Economy

Resistance is building in Europe against government attempts to force ordinary people to bailout the failed financial system of “casino” capitalism. After four general strikes in Greece this year, and two more planned, strike action is beginning in Spain against planned attacks on public services and welfare.
In early March, after a three-month media bombardment about the country’s economic crisis, the Greek government — backed by conservative opposition parties, the European Union (EU)and the International Monetary Fund (IMF) — announced harsh austerity measures for ordinary people. These included unprecedented salary, pension, job and public services cuts and large-scale privatisation. The government offensive entails an enormous income transfer from workers and pensioners to big business and the State Revenue Office.
The following is a talk delivered by Scott Weinstein to a public forum in Winnipeg, Manitoba on May 7. Weinstein is a Montreal-based nurse who volunteered for five weeks of medical duty in Haiti shortly after the January 12 earthquake. The full speech can be read at Rabble.ca. * * *
It’s been dubbed the “suicide express” by Chinese media, LabourStart.org said in an appeal to support workers in a Chinese factory at which there has been a spate of suicides by its workforce. “Twelve workers, all between 18 and 24 years old, have committed suicide, at the production facilities of Foxconn Technology Group, a Taiwan-owned enterprise based in Shenzhen, southern China. “Foxconn is a key supplier to various leading brands including Apple. International brands constantly drive down prices and demand shorter delivery time when placing orders.
Put Rudd on a boat so that he can see what it feels like to be a refugee trying to run from imperial slaughter, on a leaky boat in shark-infested waters How can these arseholes be so heartless? — lock people up in bureaucratic darkness They say they're Christian, but where’s the compassion? They put Aboriginal people back on rations It’s the Lib-Lab; hypocrisy reigns supreme, they've got their redneck corporate Australian dream they want to make you think you're playing on the same team as them as they are skimming off your share of the cream
Community group Save Our Rail held a lively picket outside a 700-strong meeting of the anti-rail lobby Fix Our City (FOC) at Newcastle Town Hall on June 3. FOC is a business and developer lobby group whose explicit aim is to have the Hunter Development Corporation (HDC) “urban renewal report” implemented. The HDC report’s main proposal is to cut the Newcastle at Wickham station. Save Our Rail drew 150 people to the counter-rally. It had the support of the Rail Tram and Bus Union, which brought several large union banners.
The US's worst-ever environmental disaster took yet another bad turn after British Petroleum's (BP) latest efforts to stop the torrent of oil from the Deepwater Horizon well failed. Public discontent is growing, with increasing calls for a government takeover of the operation and seizure of BP’s assets. The Deepwater Horizon oilrig exploded on April 20, killing 11 workers and releasing between 19.7 million and 43 million gallons of oil into the Gulf of Mexico.
On June 11, South Africans will start partying like no time since liberation in April 1994. It is a huge honour for our young democracy to host the most important sporting spectacle short of the Olympics. The ordinary people who have worked hard in preparation deserve gratitude and support — especially the construction workers, cleaners, municipal staff, health-care givers and volunteers who will not receive due recognition. But balancing psychological benefits against vast socioeconomic and political costs is vital.
“The life of a trade unionist in Colombia is very difficult and complex”, visiting union leader Edgar Paez told Green Left Weekly. Paez said 4000 unionists have been murdered in Colombia in 28 years. “Last year, 47 unionists were killed, 48 the year before. Union leaders need armed guards, bulletproof cars, camera surveillance and bulletproof windows on their offices. “They lose the possibility of a normal family life.”
This Time is Different: Eight Centuries of Financial Folly By Carmen Reinhart & KennethRogoff Rrinceton University Press, 2009, 496 pages Review by Barry Healy Australia has had a lucky escape from the Global Financial Crisis (GFC) our noble leaders and economic pundits tell us. Not so, says 800 years of economic experience assembled in This Time Is Different: Eight Centuries of Financial Folly.

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