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Tag: Economy


Rick Rowley / Big Noise Films

In Memory of All That Is Lost

The anger is palpable across the Mississippi Delta. As the Deepwater Horizon oil geyser, almost a mile underwater, continues unabated, the brunt of this, the largest environmental catastrophe in United States history, is rolling onto the coast, impacting the ecology, the economy and entire ways of life.

Posted on Jun 2, 2010 READ MORE



Flickr / Kai Henry (CC-BY)

You Need a Raise

The theories on which we base wages are highly flawed—and so is your paycheck.

Posted on May 31, 2010 READ MORE



AP / Elizabeth Dalziel

This Country Needs a Few Good Communists

Hope in this age of bankrupt capitalism will come with the return of the language of class conflict. It does not mean we have to agree with Karl Marx, but we have to speak in his vocabulary.

Posted on May 31, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: The Big Spill, Sestak and Spain

This week’s “Left, Right & Center” features a cameo appearance from David Frum, who fills in for the show’s Mr. Right, Tony Blankley, to take on the week’s big topics: the BP oil spill, Joe Sestak, Spain and the global economy. 

Posted on May 28, 2010 READ MORE


Afghanistan
Flickr / U.S. Army

America’s Forgotten War

Perhaps President Barack Obama should be thankful for the bad news—the oil spill, intractable unemployment and the rest—for it has definitely diverted attention from his biggest disaster: the Afghanistan war.

Posted on May 28, 2010 READ MORE


The Michael Jordan of Bailouts

Someone is going to bear the massive cost of damage to the Gulf Coast economy, and Senate Minority Leader Mitch McConnell is out to make sure it isn’t the oil firms whose rig caused the catastrophe in the first place.

Posted on May 27, 2010 READ MORE



Live Chat: Robert Scheer on Rand Paul and Social Justice

On Thursday Robert Scheer responded to reader questions and comments about his column “Blame Clinton, Not Paul.” Scheer said, “both Democrats and Republicans have betrayed the interests of black and brown people and those who got stuck with subprime mortgages, and that’s the pressing civil rights issue right now.”

Posted on May 27, 2010 READ MORE


Obama
White House / Pete Souza

Obama Rewrites America’s Nat’l Security Strategy

The first-strike mentality of the Bush years, along with the attendant unilateral military exploits, has fallen from favor in President Barack Obama’s revised national security scheme for the U.S.—or so goes the spin on that plan.

Posted on May 27, 2010 READ MORE


What Rand Really Believes

Rand Paul, tea party flavor of the month, is said to be avoiding “overexposure.” When he emerges from hiding and explains his most extreme positions, even many Republicans may think twice or three times before they vote for him.

Posted on May 27, 2010 READ MORE



Apple Passes Microsoft to Become the World’s Biggest Tech Company

Apple fan-boys and -girls, rejoice. The iCorporation is now worth more than the dreaded Microsoft. But don’t get too excited: Bill Gates’ gang has a few ideas to get back in the game, and some bloggers claim that Google, whose Android is outselling the iPhone, “has leapfrogged” Apple in terms of innovation. (continued)

Posted on May 26, 2010 READ MORE



U.S. Coast Guard / CPO John Kepsimelis

EPA Weighs Sanctions Against BP

Officials at the Environmental Protection Agency are considering whether to bar BP from receiving government contracts, a move that would ultimately cost the company billions in revenue and could end its drilling in federally controlled oil fields.

Posted on May 25, 2010 READ MORE



Rep. Alan Grayson Introduces the ‘War Is Making You Poor Act’

The bill would cut the DoD’s budget and use that money to make the first $35,000 each American earns tax-free.

Posted on May 24, 2010 READ MORE



AP / Petros Giannakouris

The Greeks Get It

Here’s to the Greeks. They know what to do when corporations pillage and loot their country. Call a general strike. Riot. Shut down the city centers. Toss the bastards out.

Posted on May 24, 2010 READ MORE


Balls and Chains

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Posted on May 23, 2010 READ MORE    


Financial Reform Won’t Alter Capitalism’s Icarus Trajectory

Perhaps the most troubling reality in the 21st century is that our economics now dictates our cultural values, rather than the reverse, where we the people would decide how resources, production and mutual prosperity should be systematized to achieve the best society for all.

