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Tag: Economy

Unemployment
Wikimedia Commons

The Job Market Takes a Snow Day

Bad weather put a damper on hiring in January as the U.S. economy added just 36,000 jobs. Still, the unemployment rate dropped to 9 percent from December’s 9.4 percent, but that may be because many job-seekers simply gave up looking.

Posted on Feb 4, 2011 READ MORE


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The Devils We Know

Bargains with the devil never end well. For decades, successive U.S. administrations have embraced autocratic, repressive regimes in the Arab world—and now, as we see in the bloody streets of Cairo, it’s time to pay the price.

Posted on Feb 4, 2011 READ MORE


Madoff pleads guilty
AP / Louis Lanzano

JPMorgan Chase Execs Doubted Madoff Before the Fall

It appears that some higher-ups at JPMorgan Chase were on to fraudster Bernie Madoff nearly two years before the catastrophic implosion of his Ponzi scheme, but said execs didn’t take this knowledge as reason enough to stop doing business with him.

Posted on Feb 3, 2011 READ MORE


Governor Laser Beam

The man once known as Governor Moonbeam sounded more like Governor Laser Beam when it came to addressing California’s fiscal crisis.

Posted on Feb 2, 2011 READ MORE



Giorgio Monteforti (CC-BY)

How to Be a Billionaire

All you have to do to be a billionaire is to have an idea. John A. Paulson had an idea, and in 2010 his idea made him $5 billion. (more)

Posted on Feb 1, 2011 READ MORE



Flickr / John D. Carnessiotis (CC-BY)

Don’t Blame Workers for the Crimes of the Wealthy

According to The New York Times, “What’s Broken in Greece” is that the cost of labor in Greece from 2005 to 2010 has been, on average, 25 percent higher than in Germany. (more)

Posted on Jan 31, 2011 READ MORE


window shoppers
flickr/specialkrb

Americans Are Spending Again

Is it good news that U.S. consumer spending revved up to a three-year high in 2010? It could make for some improvement, especially if employment picks up to bolster Americans’ consumption habits in coming months, according to the BBC.

Posted on Jan 31, 2011 READ MORE



AP / Mike Roemer

Who, Us Bloodthirsty?

In an age challenged by separating real life from reality programming or the absurdly heightened reality that comes from merely being on TV, no one seems to want to err on the side of compassion.

Posted on Jan 31, 2011 READ MORE


Warhol painting
AP / Sang Tan

GDP Logs a 3.2% Rise in 4th Quarter

Even though it fell short of economists’ expectations, a 3.2 percent rise in the GDP during the last quarter of 2010 has rekindled hopes that the U.S. economy may be moving toward sustainable recovery.

Posted on Jan 28, 2011 READ MORE


From Quality to Quantity—and Maybe Back Again

Amid last week’s flood of business news, one story stood out as reason to hope for more than just a momentary uptick in your 401(k): Apple, you may have heard, announced record first-quarter profits.

Posted on Jan 28, 2011 READ MORE


Govt’s Loan Mod Program Crippled by Lax Oversight and Deference to Banks

With millions of homeowners still struggling to stay in their homes, the Obama administration’s $75 billion foreclosure prevention program has been weakened, perhaps fatally, by lax oversight and a posture of cooperation—rather than enforcement—with the nation’s biggest banks.

Posted on Jan 27, 2011 READ MORE



Wikimedia Commons

Obama’s New Role Model: Ronald Reagan?

What could Ronald Reagan possibly have in common with Barack Obama, except, say, a certain demonstrable allegiance to Wall Street? Time’s Michael Scherer and Michael Duffy tease out some ways in which The Gipper’s legacy has informed ...

Posted on Jan 27, 2011 READ MORE



Center for American Progress (CC-BY-ND)

Financial Crisis Panel Names Names

Chairman Phil Angelides and the five other Democrats on the 10-person Financial Crisis Inquiry Commission have released their devastating report, which assigns blame for the economic meltdown. They pointed at Treasury Secretary Timothy Geithner (above), among others.

Posted on Jan 27, 2011 READ MORE



Flickr / Mike Licht (CC-BY)

Obfuscating Unemployment

During the Great Depression, high rates of unemployment prevailed for 11 years. The experience of seeing a free market system drive itself into a rut that it cannot pull itself out of is nothing new. And we have long known the solution.

Posted on Jan 27, 2011 READ MORE


Obama Changes the Narrative

Complaints about President Obama’s State of the Union address on both sides of the political divide (which was obscured but not obliterated by the evening’s novel seating arrangements) seemed to miss its point and purpose.

