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Now They Tell Us

Now They Tell Us

By Orville Schell, Michael Massing
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Tag: Depression

The Right’s Twisted Blame Game

Listening to the president’s critics, it would be easy to believe that Obama is responsible for the deficits, bailouts, bonuses, nationalized institutions and careening markets. It would be easy to believe but it’s entirely false.

Posted on Mar 26, 2009 READ MORE


From Frozen Minds, a ‘Spending Freeze’

Things are bad, and very likely to get worse—but the Republicans seem determined to plunge us into a real depression, gambling that catastrophe would return them to power.

Posted on Mar 12, 2009 READ MORE


Chow Chows
kukuchew.com

Unemployment Keeps On Rising

Not since Ronald Reagan’s reckless free marketeering have we seen unemployment this high: The U.S. jobless rate hit 8.1 percent in February, with 651,000 jobs cut during the month.

Posted on Mar 6, 2009 READ MORE


The A Word

Recently, I’ve been groping for the precise word to characterize the zeitgeist of this (unfortunately) historic moment—a word I finally found during a visit last week to central Mexico.

Posted on Mar 5, 2009 READ MORE


Jon Stewart Is Mad as Hell

What’s more offensive than CNBC reporter Rick Santelli’s rant against Barack Obama’s supposed intention to throw only a table scrap of bailout money to foreclosed homeowners? His network’s laughable coverage of the biggest economic news story since the Great Depression.

Posted on Mar 5, 2009 READ MORE


Government’s Long Night May Be Ending

Obama’s message was plain: The era of bashing government is over. So, too, is the folklore of a marketplace capable of producing abundance without regulation, oversight or public intervention.

Posted on Feb 25, 2009 READ MORE



Flickr / _Patola_

Workaholics Risk Dementia, Study Finds

Those who have lost their jobs can take solace in the fact that although working may put food on the table, it can also break your brain. A study has found that busy bees who labor more than 55 hours a week develop problems with reasoning, memory and vocabulary, and the problems get worse the more they work.

Posted on Feb 25, 2009 READ MORE


Obama
AP photo / Ron Edmonds

Obama Pushes to Sell an Effective Stimulus

He has his opponents in Congress, but President Barack Obama is stressing the need to settle the stimulus issue—and fast. On Monday, in his first major news conference since assuming office, Obama warned of economic troubles ahead and presented the stimulus package as a possible way out.

Posted on Feb 9, 2009 READ MORE


Job Loss
nytimes.com

U.S. Unemployment Hits 7.6 Percent

With little surprise but incredible effect, the U.S. unemployment rate rose to 7.6 percent in January, hitting its highest level since 1992. President Obama used the report to prod Congress to pass his economic stimulus package.

Posted on Feb 6, 2009 READ MORE


Marie Antoinette
Lie Louis Périn-Salbreux

Who Knew Bankers Were This Stupid?

Earth to Wall Street: It’s over, people. You had a terrific run, better than you deserved, but now you’d be wise to pay attention to those citizens outside, the ones with the pitchforks and the torches.

Posted on Feb 2, 2009 READ MORE


Soldiers
news.sky.com

Army Suicide Rate Highest in Decades

Adding to the solemn string of record-breaking statistics, new figures show that the suicide rate among U.S. Army members has hit its highest level in three decades. Last year, over 128 soldiers took their own lives, a telling sign of our military and political climate.

Posted on Jan 30, 2009 READ MORE


A Huge Opportunity for the Mom in Chief

What will happen if Michelle Obama makes the personal her political issue? What would a serious work-and-family policy look like?

Posted on Jan 14, 2009 READ MORE


Beware, Mr. Obama, of Tax-Cut Seduction

Much of the business-tax package Obama contemplates fails his own test of cutting business taxes “where it makes sense and is going to work.”

Posted on Jan 8, 2009 READ MORE


Textile Plant
msnbc.com

Factories Echo Recession Pangs

Following in the footsteps of 2008’s dismal economic news, global manufacturing has fallen to low levels unseen for decades. In the U.S., factory activity has dropped to a 28-year low, marking a slump that further adds to the bad economic trends as we enter 2009.

