Seven years after the Wall Street crash of September 2008, fears are growing within ruling circles internationally that the world capitalist economy, far from recovering, is descending into depression. There is increasing speculation as to where the next financial meltdown, triggering a collapse in trade and production, will occur.The very countries previously touted as the “engines” of world economic growth following the 2008 recession, China and the so-called “emerging market” economies, are now seen as the places most likely to spark a new global downturn.
In the United States, only about 13 percent of U.S. workers have access to any form of paid family leave. With the idea of paid maternity leave gaining traction as a means of recruiting workplace "talent" or used as a talking point on the campaign trail, an In These Times investigation published on Tuesday reveals the sad reality for millions of U.S. families.
The Japanese report followed a wave of negative data pointing to sharply slower growth in China and last week’s surprise devaluation of the renminbi.
THERE ARE some things that no Australian politician would ever publicly oppose. Motherhood. Democracy. Friendship. Economic efficiency. These days, economic efficiency probably ranks higher than the other three in politicians' scale of values. But what is it?
Just hours after the PBOC announced a modestly “revalued” fixing in the CNY, which curiously led to weaker trading in the onshore Yuan for most of the day before a forceful last minute intervention by the central bank pushed it back down to 6.39…
The toxic spill began Aug. 5 when an EPA contractor accidentally ruptured a wall holding back millions of gallons of wastewater containing a variety of toxic substances such as mercury and lead at a closed gold mine in Colorado.
Wisconsin Governor Scott Walker, seeking the Republican nomination for president, is receiving some criticism for his decision to support a new basketball arena after cutting funds for the state’s university system.
What Is Going To Happen In September - Public DomainWhy does the Russian media seem to be far more on the ball than the mainstream media in the United States much of the time? Could it be possible that Russian reporters have more freedom to talk about important issues than reporters that work for the major corporate conglomerates in the United States do? Of course the Russian media is far from perfect. They put out pro-Russian propaganda just like the U.S. media puts out pro-American propaganda. But I must admit that I often find that Russian news sources are willing to tackle controversial issues that the mainstream media in the United States would not touch with a ten foot pole. This includes the critical events that are coming up this September.
Machine-maker DE-STA-CO said it was moving 100 jobs to Tennessee. The next day energy processor Bunge North America said it was shutting down its plant in Bradley, Illinois, and laying off 210 workers. The day after that General Mills pulled the plug on its manufacturing plant in West Chicago, terminating 500 workers. A week later Mitsubishi Motors announced it was closing its production facilities that made its Outlander, ending 918 jobs there,
Most of these stock market crashes are occurring in nations that are known as “emerging markets”. In recent years, developing countries in Asia, South America and Africa loaded up on lots of cheap loans that were denominated in U.S. dollars. But now that the U.S. dollar has been surging, those borrowers are finding that it takes much more of their own local currencies to service those loans. At the same time, prices are crashing for many of the commodities that those countries export. The exact same kind of double whammy caused the Latin American debt crisis of the 1980s and the Asian financial crisis of the 1990s.
Inmates in a Tennessee jail are being used as slave labor to benefit the private company belonging to detention center employees, two former prisoners claim.
California is now well into its fourth consecutive year of drought. This is not without consequences. Tensions in the state have mounted as urban and agricultural water users become increasingly stressed by water shortages ? but we can't blame the almond farmers. There are many factors at play here, notably a complex water cycle and conveyance network, as well as a somewhat archaic legal landscape.
China is continuing to devaluate its national currency to increase the competitiveness of its national exports causing some American experts to consider the move as “currency manipulation.”China keeps its currency very low to enforce the interests of its export industries. This type of policy would make Chinese products even cheaper and, therefore, more attractive for buyers.
While key Western banks are artificially restraining gold prices to breathe life into the diluted and devalued dollar system, Russia,China and other emerging economies are involved in “the genial move” to establish an entirely different gold market.
The Los Angeles Department of Water and Power is buying 80 million 4-inch black polyethylene balls to cover the surfaces of three Los Angeles reservoirs that serve 4 million residents. At a cost of 33 cents each, the hollow spheres are designed to block sunlight from turning bromide and chlorine in the water into bromate, a suspected carcinogen. NPR is reporting total cost of the project at $34.5 million.
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