Economic crisis


Financial crisis, cartoon

The economic crisis continues.

US industrial production fell in February for the fourth consecutive month. Output contracted in ten out of the last twelve months, according to figures released Monday by the Federal Reserve: here.

California: Thousands of unemployed workers line up at San Diego jobs fair: here.

New York Times columnist Andrew Ross Sorkin argued Tuesday for paying American International Group (AIG) executives some $165 million in bonuses: here.

As a result of the worldwide capitalist crisis, Latin America’s economies have suffered a massive drop in exports, production and consumption, resurrecting old fears of the continent’s countries going into default: here.

Britain: The Guardian was subject to a court injunction forcing it to withdraw documents said to reveal extensive tax avoidance by Barclays Bank: here. See also here.

Britain: Today marks the 10th anniversary of Tony Blair’s promise to eradicate child poverty by 2020, but about 30% of children remain beneath the breadline. Amelia Gentleman reports: here.

FEBRUARY’S record rise in the jobless total could soon see new Labour presiding over a level of unemployment even higher than in the Thatcher era, union leaders suggested on Wednesday: here.

FURIOUS left MP John McDonnell warned on Wednesday that Britain’s growing army of unemployed will face “brutal” attacks after the government gained Commons approval for its Welfare Reform Bill: here.

Unemployment in Turkey has risen to record levels, with many branches of industry in free-fall: here.

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