'être à la tête d'une « des dix premières puissances industrielles du monde ». Mais la chute du Mur laissa ap­paraître la réalité de l'économie ­planifiée, et l'introduction du deutsche mark à parité de la monnaie de l'Est ­précipita en quelques mois son effondrement. Lorsque le Mur tombe sous les coups de boutoir de l'opposition réformatrice à l'automne 1989, la RDA est exsangue. >>> Caroline Bruneau | Lundi 09 Novembre 2009

Sunday, November 08, 2009


The Man We Love to Hate: Mr Goldman Sachs

THE SUNDAY TIMES: Number 85 Broad Street, a dull, rust-coloured office block in lower Manhattan, doesn’t look like a place to stop and stare, and that’s just the way the people who work there like it. The men and women who arrive in the watery dawn sunshine, dressed in Wall Street black, clutching black briefcases and BlackBerrys, are very, very private. They walk quickly from their black Lincoln town cars to the lobby, past, well, nothing, really. There’s no name plate on the building, no sign on the front desk and the armed policeman stationed outside isn’t saying who works there. There’s a good reason for the secrecy. Number 85 Broad Street, New York, NY 10004, is where the money is. All of it.

It’s the site of the best cash-making machine that global capitalism has ever produced, and, some say, a political force more powerful than governments. The people who work behind the brass-trim glass doors make more money than some countries do. They are the rainmakers’ rainmakers, the biggest swinging dicks in the financial jungle. Their assets total $1 trillion, their annual revenues run into the tens of billions, and their profits are in the billions, which they distribute liberally among themselves. Average pay this recessionary year for the 30,000 staff is expected to be a record $700,000. Top earners will get tens of millions, several hundred thousand times more than a cleaner at the firm. When they have finished getting "filthy rich by 40", as the company saying goes, these alpha dogs don’t put their feet up. They parachute into some of the most senior political posts in the US and beyond, prompting accusations that they "rule the world". Number 85 Broad Street is the home of Goldman Sachs.

The world’s most successful investment bank likes to hide behind the tidal wave of money that it generates and sends crashing over Manhattan, the City of London and most of the world’s other financial capitals. But now the dark knights of banking are being forced, blinking, into the cold light of day. The public, politicians and the press blame bankers’ reckless trading for the credit crunch and, as the most successful bank still standing, Goldman is their prime target. Here, politicians and commentators compete to denounce Goldman in ever more robust terms — "robber barons", "economic vandals", "vulture capitalists". Vince Cable, the Lib Dem Treasury spokesman, contrasts the bank’s recent record results — profits of $3.2 billion in the last quarter alone — and its planned bumper bonus payments with what has happened to ordinary people’s jobs and incomes in 2009.

It’s even worse in the US. There, Rolling Stone magazine ran a story that described Goldman as "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money". In his latest documentary, Capitalism: A Love Story, Michael Moore drives up to 85 Broad Street in an armoured Brinks money van, leaps out carrying a sack with a giant dollar sign on it, looks up at the building and yells: "We’re here to get the money back for the American people!"

Goldman’s reputation is suddenly as toxic as the credit default swaps and other inexplicably exotic financial instruments it used to buy with glee. That’s bad for the one thing it values more than anything else: business. Being the prime target for popular and political outrage could put Goldman first in line for draconian new regulation. So it has, reluctantly, decided that the time has come to speak out, to fight its corner. That’s how, on one of those bright autumnal New York mornings when anything seems possible — even an invitation to break bread with the masters of the universe — I find myself walking past the security guard who held up Michael Moore and into the building with no name. I'm doing 'God's work'. Meet Mr Goldman Sachs >>> John Arlidge | Sunday, November 08, 2009

Michael Moore – Capitalism: A Love Story – Trailer

Friday, September 25, 2009


Last East German Leader Still a Convinced Socialist

THE LOCAL: Communist East Germany's last leader Egon Krenz said this week he still believes socialism will triumph over capitalism in the end, almost 20 years after the fall of the Berlin Wall.

