Not a merry Christmas for Americans, Europeans
As the Christmas and New Year holidays approach, the air of economic uncertainty dampens the traditionally anticipated spirit of merriment and hope among the people in the United States and Europe.
Why? The financial and economic measures requiring more austerity instead of more spending, adopted by both the US and European Union leaders after laborious negotiations, fall short of what are needed to break the recession since 2008 in these industrialized states.
In fact, Nobel Prize economist Paul Krugman, who with like-minded colleagues had called for bigger state spending to create jobs and bolster growth, this week bluntly wrote: “It’s time to start calling the current situation what it is: a depression.”
True, the 1930s Great Depression is not being fully reprised. “But that’s cold comfort,” Krugman argues. “Unemployment in both America and Europe remains disastrously high.”.... MORE
Source: Bulatlat.com
URL: http://bulatlat.com/main/2011/12/22/not-a-merry-christmas-for-americans-europeans/
2 comments:
DEPRESSION na raw sa tate.....kaya nga nilusob ang libya via puppet rebels at ngayon, ang syria naman. nauna na nga pala ang iraq. kawawang milyon o higit na mga napatay para sa imperyo ng tantads na papalubog na kalbong agila. ngek.
"“Everyone needs to recognize a chilling reality: one in three Americans — 100 million people — is either poor or perilously close to it.” (That means the number of the poor in America is equal to the entire Philippine population!)
"The data breaks down the 100 million into two categories: 1) 49.1 million “poor”, or those living below the poverty line (generally a family of four with $24,343 annual income); and 2) 51 million “near poor”, or those with incomes less than 50 percent above the poverty line.""
Compare there plight with the flood survivors in CDO and Iligan.
Makes you think hard? Or easy?
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