Economic crisis in North America


Financial crisis, cartoon

The economic crisis continues.

The recent spate of better-than-expected earnings reports by major US banks is a testament, not to a strengthening of the basic economy as a result of the government’s bailout program, as the Obama administration would have the American people believe, but to the undiminished rapaciousness of the bankers: here.

USA: The city of San Diego, California has imposed multi-million dollar cuts on city workers’ pay and benefits. In most cases the cuts were carried out through negotiations with unions supposedly representing the workers: here.

The good nutrition news is that children in poor, rural parts of the Lower Mississippi Delta are a lot more willing to try fresh fruits and vegetables than generally believed, even by their parents or the kids themselves. The bad news is that such foods are often in short supply in an area where gas stations and convenience stores are the closest places to buy food and where growing family gardens has given way to long work commutes by parents: here.

Canadian Industry Minister Tony Clement has threatened to drive Chrysler into bankruptcy if the Canadian Auto Workers (CAW) union does not agree by April 30 to slash labour costs at the automaker’s Canadian operations by $19 an hour or 25 percent: here.

2 thoughts on “Economic crisis in North America

  1. Pingback: Iraq war, corporate greed, caused economic crisis | Dear Kitty. Some blog

  2. Pingback: Protest songs on capitalism | Dear Kitty. Some blog

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