Fannie, Freddie, Food and Fuel (tags)
The financial crisis deepens with the nationalization of IndyMac and the likely bailout of Freddie Mac and Fannie May by the US taxpayer. The financial crisis has company as inflation, and in particular huge increases in global food and energy prices, enters the fray. The American economic model has been discredited and the American century has lasted but a few decades. These developments have and will further open up a new period in the struggle between capital and labor on the world stage and the US working class will have a major role to play as it re-connects with its militant traditions.
The Choice between Food and Fuel (tags)
The "tortilla crisis" signalled the beginning of the distribution battles the planet is about to face - struggles over the most productive farmland, the most favorable supply contracts and the best seed.