Friday! Pet Shop Boys- I’m Not Scared

There just aren’t enough false moustaches in pop.

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Perspective

The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study. It puts the annual cost of forest loss at between $2 trillion and $5 trillion. The figure comes from adding the value of the various services that forests perform, such as providing clean water and absorbing carbon dioxide. The study, headed by a Deutsche Bank economist, parallels the Stern Review into the economics of climate change.

Changes

From Democracy Now (also an essential guide to actually being able to vote, ain’t post democracy grand?)

National Debt Clock in New York City has run out of digits to record the growing figure. When the national debt topped the $10 trillion point last month, the sign could not display the full amount. A larger debt clock is scheduled to be installed next year.

Now that’s funny, but what is important is this-

In Illinois, the Cook County Sheriff has announced he will no longer evict residents from foreclosed properties in Chicago. The department was on pace to conduct 4,700 foreclosures this year, nearly triple the number from two years ago. Sheriff Tom Dart said he took the measure because an increasing number of the residents being evicted were renters who might have been dutifully paying their rent. Under a new Chicago law, renters are entitled to a ninety-day grace period, starting at the time a foreclosure sale is confirmed, before they can be evicted. This comes as the Wall Street Journal reports the relentless slide in home prices has left nearly one in six US homeowners owing more on a mortgage than their home is worth.

Agents for the State and capital be it law or bailiffs are the sharp end of the crisis, they act in the name of capital, if they begin to refuse to act, to stop helping the system that caused all this then it is another step towards changing things for the better. Leading politician’s will not fundamentally challenge the markets or take money from the rich to help the poor, so any small piece of help like this is essential progress at the grassroots.