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Tag: Crisis


Alexander Ishchenko / Shutterstock.com

Ukraine and Russia Have Created an International Disorder

An international disorder unmatched since the interwar 1930s has been created by the drama of Ukraine and the Russians, combined with the inherent self-destructive forces of the Israeli-Palestinian conflict, the developing civil war over theological as well as political issues inside the Islamic states, and the serious risk of collapse in the European Union.

Posted on Apr 8, 2014 READ MORE



By the Way, Your Home Is On Fire

People in power and bureaucrats seem exceptionally obtuse when it comes to recognizing that the world has changed and the old rules no longer apply.

Posted on Mar 13, 2014 READ MORE


Bankers Brought to Justice

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Posted on Jan 6, 2014 READ MORE



KPFK

Chris Hedges Talks With Sonali Kolhatkar

In advance of his talk in Santa Monica this Sunday, the Truthdig columnist spoke with the host of KPFK’s “Uprising” about how the ongoing government shutdown “is illustrative of an entire system that is unraveling.”

Posted on Oct 11, 2013 READ MORE


Crisis

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Posted on Oct 6, 2012 READ MORE



Anuska Sampedro (CC-BY)

Spanish Workers Strike to Protest Reforms

Strikers all but halted road, rail and air services in Spain on Thursday as part of a one-day general strike against austerity measures imposed by Prime Minister Mariano Rajoy’s recently elected conservative government.

Posted on Mar 29, 2012 READ MORE



Contando Estrelas (CC-BY)

More Austerity Coming to Spain

Spain announced a package of spending cuts and tax increases Friday after the new government said the budget shortfall is deeper than the outgoing administration had led it to believe. Meaningful structural reforms have yet to be proposed, and the full extent of the cuts is unlikely to be made known until after regional elections in late March.

Posted on Dec 31, 2011 READ MORE



AP / Geert Vanden Wijngaert

Brussels Summit Will Not Avert Eurozone Crisis

At the close of an economic summit that appears to have failed to rescue Italy, Spain and more of Europe from sinking deeper into a mire of recession, Guardian economics editor Larry Elliott prefigures the collapse of the euro as a unifying currency of the European Union. (more)

Posted on Dec 10, 2011 READ MORE



Andrew . Walsh (CC-BY)

A Major Bump in the Road

Much rides on America’s highways, vital arteries in the movement of people and goods. The problem is, the roads are crumbling at a time when money to fix them is hard to come by. (more)

Posted on Nov 16, 2011 READ MORE



Flickr / Images_of_Money

As Another Crisis Looms, a Case for the Euro and Collective Action

In the discussion over how to solve Europe’s financial crisis, opponents of the euro argue “that it is a monetary straitjacket and that the best reform now would be its breakup.” Not so, says Will Hutton, author, columnist and former editor-in-chief of The Observer. (more)

Posted on Sep 21, 2011 READ MORE



The Dirty Secret of the Jobless Recovery

Have you ever asked yourself what makes a “jobless recovery” possible? Since the beginning of the recession, American companies have trimmed their staffs and shifted work to remaining employees, largely without increasing pay, and those workers are not reaping the benefits. (more)

Posted on Jul 3, 2011 READ MORE



Flickr / Protest Photos1

N.Y. Attorney General Wants Answers From Big Banks

Homing in on mortgage-backed securities, New York Attorney General Eric Schneiderman has requested records from Bank of America, Morgan Stanley and Goldman Sachs as part of a broad investigation into the causes of the financial meltdown of 2008. (more)

Posted on May 17, 2011 READ MORE



news.bbc.co.uk

World Bank President Sounds a Warning

With rising food prices and soaring unemployment wreaking havoc across the developing world, World Bank President Robert Zoellick has some dreary news, declaring that the world is “one shock away from a full-blown crisis.”

Posted on Apr 17, 2011 READ MORE


Butts
Wikimedia Commons

Arizona Wants to Punish Bad Health Habits

Budget-strapped Arizona is looking for new ways to pinch pennies. Now the state’s Medicaid agency is proposing to smack smokers and diabetes patients who ignore doctors’ orders with special $50 annual fees.

Posted on Apr 3, 2011 READ MORE



news.bbc.co.uk

Showdown Takes Shape in Ivory Coast

The West African nation of Ivory Coast is under crisis as troops supporting the United Nations-recognized president, Alassane Ouattara, move for a final push to oust Laurent Gibagbo, the sitting president.

Posted on Apr 1, 2011 READ MORE


Euro symbol
AP / Daniel Roland

EU Moves to Shore Up Bailout Fund

European Union financial officials meeting in Brussels have agreed on the setting up of a permanent bailout fund, even as Portugal reportedly teeters on the precipice of financial collapse.

Posted on Mar 25, 2011 READ MORE


Richard Fuld Jr.
World Economic Forum / Remy Steinegger

Lehman Execs May Escape Charges

Officials at the SEC have begun to doubt that the agency can prove that executives of the now-defunct Lehman Brothers investment bank broke the law after the company allegedly moved billions of dollars off its balance sheet.