"I am still optimistic and cannot believe that capitalism, with all the crises it generates, can be history's very last word," Krenz, still sprightly at the age of 72, told reporters on Thursday.

Krenz took over from long-term communist leader Erich Honecker on October 18, 1989, as the regime vainly sought to regain control of a country engulfed in a peaceful revolution that brought down the hated Berlin Wall just three weeks later.

Eleven months on, communist East Germany, also known as the German Democratic Republic (GDR), was a thing of the past as it merged with West Germany to form a single country.

But inequalities remain between the two halves of the country.

Just ahead of the twentieth anniversary of the fall of the Wall, unemployment is twice as high in the east, and eastern German towns are losing their youngest citizens as they seek work elsewhere.

"We've achieved quite a few things in reunified Germany, like building roads, motorways, and renovating town centres," Krenz said. "But at what price? Freedom without work isn't freedom," he added. "Today's walls in Germany are those separating the poor from the rich."

He also had some sharp words for Germany's current Chancellor Angela Merkel, who grew up in the GDR, saying she has been "bad" for the country.

But he took pleasure in pointing out that she once belonged to the communist youth organisation (FDJ) when she was growing up behind the Iron Curtain.

In Sunday's general election, which is expected to give Merkel a second term, he said he would vote for socialist party The Left, a party made of former GDR communists and defectors from the centre-left Social Democrats (SPD).

"I back its programme, so you know how I'll be voting," Krenz said. >>> AFP | Friday, September 25, 2009
Hugo Chavez: Only Socialism Brings Genuine Change: Venezuelen President Hugo Chavez addresses the U.N. General Assembly

Thursday, September 24, 2009


Britain Walks Out of Iran's Ahmadinejad's Anti-Semitic Speech at UN

THE TELEGRAPH: Britain walked out of a speech by President Mahmoud Ahmadinejad of Iran at the United Nations on Wednesday night in protest at anti-Semitic remarks.

The speech came as the international community raised the pressure on Iran to acknowledge its nuclear programme ahead of key talks next week.

South American delegations also marched from the grand hall at UN headquarters when the controversial leader denounced what he said was a global Jewish conspiracy, amid a long rant against capitalism and Western hypocrisy.

He denounced a "small minority dominating much of the world through a complicated network", and went on to call Iran a "glorious, democratic nation".

The United States, Canada and Israel decided earlier to boycott the speech before the annual UN General Assembly, after Mr Ahmadinejad repeated his denial of the Holocaust in a speech in Iran on Monday. He has also regularly called on Jews to leave Israel. >>> Alex Spillius in New York | Thursday, September 24, 2009

Sunday, May 31, 2009

American Capitalism Gone with a Whimper

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Image: Google Images

PRAVDA: It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.

Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

First, the population was dumbed down through a politicized and substandard education system based on pop culture, rather then [sic] the classics. Americans know more about their favorite TV dramas then the drama in DC that directly affects their lives. They care more for their "right" to choke down a McDonalds burger or a BurgerKing burger than [sic] for their constitutional rights. Then they turn around and lecture us about our rights and about our "democracy". Pride blind the foolish.

Then their faith in God was destroyed, until their churches, all tens of thousands of different "branches and denominations" were for the most part little more then Sunday circuses and their televangelists and top protestant mega preachers were more then happy to sell out their souls and flocks to be on the "winning" side of one pseudo Marxist politician or another. Their flocks may complain, but when explained that they would be on the "winning" side, their flocks were ever so quick to reject Christ in hopes for earthly power. Even our Holy Orthodox churches are scandalously liberalized in America.

The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America's short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.

