Article Image
News Link • Education: Government Schools

With the US trapped in depression, this really is starting to feel like 1932

• Ambrose Evans-Pritchard via Telegraph.co.uk
 

"The economy is still in the gravitational pull of the Great Recession," said Robert Reich, former US labour secretary. "All the booster rockets for getting us beyond it are failing."

Ambrose Evans-Pritchard: Comment

"Home sales are down. Retail sales are down. Factory orders in May suffered their biggest tumble since March of last year. So what are we doing about it? Less than nothing," he said.

California is tightening faster than Greece. State workers have seen a 14pc fall in earnings this year due to forced furloughs. Governor Arnold Schwarzenegger is cutting pay for 200,000 state workers to the minimum wage of $7.25 an hour to cover his $19bn (£15bn) deficit.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


GoldMoney