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HOT HOT HOT New CounterPunch Print Edition! Meet actual Iraqis and not just Western caricatures. Laith al-Saud interviews top man in Iraq's national resistance. It's not just Abu Ghraib and bids to kill Fidel Castro. Torture and assassination are integral parts of America's imperial machine. Don't miss Andrew Wimmer's searing journey into the soul of a nation that tortures as a way of life. Plus Alexander Cockburn on the killing of General Kassem. PLUS Sam Sillen's rollicking exhumation of Edmund Wilson as Malthusian Trostskyite. Get the answers you're looking for in the latest subscriber-only edition of CounterPunch ... CounterPunch Online is read by millions of viewers each month! But remember, we are funded solely by the subscribers to the print edition of CounterPunch. Please support this website by buying a subscription to our newsletter, which contains fresh material you won't find anywhere else, or by making a donation for the online edition. Remember contributions are tax-deductible. Click here to make a donation. If you find our site useful please: Subscribe Now! or write CounterPunch, PO BOX 228, Petrolia, CA 95558 |
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October 12, 2005 Diana Johnstone October 11, 2005 Roger Morris
/ Steve Schmidt Lila Rajiva Bill Quigley Paul Craig Roberts Dave Lindorff Dr. Teresa Whitehurst Mitchel Cohen Tariq Ali Website of
the Day
October 10, 2005 Cindy and Craig
Corrie Joshua Frank Gideon Levy Alan Wallis Mickey Z. CounterPunch News Service Paul Craig
Roberts Website of the Day
October 8 / 9, 2005 Alexander Cockburn Ralph Nader Jennifer Van Bergen Saul Landau Jeff Halper Lenni Brenner Nikolas Kozloff Brian Cloughley Alice Slater John Gautreaux Fred Gardner Niranjan Ramakrishnan M.G. Piety Tom Gorman Mike Whitney Aseem Shrivastava Ben Tripp Poets' Basement
October 7, 2005 Larry Johnson Will Youmans Dave Lindorff Judith Scherr Russell D. Hoffman Jared Bernstein Jennifer Van
Bergen Website of
the Day
P. Sainath Scott Parkin Paul Craig
Roberts Andréa Schmidt Dave Lindorff Joshua Frank M. Junaid Alam Matthew Koehler Robert Pollin
October 5, 2005 Heather Gray Robert Jensen Ramzy Baroud Col. Dan Smith Dave Zirin Paul Craig Roberts Alan Maass
October 4, 2005 Nikolas Kozloff Mike Roselle Joshua Frank John Chuckman Alan Farago Mickey Z. Christine & Ethan Rose Gary Leupp Website of the Day
October 3, 2005 Vijay Prashad Paul Craig
Roberts Joshua Frank Seth Sandronsky Jeffrey St. Clair
October 1 / 2, 2005 Cockburn
/ St. Clair Dave
Marsh Ralph
Nader Flavia
Alaya Uri
Avnery Chris
Kutalik Greg
Moses Brian
J. Foley Nicole
Colson Ray
McGovern Fred
Gardner Justin
Felux Will
Youmans Mike
Ferner David
Krieger Agustin
Velloso Saul
Landau Ben
Tripp Poets
Basement Website
of the Weekend
September 30, 2005 Mary
Geddry Paul
Craig Roberts Dave
Lindorff Gregory
Wilpert Benjamin
Dangl James
McMurtry T.R.
Johnson
September 29, 2005 Sen.
Russ Feingold Carl
G. Estabrook Ramzy
Baroud Dave
Lindorff Mike
Whitney Jozef
Hand-Boniakowski Gary
Handschumacher Winslow
T. Wheeler
September 28, 2005 Dr.
Eyad Serraj William
A. Cook Liaquat
Ali Khan Mike
Whitney Joshua
Frank CounterPunch
Wire Chris
Genovali Linn
Washington, Jr.
September 27, 2005 Forrest
Hylton Jason
Leopold Jennifer
K. Harbury Ray
McGovern Mike
Ferner Antony
Loewenstein Harry
Browne
September 26, 2005 Rafael
Rodriguez Cruz Joshua
Frank Lamis
Andoni Mike
Marqusee Rep.
Cynthia McKinney Ron
Jacobs Norman
Solomon John
Chuckman Paul
Craig Roberts
September 24 / 25, 2005 Kathy
and Bill Christison Ralph
Nader Saul
Landau Greg
Moses Roger
Burbach Vijay
Prashad Laura
Carlsen Robert
Fisk Dave
Lindorff Kirkpatrick
Sale / Thomas Naylor Maj.
Anthony Milavic Brian
Concannon, Jr.
September 23, 2005 CounterPunch
News Service Diane
Farsetta Robert
Sandels Christopher
Brauchli Alan
Farago Dave
Zirin Maxine
Conant David
Price
September 22, 2005 Smith,
Wood, Leas, and Greenfield Patrick
Cockburn Manuel
Garcia, Jr. Lucia
Dailey Mokhiber
/ Weissman Russell
D. Hoffman Kona
Lowell Jason
Leopold Website
of the Day
September 21, 2005 Jorge
Mariscal Linda
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Frank Eric
Ruder Pierre
Tristam Dave
Lindorff Mike
Ferner Missy
Comley Beattie Jeffrey
St. Clair Website
of the Day
September 20, 2005 Steve
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Galloway Patrick
Cockburn M.
