Economic troubles continue


This video from the USA says about itself:

The World Socialist Web Site interviewed workers and professionals in Detroit about the worsening social conditions as gas prices and food prices soar through the roof. Brother Jerry Smith, director of the Capuchin Soup Kitchen in Detroit spoke to the WSWS about the huge need for food in the city.

The economic crisis continues.

From the USA: Housing crisis accelerates blight in Detroit neighborhoods.

3 thoughts on “Economic troubles continue

  1. John Bellamy Foster: Monopoly finance capital and the crisis

    Interview with John Bellamy Foster for the Norwegian daily Klassekampen
    (posted from MRzine
    with permission), conducted on October 15, 2008.
    Klassekampen: Is the credit crisis a symptom of overaccumulation of
    capital? It seems to me that investments worldwide, but especially in
    the United States, were funneled into the traditionally “safe” housing
    market following the bursting of the dotcom bubble. This overinvestment
    in turn generated a new bubble, thus causing today’s havoc. Is this correct?

    * Read more http://links.org.au/node/687

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  2. United States: The financial calamity, African Americans and Obama

    By Malik Miah
    October 8, 2008 — The deepening financial calamity exposes how the
    “fundamentals” of the economy impact on working people, particularly
    African Americans. The so-called unfettered free market system has been
    a failure. The issue of the economy has given the presidential campaign
    of Barack Obama, the first Black candidate for a major party, a big
    boost. After eight years of Bush-Cheney, Obama should be a shoo-in.
    Democrats are expected to garner big majorities in the Senate and the
    House of Representatives.

    * Read more United States: The financial calamity, African Americans and Obama

    By Malik Miah
    October 8, 2008 — The deepening financial calamity exposes how the
    “fundamentals” of the economy impact on working people, particularly
    African Americans. The so-called unfettered free market system has been
    a failure. The issue of the economy has given the presidential campaign
    of Barack Obama, the first Black candidate for a major party, a big
    boost. After eight years of Bush-Cheney, Obama should be a shoo-in.
    Democrats are expected to garner big majorities in the Senate and the
    House of Representatives.

    * Read more

    Final declaration of the International Political Economy Conference:
    Responses from the South to the Global Economic Crisis

    October 11, 2008 — Academics and researchers from Argentina, Australia,
    Belgium, Canada, Chile, China, Cuba, Ecuador, France, Mexico, Peru,
    Phillipines, South Korea, Spain, United Kingdom, United States, Uruguay
    and Venezuela participated in the International Political Economy
    Conference: Responses from the South to the Global Economic Crisis, held
    in Caracas October 8-11, 2008. The conference stimulated a wide-ranging
    debate on the current economic and financial health of the global
    economy, the new perspectives and the challenges to the governments and
    peoples of the South posed by the international financial crisis.
    The meeting concluded that the situation has worsened in the last few
    weeks. It has progressed rapidly from being a series of crises in the
    financial markets of countries in the centre and has turned into an
    extremely serious international crisis. This means that countries in the
    South are in a very difficult situation.
    The crisis threatens the real economy and, if energetic and effective
    actions are not taken immediately, all peoples in the world could be
    drastically punished; especially the least-protected and most-neglected
    sectors.

    * Read more http://links.org.au/node/690

    Final declaration of the International Political Economy Conference:
    Responses from the South to the Global Economic Crisis
    http://links.org.au/node/690

    October 11, 2008 — Academics and researchers from Argentina, Australia,
    Belgium, Canada, Chile, China, Cuba, Ecuador, France, Mexico, Peru,
    Phillipines, South Korea, Spain, United Kingdom, United States, Uruguay
    and Venezuela participated in the International Political Economy
    Conference: Responses from the South to the Global Economic Crisis, held
    in Caracas October 8-11, 2008. The conference stimulated a wide-ranging
    debate on the current economic and financial health of the global
    economy, the new perspectives and the challenges to the governments and
    peoples of the South posed by the international financial crisis.
    The meeting concluded that the situation has worsened in the last few
    weeks. It has progressed rapidly from being a series of crises in the
    financial markets of countries in the centre and has turned into an
    extremely serious international crisis. This means that countries in the
    South are in a very difficult situation.
    The crisis threatens the real economy and, if energetic and effective
    actions are not taken immediately, all peoples in the world could be
    drastically punished; especially the least-protected and most-neglected
    sectors.

    * Read more http://links.org.au/node/690

    Like

  3. Free download: Marxist Economics — A handbook of basic definitions

    This handbook is not, of course, a substitute for the study of Marxist
    political economy, but an aid to that study. It will perhaps prove most
    useful as an aid to review. It was first developed for the Fourth
    International’s cadre school in Europe. It was subsequently also used by
    the Democratic Socialist Party in its cadre school. Along the way, many
    of the definitions and explanations were modified to take account of
    students’ difficulties or further questions.

    * Read more http://links.org.au/node/686

    Don’t pay for a failed system

    By Tony Iltis
    October 11, 2008 — “Meltdown” is a word that one hears a lot on the
    news these days.
    Despite the US$700 billion government bailout of banks in the US,
    similar (albeit smaller) bailouts in Europe, and various forms of state
    intervention in the finance industry on both sides of the Atlantic,
    sharemarkets worldwide are in free fall. Comparisons with the Great
    Depression of the 1930s are common. Homelessness and unemployment are
    rising and are set to increase dramatically.
    Meanwhile, more quietly but even more relentlessly, another meltdown is
    occurring: that of the polar icecaps. According to the Western world’s
    establishment politicians and corporate media, the way to avert
    catastrophic climate change lies in setting up elaborate emissions
    trading schemes and carbon markets: that is, relying on precisely the
    mechanisms that have created the economic meltdown!

    * Read more http://links.org.au/node/685

    Like

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