Tag: economy

No game-changer electoral game

By Malladi Rama Rao CONGRESS politicians of Delhi school seldom speak their mind. When they do, they are careful enough to not harm the interests of the high command and at the same time they ensure that their place under the Banyan tree is safe and secure. So much so, the comments of Chief Minister, Sheila Dixit (76), against the Delhi Police are good food for thought. On the Women’s Day, she lamented that her own daughter felt insecure in Delhi as it became a crime capital of India. She did not field the obvious question – if a CM’s

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Global “economic recovery” distant dream still

By Nick Beams Any conception that the world economy would experience a “recovery” in the wake of the global financial crisis has been shattered by the latest figures coming from Britain and the United States. The British economy grew by only 0.5 percent in the first quarter of this year following a contraction of the same amount in the last quarter of 2010. The flatlining of the past six months has prompted warnings that Britain is on the edge of a “double dip recession.” In the US, the annualised growth rate for the first quarter was down to 1.8 percent,

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US tax data shows falling wages, rising inequality

By Andre Damon and Tom Eley, wsws.org Average annual wages for US workers fell by $457 in 2009 and the median annual wage fell by $247 to $26,261, according to recently updated data from the Social Security Administration (SSA). The incomes of the top-earning corporate executives barely budged in 2009. The pay of the handful of individuals making over $50 million fell by about 7 percent 2009, despite the fact that stocks fell in value by 40 percent, demolishing the claim that executive bonuses are tied to corporate “performance.” Last year, in the midst of 10 percent unemployment, a relative

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