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Columnists

The European financial meltdown -- next in a continuing series

As I write, the Europe's sovereign debt crisis is a ticking bomb. Unprecedented events are happening at a mind-spinning pace. In the middle of last week the BRICS (Brazil, Russia, India, China and South Africa) offered to help bail out the struggling European countries. By the end of the week, the European central bank, the U.S. Federal Reserve and other central banks announced that European banks would be showered with "unlimited" loans to help them.

The reason for all of these sudden extraordinary measures is the fear that an impending European financial crisis could make the events of 2008 look like minor leagues. It is a justified fear. If financial panic spreads and speculators go for blood, it will be almost impossible to stop the chaos.

press release

Richest one per cent's share of wealth at historic high

TORONTO - Canada's richest one per cent are taking more of the gains from economic growth than ever before in recorded history, says a new report by the Canadian Centre for Policy Alternatives (CCPA).

The Rise of Canada's Richest one per cent looks at income trends over the past 90 years and reveals the 246,000 privileged few who rank among the country's richest one per cent took almost a third (32 per cent) of all growth in incomes between 1997 and 2007.

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Gerry Caplan

The cheating rich

| March 27, 2012
Columnists

Harper seems determined to turn Canada into anti-union paradise

Hundreds of shivering factory workers locked out of their plant by manufacturing giant Caterpillar in London, Ont., might well draw some warm comfort from -- of all things -- the sayings of Newt Gingrich.

Of course, the conservative Republican presidential contender is no friend of labour or social justice; he recently proposed that poor children be schooled in the ways of free enterprise by being hired to clean school washrooms.

Nonetheless, Gingrich, one of the stars of the Republican freak show, is desperate to defeat front-runner Mitt Romney. With the mitts off, Gingrich is denouncing Romney's background as a Wall Street corporate raider, accusing him of practising a form of capitalism where "you basically take out all the money, leaving behind the workers."

Columnists

Occupy: Why now and what's next?

Naomi Klein: One of the things that's most mysterious about this moment is "Why now?" People have been fighting austerity measures and calling out abuses by the banks for a couple of years, with basically the same analysis: "We won't pay for your crisis." But it just didn't seem to take off, at least in the U.S. There were marches and there were political projects and there were protests like Bloombergville, but they were largely ignored. There really was not anything on a mass scale, nothing that really struck a nerve. And now suddenly, this group of people in a park set off something extraordinary. So how do you account for that, having been involved in Occupy Wall Street since the beginning, but also in earlier anti-austerity actions?

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