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IMF Lowers Expectations of American Economic Growth

Still under the impact of a harsh winter, the International Monetary Fund (IMF) estimates that the U.S. economy will grow no more than 2% over 2014. The organization’s previous estimate was 2.7%. This latest report, released Monday, even downgrades forecasts for the Federal Reserve, and highlights structural weaknesses in the largest economy in the world due to a weak labor market, the impact of poverty, fiscal policy and poor ...Read full article...

Global Famine

Humanity is undergoing in the post-Cold War era an economic and social crisis of unprecedented scale leading to the rapid impoverishment of large sectors of the World population. National economies are collapsing, unemployment is rampant. Local level famines have erupted in Sub-Saharan Africa, South Asia and parts of Latin America. This “globalization of poverty” –which has largely reversed the achievements of post-war decolonization– was initiated in the Third World ...Read full article...

There is no ‘legitimate redistribution’ of wealth

Who is it that calls for social justice, equality and legitimate redistribution of wealth while living in luxury and opulence? As the world attempts to stay in balance during the harshest economic times since the 1929 Great Depression, there are those who believe that wealth redistribution is a good way to end social injustice or to give to those deemed worthy whatever they supposedly deserve. For the past 100 ...Read full article...

America’s Hidden Hunger Crisis

Imagine tens of millions hungry in the world’s richest country. Imagine bipartisan complicity ignoring a growing crisis. Imagine uncaring policymakers. Imagine them cutting vital programs able to help when sizable increases are needed. Imagine serving monied interests at the expense of popular ones. Imagine enriching themselves in the process. Outnumber Hunger (OH) is a nationwide campaign. It enlists people in the growing fight against hunger. It works cooperatively with ...Read full article...

Inequality Grows in Large American Cities

As it often happens, lack of better living conditions in less urbanized areas results in massive migration to large cities, where most newcomers become victims of urban inequality. The growing income inequality in America has its greatest reflection in large cities, where the pressing income gap between rich and poor becomes more palpable and real. Inequality is such a deep problem that even Barack Obama labeled it as “the greatest challenge of our time”. The ...Read full article...

South Africans Protest for lack of Basic Services

The poorest in South Africa are vociferously protesting the lack or inadequacy of basic services such as clean water or electricity. More and more former black ghettos of the apartheid era and slums are being added to the list of places where people do not enjoy the minimum conditions. Residents have taken to the streets to demand a modicum of dignity after 20 years of so-called democracy. The civil ...Read full article...

Obama’s phony campaign against inequality

By Andre Damon WSW January 10, 2014 President Obama, announcing his so-called “economic promise zone” initiative in a White House speech on Thursday, gave a performance that expressed the cynical and contemptuous attitude of his administration and the entire ruling class to the plight of working people in America. The event was staged as part of the administration’s supposed campaign against inequality, whose entire substance, besides the “promise zones,” ...Read full article...

The Case of the Missing Economic Recovery

Have you seen the economic recovery?  I haven’t either.  But it is bound to be around here somewhere, because the National Bureau of Economic Research spotted it in June 2009, four and one-half years ago. It is a shy and reclusive recovery, like the “New Economy” and all those promised new economy jobs.  I haven’t seen them either, but we know they are here, somewhere, because the economists said ...Read full article...

Hunger in America

It’s hard giving thanks when you’re hungry. It’s harder living in the world’s richest country. It’s harder still knowing government officials don’t care. It’s hardest of all wondering how you’ll get by. More below on growing hunger and deprivation. It’s increasing in America at a time trillions of dollars go for warmaking, corporate handouts, and other benefits for rich elites. Giving thanks predated the republic. In 1621, Plymouth Pilgrims ...Read full article...

Obamacare to punish non-compliants with up to $4,000 a year

Those who refuse Obamacare will have the money taken from their bank accounts I will not comply with Obamacare. There. I said it. I am unequivocally not going to be complying with Obamacare. I also won’t be purchasing health insurance at 4 times the regular price, nor will I participate in the government-funded “exchange” for “affordable” healthcare. Now, first, let me be clear – this isn’t because I’d be ...Read full article...
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