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Editorial The public is increasingly anxious over the growing severity of the housing crisis and with good reason. Foreclosures are up 62 percent from 2006 and are projected to reach 2 million by the end of this year. Housing prices have fallen for consecutive years for the first time since the Great Depression.
In August, the crisis took a dramatic turn for the worse. The rise in mortgage loan defaults and foreclosures spread like wild fire beyond the "subprime" to the prime mortgage market and from there into the broader US and world economy. This has led to a full blown financial panic as banks and other lenders frantically attempt to unload loans losing value onto the market before they become worthless. To stop the bleeding and "restore confidence," the US Federal Reserve and other central banks throughout the world were forced to pump hundreds of billions of dollars into a US and world financial system teetering on the brink of collapse.
Cover Story Two decades ago, corporate think tanks unveiled a vision of how to reorganize human society, based on capitalist control of the new electronic technology. The experts realized that computer-assisted production would be vastly more productive than before. This meant there would be more workers than jobs, so they developed the "just-in-time" concept of contingent workers who work from job to job, for low wages, and are often not working at all.
Next, they transformed various types of public, national and social property into corporate property. Increasingly, corporations began to run government functions directly, not for the public, but to make a profit and protect their interests.
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Also In this Issue: The Democrats have betrayed us
Time for the Corporate Two-Party Shell Game Again!
We Need a Strategy to Put Our Country on a New Course
Journey for Humanity exposed Democrats' complicity with Bush regime
Shut down the war, say Iraq vets
Fathers Day weekend 2007 with my son, Sgt. Ryan S. Kahlor
U.S. troops on endless snipe hunt
To serve humanity? Or a recipe for attacking the poor?
Rev. Pinkney Continues to Beat Up on Berrien County Justice System
New Speakers for a New America Brochure:
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