The South African Civil Society Information Service
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
On Thursday, stock markets around the globe crashed again -- likely due to concerns about the crisis in Europe and perhaps profound concern about the growing recession around the globe.
Investors immediately started buying US dollars and American treasury bills. Thus, despite ongoing predictions about the crash of the US dollar, quite the contrary seems to be happening.
Helping to make sense of this latest development is Prof. Leo Panitch, author of the book, "In and Out of...
Mark Weisbrot -
The Euro is crashing today to record lows against the Swiss Franc, and interest rates on Italian and Spanish bonds have hit record highs. This latest episode in the Eurozone crisis is a result of fears that the contagion is now hitting Italy. With a two-trillion dollar economy and $2.45 trillion in debt, Italy is too big to fail and the European authorities are worried. Although there is currently little basis for the concern that Italy’s interest rates could rise high enough to put its...
