Economic crisis news

This video from the USA is called This Is How The Bail Out Will Screw You.

Some of the economic crisis news of today:

US congressman: “If we don’t pass this bill, we’re going to have martial law in the United States”.

US jobs numbers much worse than expected: here.

Jeremy Kay reports from LA where the economic crisis and the sheer weight of competition mean that smaller films will die a quick and undeserved death: here.

U.S. orgy of debt: here.

5 thoughts on “Economic crisis news

  1. STOP the blank check bailout!

    Posted by: “Mike Hersh”

    Thu Oct 2, 2008 9:47 am (PDT)

    *Senate approves “Rescue Plan”—Sells Out to Greedy Fat Cats*
    *Help us Hold the Line in the House of Representatives TODAY!*

    We desperately need your help! The Senate put some “lipstick on it” and passed the bailout bill. We have *a second chance to defeat it in the House*; the vote is expected by Friday.

    We’re partnering with /True Majority, USAction,/ and / to defeat the Wall St. bailout. /We want a Fair Deal for Main St//./, and we’re asking our members to *visit their representative’s local office in the* *next 2 days* to get them on record in support of a Fair Deal for Main St.

    If your Representative voted YES the first time around, then a chance for redemption exists. This letter is a “request for constituent services” to elicit support for a Fair Deal for Main St. Take it with you and follow these instructions .

    If your Representative voted NO last time, leave your thanks, the
    letter, and ask them to hold firm.


    * Find your Representative and local office here
    * Find out how your representative voted here
    * Find talking points here
    * Schedule your visit, or find a scheduled visit in your district,
    here .
    * Send us a report on your visit, click here .

    We can defeat this terrible bailout bill and provide protection for Main St. in these vulnerable times, if we all take action on Wednesday and Thursday.

    Yours in the movement,

    Tim Carpenter
    PDA National Coordinator
    * **Progressive Democrats of America* is a grassroots PAC that works both inside the Democratic Party and outside in movements for peace and justice. Our goal: Elect a permanent, progressive majority in 2008. PDA’s advisory board includes seven members of Congress and activist leaders such as Tom Hayden, Medea Benjamin, Thom Hartmann, Jim Hightower, and Rev. Lennox Yearwood.


  2. Friday: Last Chance to Stop Paulson’s Plunder

    (1) Call your Representative at 800-473-6711 or 800-828-0498 or 202-224-3121 and say “No Bailout!”
    (2) Find or Organize a “No Bailout” protest near you:
    (3) Visit your Representative’s local office

    The Senate’s 74-25 vote for Paulson’s Plunder came as no surprise, since the Senate is run by and for millionaires. So now it’s back to the House of Representatives, where we shocked those millionaires on Monday by defeating their bailout bill by 228-205.

    A terrified army of corporate lobbyists is working around the clock to switch 13 votes, but only 7 have switched so far – Jim Ramstad (R-MN), John Shadegg (R-AZ), Zach Wamp (R-TN), Ileana Ros-Lehtinen (R-FL), Shelley Berkley (D-NV), Emanuel Cleaver (D-MO) and John Lewis (D- GA). Other possible switches include Pat Tiberi (R-OH), Pete Hoekstra (R-MI), John Yarmouth (D-KY), Brian Bilbray (R-CA), Steve Rothman (D-NJ), Lee Terry (R-NE), Jim Gerlach (R-PA), Tim Murphy (R-PA), Jason Altmire (D-PA), and Gabrielle Giffords (D-AZ). But others may switch from Yes to No, including Ed Markey (D-MA), Charlie Melancon (D-LA), and Spencer Bachus (R-AL).

    Bush’s first Treasury Secretary, Paul O’Neill, called Paulson’s plan “crazy” and “lunacy” with potentially “awful” consequences for the world’s largest economy. Many of the best economists agree with O’Neill. Paulson’s strongest supporters – including panicked CNBC hosts – now admit it will not raise stock prices or boost the economy as it falls into recession. Then why on earth should we give $700 $850 billion of our tax dollars to Wall Street??? Joe Lieberman gave away the real game when he told FOX ” it will be good for John McCain.”

    With so much at stake, Congress should stay in session for another week (or two) to pass a much better (and cheaper!) plan proposed by Pete DeFazio (D-OR). But Congress desperately wants to go home so Friday may be our last chance to stop this $850 billion disaster .

    (1) Call your Representative today!
    First check how your Representative voted on Monday (and note switches above):
    If (s)he voted NO, say “Thank you for helping stop the Bailout on Monday. Don’t betray us now by voting YES on Friday, or I will vote NO against you on Election Day.”
    If (s)he voted YES, say “I’m outraged that you supported the Bailout on Monday, and I will remember on Election Day. If you want my vote on Election Day, you must vote NO on Friday.”