Posted on Mar 12, 2011 READ MORE



AP / Andy Manis

Wisconsin Governor Moves to Gut Public Sector Unions

Gov. Scott Walker in cash-strapped Wisconsin is pretty sure he’s doing the right thing in trying to ram through a bill ending collective bargaining rights for most public employees. But, just in case, he’s putting the National Guard on alert.

Posted on Feb 12, 2011 READ MORE


Warhol painting
AP / Sang Tan

GDP Logs a 3.2% Rise in 4th Quarter

Even though it fell short of economists’ expectations, a 3.2 percent rise in the GDP during the last quarter of 2010 has rekindled hopes that the U.S. economy may be moving toward sustainable recovery.

Posted on Jan 28, 2011 READ MORE



AP

Riots Rock Algeria Over Prices, Jobs

Protests erupted in the Algerian capital of Algiers and several other cities this week as people took to the streets over a doubling of food prices and a stubborn 25 percent unemployment rate.

Posted on Jan 7, 2011 READ MORE



AP / Manu Fernandez

A Crisis Economy of Language

With the world economy still wallowing in crisis and social services being cut across poor and rich nations alike, it’s not surprising that the winner of Merriam-Webster’s annual “Top Ten Words of the Year” for 2010 is … austerity.

Posted on Dec 26, 2010 READ MORE



AP / Schalk van Zuydam

Dueling Presidents in Ivory Coast

In an electoral equivalent of the game of chicken taken to the extreme, two candidates for the Ivory Coast presidency have both sworn themselves in, claiming the post for their own and sparking a major political crisis in the West African country.

Posted on Dec 4, 2010 READ MORE


Unemployment
Flickr / getfrank.

Joblessness Ticks Higher in November

Like a recalcitrant and over-sugared child, U.S. unemployment figures just won’t settle down. The country’s jobless rate ticked up to 9.8 percent in November, a world away from economic recovery.

Posted on Dec 3, 2010 READ MORE



AP / Peter Morrison

Irish Take to the Streets

Tens of thousands of people took to the Irish streets Saturday to sound off against an IMF-backed austerity plan that would usher in deep spending cuts and higher taxes.

Posted on Nov 27, 2010 READ MORE



youtube.com

Soccer Star Boots the Banks

While European economies stutter and protests in a number of European countries continue to go unanswered, it’s almost hilarious that we may turn to 1990s soccer sensation Eric Cantona for help. A Cantona interview has become a YouTube sensation, launching an online political movement based on non-participation within capitalism.

Posted on Nov 21, 2010 READ MORE



AP / Peter Morrison

$50 Billion for Irish Bailout

Although it may sound like a delicious alcoholic beverage rather than a $50 billion rescue of Ireland’s capitalist apparatus, an Irish bailout by the International Monetary Fund, the European Commission and the European Central Bank is being discussed as the island country reels from debt and failed banks.

Posted on Nov 19, 2010 READ MORE


Euro symbol
AP / Daniel Roland

EU to Institute Stricter Euro Zone Rules

Like a well-financed and politically powerful parent, the European Union has agreed to implement tougher rules for euro zone countries that overspend and over-borrow to “deter bad budgetary behavior” that could lead the currency into yet another crisis.

Posted on Oct 29, 2010 READ MORE


Sarkozy’s Crisis

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Posted on Oct 22, 2010 READ MORE



AP / Ramon Espinosa

Haitians Protest U.N. ‘Occupation’

A crowd of about 100 protesters has blocked the entrance to the U.N. military headquarters in Port-au-Prince, Haiti, spraying anti-U.N. slogans on vehicles and carrying banners saying “Down with the occupation!” while news comes that U.N. peacekeeping forces will remain in the beleaguered country for an additional year.

Posted on Oct 15, 2010 READ MORE


money
Flickr / yomanimus

U.S. Household Wealth Falls by $1.5 Trillion

This just in: U.S. households are getting poorer. As the crisis continues to wreak havoc on our economy, new data from the Federal Reserve tells us that U.S. net household worth has dropped $1.5 trillion in the second quarter of 2010 and is down more than $10 trillion since the recession began.

Posted on Sep 18, 2010 READ MORE


Robert Scheer Talks Economic Crisis

In appearances on MSNBC and KCRW, Truthdig Editor Robert Scheer is coming out with rhetorical guns blazing to talk about the economic crisis, Wall Street pandering, and the culpability of both parties in all of it.

Posted on Sep 18, 2010 READ MORE



Flickr / World Economic Forum

Greek Protester Throws Shoe at Prime Minister

Possibly taking a cue about resistance from the beloved Iraqi journalist who chucked his shoes at George W. Bush back in 2008, a 49-year-old doctor has thrown a piece of his own footwear at Greek Prime Minister George Papandreou in protest of the government’s economic austerity measures.

Posted on Sep 11, 2010 READ MORE



AP / Lynne Sladky

For Job Hunters, a Cold July

The weather may have sizzled in July, but it wasn’t such a hot month for the U.S. economy. Private employers added 71,000 jobs during the month, about half what had been expected, keeping the unemployment rate at a nagging 9.5 percent.

