By Carol Pagaduan-Araullo Streetwise | BusinessWorld The protracted global economic depression is sending the economies of even advanced capitalist countries such as the United States and members of the European Union on a tailspin. Despite fits of financial convulsions due to the bursting of economic bubbles and now EU countries threatening to default on their…
Tags: financial crisis
Tracking Our Downward Spiral :The Ways in Which America Still “Leads’ the World
By Richard Clark Reposted by Bulatlat.com “Millions of folks around the good ol’ USA have been screwed over by predatory lenders and fine-print credit card contracts, and now, partly because of that, many of them are swimming in debt. And now, some of these people are actually being thrown in prison for going into debt.…
Asian Peasant Group Hits Planned G20 Summit
BY BULATLAT A coalition of Asian peasant groups has criticized the White House’s invitation to the Philippines to host the Group of Twenty (G20) economic summit on Nov. 15, 2008 supposedly to “discuss the current global economic and financial problems that are affecting the world.” The G20 members are Argentina, Australia, Brazil, Canada, China, France,…
Condemn Economic and Financial Crimes, Intensify the Struggle Against Imperialism
Statement on the US and Global Economic and Financial Crisis BY THE INTERNATIONAL LEAGUE OF PEOPLES’ STRUGGLE DEMOCRATIC SPACE Posted by Bulatlat We, the International League of Peoples’ Struggle, take cognizance of the total discredit of the “free market” dogma, the unraveling of the policy of “neoliberal globalization” and the gravity of the current level…
Searching for Answers on the Financial Crisis
How did the world come to this point? Analysts are blaming Wall Street executives with their fat compensation packages and “golden parachutes” ( attractive severance packages). But is the deep economic and financial crisis the handiwork of a few executives? That seems hard to believe. Searching for answers, I came across an old book. And…
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…
US Financial Crisis Could Lead to Job Losses in RP
Just how vulnerable is the Philippines to the effects of the US financial crisis? Mrs. Gloria Macapagal-Arroyo said the Philippines is equipped to withstand the effects of the US financial crisis. But a labor economist thinks otherwise, saying the crisis could result, among other things, in job losses in the Philippines.
People’s Counter SONA Precedes Arroyo’s Speech
BY BULATLAT Posted 2:40 p.m. – July 28, 2008 Even before Mrs. Gloria Macapagal-Arroyo delivers her state of the nation address (SONA), people’s organizations under the banner of the Bagong Alyansang Makabayan (Bayan- New Patriotic Alliance) presented what they called the People’s SONA. Speaking before the thousands of protesters, Dr. Carol Araullo, Bayan chairperson, said,…
Ron Paul: “Some Big Events Are About To Occur”
The congressman warns of “chaos about to be unleashed” on economic and political system by globalist intervention and world empire BY STEVE WATSON Infowars.net ALTERNATIVE READER Posted by Bulatlat Vol. VIII, No. 25, July 27-August 2, 2008 Texas Congressman Ron Paul has warned the House that he is “convinced the time is now upon us…