Signs of Financial Desperation Abound in the New Economy
65Recession effects show up as desperation
As economic conditions continue to deteriorate around the world, the effects of the recession are manifested in desperate actions for food and money. There are laid off workers in China rioting due to the collapse in demand for Chinese made goods. A Colorado farmer allowed the public to pick left over vegetables from the harvest, letting them keep what the could pick. He expected a few hundred people to show up to help him pick the fields clean.....40,000 showed up. In Chicago workers are staging a sit-in protest at a factory after being laid off. The Iceland banking system has collapsed after years of excessive borrowing and extreme leveraging. Now Icelanders who have lost money are beginning to protest en masse.
With 500,000 jobs lost in November alone in the U.S., more and more people are being put into strenuous financial situations and will do anything to save money or get money for food. The articles below provide examples of the effects that the recession is having around the world on ordinary people.
The State of the Economy
- Illinois Governor Suspends Business With Bank Of America
Illinois Governor Suspends Business With Bank Of America - The Huffington Post - Video Included - 40,000 Show Up for Free Food at Colorado Farm
A farm couple got a huge surprise when they opened their fields to anyone who wanted to pick up free vegetables left over after the harvest: 40,000 people showed up. - Workers Riot At China Toy Factory
Some 500 workers smashed windows and computers at the offices of Kaida Toys, overturning patrol cars and fighting with 1,000 police in the city of Dongguan, often called the toy-making capital of the world... - Worker dies at Long Island Wal-Mart after being trampled in Black Friday stampede
A worker died after being trampled and a woman miscarried when hundreds of shoppers smashed through the doors of a Long Island Wal-Mart Friday morning, witnesses said. All for cheap toys and TVs. - Idled workers occupy factory in Chicago - Yahoo! News
Workers laid off from their jobs at a factory have occupied the building and are demanding assurances they'll get severance and vacation pay that they say they are owed. News, Headlines and Latest Stories on Yahoo! News - In lean times, SoCal residents trade guns for food - Yahoo! News
A program to exchange guns for gifts brought in a record number of weapons this year as residents hit hard by the economy look under the bed and in closets to find items to trade for groceries. News, Headlines and Latest Stories on Yahoo! News - Iceland banking crisis video and more
Video and articles from the Iceland banking crisis which has ruined the economy there and has brought about mass protests.
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