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Bankers and consultants face off in a Wall Street freestyle battle.

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The Olympics are over and after two weeks of enforced peace and harmony it's time to get back to reality. Psychotherapist RENATE OGILVIE counsels that bad economic times can actually lead to well-being and happiness.

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The 2008 Beijing Olympic Games have been referred to as the “People’s Games”, the “High Tech Games” and the “Green Games” but they could be more aptly described as the Commercial Games.

Commercialism is overrunning the Olympics. It is undermining the professed ideals of the Olympic Games, and subverting the Olympics' veneration of sport with omnipresent commercial messaging and branding. The Olympics have auctioned off virtually every aspect of the Games to the highest bidder. In addition to multimillion-dollar sponsorship deals between the International Olympic Committee and international companies, smaller firms are paying for designations from “official home and industrial flooring supplier” to the “frozen dumplings exclusive supplier” of the Beijing 2008 Olympic Games...

To its credit, the Olympics do prohibit advertising in sports stadia or other venues. The Olympics also prohibit advertisements on uniforms (other than uniform maker logos)... Besides celebrating sport, there is an official ideology of the Olympics, called "Olympism." It aims to promote a pure blend of sport, culture and education. Sports, of course, remain at the center of the Olympics, but commercialism has overwhelmed whatever other values the Olympics hope to embody. The overwhelming cultural influence at the Olympics is now commercial culture; and the overwhelming informational message is: buy, buy, buy. [More] 

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I initially read Batman and his relation to economic power, law, and the system as an endorsement of the conservative agenda. That was a shallow reading... What seemed like an endorsement of the conservative agenda via Batman’s character actually can be perceived as a bleak (and ultimately nihilistic) critique of the lie and fallacy of the system that historically has been ruled by those who possess the most assets to control those with the least. What initially seems to be ideologically conservative could also be interpreted as exposing the underlying fascism of American Corporatized Government and the systems of Law and Order that protect it. The image of Batman locked inside his rigid black suit and overlooking his empire is certainly more fascist than friendly...

Unlike Batman’s order-obsessed rigidity, Joker explodes with chaos. He is the perfect Anti-Batman. Where Batman is the pillar of Law and Order, Joker is the arbiter of Anarchy. The key scene (and my personal favorite) which reveals the Joker as the anarchist is when he stands in front of a giant mountain of cash (the combined assets of all the crime leaders which represents the centralized economic power of a corrupt system), and he burns it...

Maybe Nolan is asking us to choose from different sides of nothingness. If so, I know what side I’m choosing. I’ll take the Joker’s anarchistic chaos over Batman’s archaic commitment to corrupt systems of law and order any day. Not only that, Joker’s exploding hospitals and burning towers of cash (executed with economic explosive devices) are infinitely more entertaining than Batman’s Multi-million Dollar Extreme Warfare Batmobile. And speaking of the Joker burning things, when he gave his speech about not needing money and held a match to the giant mountain of cash, I didn’t hesitate for a second. “BURN IT!” I screamed inside my head. And I let out a little gasp of victory when the whole stack of bills burst into flame. But I also know that I was surrounded by people who gasped in horror at the sight of burning money, and those people were, unequivocally, the majority. [More]

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RENATE OGILVIE reports that the high price of fossil fuel is turning big petrol-guzzling monster cars into fossils themselves.

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Apple's new iPhone was released recently with much fanfare. It comes with a calculator so you can add up all the new bills you have. . . read more
Paradoxically, it is Iraq's suffering - its never-ending crisis - that is the rationale for an arrangement that threatens to drain Iraq's treasury of its main revenue source. The logic goes like this: Iraq's oil industry needs foreign expertise because years of punishing sanctions starved it of new technology, while the invasion and continuing violence degraded it further. And Iraq needs to start producing more oil urgently. Why? Also because of the war. The country is shattered and the billions handed out in no-bid contracts to western firms have failed to rebuild it.

And that's where the new contracts come in: they will raise more money, but Iraq has become such a treacherous place that the oil majors must be induced to take the risk of investing. Thus the invasion of Iraq neatly creates the argument for its subsequent pillage.

Several of the architects of the Iraq war no longer even bother to deny that oil was a major motivator for the invasion. On US National Public Radio, Fadhil Chalabi, one of the primary Iraqi advisers to the Bush administration in the lead-up to the invasion, recently described the war as "a strategic move on the part of the United States of America and the UK to have a military presence in the Gulf in order to secure [oil] supplies in the future". Chalabi, who served as Iraq's oil undersecretary of state and met with the oil majors before the invasion, described this as "a primary objective".

Invading countries to seize their natural resources is illegal under the Geneva conventions. That means the huge task of rebuilding Iraq's infrastructure - including its oil infrastructure - is the financial responsibility of Iraq's invaders. They should be forced to pay reparations, just as Saddam Hussein's regime paid $9bn to Kuwait in reparations for its 1990 invasion. Instead, Iraq is being forced to sell 75% of its national patrimony to pay the bills for its own illegal invasion and occupation. [More]
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Worldwide sales of private jets have more than doubled since 2003, to $19.4 billion in 2007. The number of jets sold increased 28% between 2006 and 2007 alone, and sales are up sharply in the first quarter of 2008. Corporate jet ownership has increased by about 70% since the early 1990s. Demand for private jets is so high that a used jet bought in 2006 can now be sold at a handsome profit. But where luxury items like a fancy bottle of wine or a Picasso painting are simply a private extravagance, private jet use imposes real costs on everyone who isn't a high flyer - and on the planet...