Posted on Jan 27, 2011 READ MORE



Flickr / fatalfuj (CC-BY-SA)

America’s Freshmen Are Really Stressed Out

Wedged between past years of standardized testing and fixating on applications and a future of paying off hefty loans with no guarantees of employment, first-year college students around the country are registering higher levels of stress and poorer ...

Posted on Jan 27, 2011 READ MORE


Barack Obama: Paradoxical Whig

Be ready for the paradoxical phase of Barack Obama’s presidency. Many things will not be exactly as they appear.

Posted on Jan 26, 2011 READ MORE



White House / Chuck Kennedy

Hogwash, Mr. President

What is the state of the union? You certainly couldn’t tell from that platitudinous hogwash that the president dished out.

Posted on Jan 26, 2011 READ MORE


Your Ticket to Davos

The annual meeting of the World Economic Forum, where big shots go to talk turkey and soak up a bit of Switzerland, is being streamed live across the Internet tubes. They’re waiting for you after the jump, prime minister.

Posted on Jan 25, 2011 WATCH & LISTEN



AP / Christophe Ena

Restive Egypt Looks Over Its Shoulder

The uprising that sacked Tunisia’s government is continuing to echo through the region, with Egypt, especially, looking over its shoulder and fearing instability that could scare off foreign investors.

Posted on Jan 23, 2011 READ MORE


Left, Right & Center

‘Left, Right & Center’: Obama’s All Business

The first order of business for the 112th Congress was its vote to repeal the health care law—is that good policy? Also, President Obama courts the business community and welcomes his Chinese counterpart—and the “Left, Right & Center” ...

Posted on Jan 21, 2011 WATCH & LISTEN



Wikimedia Commons / Office of Management and Budget

Orszag Sees Turbulent Times Ahead

So, the former head honcho of Obama’s Office of Management and Budget, Peter Orszag, is now sitting in a very plush position over at Citigroup, from where he gave his latest economic prognostications in Thursday’s Financial Times ...

Posted on Jan 21, 2011 READ MORE


Is America Too Corrupt to Keep Up?

As “Buy China” policies now economically supercharge the world’s most populous nation, the White House and congressional Republicans have opposed many of the very “Buy America” proposals that might help us keep up—and that obstruction has come at a steep price.

Posted on Jan 21, 2011 READ MORE



AP via Los Angeles Times

Obama and Hu Play Up the Positive

This week’s challenge for President Obama: diplomacy in the face of possible adversity, on both the domestic and international fronts. As the House of Representatives was considering a repeal of his hard-won health care reform law on Wednesday ...

Posted on Jan 19, 2011 READ MORE



From the website of Atlantis Resources

The Global Rush for Green Jobs

This line from a BBC article about a $150 million tidal power project that will be partially built and deployed in India speaks to the highly competitive global market for the jobs of the future: “As much of the manufacturing as possible will take place in Gujarat, taking advantage of the skills base in India’s booming wind turbine industry.”

Posted on Jan 19, 2011 READ MORE



AP / Charles Dharapak

Obama Pulls a Clinton

Here we go again. When Bill Clinton suffered an electoral reversal after his first two years in office, he abruptly embraced the corporate money guys who had financed his congressional opposition in an effort to purchase a second term.

Posted on Jan 19, 2011 READ MORE



Flickr / Thomas Anderson (CC-BY)

Chinese Workers Are Not the Enemy

American workers need jobs and access to the Chinese market, and Chinese workers need jobs and technology. Volvo provides a model of how we can make both sides happy. (more)

Posted on Jan 19, 2011 READ MORE


My Dream









Posted on Jan 17, 2011 ENLARGE    


Finding the Forgotten Majority

The new media economy encourages ever more violent vitriol because that’s now become the most reliable way to build a following and, thus, generate profit.

Posted on Jan 14, 2011 READ MORE



AP / Koji Sasahara

Celebrity Endorsements: Money for Nothing?

In the world of advertising, celebrity always equals money, and anything that these luminaries—whether from entertainment, sports or even politics—touch (even by accident) is tantamount to tangible, profitable product placement, right?

Posted on Jan 13, 2011 READ MORE



AP / Fareed Khan

WikiLeaks Exposes the Danger of Pakistan’s Nukes

There are few scenarios more frightening for America than a domestic nuclear terrorist attack. We now know that U.S. policy is actually increasing the danger of a nuclear incident.

Posted on Jan 13, 2011 READ MORE



AP / Carolyn Kaster

Perps in the White House

While it is widely recognized that the banking meltdown has left enormous economic pain and political upheaval in its wake, it is amazing that the folks who created this mess are rewarded with ever more important positions in our government.

Posted on Jan 12, 2011 READ MORE



AP / Hassene Dridi

Tunisian Protests Turn Deadly

Protests over unemployment have led to the deaths of eight people in Tunisia. The government said police opened fire in self-defense after rioters took to destroying public buildings in the northwestern towns of Thala and Kasserine.