Posted on Aug 6, 2010 READ MORE


school scene
AP / Carlos Osorio

$26 Billion for States and Schools

A $26 billion aid package was passed by the Senate on Thursday that aims to ensure that school districts and states do not have to can tens of thousands of teachers and government workers. Just two Republicans crossed the ideological aisle to support the bill, which now heads to the House.

Posted on Aug 6, 2010 READ MORE



boc.ca.gov

Technical Difficulties Bring Luck to Calif. Workers

California’s outdated technical infrastructure has made 200,000 state employees very, very happy. After an injunction by the governor to cut workers pay to the state’s $7.25 minimum wage, the state controller has successfully argued that such pay docking would be impossible given the state’s outdated payroll computer system.

Posted on Jul 16, 2010 READ MORE



Flickr / chatswoodfp

Corporate America’s First-Class Recovery

While the rest of us patiently await the signs of economic recovery, corporate America has apparently skipped to the front of the line: Major companies are expecting to announce some of their highest profits in years.

Posted on Jul 11, 2010 READ MORE



Flickr / ICAEW Newsroom

Cutbacks Clip U.K. Anti-Terror Effort

Budget worries are sparking a new debate in Britain, with spending cuts taking aim at police services in what some see as a threat to the country’s anti-terror efforts.

Posted on Jul 2, 2010 READ MORE



AP / Gregorio Borgia

Italian Strike Shakes Up Country

Italy’s largest union has launched a nationwide strike, upending public transport and government services in protest over the government’s recent austerity measures.

Posted on Jun 25, 2010 READ MORE



AP / Richard Drew

Wall Street Reform Bill Nailed Down

After a marathon final negotiating session, Congress has cobbled together a historic overhaul of financial regulations for Wall Street. The bill is expected to win final approval next week and land on President Obama’s desk.

Posted on Jun 25, 2010 READ MORE



Flickr / Partido Socialist

Spain Bites the Bullet

As the euro continues to tank and European countries scramble to deal with shrinking economic forecasts, Spain has proposed slashing its spending plans by nearly 8 percent next year as it struggles to deal with financial turbulence.

Posted on May 28, 2010 READ MORE


Capping the Damage

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Posted on May 9, 2010 READ MORE



Flickr / Nikolas Giakoumidis

Greeks Focus Their Rage on the IMF

While the genesis of Greece’s financial crisis may come straight out of economic textbooks, the recent intervention of the EU and now the IMF into Greek affairs has guaranteed popular resistance to the bailout—which many see as foreign subjugation of their country.

Posted on May 9, 2010 READ MORE



Flickr / Hector Lopez-Berges

Spain’s ‘Desempleo’ Rate at 20%

With all the focus on job losses here at home, we sometimes forget how the economic crisis—which originated in the U.S.—has affected other countries. Official figures in Spain, for example, show that that country’s unemployment rate has hit 20 percent, highest in the eurozone.

Posted on May 1, 2010 READ MORE



Wikimedia Commons

SEC’s Dirty Little Secret

One wonders if there is a smutty equivalent to Nero’s fiddling while Rome burns. If there is, it might be applicable to the senior staffers at the SEC who spent hours watching pornography on government computers instead of policing the nation’s financial system.

Posted on Apr 23, 2010 READ MORE


Geithner
AP / Jose Luis Magana

Geithner Pushes to Restrict, Not Ban Derivatives

In a letter to a ranking Senate Democrat, Treasury Secretary Timothy Geithner called for restrictions on derivatives—those financial instruments whose value is derived from other instruments—but stopped at an outright ban on the trading practices that helped lead to the current financial crisis.

Posted on Apr 16, 2010 READ MORE



Flickr / U-g-g-B-o-y-(-Photograph-World-Sense-)

$40 Billion for Greece Bailout

The 16 nations that use the euro have just revealed an aid package of up to $40 billion in an effort to stem the Greek financial crisis. Finance ministers see the offer as a “step of clarification” for markets and a boost for the faltering euro.

Posted on Apr 11, 2010 READ MORE


Cry Me a River

Let us stop to collectively mourn a new figure from The New York Times: Chief executives in the United States’ largest publicly traded companies found that their compensation dropped 15 percent in 2009, hitting bourgeois rock bottom at a measly $9.53 million yearly average.

Posted on Apr 4, 2010 READ MORE



Flickr / Dan DC

Global Recession Scars the Rich Nations

According to the International Monetary Fund, the global economic crisis has not only screwed over the poor but has left “deep scars” on the developed world. The level of debt owed to richer countries is the highest since World War II, the IMF says.

Posted on Mar 21, 2010 READ MORE



AP / Petros Giannakouris

Bailing Out Greece

In an effort to save the Greek economy, and by extension the euro itself, eurozone countries—the 16 European Union states that use the common currency—have agreed on a multibillion-euro bailout that also will impose financial austerity measures on Greece.

Posted on Mar 12, 2010 READ MORE



Flickr / World Economic Forum

My Big Fat Wall Street Bankers

The logic of global capitalism is everywhere. New investigations are showing that the same Wall Street tactics—and companies—that ushered our own economy to economic collapse have emerged to exacerbate Greece’s current financial crisis.

Posted on Feb 14, 2010 READ MORE


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