The Economic Crisis: Greed is the Cause
Everyone is now accustomed to hearing that the financial crisis in the United States and in Britain was caused by American financial institutions lending money to unsafe borrowers for buying houses.
Mexico City Residents Reject Oil Privatization
The overwhelming rejection of the Mexican Calderon administration's energy reform, which included the privatization of Mexico's oil industry, expressed by referendum on Sunday July 27, continued to hold the country's political attention this week.
The Three Crises
It has never happened before. For the first time in modern economic times, three major crises – affecting finances, energy and food – are coinciding, coming together and merging. Each interacts with the others, exponentially worsening the deterioration of the real economy.
Venezuela’s Chavez Approves $566 Million in Infrastructure Projects
Venezuelan President Hugo Chavez approved funds for the construction of a series of new infrastructure projects on his Sunday talk show Aló Presidente yesterday.
President Lula Underlines Good Performance of the Brazilian Economy
Brazilian president Lula da Silva underscored the good indicators of the Brazilian economy in spite of the world crisis and soaring food prices and said his administration’s policy is to increase production to combat inflation.
Cuba Reforms its Food Production Process
Since coming to power, and even before, the Cuban revolution has been characterized by its pragmatism within the context of very firm ethical principles. Undoubtedly this ability to correct errors and negative tendencies, without losing sight of the fundamental path, has been a big factor in the survival of the Cuban vision of social revolution.
Free Trade and WTO’s Round of Negotiations at Doha
The WTO negotiations have turned into a fight by developed countries to open markets in developing countries to favor their big companies. The agricultural subsidies in the North, which mainly go to agricultural and food companies in the US and Europe, will not only continue but will actually increase, as demonstrated by the 2008 Farm Bill in the United States.
Mac the Knife: Cut the Needy to Feed the Greedy
An unprecedented discussion is sweeping the country about how to change direction for the common good. Tens of thousands of union members are knocking on the doors of millions of co-workers and their families to talk about the issues.
Campaign Calls for Living Wage by 2010
The federal minimum wage is due to increase today, July 24, to $6.55 per hour. Passage of the increase was one of the first accomplishments of the new Democratic-controlled Congress, and the wage is scheduled to rise again next summer to $7.25.
Democrats Vow Second Stimulus Package
In the face of the latest disturbing economic news, congressional Democrats are crafting a second stimulus package, according to AFSCME's GreenLine Blog. Discussions on how to proceed with a new stimulus package began this week with meetings between Democratic leaders and economists.
