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Tag: Economy

The Bay State Lesson

Democrats should be worried about the trouble in Tuesday’s Massachusetts Senate race that forced President Obama to Boston on Sunday for a last-minute campaign rescue mission.

Posted on Jan 19, 2010 READ MORE


MLK and Malcolm X
AP / Henry Griffin

Turning King’s Dream Into a Nightmare

Martin Luther King Day has become a yearly ritual to turn a black radical into a red-white-and-blue icon. It has become a day to celebrate ourselves for “overcoming” racism and “fulfilling” King’s dream. It is a day filled with old sound bites about little black children and little white children that, given the state of America, would enrage King.

Posted on Jan 17, 2010 READ MORE


Bull Mechanics

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Posted on Jan 14, 2010 READ MORE    


Sweat Time for Hill Democrats

It’s not time for presidential panic, but lawmakers up for re-election could be in a different boat if Obama’s ratings stay in this slump.

Posted on Jan 14, 2010 READ MORE



White House / Pete Souza

The End of Wall Street Liberalism

If you held a contest to pick the worst thing a politician could be called at this moment, my nominee would be Wall Street Liberal—which is why President Obama’s new fees on the biggest banks comes just in time.

Posted on Jan 13, 2010 READ MORE


banking protest
AP / Mark Lennihan

Reich Urges Obama to ‘Take On Wall Street’

He’s not the only one saying this, but considering his background, Robert Reich is a pretty significant voice pointing out how, over a year since things went seriously south on Wall Street, “almost nothing has been done to prevent all hell from breaking loose again.”

Posted on Jan 13, 2010 READ MORE


Early Review of the Angelides Commission: All Puff, No Punch

Martin Berg from Where’s Our Money writes: “The bankers, beleaguered as they may like to appear, have little to fear if the questioning continues as it began. So far, this is no Pecora Commission, the Depression-era investigation into the cause of the financial crash that led to landmark reforms. ...”

Posted on Jan 13, 2010 READ MORE


U.S.-China trade toast
AP / Eugene Hoshiko

Don’t Blame China

The Chinamen did it. In the great American tradition of finding foreign scapegoats for our problems, the hunt is on to somehow hold China responsible for the misery that Wall Street financiers inflicted upon the world.

Posted on Jan 12, 2010 READ MORE


First Infidels

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Posted on Jan 11, 2010 READ MORE    



Flickr / jphilipg

White House Juices the Job Count

The White House will now count all jobs funded by stimulus money, not just those that were created or saved. The job market is still hemorrhaging and the administration might be looking to do a little inflation. Or it might honestly be trying to simplify a confusing and highly criticized formula for counting jobs.

Posted on Jan 11, 2010 READ MORE



AP / Richard Drew

Wall Street Will Be Back for More

When the bailout trillions run out, Wall Street’s maladjusted gamblers will come back for more until our currency becomes junk. Not that any of these people, who exhibit the same traits as psychopaths, have thought this through.

Posted on Jan 10, 2010 READ MORE



Flickr / Ryanpyle.com

China Becomes New World Export Leader

China is heading into the Year of the Tiger with a roar. Last week it was announced that China has surpassed the U.S. as the world’s biggest auto market, and this week Chinese state media is reporting that the country’s exports leaped 17.7 percent in December, overtaking Germany as the global leader.

Posted on Jan 10, 2010 READ MORE



Flickr / edEx

Unemployment Woes Persist

After a smidgen of good economic news in November, the U.S. economy unexpectedly shed 85,000 more jobs in December, continuing a nearly two-year trend and keeping the unemployment rate at 10 percent.

Posted on Jan 8, 2010 READ MORE



Your Bailout Bill: $10,000 (and Counting)

The total price tag for each American for the financial bailout is about $10,000. Could be worse: Brits are paying more than $47,000 apiece. The unemployed bear the brunt of the meltdown, but we all carry a debt for saving Citi, AIG and the rest.

Posted on Jan 7, 2010 READ MORE



Larry’s List: God Hates Lady Gaga Edition

The “God Hates Fags” people have a new villain: Lady Gaga. On today’s list, hear their song, find out how the rich cope with meltdown, and explore whether a Siamese twin would be libel for a murder committed by his conjoined brother.

Posted on Jan 7, 2010 READ MORE



Larry’s List: Chicks With Lit Edition

Of Publishers Weekly’s top 10 books of the year, none are written by women. In Texas, right-wingers are writing the textbooks. These and other outrageous facts on today’s list.

Posted on Jan 6, 2010 READ MORE


iBailout!
gametrailers.com

Now You Too Can Be Among the Powers That Be—Thanks to ‘iBailout!!’