These past two weeks have been the most breath taking of all. First came the announcement of a planned redesign of the American Byzantine tax system, by the very thieves who used it to bankroll their thefts, loses and swindles of hundreds of billions of dollars. These make our Russian oligarchs look little more then ordinary street thugs, in comparison. Yes, the Americans have beat our own thieves in the shear volumes. Should we congratulate them? >>> Stanislav Mishin | Monday, April 27, 2009

Hat tip: Always On Watch >>>

Monday, April 13, 2009

New Dark Age Alert! Shariah Bankers: West Ready for Faith-based Alternative

THE WASHINGTON POST: SINGAPORE | Backers of Shariah-compliant finance see an opportunity for expansion amid the global economic downturn, and some Western banks are welcoming this growing source of new business.

"Islamic bankers should do some missionary work in the Western world to promote the concept of Shariah banking, for which many in the West are more than ready now," Indonesian President Susilo Bambang Yudhoyono said at the World Islamic Economic Forum last month in Jakarta.

Such statements have given rise to fears that Shariah finance is a stalking horse for hidden political or religious aims. Shariah finance is an extension of Islamic law, pushing a faith-based alternative to Western banking.

Key Islamists who advise Shariah financial houses have called for full Shariah law to be adopted in Western countries and, in some cases, have made statements supporting terrorist groups.

Shariah finance means institutions and norms that fit with Islamic law. Fully compliant Islamic financial institutions are prohibited from interest payments and require transactions to be backed by tangible assets.

Speculation and hedge funds are off limits — ditto for anything connected to porn, gambling, alcohol or pork. Shariah finance targets Muslims who want to avoid what are deemed "un-Islamic" Western banks or financial practices, and appeals to clients' faith as well as their bottom line. >>> By Simon Roughneen | Monday, April 13, 2009

Thursday, March 26, 2009

Monday, October 27, 2008

Obama the Socialist? Turning the Home of Capitalism into the Heartland of Socialism?

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Image courtesy of Google Images

THE TELEGRAPH: A radio discussion in which Barack Obama lamented past failures to bring about "redistributive change" as one of the "tragedies" of history has reignited fears he plans to introduce socialist-style economic policies.

Excerpts of his comments, made in the context of discussing historical wrongs against blacks, were broadcast on a radio station in 2001 but emerged on the internet.

In the discussion with Chicago Public Radio, Mr Obama, then just 40 and an obscure state senator and university law lecturer, was speaking about the US Supreme Court and noted that its history meant that "I'm not optimistic about bringing about major redistributive change through the courts".

Although his remarks were heavily analytical and academic, he spoke warmly of the notion of redistributing wealth, suggesting that there were other vehicles that [sic] the courts to achieve it.

"One of the, I think, tragedies of the civil rights movement was because the civil rights movement became so court focused I think there was a tendency to lose track of the political and community organising and activities on the ground that are able to put together the actual coalition of powers through which you bring about redistributive change. In some ways we still suffer from that."

The comments emerged as Mr Obama cast himself as representing "hope over fear" and, in a reference to Abraham Lincoln, "a politics that calls on our better angels instead of encouraging our worst instincts".

With the race for the White House entering the final week of a gruelling 21-month campaign, the Democratic nominee, with a comfortable seven-point lead in national polls, sought to portray his Republican rival John McCain as a clone of President George W. Bush.

"When it comes to the economy ... the plain truth is that John McCain has stood with this president every step of the way," the Illinois senator said. "Voting for the Bush tax cuts for the wealthy that he once opposed. Voting for the Bush budgets that spent us into debt. Calling for less regulation 21 times just this year. Those are the facts."

But what aides called his "closing argument" was potentially undermined by the emergence of the 2001 discussion, which was seized on by John McCain's campaign as proof that the Democratic nominee is a dangerous radical. Barack Obama Interview Reignites Fear of Socialist Agenda >>> By Toby Harnden in Pittsburgh | October 27, 2008


The Dawning of a New Dark Age – Paperback (US) Barnes & Noble >>>
The Dawning of a New Dark Age – Hardcover (US) Barnes & Noble >>>

Friday, July 11, 2008

Former Radical Extremist: Radical Islam Similar to Marxism, Soviet Union

TOWNHALL.COM: A former leader of a radical Islamic organization told Congress extreme Muslims are motivated by an ideology similar to Marxism and that Islamism has much in common with the former Soviet Union.

