World-News

Rick Wolff, Monthly Review: "Where is this elusive recovery? The banks, some say, have 'recovered.' Yet they remain dependent on Washington, they do not make the loans needed for a general recovery, and many medium and small banks keep collapsing.... Everywhere else - unemployment, foreclosures, bankruptcies, depressed housing market, and so on - no recovery in sight. Yet, my search finally found genuine recovery for one group, and its recovery offers a better policy to treat this crisis."

http://www.truth-out.org/economic-recovery-few61906

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The Avoidable Depression; "No one believes the U.S. is the land of opportunity anymore"

By Mike Whitney

8 million jobs have been lost since the beginning of the recession, but policymakers on Capital Hill and at the Fed refuse to initiate government programs or provide funding that will put the country back to work. Long-term "structural" unemployment is here to stay.

http://www.informationclearinghouse.info/article26081.htm



The Unemployment Horror Show

"When you combine the long-term unemployed with those who are dropping out and those who are working part-time because they can't find anything else, it is just far beyond anything we've seen in the job market since the 1930s."

http://www.nytimes.com/2010/08/10/opinion/10herbert.html?_r=1&pagewanted=print


From Information Clearing House

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As the Obama Economic Team Bails, the System Fails to Generate Jobs. Are the Causes 'Structural'?
http://www.commondreams.org/view/2010/08/09-5

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This recession is not like the others

The American Spectator
by Ron Ross

08/12/10

At 33 months [the current recession] is already more than three times longer than the average length of the other ten recessions we’ve had since WWII. There are no clear signs it will be ending anytime soon. Glimmers of a recovery appear from time to time, but most indicators remain depressed and many are worsening. On balance, the outlook is more negative than positive. Not since the Great Depression have we had two consecutive years of unemployment in excess of nine percent. What we’re seeing is economic stagnation...

http://tinyurl.com/2c33pa3


Informant: Thomas L. Knapp



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