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May 03, 2016

On This Day in 1930:
President Herbert Hoover declares that the stock market crash six months earlier was just a "temporary setback" and the economy would soon bounce back. In fact, the Great Depression was to continue and worsen for several more years.

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Labor Headlines

US labour news headlines from LabourStart

Bust a Union…Crash a Global Economy
Updated On: Nov 14, 2012

Nov. 14, 2012 | …What on earth does union busting have to do with crashing an entire global economy? Let's take the USA first. It doesn't take a Ph.D in economics to figure out that people will do what they need to survive. As union busting became a national sport here, wages remained frozen or even declined. But our financial system came to the rescue with that magic plastic we called credit cards and that magic paper we call loan contracts…Debt went through the roof…Debt has become the new slavery. Chains of iron are replaced by chains of plastic and paper…Now you tell me. Was it such a great idea to go on a union busting rampage and pay workers with credit cards and dicey loan contracts instead of decent wages, benefits and low interest loans? Read the full story at Working Class Heroes.









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Updated: May. 03 (01:01)

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