Economic crisis

The US economy lost fewer jobs in November than in any other month since the recession began, according to the Labor Department. But overall economic conditions continue to worsen for the majority of the population, with wages falling and no return to normal job conditions in sight: here.

Last month Spain’s ex-Popular Party (PP) prime minister, José María Aznar, gave a lecture to the London School of Economics (LSE) outlining his proposed solutions for the economic crisis: here.

2 thoughts on “Economic crisis

  1. December 12th
    Los Angeles March for Jobs

    Jobs March!

    Endorse or Volunteer at Donate at

    100s of billions are being spent on imperialist wars and occupations in Afghanistan and Iraq, but as Martin Luther King pointed out, the bombs also fall on poor communities in the U.S in the form of deepening poverty. This is true across the country, but especially true in California – slammed by the twin crises of skyrocketing unemployment and a resulting state budget crisis that is prompting deep cuts in badly needed services. Students at UC campuses are fighting to reverse a whopping 32% increase in tuition, home foreclosures are still on the rise, and communities of homeless people are cropping up in rural areas and in cities across the state. The media keeps calling it recovery, but the jobs are just not coming back.

    The Bail Out the People Movement in Los Angeles is planning a wake-up call to the powers that be on December 12th at Pershing Square Park to say that we will not tolerate continued funding of wars and bailouts of billionaire bankers. The bankers are the ones responsible for this crisis!

    Congress and the White House can be weakened and bullied by powerful corporations, but a united movement of unionists, immigrants, students, – all working class people – can win the massive jobs program that is needed. We need your help!

    Join us in building a movement that demands Jobs or Income Now! – Not War! Join the March for Jobs on December 12th in Los Angeles. Meet downtown at Pershing Square Park at 12 noon, and march to Bank of America Plaza, at 333 Hope Street.

    Call (323) 306-6240 or email for more information or to volunteer to help build the Dec 12, 2009 action.

    To endorse the Dec 12 action in Los Angeles or to volunteer to help organize:

    To endorse the call for a National Jobs Protest April 10, 2010:

    To donate: and click the donate button

    To find out about the April 10, 2010, Washington, D.C. National March for Jobs on the 75th Anniversary of the WPA, go to To be an early endorser of this important national demonstration, go to!

    for more information:
    Bail Out the People Movement

    Los Angeles Office:
    5274 W. Pico Blvd. Los Angeles Rm# 205
    (7 blocks West of La Brea)
    (323) 306-6240

    National Office:
    Solidarity Center
    55 W. 17th St. #5C
    New York, NY 10011


  2. >>>>>> Lenihan slashes public pay, social welfare, sets new taxes

    The Dublin government’s Finance Minister Brian Lenihan has this
    afternoon announced the harshest budget in the history of the 26 County
    state. He said the cuts and taxes announced today would “send a signal
    to the rest of the world that we are able and willing to put our house
    in order.”

    Mr Lenihan revealed that the fall in the 26 County state’s GDP of 7.5%
    this year was the largest since records began, and that GDP would
    continue to fall next year.

    In his third announcement of draconian cuts in little over a year, Mr
    Lenihan announced a billion euro in pay cuts for public service workers,
    ranging from 5 per cent for those on average pay to 15 per cent for the
    highest earners.

    Blaming the need for cutbacks on a “traumatic” recession, Lenihan made
    only passing reference to the government’s recently passed 54 billion
    euro bailout for bank shareholders and real estate speculators via the
    NAMA ‘bad bank’. He also made no mention of a plan to pump a further
    five billion euro into the nationalised Anglo Irish Bank.

    The cornerstone of the budget was the billion euro in cuts to the
    salaries of public service workers. He announced public sector pay
    cuts of 5% on first 30,000 euro salary, 7.5% on the following 40,000
    euro and 10% on the next 55,000 euro. Those earning up to 200,000 euro
    will face a 12% pay cut, and 15% off those earning in excess of that

    A ‘universal social contribution’ is to be introduced to combine social
    insurance tax and the recently introduced health and income levies.

    In a surprise move, all Irish nationals — regardless of where they live
    — are to be charged a levy of 200,000 euro per year if their worldwide
    income is above a million euro and maintain significant assets in the 26

    A carbon tax of 15 euro per tonne will mean a price hike of between 3%
    to 5% on fuels such as petrol, diesel, heating oil and natural gas.

    The tax will apply to petrol and diesel from midnight tonight and to
    other fuels from next May.

    Lenihan confirmed that water charges will be introduced and indicated
    that property taxes will follow once property valuations have been

    Turning to social welfare, a cut of over 4% is to be broadly applied,
    although allowances for new applicants for job seekers allowance and
    supplementary welfare for those aged between 20 and 24 will be sharply

    Those between 20 and 21 will see benefits cut to 100 euro per week and
    150 euro per week for those aged between 22 and 24.

    He also announced a 16 euro cut in child benefit and a 50 cent increase
    on prescriptions under the medical card scheme.

    Mortgage interest relief is to be abolished entirely by 2017.

    An unusual new plan to provide discounted rail transport to pensioners
    from overseas was touted as a plan to boost the ailing tourist industry.
    Fro the motor industry, he revealed a car scrappage scheme to lower
    vehicle registration taxes for those scrapping a car more than ten years

    In a nod to the threat to the southern economy from cross-border
    shopping, the minister announced a reversal of the most recent hike in
    VAT sales tax, dropping VAT reates by half a per cent to 21 per cent
    from January.

    One note of Christmas cheer is the reduction in excise on alcohol of 12
    cents per pint of beer or cider from January.

    He has also anounced a 14 cent cut in the price of a half glass
    ofspirits and 60 cents off a bottle of wine.

    Mr Lenihan warned vintners to “play their part in making cost of alcohol
    more competitive” and said if reductions were not passed on that he will
    reverse them. There would no change in tax on cigarettes, he added.

    Inishing on an upbeat note, Mr Lenihan urged the 26-County public to
    recover their “optimism and belief in themselves” and declared the state
    had “turned the corner”.

    Speaking in advance of today’s budget announcement, Sinn Fein President
    Gerry Adams has said that the Dublin government’s solution to the
    economic crisis would further depress the Irish economy.

    He said that now more than ever Ireland needed political leadership
    based on the republican values of fairness, decency and equality “the
    values that were missing in the corridors of power during the ‘Celtic
    Tiger’ years.

    “And they are still missing in the corridors of power. But these are the
    values of the vast majority of the Irish people.”

    “And what are the so-called solutions of the Fianna Fail/Green
    Government to the economic crisis? They are bailing out the developers
    and the banks with tens of billions of taxpayers’ money through NAMA,
    they are cutting health and education services again and they are about
    to cut social welfare. Their so-called solutions will depress the
    economy further, target the most vulnerable and put future generations
    in massive debt.

    “But there is an alternative and Sinn Fein has put it forward. We have
    shown in our Pre-Budget 2010 proposals that it is possible to raise the
    finance needed to maintain frontline public services, protect those in
    need, reduce the deficit in state finances and provide an economic
    stimulus package to create jobs.

    “All this year people have been on the streets campaigning for a fairer,
    better way out of the economic recession. Sinn Fein’s task is to show an
    increasingly politicised population that the way forward does not lie
    with a conservative Fine Gael government propped up by Labour any more
    than it lies with a conservative Fianna Fail government propped up by
    the Greens.

    “We need a new type of politics based on community, on solidarity and on
    the republican values of fairness and equality. ‘Me feinism’ has failed.
    It is time for Sinn Feinism.”

    Irish Republican News


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