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US recession fueled by low wages and consumer debt

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More at http://therealnews.com/c.php?c... Panitch: Weakening of unions and global pressures on US wages a major factor (1 of 2)Thursday January 24th, 2008Leo Panitch is the Canada Research Chair in Comparative Political Economy and a Distinguished Research Professor of Political Science at York University in Toronto. Panitch is also the author of Global Capitalism and American Empire.

Channel: News & Politics
Uploaded: December 31, 1969 at 4:59 pm
Author: TheRealNews

Length: 06:17
Rating: 4.76
Views: 20692

Tags: analysis  commentary  consumer  debt  economy  equity  leo  panitch  politics  recession  US  wages  

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mycomlocal (December 31, 1969 at 4:59 pm)
The imf, world bank & other central banks just raped the world & now we're their sex slaves tied up in the basement.
RayAir1 (December 31, 1969 at 4:59 pm)
I don't think he won the elections. For sure the first one was stolen. I agree, Bush sure is a dumb ass.
RayAir1 (December 31, 1969 at 4:59 pm)
Don't forget the millions and millions of jobs that were taken away from American's and shipped overseas.This is just an opinion, but if things don't get better, if people lose it all, I see people "taking up the rifle" against those they deem responsible for this catastrophe. Personally, I would not shed a tear.
unytcommsys (December 31, 1969 at 4:59 pm)
So, situation normal then.
rayva1 (December 31, 1969 at 4:59 pm)
There is a website on socialism.
rayva1 (December 31, 1969 at 4:59 pm)
Socialist...org
oo446611 (December 31, 1969 at 4:59 pm)
think about this usa is wanting war with iran for israel, yet israel has more than 200 nucular weapons ,and is in violation of at least 63 un regulations , the world banks are the ones who sponser war , are you paying for this war in advance ???rich mans war poor mans blood, why are bankers still getting pay rises ??wake up
oo446611 (December 31, 1969 at 4:59 pm)
The Guardian errs a bit in that last sentence, of coure. Almost all of the "conditions" mentioned in connection with the bailout have no teeth whatsoever, no enforcement mechanism, no real penalities. They are more properly termed "suggestions," or rather, "PR exercises that we hope our Wall Street lords will deign to at least pretend to follow for a short time, until the heat is off."
oo446611 (December 31, 1969 at 4:59 pm)
Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted criticism. The government's cash has been poured in on the condition that excessive executive pay would be curbed.
oo446611 (December 31, 1969 at 4:59 pm)
Financial workers at Wall Streets top banks are to receive pay deals worth more than $70bn £40bn a substantial proportion of which is expected to be paid in discretionary bonuses for their work so far this year despite plunging the global financial system into its worst crisis since the 1929 stock market crash the Guardian has learned

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