Global Recession: Protectionism and Diversification in the US and South America
As the G-20 meeting is about to begin in London, the outlook for Latin American growth in 2009 is grim, as the tempo of foreign direct investment ( FDI) and loans stand-by credits and development funds plummet, the demand for commodities diminish, and foreign remittances plunge.
Buy American and the Recovery Program: Now What?
In February 2008, the US Air Force stunned the aerospace industry, many members of Congress, and thousands of Boeing workers in Washington State and Kansas when it awarded its $35 billion contract to build a midair refueling tanker to the European Aeronautic Defense and Space Company and Northrop Grumman.
Can the Populist Upheaval Take a Working-Class Turn?
The populist over outrage over AIG bonuses, and bailouts that seem to payoff the perpetrators of the financial crisis while millions are left out of work with no medical benefits, and unemployment benefits that are running out, or will run out long before job growth returns – is heading towards a social and political, not just economic, tipping point.
Equality Index Shows Growing Gap Between Blacks and Whites
In its recently published annual report titled 'The State of Black America' for 2008 and 2009, the National Urban League reported a growing equality gap between African Americans and whites.
The Dance of the Trillions to Shore up Banks, Bankers, and Gamblers
After ten years of wholesale financial deregulation, bad policies and unsound banking practices, and facing a worsening recession, over the last year and a half the US government has been pumping trillions of dollars in order to deleverage and recapitalize banks that were on the brink of insolvency.
What More in the Name of Love?
United for Peace and Justice (UFPJ), the largest coalition of peace groups in the United States, is organizing a national march on Wall Street on Saturday, April 4, to 'End the Wars in Iraq and Afghanistan and Address the Economic Crisis by Cutting Military Spending.'
'Bushville' Grows Near Sacramento, CA
On one side of the American River in downtown Sacramento, foundations and media organizations have comfortable offices with views of the water. On the other side, a homeless camp sits beside the railroad tracks next to the huge Blue Diamond almond processing plant.
Republicans Block House Measure on AIG Bonuses
House Republicans, Thursday March 19, blocked a resolution that expressed congressional outrage over the AIG bonus fiasco, demanding a return of the funds paid to AIG executives.
Sanctity of Contracts (for CEOs Only)
A fundamental legal principle of capitalism is the sanctity of contracts. Exchanges of goods and services cannot be made without them. Without legally binding contracts, society would be an anarchic mess.
People to G-20: End Casino Capitalism
Leaders of G-20 countries will meet in London on April 2 to discuss ways to respond to the global financial and economic crises. At issue is how to strengthen international oversight and regulation of financial institutions.
