The European economy is tanking – and trickle-down austerity is to blame. New unemployment numbers show the 17-nation Eurozone now has its highest unemployment rate ever, at 10.9%. And, the two nations with the highest unemployment rates – Spain and Greece – just so happen to be the ones most hooked on austerity.
In Spain, budget cuts and massive government layoffs have driven up the unemployment rate to the Eurozone
Workers of the world are uniting in a global day of action to commemorate International Workers Day. In hundreds of cities across America and around the world in London, Barcelona, Toronto, Kuala Lampur, and Sydney – there are calls for a general strike with no working, no shopping and no banking. The Occupy Movement here in the United States is branding it as a day without the 99%.
In response – Wall Street banks are
Microsoft is now rethinking its support for the Cyber Intelligence Sharing and Protection Act – better known as CISPA – which passed out of the Republican-controlled House of Representatives last week. CISPA allows for the sharing of information between the government and private online companies to stop possible cyber security threats. But since the bill is overly-broad on what exactly is a “cyber security threat” – there’s real c
The oligarchs are making their voices heard this election. A new analysis of SuperPAC donations by the Center for Public Integrity finds that just ten donors are responsible for one-third of the $202 million of SuperPAC money so far this election. Of those ten donors – seven are individuals and four are billionaires. Leading the way is casino mogul Sheldon Adelson who’s dished out $26.5 million so far – mostly on Ne
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: “The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choos
The U.K. is officially in a second recession as the British economy shrank for the second straight quarter. Conservative Prime Minister David Cameron whose government has been pushing trickle-down austerity for nearly the last two years called the new economic numbers, “very, very disappointing.” The U.K.
The continental rejection of austerity continues in Europe. In the Netherlands – the Dutch government coalition collapsed on Monday – after lawmakers failed to agree upon a series of austerity measures. And in Ireland – the nation’s largest trade unions are pressuring the government to vote against more austerity measures being pushed by Germany.
These latest protests – coupled with the early electoral defeat of French Presid
The United States isn’t the only nation dealing with chronic unemployment – the rest of the world is too! A new report by the World Bank says that the global economy needs to create 200 million jobs to recover from the worldwide recession and reach full employment. Twenty-seven million jobs were lost around the world when the economy went in the tank in 2008 – and subsequent job growth hasn’t been nearly strong enough to keep up wit
The AFL-CIO is out with their new Executive Pay Watch report – revealing that CEOs at Fortune 500 companies made on average $12 million each in 2011. They’re now getting paid 380-times more than their average worker. That’s a slight increase since 2010 – and a massive increase since 1980 – when, before Reaganomics, CEOs were paid only 42-times more than their average worker.
On top of that – CEO pay increased nearly 14% in 20
In 2008 - Wall Street got bailed out – and homeowners got sold out. And now – it’s the children who are the biggest victims of the ongoing housing crisis. According to a new report from First Focus and the Brookings Institute – more than 8.3 million children are facing the direct consequences of home foreclosures.
Already – more than two million children have seen their homes foreclosed on since 2008, and another six million