Back in 2007, when the US Fed let the 100-year old Lehman Brothers investment bank go belly up, it was like a blasting cap that blew apart the global economy. While there was some recover last year and early into 2011, the global economy – and the econ…
Continue readingTag: economic crisis
RedBedHead: Greek Meltdown: People vs Banks
Forget the riots in Vancouver by angry hockey fans, things are really on the boil in Greece. After a year of austerity measures that have all but killed the economy and which have driven down living standards substantially, the government is coming bac…
Continue readingThe Progressive Economics Forum: Is Capitalism Terminally Ill?
Today (June 15th) the Toronto Star broke news that the NDP was planning to drop the term “socialism” from its party’s platform. This was a mere formality of what had been in existence for decades: the party hasn’t been “socialist” in any shape or form for a very long time. On the very same day, […]
Continue readingRedBedHead: Today’s U.S. Economic News: This Parrot Is Dead
The jobs report is out and like all of the other economic indicators, it shows that the US economy is going nowhere fast. The whole of this year has been about watching the optimism that started the year turn sour bit by bit as the remaining effects fr…
Continue readingRedBedHead: The Tories’ Bankrupt Brains
“I see, said the blind man to the deaf dog, who wasn’t listening anyway” is a phrase that comes to mind reading reports of federal Finance Minister Jim Flaherty’s press conference on the economy. Generally speaking we expect governments to do more to s…
Continue readingRedBedHead: The Return Of Stagflation?
Those of us around in the 1970s will remember the term stagflation – a combination of economic stagnation and inflation that created a conundrum for bourgeois economists: do you move to rein in inflation by tightening credit and imposing wage and price…
Continue readingThe Progressive Economics Forum: Exiting from the Crisis
“Exiting from the Crisis: Towards a Model of More Equitable and Sustainable Growth” is a new book (over 270 pages) now available on line. This volume of essays from global trade union leaders and economists is the product of the Global Unions Taskforce on a New Growth Model, a joint project of the Trade Union […]
Continue readingDeath By Trolley: The Wall Street Triple-Penetration
The Young Turks have ran a number of stories on how major investment banks have gamed the US and global economic systems. In the video presented below, they discuss how major investment bankers (e.g., Goldman Sachs) have effectively triple penetrated their investors and the global oil market, which affects all of us by driving up […]
The Progressive Economics Forum: Good Jobs For All
The policy paper to be presented to the CLC Convention next month is now posted on our web site and is well worth reading.
http://www.canadianlabour.ca/sites/default/files/pdfs/policypapergoodjosen.pdf