“When I give food to the poor, they call me a saint. When I ask why they are poor, they call me a communist.” Dom Hélder Pessoa Câmara, Archbishop of Olinda and Recife, also known as the ‘Bishop of Corum’
- “JPMorgan Chase, the biggest US bank, has revealed a surprise trading loss of $2bn (£1.2bn) on complex investments made by its traders.”
- “The leader of Greece’s Socialist Party, Evangelos Venizelos, says he has made progress in efforts to form a coalition after inconclusive elections on Sunday.”
- “More than 20ft high, rubber, inflatable and wobbling, the latest weapon in Chancellor Angela Merkel’s relentless austerity drive looks uncannily like a children’s bouncy castle. Yet it is currently touring Germany’s most populous state ahead of this weekend’s key elections which could determine her long-term political future.”
- TRNN: “What Americans can Learn from Eurocrisis. Michael Hudson: From the Democratic Party to European “Socialists”, they manage crisis in the interests of finance.”
- “The US trade deficit widened at its fastest rate for 10 months in March. Official figures from the Commerce Department show the deficit at $51.8bn (£32.0bn) in March, up from $45.4bn in February.”
- “Maybe China’s leaders —currently embroiled in a complex leadership transition — should worry less about politics at the moment, and more about economics. The latest numbers out of Beijing today are anemic, particularly on the domestic economy.”
- “The International Committee of the Red Cross (ICRC) has suspended humanitarian activities in two of Pakistan’s largest cities, Peshawar and Karachi.”
- “President Barack Obama’s recent statements about a ‘new dawn’ for Afghanistan, made in the middle of the Kabul night, were all too reminiscent of the ‘light at the end of the tunnel,’ a phrase that came to symbolize all the over-optimism of America’s long involvement in Indochina.”
- TRNN: “Quebec Students Demand Education as a Right, Continue Strike. J Bedard: Students almost unanimously reject government deal, willing to lose year if necessary.”
“Global Capitalism – May 2012 Monthly Update.” Prof Richard Wolff’s monthly presentation at the Brecht Forum in New York.
The truth will set you free but first it will piss you off.