By Satur C. Ocampo At Ground Level | The Philippine Star The 2008-2009 global financial and economic crisis – euphemistically billed as the Great Recession – has hardly been licked. Yet financial reportage and analyses in the past week, and the financial-business elite’s discussions at the World Economic Forum in Davos, Switzerland focused on fears…
By BENJIE OLIVEROS Bulatlat perspective It has been seven to eight years since the world was rocked by an economic cataclysm called the housing crisis. Banks and financial investment houses that were hitherto believed to be too big to fall were rocked at its foundations when billions of dollars were lost in a high stakes…
By BENJIE OLIVEROS Bulatlat.com MANILA — News about the world economy have been bleak once again for the nth time in the past few years since the housing bubble imploded in 2007–2008, which sent financial investment houses and banks on the brink of collapse and further worsened the situation of the stagnant industrial manufacturing sector.…
By BENJIE OLIVEROS Bulatlat.com There seems to be no relief in sight , even temporarily, to the world economic crisis that imploded in 2008. While economists declare every seemingly positive sign, such as an increase in stock prices or in consumption expenditures, as the start of economic recovery, they have been disproven time and again…
When Bulatlat last visited Arnold Redondo, which was early last February, he still had his job as a production operator at Eighttech Manufacturing Corporation, one of the companies operating at the Cavite Export Processing Zone (CEPZ) which is the largest export-processing zone in the country – though he and his co-workers had been working for…
“The seriousness of this crisis is such that we cannot expect any solution within the system and certainly not from the US administration, certainly not from the G-20 because within that group, except for a couple of exceptions, is the dominant Washington consensus of the neoliberal agenda, ” said Michel Chossudovsky, a progressive economist and academician.
“In the Philippines, this crisis will be extremely severe because it is imposed upon an existing situation…of dependency, lack of sovereignty, crisis of the real economy, and poverty of the large majority of the population.”
BY DEAN BAKER Center for Economic and Policy Research/Truthout INTERNATIONAL Posted by Bulatlat The January employment report showed the economy losing 598,000 jobs in the month. In addition, there were sharp upward revisions to the job loss figures for the prior two months. The data now show the economy losing 1,772,000 jobs over the last…
“Too Big to Fail”: A Bailout Hoax Using the “too big to fail” scare tactic, the U.S. government has kept a number of terminally ill Wall Street gamblers on an expensive life-support system that is estimated to cost taxpayers $8.5 trillion [1]. In light of the fact that (according to IRS Data Book) there were…
BY ALEXANDER MARTIN REMOLLINO Bulatlat Members of the cause-oriented League of Filipino Students have called on the Commission on Higher Education (CHED) Chairman Emmanuel Angeles to enforce a moratorium on tuition increases in light of the global economic crisis. The LFS members made this call during a picket-dialogue earlier today at the CHED office in…
BY ALEXANDER MARTIN REMOLLINO Bulatlat MANILA — Members of Anakbayan and other youth groups staged a rally at the US Embassy here this morning to take the US to task for its role in the global economic crisis. They also lambasted the Arroyo administration for implementing what they described as pro-US policies, which they say…
Contribution to the Forum on the Global and Financial Crisis on 30 January 2009 at De Balie, Amsterdam It is of utmost importance for the working class and the rest of the people exploited by the system of monopoly capitalism to discuss and clarify to themselves what they can and must do about the current…