Posted on May 21, 2010 READ MORE



Flickr / epicharmus (CC-BY)

Making Sense of the Financial Reform Bill

The Senate passed on Thursday what The Wall Street Journal described as “the most extensive overhaul of financial-sector regulation since the 1930s.” The New York Times breaks down what’s in the bill and how it might change when reconciled with the House version. Worth noting: Democrats Russ Feingold and Maria Cantwell voted against the measure.

Posted on May 21, 2010 READ MORE



Live Chat: Robert Scheer on Rand Paul

Why is a lefty excited by the thought of a Kentucky libertarian in Congress? Robert Scheer responds to reader questions and comments about his latest column.

Posted on May 20, 2010 READ MORE


Oil Rules

The more we learn about the BP oil well blowout in the Gulf of Mexico, the more we ought to question the basic assumptions that led us here.

Posted on May 19, 2010 READ MORE


Recovery

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Posted on May 19, 2010 READ MORE


pink slip sign
Flickr / aflcio

Where’s the Recovery?

As President Barack Obama, speaking last week in Buffalo, N.Y., was assuring the country that “our economy is growing again,” the usual large number of unemployed lined up at a community aid center in Los Angeles for food, clothing, advice and help finding a job.

Posted on May 17, 2010 READ MORE



AP / Amy Sancetta

Happy Days Aren’t Here Again

Don’t be fooled by newspaper reports claiming that higher unemployment is somehow good news—it isn’t.

Posted on May 17, 2010 READ MORE



Flickr / JMRosenfeld (CC-BY)

Whites Are 5 Times Richer Than Blacks, Study Finds

A study out of Brandeis University has determined that white Americans have roughly five times the wealth of black Americans of similar class, owing largely to greater economic opportunity. The results are worse than expected and suggest that America is backsliding in an important indicator of racial equality.

Posted on May 17, 2010 READ MORE


European Central Bank
Flickr / U-g-g-B-o-y-(-Photograph-World-Sense-)

How Low Can the Euro Go?

The answer to the headline question, at least on Monday, would be $1.2234, as the euro dropped to its lowest point in four years. As this CNN report puts it in somewhat startling terms, ” ... Ongoing debt concerns prompted a flight to the safety of the U.S. dollar.”

Posted on May 17, 2010 READ MORE



U.S. Navy / MC2 Justin Stumberg

BP and the ‘Little Eichmanns’

These deformed individuals carrying out the global genocide against human life and the natural world lack the capacity for empathy. They possess the peculiar ability to organize vast, destructive bureaucracies and yet remain blind to the ramifications.

Posted on May 16, 2010 READ MORE


Bill Maher: Put Apple in Charge

The “Real Time” host says America is stuck in the mud and desperately needs a trip to the Genius Bar.

Posted on May 16, 2010 READ MORE


Euro’s Crisis Has American Fingerprints

Self-admittedly profligate Greece did not invent the world crisis, nor did Portugal, Spain or Italy. The guilt lies with the United States.

Posted on May 11, 2010 READ MORE


AIG sign

Senate Gives the Go-Ahead for Fed Lending Probe

When big financial institutions got themselves into a serious pickle in the fall of 2008, the Federal Reserve was there with beaucoup bucks in loans to prop them up. On Tuesday, the Senate voted unanimously to launch an inquiry into the Fed’s lending practices during the financial crisis.

Posted on May 11, 2010 READ MORE


Capping the Damage

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Posted on May 9, 2010 READ MORE


Greece Offers to Repay Loans with Giant Horse

Finance ministers from 16 EU nations awoke in Brussels this morning to find that a huge wooden horse had been wheeled into the city center overnight.

Posted on May 9, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: Econo-Anxiety; UK Votes; N.Y. Bomber

Portugal, Italy, Greece and Spain (or PIGS, as the likes of Stephen Colbert have pointed out) have seen better days—debt is overpowering the eurozone and impacting the U.S. as well. The UK election: Will it be a hung parliament? Plus: Newsweek’s for sale. Any takers?

Posted on May 7, 2010 READ MORE


bookcover

Fred Branfman on ‘The Big Short’

Author Michael Lewis in his best-selling book takes us inside capitalism’s “doomsday machine,” and it’s your worst nightmare come true.

