By JACK RANDOM Counterpunch.org “When you are approaching poverty, you make one discovery which outweighs some of the others. You discover boredom and mean complications and the beginnings of hunger, but you also discover the great redeeming feature of poverty: the fact that it annihilates the future. Within certain limits, it is actually true that…
Tags: US crisis
Americans Are Getting Poorer, and It’s Going to Get Worse
By TONY PUGH International Truthout Posted by Bulatlat.com Washington — The early impact of the worst recession since the 1930s pushed median incomes down, forced millions more people into poverty and left more Americans without health care in 2008, according to new annual survey data from the U.S. Census Bureau. Poor people, working people, blacks,…
Sinking Deeper into Crisis
It is true that the financial crisis affecting the US and the other centers of capitalism, including Germany, UK and Japan, would not bring the country down into a recession and crisis. The Philippines is already in a state of crisis, in the first place. What it would do is to sink the country deeper…
Swimming Lessons for Washington and Wall Street?The Predators’ Bailout
If I recall correctly, the very same US Congress that is considering bailing out the big financial corporations that got the economy into its current mess because of their greed and the government’s willingness to forgo any regulation of their doings (and the doings of their sister companies in the energy sector) made it almost…
Big Trouble in Detroit:How the U.S. Auto Industry Wrecked Itself
This corporate Congress cannot be expected to issue serious demands, set tough conditions, or impose strict rules on the auto companies to ensure their workers receive fair pay and benefits, and prevent their fat-cat executives from making off big while leaving their companies in shambles. BY RALPH NADER Counterpunch INTERNATIONAL Posted by Bulatlat The Big…
US ‘War on Terror,’ Intervention in Philippines to Intensify amid Global Economic Crisis – Analysts
Analysts of global economic developments deemed that the US-led ‘war on terror’ will intensify and escalate as a result of the US financial and economic crisis.
Solon Debunks Andaya, Says OFWs Not US Recession Proof
BY BULATLAT In reaction to Department of Budget and Management Rolando Andaya, Gabriela Women’s Party Representative Liza Maza said the global financial crisis and the US recession will have ‘a substantial impact on our economy and on Filipino migrants in the United States.’ Andaya earlier claimed that jobs of overseas Filipino workers (OFWs) in the…
‘GMA, Bush Passing Burden to the People’ – Bayan
BY BULATLAT The umbrella organization Bagong Alyansang Makabayan (Bayan-New Patriotic Alliance) slammed Mrs.Gloria Macapagal-Arroyo and U.S. President George W. Bush for ‘passing the burden to the people in times of crisis.’ Renato Reyes Jr., Bayan secretary general said it was no surprise why Arroyo supports the $700 billion bailout plan of the Bush administration for…