    (2) Join or organize a street protest against the bailout:

    (3) We’re also partnering with Progressive Democrats of America and USAction/TrueMajority to schedule local meetings with our Representatives to demand a Fair Deal for Main St . If you’d like to help,

    * Print this letter and fax it to your Representative’s district office – use the phone book or search here . On your cover sheet, request a meeting for group of activists as soon as possible.
    * Better yet, visit your Representative’s district office and follow these instructions .
    * Report scheduled meetings to

    For inspiration, watch this great video from Agit-Pop:

    Find more information and comment here:

    Thanks for all you do!


    Republicans Blame OBAMA for Wall Street Meltdown – Help Us Fight Back!

    Even before the House voted on Monday, the Republican National Committee broadcast an outrageous TV ad blaming Barack Obama for the Wall Street Meltdown:

    Our friends at Agit-Pop produced a rapid response 30-second ad that places blame for the meltdown exactly where it belongs, namely Bush-McCain economics :

    We don’t have Wall Street millions to put this ad on the air, but we have you so please forward this 30-second ad to everyone you know!

    Find more info and comment here:


  3. Not another rip-off
    We demand:

    Stop the Wall Street bailout
    Instead, I demand the following emergency measures:

    Why not a bailout for the rest of us?
    The Paulson plan will be back before both houses of Congress before the week is out, perhaps with some token changes to pick up a few more votes. But the essence will be unchanged: It is a proposal for the greatest transfer of wealth from workers to the rich in U.S. history.


  4. NO Money for Wall Street & War!

    Bail Out the Workers and the Poor!

    SIGN THE ONLINE PETITION demanding the government

    The Senate has just voted to pass a US$700-billion financial bailout for corrupt financial institutions, while ignoring the real needs of working people. In addition to an unprecedented giveaway to Wall Street, the bill also includes $100 billion dollars in tax breaks for corporations – but no relief for working people who are facing foreclosure and who need health care, jobs, and education.

    The House of Representatives is scheduled to vote on this proposal as early as Friday – tomorrow. Please sign the online petition now – tell President Bush, Candidates Obama and McCain, Members of Congress, Treasury Secretary Paulson, Federal Reserve Chairman Bernanke, and members of the media: Bail Out Main Street NOT Wall Street! Sign the petition at


    To: President Bush, Candidates Obama and McCain, Members of Congress, Treasury Secretary Paulson, Federal Reserve Chairman Bernanke, and members of the media

    Bail Out Main Street NOT Wall Street!

    Tens of millions of working and poor people are facing the most dire economic crisis since the Depression of the 1930s. Yet our government is planning to hand over the U.S. treasury to Wall St. bankers. All that the politicians offer to people who are losing their homes, jobs, health care, education and pensions are bigger and bigger budget cuts to vital social services.

    Enough is Enough!

    I say NO to this injustice. NO Bailout of Wall Street bankers!

    Instead, I demand the following emergency measures:

    1. Moratorium on home foreclosures and evictions.
    2. Freeze all job layoffs and extend unemployment benefits.
    3. Freeze all utility cutoffs & roll back gas, food and utility prices
    4. Protect workers’ pensions and savings—hands off Social Security.
    5. Debt cancellation for working and poor people—no repossessions or wage garnishing.
    6. Moratorium on budget cuts in all social programs like health care, education, mass transit, youth programs, seniors programs, veterans programs and others.

    (Your signature will be appended here based on the contact information you enter)






    2pm Saturday OCT 4
    At the Solidarity Center
    55 West 17 St. NYC 5th floor
    (bet. 6th and 5th Ave. – take all trains to 14th , Manhattan)

    *Plan more actions
    *Get involved, get organized
    *Find out what’s being planned
    *Discuss the issues & the connections

    Sponsored by Troops Out Now Coalition, FIST & The Ad-hoc National Network Against Foreclosures and Evictions
    Contact info: 212-633-6646

    Sign the Petition | Donate to Help With Organizing Expenses


  5. Socialist Appeal for October 2, 2008

    The Real Meaning of
    Bush’s Speech

    Written by Brendan M. Cooney
    Tuesday, 30 September 2008

    Brendan M. Cooney “translates” Bush’s recent speech from the language
    of the capitalist class into its meaning for the rest of us. These two humorous
    videos contain very serious points concerning the cause of the financial crisis.

    Report on NYC
    Anti-Bailout Rally

    Written by Mark Rahman   
    Saturday, 27 September 2008
    On Tuesday, September 23rd, there was
    just the mention on the left of the possibility of an emergency rally against
    the bail-out plan for Thursday. By Wednesday, the AFL-CIO was forced to organize
    something, a reflection of the pressure on the leadership from below and the
    more or less spontaneous organization against the bail-out plan. A report on the
    various rallies that took place near Wall Street on Thursday, September 25th.

    World capitalism in
    crisis – Part One

    Written by Alan Woods   
    Friday, 26 September 2008

    We live in exceptional times. The financial panic
    in the USA is creating waves that are threatening to engulf the whole world.
    This is rapidly transforming the consciousness of millions. Alan Woods, in a
    two-part article looks at how the world economy reached the stage it has, where
    it is on the brink of a serious downward, so serious that it could be as worse
    if not worse than 1929.


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