Posted on Jan 9, 2011 READ MORE


Sri Lankan Tamil refugees
AP / Eranga Jayawardena

Sri Lanka’s Produce Army

Watch out Whole Foods. The Sri Lankan army, having triumphed in its long fight against the rebel Tamil Tigers, has now turned to selling vegetables to the country’s poor at reduced prices to help them through hard times.

Posted on Jan 7, 2011 READ MORE



AP

Riots Rock Algeria Over Prices, Jobs

Protests erupted in the Algerian capital of Algiers and several other cities this week as people took to the streets over a doubling of food prices and a stubborn 25 percent unemployment rate.

Posted on Jan 7, 2011 READ MORE


unemployment office
Flickr / clementine gallot

Jobless Rate Drops as People Give Up Looking

Bad news on the U.S. job front: While the country’s unemployment rate took its biggest drop since April 1998, the decrease was due not so much to a recovering economy, but to the fact that 260,000 people have given up looking for work.

Posted on Jan 7, 2011 READ MORE


The GOP Is Holding the Economy Hostage, and It’s Time to Call Its Bluff

In their ideological zeal, the new Republicans on Capitol Hill seem eager to gamble everything—even the chance of a worldwide depression—on a showdown over the national debt ceiling.

Posted on Jan 6, 2011 READ MORE


These Public Employees Are Not Overpaid

While Wall Streeters continue to rake it in, there’s a movement afoot to redirect the public’s rage against the humble public employee. These hardworking folks don’t look like the greedy opportunists they’ve been smeared as.

Posted on Jan 6, 2011 WATCH & LISTEN



YouTube

Daley Tapped to Be Obama’s Chief of Staff

For his next act, President Obama has made a replacement for former Chief of Staff Rahm Emanuel appear, and it’s none other than William Daley, another member of Chicago’s Daley political dynasty—and one with close ties to Wall Street.

Posted on Jan 6, 2011 READ MORE


Economic Suicide

Is it a case of murder, or has the Western economy deliberately, if unwittingly, attempted suicide and nearly succeeded?

Posted on Jan 5, 2011 READ MORE



Flickr / TheTruthAbout (CC-BY)

Gag Me With a Banker

Having learned nothing from his midterm drubbing, President Obama is reportedly considering making JPMorgan Chase executive William Daley his chief of staff. Because what this administration needs is more sympathy for the hooligans on Wall Street.

Posted on Jan 4, 2011 READ MORE


Welcome Home









Posted on Jan 3, 2011 ENLARGE



AP / Karel Navarro

Obama Resolves to Fix the Economy

In his weekly radio address Saturday, President Obama committed himself in 2011 to improving the economy, creating jobs and strengthening the middle class. Here’s to a New Year’s resolution that hopefully won’t be broken.

Posted on Jan 1, 2011 READ MORE


Help 2011









Posted on Dec 31, 2010 ENLARGE    



White House / Pete Souza

Obama’s Two-Year Economic Report Card

There are two potential ways to measure the economic performance of a political leader. One is by the profitability, stock prices and executive bonuses of a nation’s corporations. The other is by the financial condition of the majority of its population.

Posted on Dec 31, 2010 READ MORE


Will Liberals Learn From Adversity?

Was 2010 American liberalism’s Waterloo? If there is one thing the Obama White House most underestimates, it is the dispirited mood of its troops.

Posted on Dec 30, 2010 READ MORE



AP / J Pat Carter

Home Prices Plunge With No Bounce in Sight

October wasn’t a good month for sales of single-family homes in the U.S.—in fact, it was pretty dismal—and you know it’s bad when number-crunching economist types say there’s nothing good to say about not only the current moment but the foreseeable future as well.

Posted on Dec 28, 2010 READ MORE


The Game-Changer List

This year was a game-changer, and what we need is a game-changer list. On that kind of list, I would drop one-off sensations, beginning with the oil spill, the Haitian earthquake and the mine rescue. No. 1 would be WikiLeaks.

Posted on Dec 27, 2010 READ MORE



Flickr / kevindooley (CC-BY)

Banking Regulation Team Pitches New Payment Rules

An international panel of banking regulators from 27 nations is aiming to crack down on outlandish pay packages for industry executives by proposing a new set of rules that call for more transparency and, wonder of wonders, some correlation between ...

Posted on Dec 27, 2010 READ MORE


Goldman’s Massive Bonuses ‘Totally Deserved,’ Says Satan

The gargantuan year-end bonuses paid out to Goldman Sachs executives have received howls of protests from the banking giant’s legion of critics, but not from its most ardent defender: Satan.

Posted on Dec 26, 2010 READ MORE


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