25 February, 2009 – A Socialist Project e-bulletin No. 1891. The current economic crisis has to be understood in terms of the historical dynamics and contradictions of capitalist finance in the second half of the 20th century. Even though the spheres of capitalist finance and production are obviously intertwined (in significant ways today more than ever before), the origins of today’s US-based financial crisis are not rooted in a profitability crisis in the sphere of production, as was the case
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New research report from the Urban Institute:”With the economy mired in the deepest recession in decades a drop in economic activity that has been compounded by continuing mortgage defaults, a historic decline in housing prices, falling equity values, illiquid credit…
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President Obama went right to the heart of the economic crisis Wednesday with a plan intended to rescue as many as nine million American families at risk of losing their homes.
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Mayor Amicone’s Deficit Reduction Plan Is Working, But City Not Out Of The Woods; Expenses Significantly Reduced, But Revenues Continue To Drop In Economic Crisis Yonkers, NY — City officials released financial data today showing strong indications that Mayor Phil Amicone’s deficit reduction plan enacted in December has closed a projected $16 million mid-year budget gap, putting the city on pace to end its fiscal year in the black. The report i
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WASHINGTON – Keeping the economy front and center, President Barack Obama heads west this week to sign the $787 billion stimulus bill and tackle the home mortgage foreclosure crisis. The direct appeals for public support follow scant GOP backing in Congress for his agenda and increasing partisan bickering.
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