Crisis Update: Thursday, November 20, 2008

“US report sees shift of power to east”, by Demetri Sevastopulo, November 21, 2008. Financial Times.
http://www.ft.com/cms/s/0/027a4492-b75c-11dd-8e01-0000779fd18c.html

“Global Trends 2025: The National Intelligence Council’s 2025 Project”, from the Chairman of the National Intelligence Council. (Full Report can be downloaded here)
http://www.dni.gov/nic/NIC_2025_project.html

“Fields of Grain and Losses”, by DAVID STREITFELD, November 20, 2008. New York Times.
http://www.nytimes.com/2008/11/21/business/21farm.html?ref=business

“Deflation fears spark rush for government bonds”, by Michael Mackenzie and David Oakley, November 20, 2008. Financial Times.
http://www.ft.com/cms/s/0/7ea34f78-b72a-11dd-8e01-0000779fd18c.html

“Looking to Washington Again, So Far in Vain”, by Floyd Norris, November 20, 2008. New York Times.
http://www.nytimes.com/2008/11/21/business/economy/21norris.html

“Oil closes below $50, lowest since May 2005”, by Jad Mouawad, November 20, 2008. New York Times.
http://www.nytimes.com/2008/11/21/business/economy/21oil.html?ref=business

“South Could Gain as Detroit Struggles”, by Paulo Prada and Dan Fitzpatrick, November 20, 2008. Wall Street Journal.
http://online.wsj.com/wsjgate?subURI=%2Farticle%2FSB122714059184542693-email.html&nonsubURI=%2Farticle_email%2FSB122714059184542693-lMyQjAxMDI4MjI3MDEyNDAwWj.html or http://www.sltrib.com/ci_11036673?source=rss

“Detroit’s Bid for Aid Fails — For Now”, by DAVID M. HERSZENHORN, November 20, 2008. New York Times.
http://www.nytimes.com/2008/11/21/business/21auto.html?ref=business

Demand Development Resources

“Foreclosure Freeze Movement Takes on Wall Street”, by Scott Sabatini, November 19, 2008. BeyondChron.org.
http://www.beyondchron.org/news/index.php?itemid=6312

DEMONSTRATION: To Demand that Governor Granholm
Declare a 'State of Economic Emergency' in Michigan
and Issue an Executive Order for an Immediate Moratorium to Stop All Foreclosures, Evictions and Utility Shutoffs

Location: Thursday, Nov. 20, 4:00 p.m.
State of Michigan Building, Detroit
(formerly the GM Building)
3026 West Grand Boulevard, Between Second and Cass

Contact: Moratorium Now! Coalition to Stop Foreclosures &
Evictions, Central United Methodist Church, 4th
Floor, 23 East Adams, Downtown Detroit, 48226
E-mail: ac6123@wayne.edu or phone: 313.671.3715

Moratorium Now! Coalitions Demands That Gov. Granholm Declare an Economic State of Emergency to Stop Foreclosures, Evictions and Utility Shut-offs

With the possible collapse of the automotive industry, the demand for a declaration of economic emergency in Detroit and throughout the state becomes more imperative. Under Michigan law, the Governor has the authority to provide immediate relief to the tens of thousands of people facing home loss, eviction and the elimination of water, heating and electricity services.

In Detroit, 18% of the housing units are vacant. Thousands of those who remain indoors are facing foreclosure, eviction and are living without water, heat and lights as the weather gets colder. This situation must be addressed by the political leadership of this state!

The Moratorium Now! Coalition to Stop Foreclosures and Evictions is demanding several emergency measures: the immediate passage of SB 1306 which could impose a two-year moratorium on foreclosures. If this cannot be done soon, we are insisting that the Governor issue an executive order to halt all foreclosures, evictions and utility shut-offs.

If these measures are not enacted, the consequences will be catastrophic for the city of Detroit and the state as a whole. Tens of thousands of workers will be laid off from their jobs if General Motors, Chrysler and Ford go bankrupt, which is a strong possibility. In addition, other industries will be severely affected triggering other job losses and a new round of foreclosures, evictions and utility shut-offs.

Join us on Thursday, November 20 at 4:00 p.m. in front of the Cadillac Plaza Building, the headquarters for state government in Detroit. We will demonstrate and demand the Governor take immediate action to save the homes, utility services and jobs of hundreds of thousands of citizens in this state.

The federal government has given $1 trillion to the banks who created the crisis. Nothing has been done to assist the millions who facing economic disaster: foreclosures, evictions, utility shut-offs, unemployment and food insecurity.

We say: "Bail Out the People, Not the Banks!" For more information please contact us at the numbers listed above. Members of the Moratorium Now! Coalition are available for comment to the media. Hear a people's perspective and ask Governor Granholm why she is ignoring the mass suffering of the people of Michigan.