US job cuts, foreclosures mount
- This week brought new indications that any economic “recovery” in the US will not be shared by the working class. Telecommunications giant Verizon announced that it would eliminate 8,000 jobs by the end of the year, new data showed that the foreclosure crisis is continuing to mount, and weekly initial jobless benefit claims rose.What is emerging is a protracted period of extremely high unemployment and growing social misery, which will be used to further slash wages, increase productivity and lower the standard of living and social position of the working class.
US turning into 3rd world country with the gap between rich and poor getting bigger and bigger ... Capitalism at it's best! The unemployed should "Rise up and Revolt" Socialism is the new future.