Private and corporate jets give the super-rich not just ease and comfort, convenience and luxury - including an escape from the bothers of security lines and flight delays - but a way to distinguish themselves from everyone else. Private jet marketing explicitly emphasizes the elite status and conspicuousness of this consumption. And, because the ultra-rich are always eager to distinguish themselves from the very rich, private jets are becoming more luxurious and expensive...

To the extent that private jets are symbols of an economic system gone awry, remedying the problem will require big picture policy changes - steep wealth and income taxes and other measures to redress inequality, and comprehensive policies to address global warming. But soaring private jet use also demands its own response. Tax breaks for buying and flying private jets should be ended... And a hefty luxury tax should be imposed on private jet sales and flying. We shouldn't be supporting the High Flyers in their luxury indulgence. If such heavy-polluting opulence is to be permitted at all, the super-rich should pay a stiff price for the privilege. [More]

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Activist group GetUp provide a glimpse into the future of the Australian Government's Fuel Watch scheme.

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Years from today, when the current financial crisis is over, historians are likely to agree that it would have been far better if the Bush administration had declared a state of emergency earlier in the process so that the necessary steps could have taken to avoid a complete financial meltdown. The media could have been used to bring the American people up to date on market-related developments and educated in the bizarre language of structured finance. Knowledge is power; and power can prevent panic.

Now we're in a terrible fix. People are scared and removing their money from the banks and money markets. This is intensifying the freeze in the credit markets and driving stocks into the ground like a tent stake. Meanwhile, our leaders are caught in the headlights, still believing they can finesse their way through the biggest economic cataclysm since the Great Depression.

If something is not done to increase the flow of credit immediately, the stock market will tumble, unemployment will spike, and many businesses will grind to a standstill. We could be just days away from a severe shock to the system. Secretary of the Treasury Henry Paulson's $700 billion bailout does not focus on the fundamental problems and is likely to fail. At best, it puts off the day of reckoning for a few weeks or months. Contingency plans should be put in place so the country does not have to undergo post-Katrina bedlam. [More]

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12 sep

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Re: Zeitgeist Addendum

Brilliant, mind-expanding stuff - even better than the original. The timing is perfect with the criminal U.S. financial system in a state of collapse and dragging the world down with it. These times of crisis lead to paradigm shifts - it is time for the Zeitgeist revolution.

1. Boycott Citibank, JP Morgan Chase & Bank of America and expose the corrupt Federal Reserve system

2. Boycott the mainstream media networks and protect the freedom of the internet

3. Boycott the military

4. Boycott energy companies - get off the grid, convert your car

5. Reject the current political system - the illusion of democracy in this corrupt monetary system is an insult to our intelligence

6. Spread the message, create critical mass 

All the natural resources on the planet are the common heritage of all people. We can all live in abundance if we focus on real change - J.P.

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Re: The Exorcism of Sarah

Religious belief should itself be a disqualification for executive office as it displays a complete lack of critical thinking. Will church and state ever really be separate in America? - Jesus

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Re: Sia - Buttons

Thanx for supporting Sia. She is Australia's finest - Amy

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Re: Alien Contact Coming October 14

I'm ready to believe but why would highly advanced aliens transmit their messages through such kooks. And what do the aliens have to do with 9/11? - The Truth is Really Out There

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Re: Who The Fuck is Sarah Palin?

Thanks for the biggest laugh of the day. YOU calling Sarah Palin a retard made my day. I rarely see that level of irony. That whole "hate god so deny him" mental problem you have is obviously blurring your judgement. Peace out loser! - Mr Happy Bottom

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Re: U.S. Economic Collapse? - From Michael Lerner

Economic collapse, I don't think so. The problem with all millenarium thinking is simply that things work at a much more glacial pace and are infinitely more complex than Michael/chicken little can get into the space of his squawk. Lehman Bros are not being singled out because they are perceived as "liberal" etc ; they are simple another of the bankstas who have hit the wall in the collapse of one of the history of money's ponzi schemes. The SCO (China)/India, resurgence of Russia and the emerging South American/Japan splintering of markets means the Wall Street pygmies now have to move out of the club house and actually perform because the game has really begun.

The banking cartel IS big news but its demise overdue and hoped for by most sentient human beings is not Economic collapse because Commerce is an essential human need and recruiter of human ability. Try one of the Economists from the USA who has been way prescient, calling these events at least two years ago to my knowledge. Dean Baker is occassionaly on mainstream media but they do not like him. The bloke really knows his stuff and while his focus is the USA his take on how Capitalism actually lurches about is fair dinkum info the world in general needs to factor in - Anthony Innes

10 aug
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