Leave it to the good ol’ U.S. of A. to produce this sort of thing: An enterprising gaming company by the name of Hands-On Mobile has created an iPhone game that allows users to play the part of the money-gobbling Fed. In this digitized satire the Fed actually eats angry citizens. But fear not ... (continued)

Posted on Jan 5, 2010 READ MORE


Why 2010 Doesn’t Have to Be 1994

Democrats can avoid a midterm rout if they get progressives excited without turning off independent voters. Here’s how.

Posted on Jan 3, 2010 READ MORE


Happy New Year From Wall Street

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Posted on Dec 31, 2009 READ MORE



Flickr / edEx

U.S. Jobless Claims Drop

The Labor Department announced Thursday that fewer Americans than anticipated have filed unemployment benefit claims this month, potentially pointing to a less substantial unemployment population and maybe, just maybe, better economic growth in 2010.

Posted on Dec 31, 2009 READ MORE


Fighting Over the Squandered Decade

I’m afraid that the past 10 years will be seen as a time when the United States badly lost its way by using our military power carelessly and pursuing domestic policies that constrained our options for the future.

Posted on Dec 31, 2009 READ MORE



Flickr / saebaryo

Goldman Sachs Duped Investors, Investigation Finds

McClatchy reporters have been digging into the shady offshore dealings of Goldman Sachs and what they found in the records of the financial-meltdown villain is as maddening as you’d expect. (continued)

Posted on Dec 30, 2009 READ MORE


Move Your Money

The filmmaker who gave us “Why We Fight” has crafted this powerful call to action out of scenes from “It’s a Wonderful Life” and documentary footage.

Posted on Dec 30, 2009 READ MORE



Larry’s List: Jewish Mother Edition

Today on the list: Twitter for your Jewish mother, why the health care bill supporters are full of it, inheriting 9/11 and more.

Posted on Dec 30, 2009 READ MORE



Flickr / eflon

What Do AIG’s E-Mails Reveal?

We all know the outcome now, but in the latter months of 2007 executives at AIG seemed to be only starting to catch wind of the problems that eventually led to the nationwide financial collapse the firm helped precipitate a year later. Were they just overly confident? Clueless? Or were they hiding the fact that they knew very well that the jig was up?

Posted on Dec 29, 2009 READ MORE


Iran, Yemen Posing Challenges to American Intelligence

Iran appears to be in the throes of popular uprising, yet the U.S. and Israel continue to flirt with military intervention for dubious reasons.

Posted on Dec 29, 2009 READ MORE



Flickr / Richard.Fisher

We’re Here, We’re Severe, Get Used to It

China has plenty of Prada and an economy to match, but don’t think Beijing has gone soft on “stability preservation.” A speech published by state media shortly after a prominent dissident was thrown in the can encourages security forces to “Strike hard against hostile forces at home and abroad.”

Posted on Dec 27, 2009 READ MORE


Christmas Cheer, at Last

Last Christmas we were staring into the economic abyss. A year later, there’s reason to smile—but no telling where we’ll be a year from now.

Posted on Dec 25, 2009 READ MORE


The Profit

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Posted on Dec 23, 2009 READ MORE    


Michelle Bachmann
AP / Charles Dharapak

Michele Bachmann: Welfare Queen

The anti-government insurrectionist has taken more than a quarter-million dollars in government handouts thanks to corrupt farming subsidies she has been collecting for at least a decade.

Posted on Dec 22, 2009 READ MORE



Flickr / alancleaver_2000

Crime, Murder Rate Drop

Despite staggering unemployment and a poor economic climate, the nation’s crime rate fell 4.4 percent in the first six months of 2009. The national murder rate also fell 10 percent—a decline that is being called one of the more significant in decades.

Posted on Dec 21, 2009 READ MORE



Collage from fly navy and soundfromwayout

Nader’s Utopia: The World According to Ralph

Ralph Nader describes his new book as a “practical utopia.” His quixotic answer to Ayn Rand’s “Atlas Shrugged,” it is a window into the world the consumer advocate and independent presidential candidate wishes he could create.

Posted on Dec 21, 2009 READ MORE



Federal Reserve

Bernanke Wins Senate Panel’s Support

It’s been a good week for Federal Reserve Chairman Ben Bernanke. First came the news that he’d been chosen to be Time magazine’s Person of the Year, and then, on Thursday, the Senate Banking Committee voted to approve his nomination to lead the Fed for another four years.

Posted on Dec 17, 2009 READ MORE


When China Rules the World

China will soon become “the most powerful and influential country in the world,” says celebrated journalist Martin Jacques. But to what end?

Posted on Dec 17, 2009 READ MORE


Whatever Happened to Shame?

