Economic crisis from the USA to Dubai

The Dubai debt default demonstrates the fragility of the so-called recovery and the level of dependence of developing countries on US monetary policy: here.

This video from the USA is about a single payer health care system.

Large numbers of people in the US will lose federal medical insurance assistance with the expiration of a $25 billion program included in the 2009 stimulus bill: here.

USA: As state tax revenue continues to fall with no end in sight, lawmakers are responding by deepening cuts to social programs, education, and government jobs. Unlike previous recessions, most cuts enacted now will not be reversed: here.

WE, THE undersigned individuals and organizations, would like to express our solidarity with the college students currently protesting 32 percent tuition hikes at California’s public universities. As activists who believe in young people’s ability to fight for change, this is precisely the kind of civic engagement we strive to achieve: here.

Police at the University of California, Berkeley, have arrested scores of protesters who had taken over parts of a campus building for the past week in protest at student fee increases: here.

In an extended interview, we speak with former New York governor Eliot Spitzer about the financial crisis and how it was handled by Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner. Bernanke and Geithner “actually built and participated in creating the structure that now has collapsed,” Spitzer says and calls on them to be replaced: here.

The UN warned on Thursday that the world’s poorest states are especially hard hit by the global financial crisis and will feel its impact for years to come: here.

Steamy Text Messages Lands Couple In Dubai JAIL: here.

THEY were intended as the ultimate luxury possession. But ”The World”, the man-made islands off the coast of Dubai shaped like the countries of the globe, are sinking, a property tribunal has heard: here.

1 thought on “Economic crisis from the USA to Dubai

  1. * DECEMBER 8, 2009, 8:35 A.M. ET

    Nakheel’s $12 Bln Dubai Palm Island May Sink, Flood -Surveyor

    By Alex Delmar-Morgan


    DOHA (Zawya Dow Jones)–Dubai World’s troubles aren’t limited to its $26 billion debt pile after a surveying expert said Palm Jumeirah, the landmark development of its real estate unit Nakheel, may be sinking into the Persian Gulf.

    The island, dredged from the Gulf’s seabed, is sinking by an average of 5 millimeters a year and may flood in the future if ocean levels rise, according to an executive at leading European ground survey company Fugro NPA Ltd.

    “We’re seeing across the island at a number of locations ground is moving downwards,” Adam Thomas, InSar surveying project manager at Fugro, told Zawya Dow Jones on Tuesday in an interview in Doha, Qatar. “In future, sea levels are predicted to rise and if this goes on then it could pose a flood risk.”


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