Feeds:
Posts
Comments

Posts Tagged ‘crisis’

Among the lesser-reported impacts of the Great Recession, during which time millions of Americans lost their homes to foreclosure, is the continuing surge in rental housing demand. Demand has inflated rental rates in already costly markets throughout the country. But rental price inflation is not just a problem hitting high cost of living regions in California and New York — it has hit 90 cities nationwide with no end in sight. Rental costs between 2011 and 2012, alone, increased 4 percent nationally, whereas rents in some markets during a broader period — between 2000 and 2012 — have inflated nearly 25 percent, a study by the Joint Center for Housing Studies of Harvard University reports.

High demand and short supply means one thing: higher prices. But housing isn’t merely a luxury people can forgo. Increased demand for rental housing post recession does not merely reflect the fact that mortgage lending standards are more stringent, but the reality that many Americans are still attempting to rebound from a downwardly mobile spiral. Just because rents are rising doesn’t mean renters are in a position to absorb the price hikes. To the extent rental property demand is an outgrowth of the economic meltdown and stagnant wages — in spite of job growth in more recent years — it would appear housing reform is a topic seriously overdue for national attention.

(more…)

Advertisements

Read Full Post »

Some years after the G. W. Bush administration’s entry into the Iraq war, American news outlets admitted to dropping the ball. Mainstream media acknowledged they did too little to question the purported evidence of weapons of mass destruction in Iraq, whereas challenges to the Bush administration’s assertion that Iraq and the 9/11 tragedy were linked aired only belatedly. Over a decade later, the U.S. media has again dropped the ball. This time, though, the actors are different: Ukraine vs. Russia.

To hear mainstream U.S. media tell it, one could be forgiven for the belief that any and all claims of a Neo Nazi presence in Ukraine are propagandist fragments of Russian President Vladimir Putin’s imagination. The tragic shoot-down of Malaysian flight MH 17 — on the anniversary of World War I — has only added to the pressure that the West intervene. Still, media fails to recognize its role in perpetuating conflict.

Shortly before the U.S. began trotting out the interim Ukrainian prime minister following the overthrow of Ukraine’s democratically elected president earlier this year, The Guardian published profiles of Ukrainian parliament members. Putin, it turns out, was not lying. Historically, elements within the region sympathized with fascist Germany and some fought on Hitler’s side during World War II, prompting animosities that exist to this day.

Why does this matter? Because failure to appreciate our present — and to grasp our past — may doom us to repeat history.

In an apparent effort to turn down the heat, journalist and Morgan State University School of Global Journalism and Communication dean, DeWayne Wickham, argues in a March USA Today piece that U.S. hegemony in the creation of Panama and Russia’s hegemony with respect to Ukraine are not terribly different.

Judging from the response the piece drew, Wickham’s point was lost on many readers. Accusations mounted: Wickham had attempted to excuse Putin’s audacity in Crimea. Wickham had cited an passé example, irrelevant because the creation of Panama took place over 100 years ago.

It’s all too easy to dismiss the events of the past — or, conversely, latch onto the tragedy of the moment (flight MH 17) — to justify an existing conclusion. But this time getting the facts right matters because the wrong response may very well provoke another Great War.

Wickham concludes that neither the U.S. or Russia has the moral high ground within a historic context. So what’s the point in comparing U.S. and Russian hegemony if it is not for the purpose of excusing anyone? Perhaps this: As Americans better appreciate our role in history, it becomes apparent that escalating international tensions often travel a well-worn path. If keeping history alive to tell the tale of hubris past gives pause to the drums of war, so be it. The alternative is to take two, three, four, even five geopolitical wrongs and to make-believe might makes right.

Haven’t we been down this road before?

 

(more…)

Read Full Post »

She’s the world’s wealthiest woman you’ve never heard of and she’s saying something you probably wish you hadn’t: “Gina Rinehart, world’s richest woman, makes case for $2-a-day pay“,the Los Angeles Times reports.

The Australian mining heiress has a problem. The cost of running a mining operation in Australia cannot compete with Africans willing to work a continent away for $2 per day.

There’s a certain elementary logic to Rinehart’s argument. If the two nations are selling raw materials at vastly different prices because of vastly different costs of labor, her operation loses. In a worse-case scenario, it might not even make sense to go on operating. From Rinehart’s perspective, profit is the objective and benevolence is a job — never mind if the jobs she creates fails to compensate workers well enough to keep the lights on. She’s precariously positioned on that slippery slope so common to today’s political and trade debates: It could be worse: no jobs.

The world’s richest woman has a point. But it doesn’t pass the sustainable-future test.

(more…)

Read Full Post »

Older Posts »