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Economy Watch

Miners' Battle Across Borders
by Kent Paterson

from Americas Program, Center for International Policy (CIP), 3/11/10

Overshadowed by narco-violence, another showdown with far-reaching consequences is unfolding near the Mexico-U.S. border. Striking workers have occupied a Grupo Mexico-owned copper mine and vow to...

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Bankruptcy: From Banks to Nations
by Osama al-Sharif

from Addustour [Jordan], 3/1/10

Following the bankruptcy of American banks and giant brokerage firms such as Lehman Brothers, the global financial crisis entered a phase of national bankruptcy, which included Greece with the...

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AIG Revelations Come Up a Little Short
by David Fiderer

from Huffington Post, 3/15/10

It's been eighteen months since AIG collapsed, and Congress has yet to seriously focus on the most important questions: What did they know and when did they know it?

"What"...

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Back to Market Fundamentalism
by Ismael Hossein-zadeh

from Information Clearing House, 3/12/10

The “golden” years of the U.S. economy in the immediate post-WW II period, along with the recovery and expansion of the economies of other industrialized countries, afforded the...

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Giving Voice to Invisible Workers
by Nadine Jasmin

from l’Humanité, 3/13/10

How do we talk about the “invisible work” of women? Would it be a provocative thing to do, when 80% of women are actively employed? When they study, earn a living, become...

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Trade Imbalance Threatens Euro Monetary Union
by Heiner Flassbeck

from International Development Economics Associates [IDEAs], 3/12/10

It is sad and surprising that among the deluge of comments and letters on Greece in the European papers in the...

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Sold My Soul to the Company Store
by Anthony Eramo

from MRzine, 3/12/10

It is no secret that something must be done about our healthcare system -- and soon.  Even those lucky enough to have good coverage are aware that the current system is unsustainable. ...

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Ponzi Nation
by Andy Kroll

from TomDispatch.com, 3/12/10

Every great American boom and bust makes and breaks its share of crooks. The past decade -- call it the Ponzi Era -- has been no different, except for the gargantuan scale of white-...

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China's Neo-Colonialism
by Walden Bello

from the New Internationalist, March 2010

On 1 January 2010, the China-ASEAN (Association of Southeast Asian Nations) Free Trade Area went into effect. Touted as the world’s biggest Free Trade Area, CAFTA is billed as having 1.7...

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Putin and Europe on the Same Crisis Page
by Boris Kagarlitsky

from Moscow News, 3/4/10

As expected, the economic crisis has led to social unrest. Most workers have seen little result from the victory over the crisis that government officials and observers announced as far back as...

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What Are They Waiting For?
by Danny Schechter

from ZNet, 3/10/10

What will it take?  What are they waiting for? What part of the reality of a systemic crisis that will get worse don't they get?

How is it possible that after near three years of...

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Workers, Banking, and Crisis in Mexico
by Thomas Marois

from The Bullet [Socialist Project, Canada], 3/11/10

A striking feature of the global financial crisis is the narrow and technical focus on banks and financial corporations without accounting for ordinary workers in these institutions and in society...

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Macroeconomic Policy: The Elephant in the Room
by Alejandro Nadal

from TripleCrisis.com, 3/9/10

International conferences on poverty and the environment come and go. There’s always a big pachyderm in the meeting room. It’s got the words “macroeconomic policy” written...

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International Showdown Against Rail Privatization
by Brian Denny

from spectrezine.org, 3/10/10

British transport workers' union RMT is joining forces with rail unions across Europe to protest in Lille, France on Tuesday April 13 to demand ‘Rail Safety - Not EU Rail Liberalisation...

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A Financial Transaction Tax
by Bill Barclay

from Chicago Political Economy Group, 2/1/10

The following is excerpted from a working paper, "A Financial Transaction Tax: Revenue Potential and Economic Impact." Read the whole paper...

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Ticker statistics are gathered from a number of sources, including the UN, ILO, World Institute for Development Economics Research, World Factbook, Habitat, Bill Tabb (MR, Oct. 2008), Forbes, www.globalissues.org/article/26/poverty-facts-and-stats, World Health Organization, David Rothkopf (Superclass).

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Links

  • Agence Global
    http://www.agenceglobal.com/
  • Center for Economic and Policy Research
    http://www.cepr.net/
  • CNN Culprits of the Collapse
    http://ac360.blogs.cnn.com/category/culprits-of-the-collapse/
  • Dollars & Sense
    http://www.dollarsandsense.org/
  • Doug Henwood's Radio Archives
    http://www.leftbusinessobserver.com/Radio.html#081004
  • Market Meltdown 101
    http://www.amherstwire.com/features/market-meltdown-101/
  • Max Fraad Wolff
    http://www.huffingtonpost.com/max-fraad-wolff
  • MR Zine
    http://mrzine.monthlyreview.org/
  • Portside
    http://www.portside.org/
  • Reading Marx's Capital with David Harvey
    http://davidharvey.org/
  • Reflections of Fidel
    http://monthlyreview.org/castro/index.php
  • Socialist Project
    http://www.socialistproject.ca/
  • Spectrezine
  • Znet Economy Page
    http://www.zmag.org/znet/topics/Economy

from Karl Marx in Capital, vol. I, ch. 25
“[The absolute general law of capitalist accumulation] makes an accumulation of misery a necessary condition, corresponding to the accumulation of wealth. Accumulation of wealth at one pole is, therefore, at the same time accumulation of misery, the torment of labour, slavery, ignorance, brutalization, and moral degradation at the opposite pole, i.e. on the side of the class that produces its own product as capital.”

from Frederick Engels in Socialism: Utopian and Scientific
Commerce is at a standstill, the markets are glutted, products accumulate, as multitudinous as they are unsaleable, hard cash disappears, credit vanishes, factories are closed, the mass of the workers are in want of the means of subsistence, because they have produced too much of the means of subsistence... The stagnation lasts for years; productive forces and products are wasted and destroyed wholesale, until the accumulated mass of commodities finally filter off, more or less depreciated in value, until production and exchange gradually begin to move again.. We have now, since the year 1825, gone through this five times, and at the present moment (1877) we are going through it for the sixth time....

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