What does it say when the New York Post hires Eliot Spitzer’s prostitute as a columnist and the bailout babies of Wall Street can’t be bothered to show up to the White House?

Posted on Dec 16, 2009 READ MORE


George W. Bush
White House Archives / Eric Draper

The Democrats’ Bush Nostalgia

Here’s what Democrats need to ponder: Can they prosper in the absence of George W. Bush?

Posted on Dec 16, 2009 READ MORE


A Visit From Citibank

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Posted on Dec 16, 2009 READ MORE


Krugman
Wikimedia Commons / Prolineserver

Oh, the Naiveté, Mr. Krugman

Here we have one of those columns that might have initially been missed (even by those of us who blog fastidiously about such things) that bears repeating, or re-posting, as the case may be: We submit, for your consideration, Paul Krugman’s latest column. That is all.

Posted on Dec 14, 2009 READ MORE



Larry’s List: All-You-Can-Eat Weekend Wrap-Up

What have you been doing all weekend? If the answer isn’t reading about Fox’s goofy polls, the man who hid 44 lizards in his pants and great moments in Orwellandia, hop on past the jump for the weekend list and catch up.

Posted on Dec 13, 2009 READ MORE


When in Economic Trouble, Invent a Gold Mine

Economist Joseph Stiglitz says the International Monetary Fund should create a new reserve currency, rather like declaring that a massive gold mine has been discovered under the IMF building.

Posted on Dec 10, 2009 READ MORE


Matt Taibbi

Matt Taibbi: Obama’s Wall Street 180 Started on Election Day

Rolling Stone’s Matt Taibbi walks through Barack Obama’s banking sellout, beginning with the president’s transition team. According to Taibbi, Obama’s transformation from populist to Wall Street’s best friend started on day one.

Posted on Dec 9, 2009 READ MORE


Colbert

‘Colbert Report’: Fed’s Dead

Do Americans really need to know how sausage gets made over at the Federal Reserve? As Stephen Colbert points out, there may be a little pig rectum in the mix, but as long as the Fed’s minions are allowed to perform their secret rituals, which may or may not involve ritual chicken slaughter, we all profit in the end, no?

Posted on Dec 9, 2009 READ MORE



Flickr / america.gov

Take Me to Your Climate Leader

“Politicians talk, leaders act” read the sign outside the Bella Center in Copenhagen on the opening day of the United Nations climate summit.

Posted on Dec 8, 2009 READ MORE



White House / Pete Souza

Financial Oversight: We’re Still Waiting, Mr. President

We have a “regulation czar,” but no new regulations. It seems we can expect little from those with a track record of enabling bad policies.

Posted on Dec 8, 2009 READ MORE



AP / Jens Meyer

Liberals Are Useless

The gravest danger we face as a nation is not from the far right, although it may well inherit power, but from a bankrupt liberal class that has lost the will to fight and the moral courage to stand up for what it espouses.

Posted on Dec 7, 2009 READ MORE



cironline.org

Corporate Farmer Calls Upon Sen. Feinstein to Influence Environmental Dispute

Wealthy corporate farmer Stewart Resnick (shown above with wife Lynda) has written check after check to U.S. Sen. Dianne Feinstein’s campaigns, and when he needed her help, he got quick results.

Posted on Dec 6, 2009 READ MORE


Unemployment
wfxl.com

November Surprise: Job Loss Eases

In a sign that the U.S. economy’s two-year job-molting cycle might be coming to an end, the Labor Department reported Friday that just 11,000 American jobs were lost in November and that the unemployment rate had fallen back to 10 percent.

Posted on Dec 4, 2009 READ MORE



speaker.gov

Put Your Money Where Your Jobs Aren’t

The president is so desperate for ways to fight unemployment he issued a call Thursday for “fresh perspectives and new ideas.” Well, Nancy Pelosi has some. The House speaker wants to spend some of that hot, hot TARP money on job creation. (continued)

Posted on Dec 3, 2009 READ MORE


Obama

Obama: ‘I’m Open to Every Demonstrably Good Idea’ About Job Market

President Obama laid out what he believes his administration has been doing to deal with the employment crisis in America thus far and hinted at forthcoming developments in his plan to create more jobs. During a press conference Thursday he tried to take some of the heat off his administration by stating, “Ultimately, true economic recovery is only going to come from the private sector.”

Posted on Dec 3, 2009 READ MORE


Bank of America Set to Repay TARP Debt

Bank of America has been cleared by the U.S. government to repay the $45 billion in TARP funds it received last year at the height of the banking crisis, and BofA may be preparing to do so before 2009 comes to a close. That said, it’s not a foregone conclusion that the transaction will take place this month, even though the company has some built-in motivation to quickly make good on its payback promise.

Posted on Dec 2, 2009 READ MORE


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