Economic crisis worsens, but not for fat cats

Demonstration against British government economic policies

From British daily News Line:

Thursday, 1 September 2011

HOUSING CRISIS! Middle classes will be on the streets

HOMELESSNESS is spreading to the middle class, homelessness charity Crisis is warning, as mass sackings of public sector workers along with the government’s onslaught on welfare benefits lead to a ‘flood’ of people on the streets.

In a report to be published next week, Crisis states: ‘Any significant reduction of the welfare safety net in the UK as a result of coalition reforms may, of course, bring the scenario of middle-class homelessness that much closer.’

See also here.

The austerity measures being imposed by the UK government, combined with a worsening jobs crisis, are producing serious hardship for working class families: here.

Britain: Over a quarter of graduates are not in full-time work three and half years after leaving university, new figures revealed today: here.

USA: CEO Pay Exceeds Company Tax Bill at Major Corporations: here.

Telecommunications giant Verizon, which is demanding huge concessions from its workers, is one of the corporate giants that paid less in US taxes in 2010 than they paid to their chief executive officers: here.

USA: Among symptoms of deep social decay are the slashing of legal aid funding, dire overcrowding in an Alabama jail and the plight of poor New Orleans residents six years after Hurricane Katrina: here.

Budget shortfalls in California make likely further cuts at all levels of public education, causing tuition increases at universities and a push for charter schools in K-12: here.

This video from Australia says about itself:

Students and youth in the city of Wollongong on the New South Wales south coast spoke with World Socialist Web Site reporters this week about poverty, unemployment and the impact of BlueScope Steel’s recent decision to shut down its export division and destroy up to 1,100 jobs at its Port Kembla plant.

2 thoughts on “Economic crisis worsens, but not for fat cats

  1. Pingback: Crisis, but not for fat cats | Dear Kitty. Some blog

  2. Pingback: World economic crisis | Dear Kitty. Some blog

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