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Financial Times Tuesday,
The shadow of history passes over Pakistan
The British, too, turned to aerial surveillance as a way out of the double bind of persistent anti-colonial rebellion and popular demands that their troops be brought home. When the British public grew critical in turn of the violence of the new strategy, officials proclaimed that it worked more through the threat of bombardment than actual attack, gamely embracing "terror" as its main tactical principle.

Global Research CA from Pravda Tuesday,
Russia Dumps US Dollar as basic reserve currency
The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote. The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said.

Financial Times Tuesday,
Saviors and Survivors
Save Darfur, argues Mamdani, is the newest colonial power in a long history of colonial abuse. Its call for justice in Sudan is “really a slogan that masks a big power agenda to recolonize Africa”.

Global Research CA Tuesday,
The Smooth Criminal Transition from Bush/Cheney to Obama
Corrupt new administration deepens and expands systemic criminalization and war agenda

The Financial Times Tuesday,
How Asia can protect itself from a dollar default
Conventional Keynesian policies - fiscal and monetary expansion on a national basis - cannot solve the problem but will make it worse.

The Financial Times Tuesday,
Equities show us the way to a recovery
The household wealth effect on personal consumption expenditures has been documented, but stock prices have a statistically highly significant impact on private capital investment as well. Such analyses suggest that much of the recent decline in global economic activity can be associated directly or indirectly with declining equity values. (?!)

The Financial Times Tuesday,
US Domestic Borrowing (1980-2008)
First, comparisons between today and the deep recessions of the early 1980s are utterly misguided. In 1981, US private debt was 123 per cent of gross domestic product; by the third quarter of 2008, it was 290 per cent. In 1981, household debt was 48 per cent of GDP; in 2007, it was 100 per cent. In 1980, the Federal Reserve‘s intervention rate reached 19–20 per cent. Today, it is nearly zero.

The Financial Times Tuesday,
Financial turmoil evokes familiar scapegoats
The panic of 1837 triggered the first global depression, lasting seven years. Alexander McNutt, governor of Mississippi, labelled English banker James Rothschild a blood brother of "Judas and Shylock".

The Financial Times Tuesday,
Shocked by Soros's poor grasp of risks
Who are the speculators then? Those who were buying protection on Lehman often to hedge their counterparty risk; or those who were selling the protection while thinking that the Fed and the Treasury would bail them out as they had in the past?

The Financial Times Tuesday,
Our lethargic leaders need to start working together
What took the global economy three years to achieve between 1929 and 1932 might take us less than a year.