Maajid Nawaz, a native of England and once prominent figure in the London-based extremist group Hizb ut-Tharir, testified before the Senate Homeland Security and Governmental Affairs Committee that the root cause of Islamic terrorism was its fanatical ideology, not poverty or discrimination.

“There is a common misconception on the left in the UK that only grievances can lead to Islamism,” he said.

Nawaz drew parallels between socialist Marxism and Islamism, contending that both movements see everything as a global ideological power struggle. He said Islamists wished for the world to be ruled under a single caliphate state, “like the Soviet bloc.”

“There will always be a conflict between Islamism and capitalism, just as there was once conflict between communism and capitalism,” he said. Former Radical Extremist: Radical Islam Similar to Marxism, Soviet Union >>> By Matt Purple | July 11, 2008

The Dawning of a New Dark Age – Dust Jacket Hardcover, direct from the publishers (US) >>>
The Dawning of a New Dark Age – Paperback, direct from the publishers (US) >>>

Thursday, June 05, 2008

Putting Profit above Principle

It has been announced that Tony Blair wants to ’devote his life to faith’. By ‘faith’ I suppose we are to understand ‘interfaith dialogue’, so as to try and ensure that we all live together in harmony.

This is a noble ambition indeed; unfortunately, however, there is one stumbling block: The nature of Islam!

For ‘interfaith dialogue’ to be meaningful, there has to be a readiness by all parties, in this case especially Jews, Christians, and Muslims, to compromise, for without compromise, interfaith dialogue becomes a meaningless exercise.

In Islam we find an implacable faith, an unyielding belief system founded on totally different principles than both Judaism and Christianity.

Christianity is based on love: The love of God, the love for God, the love of humanity. Islam, by contrast, is not a religion based on love; rather, it is based on total submission to Allah, and where there is no total submission to Him, we find the sword used to rein in the people. Indeed, Muhammad himself announced the sword to be an instrument of faith. Who, then, are we to argue with Muhammad’s declaration? How can we put a positive spin on that?

It is interesting to note that there is a maxim used by Muslims which states the following: ‘To convince stubborn unbelievers, there is no argument like the sword.’ [Source: Washington Irving: Mohammed]

For this reason, if for no other, it is difficult to see what Tony Blair hopes to achieve with his devotion to interfaith dialogue. How does he hope to change the nature of the faith of Islam? It is impossible to change nature. Indeed, can we change the nature of anything? And if this is so, then what hope have we of changing the nature of Islam, especially after more than fourteen hundred years?

The only man who could have changed its nature was the Prophet Muhammad himself. But as he is no longer around to make any changes, it is not going to be possible for mere mortals to change anything in that religion. You see, Islam is not a religion like Christianity anyway. Christianity has evolved, and has undergone a reformation. This reformation was made possible partly because Christianity, being based on the Bible, especially the New Testament, is to all but fundamentalist Christians, considered to be a book that is inspired by God. The words contained therein are not generally considered to be God’s actual words.

In this respect, Islam is very different. Islam, as we all know, is based on the Qur’an, and that book is not considered be inspired by Allah; rather, Muslims consider the book to comprise the actual words of Allah as dictated to Muhammad by the Angel Gabriel in the form of a recitation. In fact, the very meaning of ‘Al Qur’an’ is ‘The Recitation’.

The result of this difference between the holy books has led to two quite different civilizations and cultures. Muslims are very defensive of Islamic culture and civilization in a way that Westerners are not defensive of theirs.

Take our leaders. They are reluctant to face up to the fact that we have a huge problem on our hands with Islam in general, and with the rapid growth of Islam in the West in particular. In this reluctance, they are doing us no favours. On the contrary, they are remiss in their duties as guardians of our way of life, as guardians of our Judeo-Christian civilization.