Posted on Jan 2, 2009 READ MORE


FDR Prolonged the Depression? Really?

If you’re like me, you sometimes find yourself speechless when confronted with abject insanity, such as conservatives’ newest talking point—the one designed to stop Congress from passing an economic stimulus package.

Posted on Jan 1, 2009 READ MORE


Say Hello to the Thrift Zeitgeist

Now, competitive consumption has been replaced by contagious anxiety. Buying hit the wall with the housing collapse, the stock market plunge, the credit card crunch and the surge in unemployment figures.

Posted on Dec 11, 2008 READ MORE



AP photo / Manuel Balce Ceneta

They Claim the Bailout Is Necessary, but Is It Constitutional?

Wall Street will not trouble its collective consciousness with worry over the Constitution. But this bailout bill is virtually unprecedented in its assumptions and its reach for unchecked power.

Posted on Sep 25, 2008 READ MORE


Paulson
AP photo / J. Scott Applewhite

A Fox to Protect the Henhouse?

Does it really matter which party is in charge when it comes to bailing out the Wall Street hustlers whose shenanigans have bankrupted so many ordinary folks? Not if the Democrats roll over and cede power to the former head of Goldman Sachs, the investment bank at the center of our economic meltdown.

Posted on Sep 23, 2008 READ MORE


No Time for a Minimalist

Barack Obama isn’t going to win any arguments about the economy if he keeps winking at the robber barons who helped wreck Wall Street.

Posted on Sep 18, 2008 READ MORE


McCain’s Political Games Can’t Compete With an Economic Meltdown

Americans don’t mind wealthy and even rapacious capitalists as long as they deliver the goods to everyone else. But when the big boys drag everyone else down, Americans rise up in righteous anger.

Posted on Sep 15, 2008 READ MORE


Krugman on Bank Collapse and ‘1931 Revisited’

Financial columnist Paul Krugman, trying to make sense of the Lehman Brothers debacle, warns that “the defenses set up to prevent a return of those bank runs, mainly deposit insurance and access to credit lines with the Federal Reserve, only protect the guys in the marble buildings, who aren’t at the heart of the current crisis. That creates the real possibility that 2008 could be 1931 revisited.”

Posted on Sep 15, 2008 READ MORE


Shock Therapy Buzzes On

Tens of thousands of the desperately depressed sign up every year in the U.S. to have electricity-induced grand mal seizures even though nobody has ever figured out why the treatment works or how severe the associated brain damage is. The good news: You no longer have to be awake, and muscle relaxants now keep your bones from breaking.

Posted on Aug 6, 2008 READ MORE



Flickr / PetroleumJelliffe

The Rich Get Richer

According to the most recent data from the IRS, the wealthiest 1 percent of Americans took home a greater share of the nation’s income in 2006 than in any year of the previous 19. It’s possibly the biggest income disparity Americans have seen since the Great Depression. The average tax rate of the super-rich was at its lowest level in at least 18 years.

Posted on Jul 27, 2008 READ MORE


Did Bush Put a Hit Out on Fannie, Freddy?

From madcap marketeer Jim Cramer to wired alt-blogger Scott Thill, there are more than a few braniacs who believe the Bush White House did not just watch the collapse of Fannie Mae and Freddy Mac but actually engineered it as yet another sortie in the long GOP war against the New Deal. Never fear, though, as The Onion has already written a satirical report on efforts to build a better bubble.

Posted on Jul 21, 2008 READ MORE


Be Careful What You Wish For

Never do I want to hear again from my conservative friends about how brilliant capitalists are, how much they deserve their seven-figure salaries, and how government should keep its hands off the private economy.

Posted on Mar 18, 2008 READ MORE


Special K
From erowid.org

Special-K, the Blues-Battler

Researchers have found that the club drug ketamine, an animal anesthetic, works wonders in treating depression in humans—and works in a completely different way than Prozac or Zoloft, opening up an entirely new approach in the treatment of the disease. (via Andrew Sullivan)

Posted on Sep 28, 2006 READ MORE


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