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Links 1 through 10 of 22 by Latoya Peterson tagged economy

"They are the more than one million migrants who, fleeing from poverty, took to the road with no heed for the danger, even of losing their lives. Labeled as illegal, they defied the imperialist authorities and, after much sacrifice, arrived in the United States. Their remittances, beyond being a help for their families, are basic to the national economy.
According to the analyst, Honduras’ macroeconomic balance came about beginning in 1994 as a result of the remittances from migrants and reached a peak in 1998, with the passing of hurricane Mitch.

"Until 1998, Honduras was receiving 600 million lempiras [about 31 million US dollars] in remittances, but that natural event not only brought about the disaster of the moment but even revealed what had been happening all along. 'And it seems that that touched the migrants and they took on the habits of the Salvadorans, who had been the greatest source of remittances for their country, and then they began to send remittances,' he said."

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"'For communities of color around the country, a 'lagging collapse' may be ahead, said Alan Mallach, a nationally known housing expert who has done extensive on-the-ground research into the foreclosure crisis. Prince George’s county is a case in point. The nation’s wealthiest majority-black county, it has been devastated by the foreclosure crisis. Heavily targeted by subprime lenders in the boom years, the county is now staggering under the weight of abandoned homes and plummeting prices. The county received more than 7,100 notices of intent to foreclose in March.

“'I think it’s grim. And it’s going to be grim for a while. I’m not sure we’re anywhere near the aftermath yet. We’re still in the middle of the storm,' said Mallach."

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But you knew this, Racializens.--AJP

"The report found that there was a strong correlation between social inclusion, competitiveness and economic development, and argued that 'prejudice, in whatever form – including racism, sexism, homophobia, religious intolerance – irrationally destroys the value of human capital.'

"'Hypothetically, what would happen if the secret of energy efficiency, or to greater food productivity is locked up in the mind of somebody who is denied the ability to develop because of their race or their religious beliefs or their sexual orientation? That's the sort challenge that we now face,' Donovan said."

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"Is the "Age of America" drawing to a close? According to the International Monetary Fund (IMF), its demise as the leading economic power is five years away and the next president of the United States will preside over an economy that plays second fiddle to China's."

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"Muslim neighbourhoods are being transformed by rising affluence, a result that supports the claim by Immigration Minister Chris Bowen that multiculturalism in Australia is working.

"The Muslim heartlands in our major cities are thriving places -- surprisingly so. Unlike in Britain and Europe, the migrants allowed into Australia have skills that enable them to make the most of our strong economy, says Oliver Marc Hartwich from the Centre for Independent Studies."

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"Sheryll Cashin, who teaches constitutional law and race and American law at Georgetown University, says it would be a shame if black flight from the city set off black flight from the near suburbs.

"Some blacks just don't want to live near other blacks, she says: 'There is classism within the black community. The foreclosure crisis may be accelerating it.' But she says middle-class blacks, like middle-class whites, are also put off by behavior of impoverished blacks who 'have developed their own culture, one that is very different from mainstream America.'"

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"So where's the flipside to the story of upward mobility in India? It is the story of poorer India. Primarily agricultural, this India comprises more than 50% of the population but accounts for only 15% of the economy. Life in India's villages is altogether different: it is still concerned with the anxieties of getting two square meals a day. In recent years, while the Indian economy has grown at an average annual rate of 9%, the agricultural sector has grown at 3%. An exponential price rise of 17% in January compared with the same period last year, for food staples that include eggs, fruits, milk and onions, has hurt this section of the population the most."

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"Despite severe losses during the recession, the majority of African Americans see the economy improving and are confident that their financial prospects will improve soon.

"That optimism, shared to a lesser degree by Hispanics, stands in stark contrast to the deeper pessimism expressed by a majority of whites. In general, whites are more satisfied with their personal financial situations but also more sour about the nation's economic prospects."

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"Nearly 40 percent of black New Yorkers who had held a job previously were unemployed for more than 12 months during the recession and early part of the recovery. That compared with 24 percent for whites, 27 percent for Latinos and 26 percent for Asians. For men aged 55 to 64, 34 percent were unemployed for more than a year."

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"Nearly half or more express intense worry over losing their jobs, paying bills or saving for college, and similar numbers say they or a relative were unemployed recently — all of it worse than the general population's experience.

"'There's nothing stable,' said Alberto Alvarez, 49, a Cuban immigrant and construction worker in Miami. 'Today there's a job. Tomorrow there's another. And the next, there's nothing.'

"More than 1,500 Latinos were interviewed for the poll, which was conducted as the nation's unemployment rate hovered near 10 percent and the economy struggled to recover from the worst recession since the Great Depression."

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