President Obama announced that he will convene a "Jobs Summit" in December to explore the means for tackling this seemingly intractable problem of mounting unemployment even in the face of positive GDP (Gross Domestic Product) numbers from the third quarter of 2009.
The recent shootings at Fort Hood, Texas and Orlando, Florida suggest that people today may have a different response to economic collapse than what happened during the Great Depression.
Democratic defeats in Virginia and New Jersey reveal the destruction that the extended downturn is wreaking on workers' employment, and income, and stability.
On California's north coast, the sea used to provide many a worker and family a decent living - but no longer.
The Republican attacks on extending the economic stimulus, on universal health care, on climate change legislation and financial reform all make reference to the exploding deficit and to the burden an immense debt may place on succeeding generations.
A Texas theologian challenges the idea that Jesus Christ's teachings must be contorted into support for big business and the "status quo."
Goldman Sachs and J.P. Morgan Chase are back to the "old normal." Profits are soaring - $3.2 billion and $3.6 billion respectively in the third quarter
This week, July 4, 2009, on the road to economic recovery. The official unemployment rate now exceeds 9.5%--the worst in at least 25 years. The unofficial -- including discouraged, underemployed, and otherwise discarded workers -- rises above 15%. African-American and Latino men are taking the hardest hit. Urban unemployment among young men now nears 50%. Some call unemployment a 'lagging indicator' -- but unchecked, it will become the leading, and controlling, indicator.
Communist economist Paul Boccara has just published a book about the transformations and the crisis of global capitalism, in which he deals with the financial crisis, among other topics. Paul Boccara puts forward proposals to initiate emancipation from this 'gone mad' system.
U.S. President Barack Obama's administration on Tuesday unveiled its long-expected reshaped financial rescue plan.