Ben Seymour on Thu, 23 Aug 2007 02:26:18 +0200 (CEST)

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Hi all,

Here's some articles dealing with the wider context of the current
financial crisis and the credit bubble of recent years. Hope it's of


M | U | T | E | __ rrrrrread it!

______________________________________________ 21 August 07_


Living in a Bubble: Credit, Debt and Crisis - Mute Vol 2 #6

Panic in the credit markets! Sub-prime crash! The new issue of Mute
is on the money and online soon. In Living in a Bubble: Credit, Debt
and Crisis we look at the social costs of an era of debt-backed boom
now showing signs of busting. As a downpayment on the future we are
publishing some articles from the issue ahead of time...


Fictitious Capital For Beginners: Imperialism, 'Anti-Imperialism', and
the Continuing Relevance of Rosa Luxemburg

By Loren Goldner

The liquidity crisis currently wiping billions off global stock
markets is just the tip of a very big iceberg. Beneath the credit
crunch and incipient insolvency crisis lie the economic and political
crisis of the USAâ??s global reign, claims Loren Goldner. But will
this mean global depression, wars and intensified authoritarianism, or
a renewed opportunity for communism? Goldner returns to the theories
of Marx and Luxemburg to examine today's financial and military
imperialism, and its left wing â??anti-imperialistâ?? mirror


Risky Business
By Stanley Morgan

With the prospect of earning over the odds on derivatives trading,
hedge fund managers are employing ever more high-tech means to
calculate risk and predict stock market activity. But Wall Streetâ??s
faith in its own predictive powers often blinds investors to the
fundamental laws of investment, says risk specialist Stanley Morgan


Waiting For the End of the World
By Jeff Strahl

Would a financial crisis mean recession, depression or revolution?
And havenâ??t we been waiting a long time for this liberating,
or devastating, catastrophe? Jeff Strahl surveys the prophets
and naysayers and gives his own take on â??a global crisis of
unprecedented proportionsâ??


The Three P's - Private Equity, PFI and Pensions
by Rob Ray

As money expands, society contracts. In the UK the unholy trinity of
Private Finance Initiatives, Private Equity and Pensions embodies this
logic, turning jobs, services and infrastructure into factories for
finance capital. Rob Ray explains how the 3 P's interact to pile up
corporate fortunes and devolve risk on to the rest of us


The Magic of Debt, or Amortise This!

Today we donâ??t feel guilty about incurring debts, just the opposite
â?? indebtedness is the entry price of being a good citizen, pulling
more and more of us into the global financial system. Here Brett
Neilson offers some philsophical and political tools for disowning a
debt which can never be repaid


Speculating on Student Debt

Far from being a right, British higher education in the age of
top-up fees is a commodity with a hefty price tag attached. For most
students, write the Committee for Radical Diplomacy, it offers a basic
schooling in debt and recasts learning as a down-payment on a dubious




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