Economy

  • How low will it go?

    The U.S. economy is slipping deeper into the worst crisis since the Great Depression--and the rest of the world is tumbling down after it.

  • The crisis spreads past Wall Street

    Jobs are getting hard to hold onto--and even harder to find--as major corporations and governments alike aggressively slash their payrolls.

  • Blaming the victims of the crisis

    The right claims that working-class African Americans and immigrants are to blame for the housing crash that has triggered a financial panic.

  • A new Great Depression?

    As the economy worsens and the government carries out an unprecedented intervention, working people are rightly worried about the future.

  • Comrade-in-chief?

    Some right-wingers say the government's plan to buy into major U.S. banks is the latest sign of "creeping socialism." They've got it wrong.

  • Will you be able to afford to retire?

    Workers are finding that they will have to stay on the job years longer because the crashing stock market is stealing their retirement savings.

  • Fumbling for solutions

    The heads of the Group of Seven industrialized nations promised to cooperate to contain the financial crisis--but then embarked on rival national strategies.

  • The panic of 2008

    Wall Street's worst-ever week was part of a global stock market meltdown that could signal a far more devastating stage of the financial crisis.

  • Robbed to rescue the rich

    The financial disaster shaking the world today is the result of a free-market system that protects the wealth of a few, while the rest of us pay the price.

  • Chicago sheriff stops evictions

    The bankers in Chicago are angry with--of all people--the county sheriff, who is refusing to forcibly remove residents from foreclosed properties.

  • What could $700 billion do for the rest of us?

    SocialistWorker.org takes a graphical look at how Washington's bailout for Wall Street could be used to help working people.

  • Bankruptcy of an ideology

    For a generation, the financial consultants and policymakers intoned a mantra celebrating the majesty of the free market.

  • Why the panic won't stop

    World stock markets greeted Congress' passage of the so-called Troubled Assets Relief Program with an international meltdown.

  • A guide to the Wall Street meltdown

    For everyone who can't make heads or tails of the media's account, SocialistWorker.org explains the causes and consequences of the financial crisis.

  • Recession's mounting toll

    Economists may be quibbling over whether a recession has officially begun, but the standard of living for workers has already taken a deep cut.

  • One "Sicko" responds to the bailout

    A health care activist describes how she was treated when she called her congressional representatives to ask for a "no" vote on the Wall Street bailout.

  • The making of the free-market meltdown

    SocialistWorker.org answers your questions about the worst financial crisis since the Great Depression--and what U.S. political leaders are doing in response.

  • The road to ruin

    Deregulation caused the financial chaos that is hammering an already slumping world economy--and both Democrats and Republicans are to blame.

  • Countrywide criminals

    The politicians have little to say about the fast-talking mortgage companies that dumped sub-prime mortgage loans on inexperienced borrowers.

  • Working harder and falling behind

    The expectation of rising living standards for each generation of U.S. workers has given way to a low-wage economy where it's a struggle to get by.

  • Squeezed out in New York City

    While the mortgage meltdown is making headlines, renters are being priced out of affordable housing, too, especially in cities like New York.

  • Rescuing the rescuers

    The government bailout of Fannie Mae and Freddie Mac could cost tens of billions of dollars--and taxpayers will be the ones to pay.

  • Bled dry by the oil giants

    It's hard to grasp the immensity of ExxonMobil's profits for the second quarter of this year--the biggest of any corporation in U.S. history.

  • Grim and getting uglier

    Despite the latest statistics showing U.S. economic growth, the figures on jobs and inflation reflect an economy that's still on the decline a year after the financial crisis began.

  • Don't cry for Doha

    The media reported that the collapse of the Doha Round of trade negotiations is a big failure for the world’s poor countries. But is this true?