It's a World Con In the six months to June 30, the US stock market had its biggest fall since 1970, down 14%. Following Enron, we have the WorldCom fiasco, which threatens to be the biggest bankruptcy in world history. Corporate executives lived off the fat of the boom, but now the tide has ebbed, the nasty rocks of failure, corruption and thievery are being revealed.
Private Finance Initiative: Britain leads the way - to disaster! This article deals with the scandalous so-called "Private Finance Initiative" in Britain. This process allows private companies to be involved in the building and running of what were formerly public services, such as hospitals, railways, and even schools. Mick Brooks shows quite clearly that the only people to benefit from PFI have been the fat cat capitalists who run the private firms.
The Turn of the Tide After all the talk of an economic revival in the USA, the headlines are now dominated by an epidemic of financial scandals, steep falls on the stock markets, waning confidence and increasing uncertainty. In spite of attempts by the media to present all this as purely a question of a few "bad corporations" the nervousness on the stock markets is in reality the manifestation of a far deeper crisis that expresses itself in extreme instability at every level - economic, social, political and military - on a world scale.
