January 9, 2003
Why Is Capitalism in Crisis? "The stock market has now declined three years in a row," says Ahmad Faruqui, "something that last happened when the Axis powers were over-running the planet. It is worth noting that the S&P 500 Index dropped by 23 percent in 2002, exceeding the 13 percent drop in 2001 and the 10 percent drop in 2000. It is falling at an increasing rate. Over the past three years, the S&P Index has lost 40 percent of its value. The more narrowly focused Dow Jones Index has lost 28 percent of its value, while the high-tech Nasdaq has lost 67 percent. First to fall were the Internet stocks, then came the established companies. General Electric and Microsoft are down more than 50 percent off their highs, IBM is down 40 percent and Cisco is down more than 80 percent. Overall, investors are poorer by $6 trillion." See Counterpunch Bush's Armageddon Obsession. See Counterpunch Helen Runs Ari in Circles. It's so hard to carry on a rational conversation about contradictory policies. Check out this transcript of a press conference in which a real reporter tears Ari to pieces. See Whitehouse.gov Bush is Fanning the Flames, says Arie Caspi. "Bush, like Sharon, thinks that the 'terrorist infrastructure' can be eliminated," says Caspi. "Israel's experience has shown that every dead terrorist is replaced by two new ones. A war against Iraq will serve as a catalyst for global terror. Eleven years ago, just before the Gulf War, I commented here that the Americans would win only if they captured Saddam. If he lived, the Iraqis would consider it a victory. That is what happened. In the war George W. is now cooking up, Saddam will win even if he dies. America and the West will lose, no matter what." Terror will survive. Bush's policies are making it a more dangerous world by the day. See Haaretzdaily.com.