An illusion of recovery?, Part 2 of 2

Note: Article originally published in Spanish for the weekly newspaper Claridad, August 13-19, 2009

As this happens, Wall Street has also been claiming that the recovery is on its way based on the “increase in value” of companies reflected in the stock market. What many of these companies have done is to cut back on costs (such as salaries by firing employees) so that even though they produce less and gain fewer revenues, profits can still be reported. These profits are based, among other things, in an increase in the degree of exploitation of the workers that still remain within the firm.

An illusion of recovery?, Part 1 of 2

On the 31st of July the government of the United States reported that in terms of its gross domestic product (GDP) the economy had contracted at “only” a 1% rate in the second quarter of the present year. This fact, combined with the reported profits of various corporations and the loss of “only” 247,000 jobs for the month of July, has been used to suggest that possibly during the second half of the present year the economy will probably experience the much awaited recovery that would finally put an end to the almost 2 year long recession. Various economists have expressed that such a tendency in the indicators evidences that the stimulus plans of the Obama administration are finally having the desired- even if retarded effect.

Influential Puerto Rican Activist Group the Young Lords Marks 40th Anniversary

From Democracy Now!

This weekend marks the fortieth anniversary of the founding of the revolutionary community organizing group the Young Lords. The group called for self-determination for all Puerto Ricans, community control of institutions and land, freedom for all political prisoners and the withdrawal of US troops from Vietnam, Puerto Rico and other areas. The Young Lords would also play a pivotal role in spreading awareness of Puerto Rican culture and history, leaving a legacy still felt today. We play excerpts of the documentary Palante, Siempre Palante!: The Young Lords and speak to three of the group’s original members: Luis Garden Acosta, Mickey Melendez, and Democracy Now! co-host Juan Gonzalez.

For more information, videos and audio, click here.