The economy is just the canary
June 30, 2007, 10:45 am
Filed under: collapse, dollar collapse, economy, poverty, US dollar

The Ecology of Work (Orion Magazine)

Environmentalism can’t succeed until it confronts the destructive nature of modern work.”

Half of states tax families below the poverty level (TaxProf blog)

U.S. debt could trigger dollar collapse (Press Esc, community based reporting)

The United Nations warned today. United States debt, which had now deepened to well over $3 trillion, might turn out to be unsustainable in the rest of 2007 or next, putting further downward pressure on the United States dollar, Rob Vos, the Director of the Development Policy and Analysis Division of the Department of Economic and Social Affairs (DESA), told correspondents at a Headquarters press conference…He pointed out that since its peak in 2002, the dollar had depreciated vis-à-vis the major currencies by some 35 per cent and by 25 per cent against a broader range of other currencies.”

China shifts to Euros for Iranian oil (Scotsman)

Iran to stop using US dollars to price oil (International Herald Tribune, UK)

Top sub-prime US lender in Chapter 11 bankruptcy moves (BBC)

As US richest get richer, family income share drops (Catholic Online)

Shadow government” of private contractors explodes under Bush; Federal spending to Halliburton has increased 600% from 2000-2005 (Raw Story)

Largest prison inmate increase since 2000 (CBS)

EXCERPT: “The total number of people incarcerated by federal or state authorities in the year ending June 30, 2006, was roughly 1.6 million, the government said Wednesday. That translated to a 2.8 percent increase from the previous year, due to people being put in prison at a faster rate than those released. Overall, the total number of people behind bars, including those held in local jails, was more than 2.2 million, according to the Justice Department’s Bureau of Justice Statistics…The number of federal prisoners increased by 3.6 percent to reach 191,080. Nearly 6 out 10 people behind bars nationwide were black or Hispanic.”

Former Federal Reserve official told Congress 25% of American jobs vulnerable to offshoring (EETimes.org)

It’s official: the collapse of the U.S. economy has begun (Center for Research on Globalization)


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