US recession fueled by low wages and consumer debt

More at http://therealnews.com/c.php?c=070926YT
Leo Panitch: Weakening of unions and global pressures on US wages a major factor (1 of 2)

Thursday January 24th, 2008

Leo Panitch is the Canada Research Chair in Comparative Political Economy and a Distinguished Research Professor of Political Science at York University in Toronto. Panitch is also the author of Global Capitalism and American Empire.

Duration : 0:6:17


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25 Responses to US recession fueled by low wages and consumer debt

  1. NickolasDarling says:

    Nice try. Keep it …
    Nice try. Keep it up check out esteembpo + com for social media marketing. gfhfh

  2. GlobeNinja says:

    Chinas currency is …
    Chinas currency is a fixed rate compared to the usa. its value remains constant with the usa, 1 usd = 8.08 yen

  3. triumphelf says:

    Most of Chinas …
    Most of Chinas 3trillion Dollars of Currency Reserves are caught up in the US Market,China has Little Choice but to BUY More Government Bonds,Too keep up the Value of the Dollar..Chinas hoping for a Quick Recovery!

  4. yogeedogee says:

    One of the reasons …
    One of the reasons wages are kept low is immigration, especially illegal immigration. Interestingly, most of the foreclosures in my area were by immigrants.
    Unions aren’t the answer, because their leaders are stupid about markets. A “living” wage for a clerk at a donut shop will make a cup of coffee cost over $5. To afford this, customers would either not buy or demand higher wages from their employer. It is inflationary. The best way to get a decent wage is to acquire a marketable skill.

  5. louis12346 says:

    You will first have …
    You will first have to enroll in Obamas Mandatory volunteer Job service civilian service,real Patriot Act that brings out the patriot in all of us. We propose universal civilian service for every young American. Under this plan, All Americans will be asked to serve their country by going through three months of basic training,enlist them for three months of civilian service. biochemical, nuclear or conventional attack

  6. mycomlocal says:

    no… i’m off on a …
    no… i’m off on a euro 09 tour! run with the bulls, hit the autobahn, smoke a fat one on a pyramid and go off in ibiza 4 the end of summer parties. the world I’m selling everything & i’m outa here!

  7. louis12346 says:

    Are you going to …
    Are you going to Camp this Year? lol

  8. truefakeness says:

    I am so sick of …
    I am so sick of pseudo-leftists who pose as “anti-capitalists” and then just blabber on about unions and neoliberalism. If these people would ever pick up a book by a serious Marxist thinker they would realize pretty quick that unions do not do jack , and that no radical working class has ever wanted anything to do with unions.

  9. jtx1bx says:

    The US-MEXICO …
    The US-MEXICO borders are very sensitive area, it should be stood by the US troops like most countries & USA must create a DMZ!!! otherwise the USA will be falling OFF to the Ocean. (be invaded)
    MEXICO would become the Most Base of Terrorist-Gangs Smugglers Country in the World including Illegal Aliens-Sneaking into the USA. (Millions# illegals inside the USA already) Time is Running Out.
    MEXICO is Number 1 Crime & Terror in the USA.

  10. homesrustosave says:

    Don’t Get …
    Don’t Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk

  11. bertly71 says:

    An illegal strike.
    An illegal strike.

  12. mycomlocal says:

    The imf, world bank …
    The imf, world bank & other central banks just raped the world & now we’re their sex slaves tied up in the basement.

  13. RayAir1 says:

    I don’t think he …
    I don’t think he won the elections. For sure the first one was stolen. I agree, Bush sure is a dumb .

  14. RayAir1 says:

    Don’t forget the …
    Don’t forget the millions and millions of jobs that were taken away from American’s and shipped overseas.

    This is just an opinion, but if things don’t get better, if people lose it all, I see people “taking up the rifle” against those they deem responsible for this catastrophe. Personally, I would not shed a tear.

  15. unytcommsys says:

    So, situation …
    So, situation normal then.

  16. rayva1 says:

    There is a website …
    There is a website on socialism.

  17. rayva1 says:

    Socialist…org
    Socialist…org

  18. oo446611 says:

    think about this …
    think about this usa is wanting war with iran for israel, yet israel has more than 200 nucular weapons ,and is in violation of at least 63 un regulations , the world banks are the ones who sponser war , are you paying for this war in advance ???rich mans war poor mans blood, why are bankers still getting pay rises ??wake up

  19. oo446611 says:

    The Guardian errs a …
    The Guardian errs a bit in that last sentence, of coure. Almost all of the “conditions” mentioned in connection with the bailout have no teeth whatsoever, no enforcement mechanism, no real penalities. They are more properly termed “suggestions,” or rather, “PR exercises that we hope our Wall Street lords will deign to at least pretend to follow for a short time, until the heat is off.”

  20. oo446611 says:

    Staff at six banks …
    Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted criticism. The government’s cash has been poured in on the condition that excessive executive pay would be curbed.

  21. oo446611 says:

    Financial workers …
    Financial workers at Wall Streets top banks are to receive pay deals worth more than $70bn £40bn a substantial proportion of which is expected to be paid in discretionary bonuses for their work so far this year despite plunging the global financial system into its worst crisis since the 1929 stock market crash the Guardian has learned

  22. pathoplastic says:

    search:
    ” …

    search:
    “businesspundit the subprime mortgage primer”
    ;)

  23. instaman86 says:

    Hmm…maybe you …
    Hmm…maybe you shouldn’t have elected a moron president.

    !!!!!TWICE!!!!!

    I say it’s your own fault.

  24. o10ciano says:

    6 die in family …
    6 die in family murder-suicide in upscale LA home

    — An unemployed man with an advanced finance degree who was despondent over his own financial problems shot and killed his wife, three children, mother-in-law and then himself in an upscale home in a gated community, police said Monday.

  25. atlantasbest says:

    Watch Ramen noodles …
    Watch Ramen noodles Stocks skyrocket in the next 12 months… arent those made in China?? I´m sick of this big time….