Trade Unions Demand Effective Responses to Worsening Financial and Food Crises
With the spreading financial crisis likely to take center stage at the upcoming annual meetings of the World Bank and IMF in Washington on 11-13 October, the global trade union movement is urging the international financial institutions (IFIs) not to overlook the millions of low-income workers whose buying power has declined drastically because of food and fuel price hikes.
RECESSION
In what hidey-hole is economic growth going to take refuge, amid this unprecedented financial crisis? France is now in a recession according to the latest figures from the French National Institute for Statistics and Economic Studies.
McCain Mortgages Presidential Ambitions on Faulty Housing Plan
John McCain's late arrival to the economy debate this week with another plan to address the housing crisis is meeting with derision, across the political board. It has been seen more as a political stunt to cover for months of pretending the 'fundamentals of the economy are strong.'
Financial Crisis in Europe: Alternatives Demanded
At a news conference in Luxembourg, the communist parties from Belgium, the Netherlands, and Luxembourg this week called for a new financial institution that will serve the interests of the people, not maximum profits.
Is this Capitalism’s End of Days?
The economic crisis continues to escalate and it is a crisis of the capitalist system as the system has devolved in the US and globally in recent decades. It is not a crisis of “Wall Street” aka the stock market or “finance” aka the banks.
Book Review: Wall Street – America’s Dream Palace
With the United States bailout package now through Congress, Steve Fraser’s extended essay Wall Street – America’s Dream Palace provided an interesting diversion from the many possible realities that may yet arise.
US Crisis Affects Central America
The US financial crisis has increased unemployment, reduced money remittances from abroad and affected Central American exports to that country, despite the Free Trade Agreement, according to the Secretariat of Central American Economic Integration.
Truth About McCain and Taxes Doggone It
The McCain campaign struggled to present a coherent message on taxes this past week. During the vice presidential debate, Thursday, Oct. 2, Sarah Palin said, 'Barack Obama had 94 opportunities to side on the people's side and reduce taxes...'
Failing Economy Slams Workers Hardest
John McCain was right about one thing. Jobs are being lost. This week the Department of Labor reported that 159,000 American workers lost their jobs in September, a five-year record. The Labor Department reported the ninth straight month of job losses, approaching 800,000 lost jobs in 2008.
Guide to Bush-McCain Crisis, Week 3
The week of September 29th, 2008 opened with the failure in Congress of the Bush bailout plan. Ongoing opposition to a Wall Street bailout without preconditions may have major repercussions. Read below.