What, for example, are our leaders doing to protect our values and our way of life? Interfaithing will offer no protection; actually, on the contrary, it will probably lead to compromise – the compromise of Westerners. To me it seems like a cop out. It is a smokescreen to enable the top echelons to put profit above principle.

The jihad which is being waged against the West threatens us all. It is not something we can afford to ignore; yet people are ignoring it, largely in the hope that it will go away. It won’t. If anything, it will get worse.

The jihad has many guises. One of the latest is the economic jihad being waged against capitalism. Only this morning, it was reported that there have been calls for >Ireland to introduce Shari’ah-compliant finance as a matter of urgency. As a matter of urgency, no less! Why? So that Muslims living and working in Ireland can live their lives according to their faith, without feeling conflicted by the terms and conditions of living in the ‘evil’ capitalist system.

One can but ask oneself one question here: If living under capitalism is so onerous for these Muslims, then why did they come here to live in the first place?

The leaders of finance houses who are working so hard to introduce Shari’ah-compliant financial services and products seem to be oblivious to the fact that Islamic economics is competing in every respect with capitalism. Isn’t it true to say that the interest rate is the keystone of a capitalist economy? Take that keystone away and the whole system will start to fall apart.

In Islam, riba is frowned upon. But let’s get one thing straight: Riba is generally translated as usury, not as the interest rate per se. There is a world of difference between usury, which is the charging of extortionate rates of interest for loans, and the general interest rate which is not to be equated with such extortion. Yet nobody seems to be making any difference between them. The financiers appear to have been hoodwinked into believing that the interest rate is itself frowned upon in Islamic economics. It must be said that one’s definitions in this matter depend on the Islamic scholars one reads: Some scholars frown upon the interest rate altogether, calling it all usury, whilst others take a more liberal approach and make a distinction between a reasonable rate of interest and an extortionate rate.

Whichever is the case, the fact remains that Islamic economics is not compatible with the long-term interests of a capitalist economy. One can but worry about the tentacles of Islam tightening their grip on Western economies. Lest we forget, the old adage, He who pays the piper calls the tune comes to mind. We need not wait to learn that this is indeed true. We can discern the verity of the adage already when we look around us. Take the power of the petrodollar as a case in point. Its power is profound, and it can be felt around the globe.

It is one reason why our leaders and business people are reluctant to speak out. They are overcome by greed and fear: They are greedy to earn back the petrodollars, and they are fearful that if they speak out they will incur the wrath of the Muslims living in the West, and cut off our oil supplies into the bargain.

You see, they do not have the stomach for any form of confrontation. The sad reality is, however, that the West will not survive this onslaught without a confrontation of some kind or other. It’s just not possible. Muslims are to determined too replace our Judeo-Christian civilization with an Islamic one, too determined to replace capitalism with an Islamic economic system.

But by confrontation, I do not necessarily think that we need to go to war (though that cannot, of course, be ruled out in the long-run). But we do need to protect our own values and our own way of life. Alas, this is not happening. Our leaders are giving in at every turn. Appeasement of Muslims both at home and abroad is the norm of the day. It will do nothing for the West except accelarate the demise of our civilization, and accelerate the demise of capitalism, too.

Can’t the people in power see what they are doing? Are bankers and financiers so greedy that they are willing to bring down the West for their own short-term gain? Do they not realize that they are playing with fire? Do they really believe that capitalism and Islamic economics can co-exist? Can they really be that ignorant?

Personally, I think they are not; rather, I think these people are out to get all they can before the house of cards is brought down. Remember the fall of communism? Capitalism will fall equally easily if we do not pay more attention. It’s hard to believe, I know. But the introduction of Shari’ah-compliant finance and other Shari’ah-compliant products is just the start. It is the introduction of Shari’ah law by the back the door. Today it’s banking; tomorrow it will be Shari’ah enshrined in the laws of the land, enshrined in the constitutions of Western countries. How foolish our leaders, bankers and financiers are!

