World economic crisis

Economic crisis, cartoon

A new batch of economic data released Thursday reaffirms that the world economy is slowing rapidly: here.

U.S. Adds Zero New Jobs In August As Jobless Rate Stuck At 9.1 Percent: here.

Zero Job Growth In August, as Unemployment Rate Remains Stable: here.

“Since the recession officially ended, the American economy has lost nearly 600,000 government jobs”: here.

Thousands line up for jobs fair in Los Angeles: here.

Working-age adults now make up record share of U.S. poor: here.

France announces emergency budget: here.

Britain’s bosses have almost trebled their average annual bonuses over the past decade while still calling for tougher anti-strike laws to keep ordinary workers pay demands down: here.

Record levels of British women facing insolvency: here.

2 thoughts on “World economic crisis


    If progressives, who for the most part pretty much advocate for democracy and a level playing field for the economy, are going to be accused of being radical socialists, why not have at it and restrict individual acquisition of wealth in the US to one billion dollars?

    Now, already you can hear the outraged squawking from the right-wing media echo chamber about how treasonous and un-American such a proposal would be. But as a recent commentary pointed out in Mother Jones, the right wing gets away with proposing wholesale changes in the Constitution, the suppression of voting rights, the end of the direct election of senators etc., and the candidates proposing such radical extremist measures are still regarded by the media as “serious” contenders.

    Yet, if an American advocates for increased pay for workers and more manufacturing and less Wall Street manipulation of financial “paper,” they are labeled as followers of Lenin.

    So, take a look at the latest Forbes list of the 400 wealthiest Americans. The top ten include Bill Gates, Warren Buffet, the Koch brothers, the Walton (Wal-Mart) family and Michael Bloomberg (with a measly $18 billion in net worth).

    So, if progressives who simply advocate democracy, compassion and economic fairness are going to be called fringe ideologues – while right-wing John Birchers on steroids are now considered within the mainstream – then maybe it’s time to push the edge of the envelope.

    Maybe the counterpoint to a Rick Perry or Michele Bachmann or Eric Cantor is to put on the table limiting individuals to the accumulation of no more than $1 billion in personal assets. Any funds beyond that would be fully taxed and used to underwrite a national infrastructure, job training and an alternative energy development bank run by the US Department of the Treasury.

    If Perry can advocate secession for Texas from the US, then it’s about time to formally propose that wealth and greed should have its limits in order to help America move forward.

    Mark Karlin
    Editor, BuzzFlash at Truthout


  2. Pingback: Economic crisis, workers fight back | Dear Kitty. Some blog

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