"Some date the crisis to August 9 2007, the day it became clear that Europe’s banks were up to their necks in US housing debt. The ECB flooded markets with €95bn of liquidity. It seemed a lot of money then. The term “trillion” was still banned by the Telegraph style book in those innocent days. We have since learned to swing with the modern dance music from central banks." [Five years on, the Great Recession is turning into a life sentence
posted by vidur
on Aug 13, 2012 -
A Planetary Crisis Is A Terrible Thing to Waste There are striking similarities between the current economic and ecological crises — both involve indulgent over-consumption and a failure to consider the impacts on future generations. But it’s not too late to look to new economic and environmental models and to dramatically change course.
opines Der Spiegel environmental journalist, Christian Schwägerl
posted by infini
on Oct 27, 2011 -
Why Africa is leaving Europe behind: Africans are relishing something of a reversal in roles. The former colonial powers in Europe are wrestling with debt crises, austerity budgets, rising unemployment and social turmoil. By contrast much of sub-Saharan Africa can point to robust growth, better balanced books and rising capital inflows. There is an opportunity in this novel scenario: for Africa to assert itself on the global stage, and for European countries to take advantage of their historic footprint in Africa by stimulating commercial expansion to their south. But it is far from clear either side will grasp it. Recently.
posted by infini
on Aug 21, 2011 -
How green was my valley: California's economic meltdown The fields of wheat, cotton and cantaloupe that sustained his family for three generations are gone. The land is a mess of fallow fields, cracked earth and swirling dust. (PDF - By some estimates, 12.8% of the United States' agricultural production (as measured by dollar value) comes from California, and the majority of that is in the Central Valley).
However, his particular scene of devastation, Mr. Allen argues, has nothing to do with the credit crisis, the housing crash or the downturn that has California in a vice grip.
It has to do with a seven-centimetre-long, semi-translucent, steel blue fish known as the Delta smelt. [more inside]
posted by KokuRyu
on Jul 24, 2009 -
Newly jobless and homeless former members of the Japanese upper or upper-middle class are turning to a distinctly 21st century version of the flophouse, the net room
: a tiny cubicle, rented by the day, with that all-important feature... an internet connection and a computer. [more inside]
posted by flapjax at midnite
on Feb 27, 2009 -
The Right to Walk Away
Has panarchist thinking finally come of age in 2009? With world leaders of big governments failing to find any new solutions to old problems, should we have the right to walk away from those governments?
posted by stuffedspacedog
on Feb 2, 2009 -
The laughed at him.
Foretelling the doom and gloom of the mortgage crisis as a pundit in these 2006-2007 interviews, Peter Schiff
held to a grim economic outlook. Recently in the Washington Post, Schiff writes
: "Our leaders irrationally promoted home-buying, discouraged savings, and recklessly encouraged borrowing and lending, which together undermined our markets."
posted by thisisdrew
on Nov 14, 2008 -
Fiscal Pressures Lead Some States to Free Inmates Early,
says the Washington Post. Across the United States, a financial crisis is brewing in our nation's correctional systems. California, which has the largest prison system in the nation
, (housing 170,000 inmates with a capacity of only 100,000), plans to increase the budget for new prison construction
by 7 to 14 billion dollars
, on top of releasing 22,000 nonviolent prisoners on unsupervised parole. Other states, especially Michigan, face an even more dire situation... [more inside]
posted by Avenger
on May 5, 2008 -