Before 9/11, it would have been hard to imagine that the West could have been so weak and unwilling to fight for a way of life we have come to expect and love. But it all started going wrong after those attacks, because we were too reluctant to state the case against Islam, clearly and unequivocally. The politicians have busied themselves making excuses for Islam and have deceived the public in so doing; the business people and bankers have busied themselves making money from the countries awash with petrodollars. And in so doing they have chosen to turn a blind eye to the financing, by Saudi Arabia, of the propagation of Wahhabi Islam in the West.

So what exactly is Tony Blair going to achieve with his lifetime spent interfaithing? Is he merely going to sell the West farther down the river? And in any case, what are his qualifications for doing this job? What does he know about Islam? And where has he learnt that which he does know?

One thing is for certain: People like Tony Blair are not going to learn the true nature of Islam by sitting in five star hotels in Bethlehem, talking to fabulously rich Muslims from oil-rich countries. To learn about the true nature of Islam, one has to mix and talk with people at the grassroots level. The rich are generally Western-educated, indulge in alcohol, spend enormous amounts of money in casinos, live in the lap of luxury, and generally do not adhere strictly to their faith. They are also generally well-travelled; so they are not representative of the ordinary man in the Arab street. Ergo, little can be learnt from them when it comes to the faith of Islam.

Isn’t it high time that we all started taking stock? Isn’t it high time that we woke up to the reality which confronts us? Isn’t it high time that we started to put principle before profit?

©Mark Alexander

All Rights Reserved

Friday, May 30, 2008

Putting Profit above Principle

It has been announced that Tony Blair wants to ’devote his life to faith’. By ‘faith’ I suppose we are to understand ‘interfaith dialogue’, so as to try and ensure that we all live together in harmony.

This is a noble ambition indeed; unfortunately, however, there is one stumbling block: The nature of Islam!

For ‘interfaith dialogue’ to be meaningful, there has to be a readiness by all parties, in this case especially Jews, Christians, and Muslims, to compromise, for without compromise, interfaith dialogue becomes a meaningless exercise.

In Islam we find an implacable faith, an unyielding belief system founded on totally different principles than both Judaism and Christianity.

Christianity is based on love: The love of God, the love for God, the love of humanity. Islam, by contrast, is not a religion based on love; rather, it is based on total submission to Allah, and where there is no total submission to Him, we find the sword used to rein in the people. Indeed, Muhammad himself announced the sword to be an instrument of faith. Who, then, are we to argue with Muhammad’s declaration? How can we put a positive spin on that?

It is interesting to note that there is a maxim used by Muslims which states the following: ‘To convince stubborn unbelievers, there is no argument like the sword.’ [Source: Washington Irving: Mohammed]

For this reason, if for no other, it is difficult to see what Tony Blair hopes to achieve with his devotion to interfaith dialogue. How does he hope to change the nature of the faith of Islam? It is impossible to change nature. Indeed, can we change the nature of anything? And if this is so, then what hope have we of changing the nature of Islam, especially after more than fourteen hundred years?

The only man who could have changed its nature was the Prophet Muhammad himself. But as he is no longer around to make any changes, it is not going to be possible for mere mortals to change anything in that religion. You see, Islam is not a religion like Christianity anyway. Christianity has evolved, and has undergone a reformation. This reformation was made possible partly because Christianity, being based on the Bible, especially the New Testament, is to all but fundamentalist Christians considered to be a book that is inspired by God. The words contained therein are not generally considered to be God’s actual words.

In this respect, Islam is very different. Islam, as we all know, is based on the Qur’an, and that book is not considered be inspired by Allah; rather, Muslims consider the book to comprise the actual words of Allah as dictated to Muhammad by the Angel Gabriel in the form of a recitation. In fact, the very meaning of ‘Al Qur’an’ is ‘The Recitation’.

