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Tag: Economy

wallet
Flickr / Thirteen of Clubs

Oh, How the Wages Have Fallen

Most Americans have caught on by now that the economic implosion that rocked the national and global economy over the past two years hasn’t meant good things for their personal finances.  (continued)

Posted on Jul 8, 2010 READ MORE


Obama
AP / Orlin Wagner

Obama Brings Magical Economic Thinking to Nation’s Heartland

President Barack Obama didn’t exactly have the numbers on his side Thursday when he told voters in Kansas City, Mo., that, economically speaking, “we’re headed in the right direction.”

Posted on Jul 8, 2010 READ MORE


Show Us the Money

We could easily slip into another Great Depression if our leaders continue to heed the chattering class on the deficit. But cutting spending is not just bad economics; it’s bad politics, too.

Posted on Jul 7, 2010 READ MORE


Obama
AP / Pablo Martinez Monsivais

Two More Candidates for the McChrystal Treatment

It’s not working. Time for the president to concede that the economy is at best stagnating and at worst about to take another steep nose dive.

Posted on Jul 6, 2010 READ MORE


Pitfalls of Soaking the Rich

Rich Trumka—the AFL-CIO president intercepts any attempted honorific with an easy “Call me Rich”—comes armed with charts. His first one is, literally, in shades of gray. Its message is anything but.

Posted on Jul 6, 2010 READ MORE



Flickr / walknboston (CC-BY)

Wall Street Donors Withhold Money, Affection From Democrats

Maybe the Democrats are doing something right after all. According to the number crunchers at The Washington Post, donations from the New York area to the party’s congressional campaign committees are down 65 percent, with the drop largely attributed to Wall Street’s dissatisfaction with financial reform. (continued)

Posted on Jul 6, 2010 READ MORE



Crisis of Capitalism

Today’s list features an amazing animation on the crisis of capitalism, a dispatch from a Gulf Coast media felon and a debate on the ownership of breasts.

Posted on Jul 6, 2010 READ MORE



Flickr / twicepix (CC-BY-SA)

Fiddling While the Economy Burns

Let me put it in terms that Washington understands: The party that begins to treat the unemployment crisis with the hair-on-fire urgency that it deserves is the party that will do well in November.

Posted on Jul 5, 2010 READ MORE


After the Recession, Belt-Tightening

This is no time for retrenchment, but the deficit projections coming out of the Congressional Budget Office are alarming and will only get worse if we dawdle.

Posted on Jul 4, 2010 READ MORE



AP / Mark Lennihan

June Gloom in the Job Picture

June’s private-sector employment growth was less than stellar, with a “dishearteningly low number” of jobs being added to domestic payrolls in a signal that the economic recovery is encountering some serious headwinds.

Posted on Jul 2, 2010 READ MORE


Republican Worldview: It’s All Good

Judging by their response to millions of uninsured Americans, the drilling disaster in the Gulf and the economic crisis, Republicans should run on the slogan “It’s all good. Except for that Obama guy. And Nancy Pelosi.”

Posted on Jul 1, 2010 READ MORE


David Viniar
AP / Evan Vucci

‘Very Skeptical’ Brooksley Born Takes on Goldman Brass

If there’s one person we’d want to see grill Goldman Sachs bigwigs about certain fishy pre-financial-meltdown practices in which they apparently engaged, such as their failure to give useful details about ... (continued)

Posted on Jul 1, 2010 READ MORE



World Economic Forum / Remy Steinegger

The Passionless Party

You know the Democrats have a problem when party insiders think John Kerry is too intense.

Posted on Jun 30, 2010 READ MORE


Rehm
AP / Virginia Mayo

EU Moves to Cap Bank Bonuses

Looks like banking executives in EU member nations will have to settle for slightly less ginormous bonuses in the coming year, once the European Parliament puts its official stamp on an agreement to limit banking bonuses and severance packages.

Posted on Jun 30, 2010 READ MORE


Daily Show

‘Daily Show’: ‘Fox & Friends’ Says Don’t Blame Bush

According to the highly nonpartisan lineup of talking heads on “Fox & Friends,” the statute of limitations has officially passed for blaming the Bush administration for any stuff that’s hit the fan since W. left office.

Posted on Jun 30, 2010 READ MORE



senate.gov

Why Russ Feingold Won’t Vote for ‘Fig Leaf’ Financial Reform

“False security is no security at all,” writes the Wisconsin senator, who says he will not vote for the financial reform bill because it would not prevent another meltdown and “has Wall Street’s fingerprints all over it.” According to Feingold, “the administration and conference leaders have gone to significant lengths to avoid making the bill stronger.”

Posted on Jun 30, 2010 READ MORE



Photo illustration from White House photo by Pete Souza

Regulators Made Sure Goldman Sachs Got All of Its Bailout Money

A devastating report in The New York Times documents how Timothy Geithner’s New York Fed worked tirelessly to make sure that AIG was forced to pay banks such as Goldman Sachs 100 percent on dubious contracts that might otherwise have been slashed or subjected to lawsuits. (continued)

Posted on Jun 29, 2010 READ MORE



Jose Ibanez / "South of the Border"

Oliver Stone Responds to New York Times Attack

“Larry Rohter attacks our film, ‘South of the Border,’ for ‘mistakes, misstatements and missing details.’ But a close examination of the details reveals that the mistakes, misstatements, and missing details are his own.”

Posted on Jun 28, 2010 READ MORE


Arbitrary and Capricious, Indeed

If you’re worried about judicial activism, take a look at the Ronald Reagan-appointed federal judge in New Orleans who just lifted the Obama administration’s moratorium on deep-water drilling.

Posted on Jun 24, 2010 READ MORE



Flickr / Wagner T. Cassimiro "Aranha" (CC-BY)

Save the Trees, Save the Planet

What would the wealthy nations of the West (and their rising rivals in the East) do if they actually wanted to prevent catastrophic warming? Here in Africa, the obvious answer is that they would find the ways and means to discourage deforestation.

Posted on Jun 23, 2010 READ MORE



U.S. Air Force / Staff Sgt. JoAnn S. Makinano

5 Million Iraqis Killed, Maimed, Tortured, Displaced—Think That Bothers War Boosters?

The immensity of Iraqi civilian suffering is incomprehensible. How can war’s cheerleaders like Christopher Hitchens claim to fight on behalf of the people whose lives they helped destroy?

Posted on Jun 23, 2010 READ MORE



White House / Pete Souza

Budget Director Calls It Quits

Peter Orszag is resigning his Cabinet-level position and possibly heading to the relative calm of a think tank. Orszag decided to leave before work on the next budget starts in earnest. A successor is likely to be promoted from within the administration.

Posted on Jun 22, 2010 READ MORE


hoyer
Wikimedia Commons / U.S. Congress

Hoyer: Middle-Class Tax Cuts Might Need to Go

George W. Bush bought himself a little goodwill by instating some strategic middle-class tax cuts while he was president, but those are about to expire, and according to House Majority Leader Steny Hoyer ... (continued)

Posted on Jun 22, 2010 READ MORE



AP / Prakash Hatvalne

From Bhopal to BP

The “massacre” sentences were far too light, but at least India put executives on trial. Let’s hope the U.S. has the will to fully investigate and, if warranted, try BP executives.

Posted on Jun 21, 2010 READ MORE


All Shook Up for BP

Joe Barton is not alone. The Texas congressman’s lavish sympathy for BP—which he sees not as perpetrator of a preventable disaster but as victim of a White House “shakedown”—is actually what passes for mainstream opinion among conservative Republicans today.

Posted on Jun 21, 2010 READ MORE


A Different Kind of Malaise

President Obama gave a good and sensible speech that was not a home run. What’s odd is that Obama was seen as needing a home run. This is where the Democratic malaise comes in. Democrats should feel a lot better than they do.

Posted on Jun 16, 2010 READ MORE


A Green ‘New Deal’ Now

Clearly the president understands what is at stake. And he apparently senses renewed opportunity in the wake of the Gulf catastrophe, which illustrates the problems of oil dependency with harrowing urgency.

Posted on Jun 16, 2010 READ MORE



Our Webby Acceptance Speech

The Webby Awards were held Monday night in the posh Cipriani ballroom (once the lobby of the bank that would become Citi) on Wall Street. Truthdig Editor Robert Scheer took the opportunity to stick it to the neighborhood. Video after the jump.

Posted on Jun 15, 2010 READ MORE



Ari Mintz

A ‘Prophecy’ Worth Watching

Theater, which at its best makes us more human and humane, has become increasingly mediocre, produced as spectacle or driven by the presence of Hollywood celebrities.

Posted on Jun 13, 2010 READ MORE


Spend Now, Save Later

Do Democrats honestly think that nickel-and-diming on stimulus now will either have a substantial impact on the long-term deficit or be of greater help to them in this fall’s elections than more robust growth?

Posted on Jun 13, 2010 READ MORE



U.S. Army / Staff Sgt. William Tremblay

They Just Found $1 Trillion in Afghanistan

Afghanistan was thought to be a hardscrabble wasteland good for producing little more than opium—that is until a gang of American geologists working from old Soviet maps uncovered a variety of mineral deposits thought to be rich enough to radically alter our whole concept of Afghanistan and the war to control it.

Posted on Jun 13, 2010 READ MORE



Flickr / MichalFoto (CC-BY-ND)

Stealth Superpower: How Turkey Is Chasing China in Bid to Become the Next Big Thing

Turkey has ambitions beyond the Middle East and the means to get there.

Posted on Jun 13, 2010 READ MORE



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


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