Economic problems continue


This video from the USA says about itself:

Richard Wolff a professor of economics at UMass Amherst talks on the current “financial” crisis and capitalism in general.

The economic crisis continues.

Plant closures, layoffs mount in US and Europe: here.

US bank losses wipe out years of paper profits: here.

US infant mortality rate now worse than 28 other countries: here.

Australian government props up banks as signs of a deep global recession emerge: here.

Britain: Brown government caves in to banks’ demands: here.

Also in Britain: Hundreds of thousands of civil servants, members of the Public and Commercial Services Union (PCS), have voted overwhelmingly for strike action over pay.

Correspondence on the economic crisis: here.

Wall Street banks in $70bn staff payout: here.

Wall Street: Demonstrators protesting in New York before the $700bn Wall Street bail-out earlier this month. Photograph: Nicholas Roberts/AFP/Getty images

[London] City bankers have not lost a penny of their multimillion-pound bonus packages so far, despite the credit crunch which has caused the worst financial crisis in 80 years, new figures show: here.

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