Economic crisis, Dubai, elsewhere

This video says about itself:

17 November 2014

Dubai was hit hard by the global economic crisis in 2009 with major projects halted, but the emirate has since bounced back so what’s next could there be another bubble in the making?

Dubai’s default on $59 billion of foreign borrowings is more than the inevitable product of the gulf state’s property boom. It reflects the continuing fragility of the global financial system: here.

Responses from local food charities to a survey by Feeding America show that hunger has increased rapidly across the US. They paint a devastating portrait of a nation in the throes of a social crisis without parallel since the Great Depression: here.

New York: Wall Street profits soar, education and health care face the ax: here.

On October 23, International Paper announced the closure of three plants, resulting in the loss of 1,600 jobs. Most devastating is the spring 2010 closure of an enormous mill in Franklin, Virginia, which will result in 1,100 job cuts: here.

The new head of General Motors’ European division has announced the company will eliminate at least 9,000 jobs on the continent: here.

Sweden: Koenigsegg pulls out of Saab deal: here.

2 thoughts on “Economic crisis, Dubai, elsewhere

  1. Mammon updating Moses

    Don Sedgfield
    2 December 2009
    Bless-ed be O reverential Economy
    Append another clause to Deuteronomy
    To wit, Mammon updating Moses
    Verily thou needst shit to grow roses,
    On garden spread warm manure
    Draw forth the bloom pure.

    All hail our ubiquitous Economy
    Before whom we bow in all fealty,
    Yes and God bless the free market
    Sweetly swing low shopping basket
    Consuming for to purchase us home —
    Mammon saves, Mammon fertilises soul.

    From: Cultural Dissent, Green Left Weekly issue #820 2 December 2009.


  2. Pingback: Dubai economy collapsing, video | Dear Kitty. Some blog

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