Quote:
Originally Posted by Army_of_One  "Big Oil"....
You must mean the oil companies. We have been through this before. Yes they are making a profit.... |
Just take Exxon, the world's largest oil company. It's turnover in 2006 was
$405.55 Billion - bigger than the gross domestic product of Turkey, the world's 17th largest economy!
It declared record profits for that year of
$40.6 Billion!!
I'm certainly not against the profit-motive, but there is something obscene about such profits in today's world when you read such about such things as below, in what is after all the largest & richest economy in the world - we haven't even got to third-world countries yet!
USA 2008: The Great Depression
Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive – a sure sign the world's richest country faces economic crisis
Disadvantaged Americans queue for aid in New York
Related Articles By David Usborne in New York
Tuesday, 1 April 2008
We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families.
Dismal projections by the Congressional Budget Office in Washington suggest that in the fiscal year starting in October, 28 million people in the US will be using government food stamps to buy essential groceries, the highest level since the food assistance programme was introduced in the 1960s.
For full article:
USA 2008: The Great Depression - Americas, World - The Independent