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14.09.2009, 17:34

Marking a year of world’s financial woes

It's a year since the collapse of investment bank Lehman brothers, which heralded the start of the global financial meltdown. US President Obama addressed the nation from Wall Street.

15.09.2009, 09:36 6 comments

BRIC to call the shots in post-crisis world

The past year of economic decline has seen Washington’s influence on the wane, as well as London’s, and the way is now open for other countries to decide policy. Among them: Russia and her BRIC colleagues.

21.10.2009, 02:06 4 comments

Every sixth American lives in poverty

34 million Americans are relying on the food stamp program for everyday essentials. It’s mostly the elderly who are suffering.

13.11.2009, 22:38 4 comments

Pembroke: the most broke town in Obama’s home state

There’s broke and then there’s Pembroke (Illinois, that is). Located in the northern county of Kankakee, the township of Pembroke is now suffering a crushing 46% unemployment rate.

Photo from socialismdoesntwork.com 05.11.2009, 10:59 3 comments

The billionaire bailout society

The new financial instruments invented about 30 years ago helped the America’s wealthiest to suck up the extra wealth created by deregulated finance system, explains Les Leopold, author of “The Looting of America”.

United States, New York : The headquarters of the Lehman Brothers investment bank on Sixth Avenue is seen on September 14, 2008 in New York (AFP Photo / Michael Nagle) 15.09.2009, 08:28 3 comments

Black Monday one year on: what’s in sight?

September 15 marks the economic 9/11 that shook the US last year. Global financial services firm Lehman Brothers collapsed and became a symbol of the largest bankruptcy in American history.

05.04.2010, 12:45 3 comments

“The US economy will not recover for at least another decade” – Engdahl

American bankers see themselves as the gods of money, a class above mere mortals, and they can do what they wish, said renowned economic researcher and historian William Engdahl in an interview with RT.

Screenshot from "Idle Hands" 11.09.2009, 09:05 2 comments

Crisis breeds generation of unemployable

Hit by the recession, the once-prosperous UK town of Swindon has one of the highest unemployment rates in the country. Many fear it will lead to a whole generation of people who've lost their will to work.

Detroit 18.06.2010, 09:51 2 comments

Hope of recovery for former US auto powerhouse?

Detroit used to be one of America's premier auto manufacturers, but with the demise of its carmakers, Detroit’s residents are facing rising unemployment and crime in a city which has become a shell of its former self.

AFP Photo / Louisa Gouliamaki 16.04.2010, 23:19 2 comments

Greek crisis to crash Eurozone utopia?

The eurozone’s secret is that its pockets are a little dusty. It could print or borrow the cash to bail out Greece and but it knows that would not be the end of it.

“The crisis is not over yet”

Published: 14 September, 2009, 23:22

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TAGS: Crisis, Crisis Chronicle, USA, Economy


There are signs that economies of other countries are improving, like Japan, France and Germany, but we don’t see it here in the US, says RT contributor Wayne Madsen.

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US, Alexandria : A dose of flu vaccination is administered during an exercise at TC Williams High School September 11, 2009 (AFP Photo / Win McNamee) 14.09.2009, 22:04 2 comments

Swine flu vaccine raises concerns

The first swine flu vaccines could be available to Americans by the first week of October. However, Barbara Loe Fisher, President of the National Vaccine Information Center, has expressed concerns about the vaccination.

15.09.2009, 01:23

“Congress tries to reassert its authority by means of czar bill”

US lawmakers are cracking down on the funding of special advisors, the so-called “czars”, in charge of specific social programmes.