Peripheral Revision

Unfiltering history as we live it

Archive for the ‘United States – Economy’ Category

Developing Economies Taking Lead Over ‘Rich’ Countries

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AP, March 30, 2011

The world’s biggest economies are recovering from the Great Recession at troublesome speeds: too fast or too slow.

China, India and other major developing countries quickly returned to breakneck rates of growth after escaping the worst of the economic downturn in 2008 and 2009. Their rapid recoveries showed for the first time that emerging economies have grown big and strong enough to thrive independently while the United States and other rich countries struggle.

And today, to an unprecedented degree, the developing world is driving the global recovery, instead of relying on the United States for economic leadership as it used to. This picture emerges from The Associated Press’ new Global Economy Tracker, a quarterly analysis of 22 countries that account for more than 80 percent of the world’s economic output.

The shakeup in the world’s economic order has taken 30 years. The developing world’s share of global economic output has risen from 18 percent in 1980 to 26 percent last year, the World Bank says. So growth in emerging markets now has a far bigger effect on the world’s economic performance.
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03/30/2011 at 1:56 am

Owners’ Lock Out of NFL Players Raises Some Big Questions

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Public employees in Madison and professional football players in Green Bay both face powerful and hostile managements trying to undermine their unions.

David Morris, Alternet, March 24, 2011

What do public employees in Madison earning $40,000 a year and professional football players in Green Bay earning $1.5 million a year have in common? They both face powerful and hostile managements trying to undermine their unions.

The battle between labor and management is always uneven. Up until the 1930s management didn’t even have to negotiate with its workers. Owners could fire union organizers. Courts routinely declared unions an illegal “restraint of trade” and ruled that by trying to negotiate collectively unions were violating the “contract rights” of individual employees and giant corporations to freely negotiate salaries and working conditions.

Only in 1937 did workers finally gain the legal right to form unions and bargain collectively. Corporations were legally required to bargain “in good faith”. Congress established the National Labor Relations Board (NLRB) and gave it judicial authority to enforce labor rights. The NLRB did so enthusiastically for the first few decades, modestly in the 1970s, and not at all after Ronald Reagan took office when he nominated, and Congress confirmed as Chairman of the NLRB Donald Dotson, a man who viewed collective bargaining the way 19th-century courts did, as “the destruction of individual freedom, and the destruction of the marketplace as the mechanism for determining the value of labor”.

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Written by peripheralrevision

03/27/2011 at 3:46 pm

Bombardment with social expenditures: Libya intervention good for profits, bad for taxpayers

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The majority of Americans definitely do not cheer to the Libyan drums of war stripping the budget with every stroke, but some in US can actually benefit from a longstanding campaign.

The reported cost of a single Tomahawk missile launched into Libya is from 1 to 1.5 million dollars. It has only been a few days into operation Odyssey Dawn and already the cost of the bombardment from sea and air are skyrocketing. The price of day one alone was more than 100 million dollars.

“Within the first two hours they fired 110 cruise missiles, so right there thousands of teachers of course could be paid for,” said Sara Flounders, a co-founder of the International Action Center in New York.

Can the country afford getting involved again, coming at a time when teachers not to mention other public workers are fighting to keep their livelihoods, close to 10 per cent of people are unemployed, and the country faces 14 trillion dollars of national debt? The US has already committed trillions to ongoing wars in Afghanistan as well as Iraq. Yet despite all this, has moved to the helm of this international intervention.
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Kucinich on Libya: Defund the intervention, “Humanitarian war is an oxymoron”

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“The cost of this war for one week will be half a billion dollars. The money is coming…we’re either borrowing it or cutting domestic priorities. We’re telling people they can’t have jobs programs but they get war, you can’t have health care for everyone in America but we get war, you can’t have education for all but you get war, you can’t save people’s home but you can have war.”

Amid the ongoing coalitional bombardment of Libya it turns out President Obama may have had no constitutional authority for ordering US military involvement. US Rep. from Ohio Dennis Kucinixh says the use of US armed forces is unconstitutional, explaining Obama had no authority to commit US resources without congressional approval. The US now finds itself involved into another war in addition to Pakistan, Iraq and Afghanistan. ‘Bombing villages in order to save villages’ — that didn’t work in Vietnam, Kucinich explained. In fact, he argued this time around the Libyan intervention could end up strengthening US enemies.

Rep. Dennis Kucinich: Defund Libya attack

JAKE SHERMAN, Politico, March 21, 2011

Liberal Ohio Rep. Dennis Kucinich plans to offer up a measure that would defund U.S. efforts in Libya.

According to a letter blasted to his email list, Kucinich plans to offer an amendment to the next spending bill to ensure no federal funds go to the bombing campaign in Libya.

The amendment would give Congress a more concrete opportunity than they’ve had to challenge President Barack Obama on Libya, a subject that has riled both sides of the aisle.
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It’s the Inequality, Stupid: The polarization of American wealth, in pictures!

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Eleven charts that explain everything that’s wrong with America.
— By Dave Gilson and Carolyn Perot , Mother Jones

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Written by peripheralrevision

03/10/2011 at 4:08 am