Shahid Alam Mike
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October 12, 2005 Good News at Last!The IMF Has Lost Its InfluenceBy MARK WEISBROT Sometimes historic changes take place quietly, while no one is looking. Great institutions lose power with a whimper rather than a bang. Such is the case of the International Monetary Fund (IMF), which will hold its annual fall meetings with the World Bank next week in Washington D.C. Just a few years ago, the IMF was the most powerful financial institution in the world. When financial and economic crises swept across East Asia in 1997, it was the IMF that laid down the painful conditions that governments had to meet in order to access more than $120 billion in foreign funds. When the financial contagion spread to Russia and Brazil, the IMF followed, brokering the multi-billion dollar loans that -- however unsuccessfully -- were intended to prop up overvalued currencies on the brink of collapse. Those days are over. The Asian countries began, after their nightmarish experience with the Fund in 1997-1998, to pile up huge international foreign exchange reserves -- partly so they would never have to go begging to the IMF again. But the final blow to the Fund came from the country that IMF First Deputy Managing Director Anne Krueger reportedly calls "the A-word": Argentina. Argentina suffered through a terrible four-year depression, beginning in 1998. A country that had recently ranked among the highest for living standards in Latin America soon had the majority of the country falling below the poverty line. Many Argentines blamed the IMF, which had played a major role in designing the policies that led to the collapse, and seemed to prescribe just the wrong medicine during the crisis: high interest rates, budget tightening, and maintaining the Argentine peso's unsustainable link to the U.S. dollar. In December of 2001 the government defaulted on $100 billion of debt, the largest sovereign debt default in history. The currency and the banking system collapsed, and the country sank further into depression. But only for about three more months. Then, to most people's surprise, the economy began to recover. The recovery began and continued without any help from the IMF. On the contrary: in 2002, the Fund and other official creditors (including the World Bank), actually took a net $4.1 billion -- more than 4 percent of GDP -- out of Argentina. But the government was able to chart more of its own economic course, rejecting IMF demands for higher interest rates, increased budget austerity, and utility price increases. Argentina also took a hard line with foreign creditors holding defaulted debt, despite repeated threats from the Fund. When push came to shove in September 2003, Argentina did the unthinkable: a temporary default to the IMF itself, until the Fund backed down. The result: a rapid and robust economic recovery, with a remarkable 8.8 percent growth in GDP for 2003 and 9 percent for 2004. With a projected 7.3 percent GDP gain for 2005, Argentina is still the fastest growing economy in Latin America. Prior to Argentina's 2003 showdown with the Fund, only failed or "pariah" states with nothing left to lose -- e.g. Congo, Iraq -- had defaulted to the IMF. That's because of the IMF's power to cut off not only its own credit but also most loans from the larger World Bank, other multilateral lenders, the rich country governments, and even much of the private sector. This has been the source of the IMF's enormous influence over economic policy in developing countries: in effect, a creditors' cartel led by the Fund, which is answerable primarily to the U.S. Treasury Department. But Argentina showed that a country that was flat on its back could stand up to the IMF, and not only live to tell about it, but even launch a solid economic recovery. This changed the world. Although the IMF still carries a lot of weight in poorer countries (for example, in Sub-Saharan Africa), its influence in the middle-income countries has plummeted. The Fund is now a shadow of its former self. Reformers over the last 15 years debated whether change would come about through the IMF altering its policies, or through the Fund losing influence. That debate has now been settled by history. The IMF has not been reformed, but its power to shape economic policy in developing countries has been enormously reduced. Mark Weisbrot is co-director of the Center
for Economic and Policy Research, in Washington, D.C. He
is the author, with Dean Baker, of Social
Security: the Phony Crisis. He can be reached at: weisbrot@cepr.net
ALEXANDER COCKBURN, JEFFREY ST CLAIR, BECKY GRANT AND THE INSTITUTE FOR THE ADVANCEMENT OF JOURNALISTIC CLARITY, COUNTERPUNCH We published an article entitled "A Saudiless Arabia" by Wayne Madsen dated October 22, 2002 (the "Article"), on the website of the Institute for the Advancement of Journalistic Clarity, CounterPunch, www.counterpunch.org (the "Website"). Although it was not our intention, counsel for Mohammed Hussein Al Amoudi has advised us the Article suggests, or could be read as suggesting, that Mr Al Amoudi has funded, supported, or is in some way associated with, the terrorist activities of Osama bin Laden and the Al Qaeda terrorist network. We do not have any evidence connecting Mr Al Amoudi with terrorism. As a result of an exchange of communications with Mr Al Amoudi's lawyers, we have removed the Article from the Website. We are pleased to clarify the position. August 17, 2005
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from CounterPunch Books! The Case Against Israel By Michael Neumann ![]() Grand Theft Pentagon: Tales of Greed and Profiteering in the War on Terror by Jeffrey St. Clair ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
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