Sunday, July 27, 2008

Bad Times Keep Rolling

Things look like they're not going to get better any time soon thanks to our friend the 'Credit Crunch'. Canada just ran a budget deficit in April, losing half a billion dollars compared a $2.8 billion surplus in 2007.

The Mogambo Guru, a writer for the Asian Times (I think his moniker is ripped off from Casablanca), is telling everyone to buy as much gold as possible (which explains those stupid gold-buying ads) and explains that even the adult entertainment industry is feeling the pinch.

"According to the AP, the Association of Club Executives, which is "a group that represents adult entertainment clubs" and whose spokesperson Angelina Spencer says she, "fields calls every day from strip-club owners feeling the pinch of a bad economy."

Unfortunately he also notes, rather crudely, that more and more women are going into the profession to pay the bills.

Sadly, even the world's best socialist regimes are also feeling the crunch. Cuba's Castro-Dos, just gave a speech preparing people for a shock though he's not bringing in any more reforms.

Though enacting the reforms seen below, I don't think Cuba is abandoning anything outright. I figure that for the most part, Cuba wants access to the US economy and so are making some cosmetic changes in the hopes of getting more developed. Whether or not this opens pandora's box in the future remains to be seen, but for the most part, it seems as if Cuba has been weathering the storm well and educating their population consistently.

From the BBC:

February - signs two human rights agreements at the UN
March - lifts ban on Cubans staying in tourist hotels
May - lifts ban on private ownership of mobile phones
June - announces plans to abandon salary equality
July - decrees state-controlled farm land can be leased to private farmers and co-operatives

From AlJazeera:

"Other policy changes, such as the right to own private taxis or farmland and the lifting of salary ceilings, have been approved but are yet to be fully implemented.

Cuba still experiences shortages of power and food but electrical outages have become rarer and shorter."

No comments: