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Tag: Economy


Flickr / frozenchipmunk (CC-BY)

Obama Wants $50 Billion For Teachers, Cops and Firefighters

With a relative drop in the bailout bucket, the president thinks he can save 300,000 teachers who would otherwise be kept by economic calamity from annoying America’s children. The money would go to state and local governments struggling to make ends meet.

Posted on Jun 13, 2010 READ MORE



Flickr / World Economic Forum

Turning the Crisis Corner

In a metaphorical walk around the debt crisis block, Greece’s prime minister has said he believes his country is “turning the corner” as economic recovery efforts by the ransacked country may have started to pay off.

Posted on Jun 12, 2010 READ MORE


stock broker
AP / Seth Wenig

Stock Market Slumps on Consumer Spending Concerns

The news from Wall Street wasn’t great as the week wrapped up and trading shut down Friday, although it wasn’t bad across the board. The stock market took a tumble, registering ongoing worries about ... (continued)

Posted on Jun 11, 2010 READ MORE



Flickr / JobColing

Retail Sales Drop Stirs Fears

U.S. retailers reported a surprise decline in sales in May, the first in eight months, stirring nagging fears that the much-discussed road to economic recovery isn’t as on track as once believed.

Posted on Jun 11, 2010 READ MORE



Flickr / Nic's events (CC-BY-SA)

High School Dropouts Aren’t Helping

A smaller percentage of American high-schoolers are making it through all four years, reports The Christian Science Monitor. Lower graduation rates add up to an economic loss of billions in wages and tax revenue and a gloomy future in competing with those overachieving brainiacs in China and India.

Posted on Jun 10, 2010 READ MORE



Flickr / marjoleincc (CC-BY-SA)

Israel’s Gift to Iran’s Hard-Liners

Juan Cole, who offers the single best available running commentary on the Middle East, considers the ways in which, on the first anniversary of the fraudulent Iranian elections and the rise of the Green Movement, the policy moves of both the U.S. and Israel continued to backfire in Iran.

Posted on Jun 10, 2010 READ MORE


Brown

A Very Jerry Primary Party: Brown Readies for Battle With Meg Whitman

California Attorney General Jerry Brown is making his play to once again become governor of the Golden State, and he stepped out Tuesday night at Club Nokia in downtown Los Angeles to extoll the value of ... (continued)

Posted on Jun 9, 2010 READ MORE


Bernanke
Wikimedia Commons / U.S. Federal Reserve

Bernanke: Unemployment to Be ‘High for a While’

There are economic indicators that we want to be on the high end of the scale, but unemployment isn’t one of them. Unfortunately, according to Federal Reserve Chairman Ben Bernanke, the U.S. unemployment rate ... (continued)

Posted on Jun 8, 2010 READ MORE



Truthdig collage based on a White House photo by Pete Souza

The Christian Fascists Are Growing Stronger

Tens of millions of Americans are creating a theocratic state based on “biblical law,” and shutting out all those they define as the enemy.

Posted on Jun 7, 2010 READ MORE



White House / Chuck Kennedy

Obama’s Trips to the Gulf Serve an Important Need

Are these visits “theater”? To be sure. But presidential theater of the right kind is not without value. It can be of huge worth especially in times of desperation, and especially in this cynical day.

Posted on Jun 7, 2010 READ MORE



AP / Hussein Malla

A Warning From Noam Chomsky on the Threat of Elites

Whether in war or finance, the imperial mentality of elites is increasingly threatening the “unpeople” of the world, as Noam Chomsky writes in his latest book.

Posted on Jun 6, 2010 READ MORE


Obama’s Double Bind

The simple truth is that the most important issue facing the nation is not the oil spill, however horrific its effects will be, but the economy.

Posted on Jun 6, 2010 READ MORE



Live Chat: ‘Treat Palestinians Like Jews’

Robert Scheer addresses reader questions and comments about his most recent column and Israel’s deadly attack on the aid flotilla.

Posted on Jun 5, 2010 READ MORE


Michael Steele
Wikimedia Commons / Steele for Chairman

GOP Jumps on Dismal Jobs Report

A president’s employment problem is the opposition’s cannon fodder during election season, and Friday’s bad news on employment is giving the GOP some opportunities to lob a few more hits at the Democrats during the lead-in to this fall’s midterm elections.

Posted on Jun 4, 2010 READ MORE



Flickr / brmurray

Census Hiring Boosts Jobs in May

The U.S. economy tacked on 431,000 new jobs in May, the biggest monthly jump in a decade, but most of those were people hired for the 2010 census count, and those jobs will vanish after the summer.

Posted on Jun 4, 2010 READ MORE


From Shared Sacrifice to Hedonism

After Japan’s 1941 attack on Pearl Harbor, Franklin Roosevelt delivered a national address making eight references to the “sacrifice” that would be needed in the impending war and three mentions of the “self-denial” we would have to endure.

Posted on Jun 3, 2010 READ MORE



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


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