World economic crisis continues

Census figures for 2009, to be released Thursday, will show that the poverty rate soared last year to nearly 15 percent. One out of every seven Americans is now living below the official poverty level, the highest proportion since the 1960s: here.

The number of people in the US who are mired in poverty is on track for a record increase, with the ranks of working-age poor approaching 1960s levels that triggered Lyndon Johnson’s war on poverty: here.

The Obama administration has reacted to news that the US poverty rate has returned to the levels of the 1960s by ruling out any anti-poverty measures: here.

This video from the USA says about itself:

Detroit fire victims charge DTE Energy with negligence.

In a scene reminiscent of the food lines of the 1930s, thousands of Detroiters lined up for free groceries and school supplies on Saturday: here.

More Detroit here. And here.

Seventy-five days into the current fiscal year, the California legislature Governor Arnold Schwarzenegger have failed to reach agreement on a budget, prompting the state to suspend billions of dollars in payments for critical social programs: here.

Greek trade unions led a mass street protest in Thessaloniki on Saturday against the nominally Socialist administration’s drive to sacrifice the national interest at the altar of EU-IMF economic dogma: here.

Anti-government protests in the northern Greek city of Thessaloniki last weekend were met by a massive police response: here.

1 thought on “World economic crisis continues

  1. Cotton costs put pressure on prices

    Economy: Soaring cotton prices threaten to put further pressure on inflation amid a chorus of warnings over the likely impact on price tags.

    Devastating floods in Pakistan – one of the world’s largest producers – and fears over this year’s crop in China have sent cotton prices surging to 15-year highs in recent weeks.

    High-street fashion giants Primark, Next and Debenhams have flagged cost pressures as tightening global supplies threaten to push up prices.

    Men ‘more likely to be jobless’

    Unemployment: Men are more likely than women to become unemployed but remain out of work for a shorter period of time, according to a new report.

    The Office for National Statistics said men are 3 per cent more likely to become jobless, with labourers, waiters and cleaners having an above-average chance of being on the dole.

    People from ethnic minorities have a higher chance of being unemployed, while 18 to 24-year-olds are more likely to be out of work than people in the 35 to 49 age group.


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