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Tag: Economy

AP / Reed Saxon

The War of the McCourts

The story of Frank and Jamie McCourt, who turned the Dodgers into their own piggy bank, lived a life of mortgaged royalty and then decided to destroy one another, is like something out of Tom Wolfe.

Posted on Sep 27, 2010 READ MORE

And Now, a Giggly Swiss Minister’s Take on Cured Meats (Update: Explained)

Here we see the now-viral footage of Swiss finance minister Hans-Rudolf Merz, 67, who is on the brink of retirement and quite able to appreciate the lighter side of some of his bureaucratic duties, such as discussing the apparently amusing matter of cured meat imports.

Posted on Sep 27, 2010 READ MORE

AP / Henny Ray Abrams

U.S. Stocks Dip After Stronger September

The good news is that the U.S. stock market has enjoyed its “strongest September in 71 years” thus far this month, according to The Wall Street Journal. The bad news is that September ain’t over yet, and that hopeful trend didn’t quite last through Monday.

Posted on Sep 27, 2010 READ MORE

20th Century Fox

Wall Street Revisited: Greed Is Good and Dull

The inherent problem with Oliver Stone’s follow-up to his 1987 classic is that it does not have the courage of its own nastiest convictions.

Posted on Sep 24, 2010 READ MORE

The Party of Nonsense

The Republicans were doing pretty well for themselves as the Party of No. So why did they decide to rebrand themselves as the Party of Nonsense?

Posted on Sep 23, 2010 READ MORE

Flickr / Michael Mulvey (CC-BY)

Democrats Celebrate Small Business Victory

After much fuss, congressional Democrats managed to push through a modest jobs bill that will have to do in the place of anything grander with which to campaign. The package of tax breaks and cash is directed toward small businesses, with the hope of creating employment.

Posted on Sep 23, 2010 READ MORE

AP / Oded Balilty

The China Superpower Hoax

How is a country with a lower per capita income than Kazakhstan, one of the worst environmental records of any major nation and a dictatorship, besides, hailed by so many as the next global superpower?

Posted on Sep 23, 2010 READ MORE

Robert Scheer and Amy Goodman Give Larry Summers a Proper Send-Off

So, clearly President Obama felt obliged to get all gushy about outgoing adviser Larry Summers’ contributions to his administration’s efforts to save our nation’s economy from total catastrophe. Now hear the real deal on Summers, courtesy of Robert Scheer and Amy Goodman on “Democracy Now!”

Posted on Sep 22, 2010 READ MORE


Posted on Sep 22, 2010 READ MORE

Tough Love for Obama

The Wal-Mart moms were pessimistic, bordering on despondent, about the state of the country, but they were also surprisingly understanding about the president’s plight.

Posted on Sep 22, 2010 READ MORE

AP / Susan Walsh

So Long, Summers

Finally! The announced departure of Lawrence Summers as the president’s top economic adviser is welcome news. Harvard’s loss in taking back its $586,996-a-year professor and “president emeritus,” who is also paid millions by Wall Street on the side, is the nation’s gain.

Posted on Sep 21, 2010 READ MORE

AP / Susan Walsh

Summers Leaving White House Post-Midterms

President Barack Obama is reportedly going to lose another member of his economic advisory team, and a big one at that, after the midterm elections this fall. The Bloomberg news service brought word Tuesday that Larry Summers plans to leave the White House before the end of 2010. Updated

Posted on Sep 21, 2010 READ MORE

Waiter, There’s Porn in My Slideshow

Why you should always do a test run before a presentation, what America’s war dead say about the class divide, and how air travel in coach could get a whole lot worse.

Posted on Sep 21, 2010 READ MORE

Flickr / Pablo Alvarado (CC-BY)

The Longest Recession Since WWII

According to the National Bureau of Economic Research, the recession ended in June 2009 after 18 months—the longest downturn since World War II. That doesn’t mean we’re out of the woods. Reduced expectations for U.S. economic growth and fears that high unemployment could last longer than previously thought presage more pain to come.

Posted on Sep 20, 2010 READ MORE

AP / Javier Galeano

The Forever Fidel Obsession

After three hours of conversation, it is clear that Fidel Castro has definitely retired and now spends his time underlining President Obama’s books and reflecting on decades of revolution. Anyone who thinks Cuba is going capitalist, however, should check more carefully with the facts.

Posted on Sep 19, 2010 READ MORE

Flickr / Misserion (CC-BY)

One of Seven Americans Lives in Poverty

One out of every seven Americans lived through 2009 in poverty, according to the Census Bureau. Working Americans haven’t been this poor in 50 years. The poverty line—$21,954 or less annual income for a family of four—is quite low and the number of Americans struggling to get by is much higher still.

