|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By E.J. Dionne
$14.00
By Ellen E. Schultz
$35
|
|
|
|
|
Pavel Constantin, Cagle Cartoons, Romania —
Posted on Oct 6, 2012
READ MORE 
|
Anuska Sampedro (CC-BY)
|
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.
|
Contando Estrelas (CC-BY)
|
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.
|
AP / Geert Vanden Wijngaert
|
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)
|
Andrew . Walsh (CC-BY)
|
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)
|
Flickr / Images_of_Money
|
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 
|
|
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)
|
.jpg)
Flickr / Protest Photos1
|
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)
|
news.bbc.co.uk
|
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.”
|
Wikimedia Commons
|
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.
|
news.bbc.co.uk
|
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
|
AP / Daniel Roland
|
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.
|
World Economic Forum / Remy Steinegger
|
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.
|
AP / Andy Manis
|
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.
|
AP / Sang Tan
|
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.
|
AP
|
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.
|
AP / Manu Fernandez
|
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
|
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.
|
Flickr / getfrank.
|
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.
|
AP / Peter Morrison
|
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.
|
youtube.com
|
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.
|
AP / Peter Morrison
|
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.
|
AP / Daniel Roland
|
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
|
|
Dario Castillejos, Cagle Cartoons, Dario La Crisis —
Posted on Oct 22, 2010
READ MORE
|
AP / Ramon Espinosa
|
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.
|
Flickr / yomanimus
|
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.
|
|
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.
|
Flickr / World Economic Forum
|
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.
|
AP / Lynne Sladky
|
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.
|
AP / Carlos Osorio
|
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.
|
boc.ca.gov
|
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.
|
Flickr / chatswoodfp
|
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.
|
Flickr / ICAEW Newsroom
|
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.
|
AP / Gregorio Borgia
|
Italy’s largest union has launched a nationwide strike, upending public transport and government services in protest over the government’s recent austerity measures.
|
AP / Richard Drew
|
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.
|
Flickr / Partido Socialist
|
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
|
Flickr / Nikolas Giakoumidis
|
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.
|
Flickr / Hector Lopez-Berges
|
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.
|
Wikimedia Commons
|
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.
|
AP / Jose Luis Magana
|
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.
|
Flickr / U-g-g-B-o-y-(-Photograph-World-Sense-)
|
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.
|
|
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.
|
Flickr / Dan DC
|
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.
|
AP / Petros Giannakouris
|
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
|
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.
|
AP / Gregory Bull
|
Call it pity or call it sensible politics, the G-7 nations have together pledged to cancel $1.2 billion in debt that Haiti owes them, something Global South activists have been requesting for all developing countries—not just those hit by horrible earthquakes.
|
Flickr / DetroitDereck Photography
|
Ford Motor Co. has seemingly shifted out of crisis mode and is now reporting a profit of $2.7 billion for 2009, a considerable success given the state of the U.S. auto industry and the sluggish economy.
|
AP / J. Scott Applewhite
|
With unemployment running at 10 percent and Wall Street bankers again pocketing big bonuses, many see Federal Reserve Chairman Ben Bernanke’s priorities as skewed. But absent from those critics is the White House, which believes Bernanke will be reconfirmed for a second term next week.
|
Flickr.com / PMorgan
|
Even in the face of the global economic crisis, China’s economy still managed to grow by a surprising 8.7 percent last year, according to the bean-counters in Beijing, putting the country on track to overtake Japan as the world’s second-biggest economy.
|
View the most popular tags overall?
|
|
Another Memorial Day in This Endless War
Newsletter 
Like Us
Follow Us
Get Our Feed
