Month November 2007

Revolt of the teapots

The small, locally own oil refineries in China called “teapots” revolted when the government froze gasoline prices. Since they couldn’t make money with the new pricing because the price of crude was rising, they simply switched to producing non-regulated products.…

Venezueula: The center may not hold

Red Squirrel details the enormous tension and conflict in Venezuela now, with the referendum vote on Saturday. Things are getting extremely polarized, with fighting in the streets, murder, and probable CIA intervention. Venezuelan counterintelligence just released a document they say…

SWP jacks Respect branch

The vanguard Marxist ideologues of SWP continue doing a stellar job of destroying of what was once a solid and promising left party. “Never attribute to malice that which can be adequately explained by stupidity.”

Middle class hanging by a thread

Two out of three middle class American families on shaky financial groundMore than half of middle-class families have no net financial assets whatsoever. Only 13 percent of middle-class families are secure in their asset levels- meaning that they have enough…

The bear growls

Are we headed for an epic bear market?The credit bubble is just starting to unwind, a credit-derivative insider says. And while U.S. borrowers are being blamed for the mess, they were really just pawns in a global game. When asked…