The financial crisis and the real economy
Thursday, January 14th, 2010 at
1:17 am
More at therealnews.com Leo Panitch: The death of the US trade union and Great Society have left the real economy vulnerable
Tagged with: banks • Collapse • crisis • economy • financial • media • news • Politics • real • Street • therealnews • trade • union • Wall
Like this post? Subscribe to my RSS feed and get loads more!
I find this talk dominates the media but does not dominate the local feeling of the people. Take a look at the comments to come even. I’m a little disappointed this viewpoint is being pushed so much by the real news.
sirellyn:
Depends on where you live, I guess.
It’s been a common topic of discussion here.
what viewpoint?
Waist of time! We already know all of this!
Negative 5!
MONEY = DEBT!
The series with Mr Panitch and the previous series with Mr Jonson are the most informative and interesting I have seen.
Where does Panitch get his figures? The US has been running an enormous trade deficit for years. According to the US Census Bureau the trade deficit for the month of July was 62.2 Billion in goods and services. In goods alone the deficit was 74.9 Billion. And this has been going on for a long time. The monthly trade deficit in Jan 04 was 43.1 Billion. Perhaps I misinterpreted the guests comments but the premise for a good part of his argument seems patently false.
How in the world can he say their “standard of living” hasn’t gone down while he admits that people are required to work more?
adveturebox: Because they have no clue what the word “work” means. They’re living in the delusion, that the money is working.
Wow, he blew my mind with his first statement. The US economy was doing well for the past decade? Did he not see how the past cycle compared to the nine cycles before it?
What you guys fail realize that Economy in fact did do well under the Bush Admistration….for the RICH that is. The rpfits for the rich went up even wage deeclined for the middle class. The last 8 years was good wealthy people, bad for the middle class and poor.
Only the wealthy experince the economic growth of the usa economy.
What make you think that I don’t realize this? Besides, the professor was speaking about a much longer time period than the last 8 years.
my friends father, (we live in canada) lost 600,000 grand because of this crisis..it really effects everybody including my family
I think he was talking in economic terms (ie how much people can buy), he wasn’t making a statement about the quality of peoples lives.
Don’t Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk
the housing and debt bubble, only helped the rich, those that borrowed money. there was and is more poverty than ever especially in canada which is even more corrupt and FOR THE RICH that the US. a greed over equality, works for the few.
kdkeie jdiejbb oi oeiakdid
It was the last 30 years, moron. Get this fallacious belief out of your head that only the last 8 years have gone wrong.
“It was the last 30 years, moron. Get this fallacious belief out of your head that only the last 8 years have gone wrong. ”
shut up i already knew that . Your boy george made it much worse. It can always get worse you idiot
No, George made it no worse than Clinton did. Clinton is responsible (with others) for financial deregulation and initiating the Iraq War.
Look up Clinton’s “Iraqi Freedom Act.”
Pakistani investor/industrialist is mercilessly throwing 85-90% of Pakistans National Wealth out to the foreign banks. Remaining 10-15% wealth in Pakistani banks is declared as the income and taxation is being done on its behalf. As a result of fake inflation created due to this blunder govt declares all reactions as terrorism whereas main terrorist is 1st State Bank of Pakistan not stopping National Wealth from being thrown out and then the govt imposing unjust taxes to fill its empty stomach.
I love the way he says “being able to get access to debt” instead of ‘acces to credit’. So true.