The rich recover as the poor suffer

[Blue_Tires]

Having managed to escape from the recession and find their way back to economic growth, Japan, Germany and France have risen from their sick beds, while the prognosis for the US and the eurozone is looking favourable.

In each of these countries it would seem the substantial doses of state aid injected into the financial sector have done their job, although the struggle continues against unemployment and lack of credit.

However, the economic health of many developing countries in Africa, Asia, and Latin America has worsened and will no doubt remain fragile for some time to come.

'Deeper wounds'

Analysts agree the current crisis is very different from previous ones.

The "tequila effect" in Mexico (1995) and the south-east Asia collapse (1997-1998) had their origins in emerging economies and had a limited impact on the developed world.

This time, in contrast, the crisis began in rich countries and contaminated the rest of the planet, causing upheaval in less-protected areas of the world.

http://news.bbc.co.uk/2/hi/business/8256788.stm

[fasttense]

1. But what about unemployment?

Basically all that has happened is that banks were given free money with no regulations.

Even in the rich countries, unemployment continues its relentless path upward.

How can you have a recovery, if unemployment is high?

How can unemployment be high, if you have a recovery?

[appamado amata padam]

2. That Headline,

"The Rich Recover as the Poor Suffer," could apply to just this country, as it does to the whole planet.

Yes, when and from where are the jobs going to come?

Is it time for some massive WPA-like programs?

[OHdem10]

3. Even the Democratic Party appears to have accepted a Society

(Country) in which there are relatively small numbers of SuperRich
followed by another small group of Rich, a diminishing middle
class, masses of poor and a permanent underclass. This model was
firmly cast in place under GWB as he adroitly put the tools
of Conservative Economic Fundamentalism in Place. The Democrats
have apparently accepted this as the American Model since
there has been no real change. They continue to have those
members from the South and West draw up policies and plans.
I will say again. Look at he Map. Where are the poorest
states in the Union? Which party has been the influence
in these states for the past 40 years? Yes, Conservative
Economic Fundamentalism promotes Business in Power, and a
community in which you have Rich, masses of poor and underclass
and a diminishing Middle Class. I used to joke GWB is
bringing to the Nation what he brought to Texas.

What ever happened to change we can believe in???

Oh, the "Rightie" Wing of the Democratic Party rules???

[bertman]

4. All welcome the return of Feudalism!!

Rec.

[paparush]

5. Congress acts swiftly to regulate ACORN, Wall Street Billionaires, not so much.

I'm staggered by the speed at which Congress moved to de-fund ACORN, while the current global financial meltdown has garnered virtually no new banking/investment regulations.