economy

There is a sharp reality disconnect in the Black community.

On the one hand, the Black population continues to support the first African American president, Barack Obama, by more than 90%.

Yet the plight of the Black communities is at its worst condition in three decades. Official unemployment is over 16% ― twice that of whites and iabout 30% for young African Americans.

Black household income is in decline and the lowest of the five major ethnic groups. Poverty is at the highest levels in 30 years.

A blog of those that support the Occupy Wall Street protests, that began in New York in September and have since spread to hundreds of US cities, hosts a series of personal testimonies from ordinary people across the United States. It indicates the source of the deep anger at the corporate elite that have become rich off their suffering. A selection are published below.

* * *

Speaking in Rome on September 15, Lorenzo Bini Smaghi, Italian executive board member of the European Central Bank (ECB), said of the design of the euro: “The assumption was made ― largely theoretical ― that there would be no crises.”

Oh, indeed. And now with Europe and the world showing every sign of dipping into a recession that will further stress Euope's common currency, what is to be done?

Pages

Subscribe to economy