Posted on Sep 17, 2010 READ MORE

‘The Great American Stickup’: Blame Clinton More Than Bush for the Economy

Since the collapse happened on the watch of President George W. Bush at the end of two full terms in office, many in the Democratic Party were only too eager to blame his administration.

Posted on Sep 16, 2010 READ MORE

Doing the Elizabeth Warren Shuffle

Opinions are divided over the news that Elizabeth Warren, progressives’ pick to head the new consumer protection agency, will be appointed to get said agency off the ground but (in all likelihood) not be its first director.

Posted on Sep 16, 2010 READ MORE

Wikimedia Commons / Scrumshus

Small Business Bill Gets Senate’s Stamp of Approval

After a long struggle, partly caused by pre-midterm-election power jostling in Congress, the Senate passed a bill designed to give small businesses a leg up in a 61-38 vote on Thursday. The House is also expected to approve the bill, which some GOP types ... (continued)

Posted on Sep 16, 2010 READ MORE

AP / Charles Dharapak

After Summers Comes the Fall

When will the president give Lawrence Summers his pink slip? He can thank him for his years of service and use the excuse that his top economic adviser wants to spend more time with his family. I don’t care how he sugarcoats it.

Posted on Sep 14, 2010 READ MORE

A Myth About Job Creation

It is taken as gospel among politicians of both parties that small business is the engine of job creation. Obama, McCain, Bush, Kerry, Clinton and Reagan have made that claim. Only one problem: The assertions are overblown and simplistic.

Posted on Sep 14, 2010 READ MORE

Naomi Klein: Building an Independent Left

The “Shock Doctrine” author tells Laura Flanders, “We have to build that independent left. It has to be so strong and so radical and so militant and so powerful that it becomes irresistible.”

Posted on Sep 14, 2010 READ MORE

‘The Great American Stickup’: How Wall Street Occupied Washington

The big cop-out in much of what has been written about the banking meltdown has been the argument by those most complicit that there was “enough blame to go around” and that no institution or individual should be singled out for accountability. “How could we have known?” is the refrain of those who continue to pose as all-knowing experts.

Posted on Sep 14, 2010 READ MORE

Money Talks

Posted on Sep 13, 2010 READ MORE    

Axelrod on ‘Politically Toxic’ Health Care Reform

The president’s political guru defends health care reform, which appears to be the redheaded stepchild of American politics, and Obama’s handling of the economy.

Posted on Sep 13, 2010 READ MORE

Flickr / Les Haines (CC-BY)

Cuba to Fire 500,000 Workers

Most Cubans rely on their government for just about everything, including a job, but President Raul Castro intends to change that. Cuban officials announced Monday that roughly 10 percent of the state-employed work force is getting a pink slip.

Posted on Sep 13, 2010 READ MORE

AP / Elise Amendola

Do Not Pity the Democrats

Do not fear Glenn Beck or Sarah Palin. Fear the underlying corporate power structure, which no one, from Barack Obama to the right-wing nut cases who pollute the airwaves, can alter.

Posted on Sep 12, 2010 READ MORE

Left, Right & Center

‘Left, Right & Center’: Obama Flops?; Saving the Middle Class

Did Obama have anything to offer in the way of, say, hope during his latest news conference on the economy? Will Elizabeth Warren’s likely appointment to head up Obama’s Bureau of Consumer Financial Protection represent a much-needed boost for the struggling middle class?

Posted on Sep 10, 2010 READ MORE

‘You Shall Not Pass’ (Quickly Into Economic Recovery)

Using the same terminology one might employ to describe the plot of “The Lord of the Rings,” President Obama has agreed that the country’s economic recovery has been “painfully slow” and has indicated he understands the vitriol aimed toward Democrats as the 2010 midterm elections approach.

Posted on Sep 10, 2010 READ MORE

The Neoliberal Bait and Switch

Thirty years into the neoliberal experiment, the Great Recession is exposing the flaws of the Washington Consensus.

Posted on Sep 9, 2010 READ MORE

White House / Pete Souza

Why Barack Is Behind

Among the very puzzling aspects of the midterm election—and the Democratic debacle that appears to be looming in November—is why voters would return the opposition to power only two years after the multiple disasters of the Bush administration.

Posted on Sep 9, 2010 READ MORE

Getting to Know Our Celebrity President

Mississippi Gov. Haley Barbour just said we know less about Barack Obama “than any other president in history.” Maybe he should read one of Obama’s autobiographies.

Posted on Sep 8, 2010 READ MORE

White House / Pete Souza

It’s Not Over Till It’s Over

President Obama decided this week to raise the stakes in this fall’s election by making the choice about something instead of nothing but anger.