Posted on May 6, 2010 READ MORE


White Out

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Posted on May 6, 2010 READ MORE    



finance.google.com

Dow Forgets We’re Recovering, Drops 1,000 Points

Fears that this might be a jobless recovery turned into fears that this might not be a recovery at all on Thursday as the Dow dropped about 1,000 points. It quickly rallied, leaving the loss at the world’s biggest casino at 347.80. (continued)

Posted on May 6, 2010 READ MORE


Will We Keep Hating the Government?

Ever heard the one about the guy who hated government until a deregulated Wall Street crashed, an oil spill devastated the Gulf of Mexico, a coal mine collapsed, and some good police work stopped a terrorist attack?

Posted on May 6, 2010 READ MORE



Flickr / david.nikonvscanon (CC-BY)

The Crime of Our Time

Danny Schechter’s new movie, “Plunder: The Crime of Our Time,” tells the story of the economic collapse as “a crime narrative as opposed to a mistakes narrative.”

Posted on May 5, 2010 READ MORE



Flickr / david.nikonvscanon (CC-BY)

The Crime of Our Time

Danny Schechter’s new movie, “Plunder: The Crime of Our Time,” tells the story of the economic collapse as “a crime narrative as opposed to a mistakes narrative.”

Posted on May 5, 2010 READ MORE


Border-First Hallucinations

The notion that the first thing to do is “secure the border” between the United States and Mexico—and only then worry about comprehensive immigration reform—falls somewhere between hopeful fantasy and cynical cop-out.

Posted on May 4, 2010 READ MORE



U.S. Air Force / Airman 1st Class Eboni Knox

No One Cares

We are approaching a decade of war in Afghanistan, and the war in Iraq is in its eighth year. The peace movement, despite the heroic efforts of a handful of groups, is dead.

Posted on May 3, 2010 READ MORE


And Nothing But the Truth

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Posted on May 2, 2010 READ MORE


Somali Pirates Say They Are Subsidiary of Goldman Sachs

The pirate leader acknowledged that they merged their operations with Goldman in late 2008 to take advantage of the more relaxed regulations governing bankers as opposed to pirates, “plus to get our share of the bailout money.”

Posted on May 2, 2010 READ MORE



Flickr / International Monetary Fund

Profiting From Peace

Who would have thought that peace could be good for the economy? Ask Stanley Fischer, Israel’s central bank chief, who delivered that startling pronouncement in a speech this weekend, arguing that a peace deal between his country and the Palestinians would actually help Israel achieve “one of the most advanced economies in the world.”

Posted on May 2, 2010 READ MORE



AP / Bob Bird

Pitting Worker Against Worker

In this May Day special feature, economist Moshe Adler argues that the answer to our immigration, labor and broader economic problems is more immigration and more welfare for all.

Posted on Apr 30, 2010 READ MORE



Live Chat: Robert Scheer on the Goldman Hearings

Will the Goldman Sachs hearings really accomplish anything? Are the Democrats just showboating? What are the prospects for real financial reform? Robert Scheer answers these reader questions and more.

Posted on Apr 29, 2010 READ MORE


How Wall Street Creates Socialists

No leftist polemicist could come up with as damning a description of contemporary capitalism as the contents of an e-mail that Goldman’s Fabrice “Fabulous Fab” Tourre sent to his girlfriend.

Posted on Apr 28, 2010 READ MORE


It Takes Power to Control Power

Discredited as the financial powers are, their wealth alone continues to provide them with wildly disproportionate influence over the political process.

Posted on Apr 28, 2010 READ MORE


The Fiddler

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Posted on Apr 28, 2010 READ MORE


The Republican to See Suddenly Won’t Deal

It isn’t easy being a caucus of one. Sometimes you don’t even agree with yourself. Just ask Sen. Lindsey Graham, the Democrats’ go-to Republican.

Posted on Apr 28, 2010 READ MORE



The New Secessionists

The difference between the tea party and the secessionist movement bubbling up in some two dozen states is that the tea party believes America can be fixed.

Posted on Apr 26, 2010 READ MORE


Party Crasher

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Posted on Apr 25, 2010 READ MORE


Goldman CEO to Perform Community Service as Treasury Secretary

A Treasury Department spokesperson said that by performing community service as treasury secretary, Lloyd Blankfein will do less harm to the economy because he will have significantly less power than he had as chairman of Goldman.

Posted on Apr 25, 2010 READ MORE


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