The result of this difference between the holy books has led to two quite different civilizations and cultures. Muslims are very defensive of Islamic culture and civilization in a way that Westerners are not defensive of theirs.

Take our leaders. They are reluctant to face up to the fact that we have a huge problem on our hands with Islam in general, and with the rapid growth of Islam in the West in particular. In this reluctance, they are doing us no favours. On the contrary, they are remiss in their duties as guardians of our way of life, as guardians of our Judeo-Christian civilization.

What, for example, are our leaders doing to protect our values and our way of life? Interfaithing will offer no protection; actually, on the contrary, it will probably lead to compromise – the compromise of Westerners. To me it seems like a cop out. It is a smokescreen to enable the top echelons to put profit above principle.

The jihad which is being waged against the West threatens us all. It is not something we can afford to ignore; yet people are ignoring it, largely in the hope that it will go away. It won’t. If anything, it will get worse.

The jihad has many guises. One of the latest is the economic jihad being waged against capitalism. Only this morning, it was reported that there have been calls for Ireland to introduce Shari’ah-compliant finance as a matter of urgency. As a matter of urgency, no less! Why? So that Muslims living and working in Ireland can live their lives according to their faith, without feeling conflicted by the terms and conditions of living in the ‘evil’ capitalist system.

One can but ask oneself one question here: If living under capitalism is so onerous for these Muslims, then why did they come here to live in the first place?

The leaders of finance houses who are working so hard to introduce Shari’ah-compliant financial services and products seem to be oblivious to the fact that Islamic economics is competing in every respect with capitalism. Isn’t it true to say that the interest rate is the keystone of a capitalist economy? Take that keystone away and the whole system will start to fall apart.

In Islam, riba is frowned upon. But let’s get one thing straight: Riba is generally translated as usury, not as the interest rate per se. There is a world of difference between usury, which is the charging of extortionate rates of interest for loans, and the general interest rate which is not to be equated with such extortion. Yet nobody seems to be making any difference between them. The financiers appear to have been hoodwinked into believing that the interest rate is itself frowned upon in Islamic economics. It must be said that one’s definitions in this matter depend on the Islamic scholars one reads: Some scholars frown upon the interest rate altogether, calling it all usury, whilst others take a more liberal approach and make a distinction between a reasonable rate of interest and an extortionate rate.

Whichever is the case, the fact remains that Islamic economics is not compatible with the long-term interests of a capitalist economy. One can but worry about the tentacles of Islam tightening their grip on Western economies. Lest we forget, the old adage, He who pays the piper calls the tune comes to mind. We need not wait to learn that this is indeed true. We can discern the verity of the adage already when we look around us. Take the power of the petrodollar as a case in point. Its power is profound, and it can be felt around the globe.

It is one reason why our leaders and business people are reluctant to speak out. They are overcome by greed and fear: They are greedy to earn back the petrodollars, and they are fearful that if they speak out they will incur the wrath of the Muslims living in the West, and cut off our oil supplies into the bargain.

You see, they do not have the stomach for any form of confrontation. The sad reality is, however, that the West will not survive this onslaught without a confrontation of some kind or other. It’s just not possible. Muslims are too determined to replace our Judeo-Christian civilization with an Islamic one, too determined to replace capitalism with an Islamic economic system.

But by confrontation, I do not necessarily think that we need to go to war (though that cannot, of course, be ruled out in the long-run). But we do need to protect our own values and our own way of life. Alas, this is not happening. Our leaders are giving in at every turn. Appeasement of Muslims both at home and abroad is the norm of the day. It will do nothing for the West except accelarate the demise of our civilization, and accelerate the demise of capitalism, too.

Can’t the people in power see what they are doing? Are bankers and financiers so greedy that they are willing to bring down the West for their own short-term gain? Do they not realize that they are playing with fire? Do they really believe that capitalism and Islamic economics can co-exist? Can they really be that ignorant?