Posted on Sep 8, 2010 READ MORE

AP / J Pat Carter

It’s the Mortgages, Stupid

This week’s proposals by the Obama administration to deal with the persistent economic crisis will be, as with previous plans that involved trillions of taxpayer dollars, little more than salt in the wounds.

Posted on Sep 7, 2010 READ MORE

GOP Pushes for Midterm Victory

It may be historically hard to hang on to a majority in both the House and Senate, but of course the dominant Democrats in Congress are hoping for a midterm miracle in November.

Posted on Sep 7, 2010 READ MORE

White House / Chuck Kennedy

Builder Barack Wants a Mini Stimulus (Update)

With unemployment still rising and the American infrastructure getting no less crumbly, President Obama is set to announce a six-year plan to build roads and create jobs, starting with a $50 billion investment. That’s assuming Congress gets on board the recovery train.

Posted on Sep 6, 2010 READ MORE

Missing ‘Big Labor’

Remembering the labor movement’s heroic battles is bittersweet on a Labor Day when so many Americans are unemployed, when wages are stagnant or dropping, and when the labor movement itself is in stark decline.

Posted on Sep 5, 2010 READ MORE

AP / Nastasya Tay

Six Dead in Mozambique Bread Riots

Soaring bread prices have sparked riots around Mozambique’s capital city of Maputo, but worse still is the fact that police killed at least six people and used live ammunition because—wait for it—they “ran out of rubber bullets.”

Posted on Sep 3, 2010 READ MORE

AP / Mark Lennihan

Waking Up in the 1930s

In the year 2010, America once again embraced the bread line, and the neatly dressed, solidly middle class, once working folk who queue up are just becoming reconciled to a stark new reality.

Posted on Sep 2, 2010 READ MORE

Our Quick-Fix Electorate

Voters appear to be so fed up with the Democrats that they’re ready to toss them out in favor of the Republicans—for whom, according to those same polls, the nation has even greater contempt.

Posted on Sep 2, 2010 READ MORE

Shed This Word, Now

Indulge me, please, while I rant about my new least favorite word: shed. Not as in dog hair. As in jobs. As in, “The economy shed (fill in the blank) jobs last month.”

Posted on Sep 2, 2010 READ MORE

Chris Hedges on Moral Courage

The Truthdig columnist begins this speech to the Veterans for Peace convention by saying, “Physical courage is something you see on a battlefield. Moral courage you almost never see.”

Posted on Sep 1, 2010 READ MORE

Guess Who’s Coming to the Table?

There is no serious reason to consider direct negotiations between Israel and the Palestinian Authority anything other than a political pantomime, although believers—if such remain—may pray for a miracle.

Posted on Sep 1, 2010 READ MORE

White House

Obama: ‘Operation Iraqi Freedom Is Over’ (Full Video and Text)

The president began his address to the nation on the end of combat operations in Iraq by acknowledging that “this historic moment comes at a time of great uncertainty for many Americans.”

Posted on Aug 31, 2010 READ MORE

Chuck Kennedy / White House

Obama, GOP Trade Punches Over Business Bill

So, President Obama was miffed on Monday at the GOP side of the Senate for thwarting his move to push a bill through Congress designed to help small businesses, but those senators weren’t having it and fired back at Obama and his party with a pointed statement.

Posted on Aug 30, 2010 READ MORE

Wikimedia Commons/April Sikorski

This Side of Democracy

As it is an election year amidst the Great Recession, talk of the American plutocracy is very much in vogue. But to label the situation as unique belies centuries of history.

Posted on Aug 30, 2010 READ MORE

White House / Pete Souza

Obama and the Virtues of ‘Politicking’

President Obama’s address to the nation on Iraq this week underscores the agony of his presidency, and its core political problem. In a democracy, separating governing from “politicking” is impossible.

Posted on Aug 29, 2010 READ MORE

AP / Reed Saxon

Bernanke Makes Mildly Encouraging Noises About Economy

Is the recession over? Will there be another? Much like the famous groundhog from Punxsutawney, Federal Reserve chief Ben Bernanke showed up to offer an eagerly awaited sign—in this case to economists gathered Friday at Jackson Hole, Wyo., and to the world at large ... (continued)

Posted on Aug 27, 2010 READ MORE

Beck’s 15 Minutes of Fame

No puffed-up huckster like Glenn Beck could ever diminish the importance of the 1963 March on Washington or the impact of King’s unforgettable words. 

Posted on Aug 27, 2010 READ MORE

Rotten Eggs and Our Broken Democracy

The massive recall of salmonella-infected eggs, the largest egg recall in U.S. history, opens a window on the power of large corporations over not only our health, but over our government.

Posted on Aug 25, 2010 READ MORE

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