Personally, I think they are not; rather, I think these people are out to get all they can before the house of cards is brought down. Remember the fall of communism? Capitalism will fall equally easily if we do not pay more attention. It’s hard to believe, I know. But the introduction of Shari’ah-compliant finance and other Shari’ah-compliant products is just the start. It is the introduction of Shari’ah law by the back the door. Today it’s banking; tomorrow it will be Shari’ah enshrined in the laws of the land, enshrined in the constitutions of Western countries. How foolish our leaders, bankers and financiers are!

Before 9/11, it would have been hard to imagine that the West could have been so weak and unwilling to fight for a way of life we have come to expect and love. But it all started going wrong after those attacks, because we were too reluctant to state the case against Islam, clearly and unequivocally. The politicians have busied themselves making excuses for Islam and have deceived the public in so doing; the business people and bankers have busied themselves making money from the countries awash with petrodollars. And in so doing they have chosen to turn a blind eye to the financing, by Saudi Arabia, of the propagation of Wahhabi Islam in the West.

So what exactly is Tony Blair going to achieve with his lifetime spent interfaithing? Is he merely going to sell the West farther down the river? And in any case, what are his qualifications for doing this job? What does he know about Islam? And where has he learnt that which he does know?

One thing is for certain: People like Tony Blair are not going to learn the true nature of Islam by sitting in five star hotels in Bethlehem, talking to fabulously rich Muslims from oil-rich countries. To learn about the true nature of Islam one has to mix and talk with people at the grassroots level. The rich are generally Western-educated, indulge in alcohol, spend enormous amounts of money in casinos, live in the lap of luxury, and generally do not adhere strictly to their faith. They are also generally well-travelled; so they are not representative of the ordinary man in the Arab street. Ergo, little can be learnt from them when it comes to the faith of Islam.

Isn’t it high time that we all started taking stock? Isn’t it high time that we woke up to the reality which confronts us? Isn’t it high time that we started to put principle before profit?

©Mark Alexander

All Rights Reserved

Thursday, July 05, 2007

Shari’ah-Compliant Finance

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Photo of HSBC (Dubai) courtesy of Council on Foreign Relations
COUNCIL ON FOREIGN RELATIONS: There are few principles more central to modern economics than interest, the fee charged for the opportunity of borrowing money. Interest spurs economic efficiency and creates wealth by helping borrowers and lenders make exchanges to their mutual advantage. Islamic law, or sharia, forbids either paying or charging interest. For decades this theological ban has had limited effect on international economics, given the feathery relative weight of Middle Eastern investors and businesses in global markets. But now, an influx of oil money is bulking up Middle Eastern financial influence and giving rise to a new boom industry: sharia-compliant financial services.

In order to win the “sharia compliant” seal of approval, businesses must adhere to all theological requirements of the Quran. Jawad Ali, a partner at King & Spalding, a law firm that assists businesses in structuring sharia-compliant deals, explains in an interview that this means not only shunning interest but also adhering to a host of other requirements. A real estate firm, for instance, cannot rent property to banks, casinos, businesses that deal in pork or pork products, or any other business that itself doesn’t follow sharia.

Still, Ali says, the most complicated compliance standard is commonly the interest ban. Businesses work around this restriction by developing creative ways to substitute fees for interest. Say, for instance, a business is interested in purchasing a property. Instead of borrowing money to make the purchase, the business can structure a transaction such that a bank acquires the property and leases it out for a set fee. This primer by the Institute of Islamic Banking and Insurance outlines other similar sharia-compliant financial arrangements. Yet there is no absolute standard for sharia compliance beyond meeting the subjective demands of would-be investors, and there is no governing body overseeing Islamic banking, so standards vary region-to-region and firm-to-firm. Banking on Islam (more) Prepared by Lee Hudson Teslik

Mark Alexander