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Tag: Economy

Goldman’s Massive Bonuses ‘Totally Deserved,’ Says Satan

The gargantuan year-end bonuses paid out to Goldman Sachs executives have received howls of protests from the banking giant’s legion of critics, but not from its most ardent defender: Satan.

Posted on Dec 26, 2010 READ MORE


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AP / Manu Fernandez

A Crisis Economy of Language

With the world economy still wallowing in crisis and social services being cut across poor and rich nations alike, it’s not surprising that the winner of Merriam-Webster’s annual “Top Ten Words of the Year” for 2010 is … austerity.

Posted on Dec 26, 2010 READ MORE


Faces of Economic Death

If you’ve turned on the tube these last few weeks, you’ve probably been a collateral casualty of the biggest televisual war of attrition in recent memory.

Posted on Dec 24, 2010 READ MORE


Christmas Stocking









Posted on Dec 23, 2010 ENLARGE



White House / Pete Souza

For Biden, Mission Accomplished

START was the finish of a great few weeks for Joe Biden. A great few weeks for President Obama too but in a sense even better for Biden because so many of the successful initiatives were on the vice presidential to-do list.

Posted on Dec 23, 2010 READ MORE



Flickr / benklocek (CC-BY)

Teen Birthrate Plummets in 2009

For the second year in a row, the birthrate among American teenagers has dropped, hitting a record low point in 2009, according to the National Center for Health Statistics. So what’s the reason for the good news?

Posted on Dec 22, 2010 READ MORE



AP / Fradioon Pooya

Speaking Ill of ‘the Best and the Brightest’

One of “the best and the brightest” died last week, and in Richard Holbrooke we had a perfect example of the dark mischief to which David Halberstam referred when he authored that ironic label.

Posted on Dec 22, 2010 READ MORE


Foreign Policy Review Suggests a Losing Effort

The great campaign to create a new Middle East and Central Asia, slay Islam’s violent extremists and build a radiant new world of democracy and capitalism is moving backward.

Posted on Dec 21, 2010 READ MORE



AP / Sebastian Scheiner

Obama’s 2010 Successes and Failures in the Middle East

As the decade draws to a close, it is clear that the bright hopes inspired by Obama’s 2009 Cairo speech have markedly faded, and the disappointments have outweighed achievements in the most important arena for contemporary American foreign policy.

Posted on Dec 21, 2010 READ MORE


It’s a Wonderful Life—for Wall Street









Posted on Dec 19, 2010 ENLARGE


Good Business, for CEOs and Commoners Alike

Our government already favors certain industries—finance and defense, among them. President Obama should identify the parts of the private sector that share an interest in reducing the dreadful inequalities that have metastasized over nearly four decades.

Posted on Dec 19, 2010 READ MORE



whitehouse.gov

Obama: Tax-Cut Deal Helps the Middle Class

In Internet-ese, one possible response to a couple of President Obama’s more intriguing justifications on Friday for the passing of the contentious tax-cut bill might be O RLY? This is because the president declared later that same day ...

Posted on Dec 17, 2010 READ MORE


Why the ‘Lazy Jobless’ Myth Persists

During the recent fight over extending unemployment benefits, conservatives trotted out the shibboleth that says the program fosters sloth.

Posted on Dec 17, 2010 READ MORE



Flickr / Håkan Dahlström (CC-BY)

Half of Californians Can’t Afford Their Homes

More than half of the state's homeowners with a mortgage—51.4 percent—spend more than 30 percent of their monthly income on housing costs, according to 2005-2009 estimates from the U.S. Census Bureau's American Community Survey. ... (more)

Posted on Dec 16, 2010 READ MORE


Labels Aren’t the Problem

The “No Labels” group that held its inaugural meeting this week in the name of the political center fills me with passionate ambivalence.

Posted on Dec 15, 2010 READ MORE



AP / J. Scott Applewhite

Return of the Great Triangulator

The sight of Bill Clinton back at the White House podium defending tax cuts for the super-rich was more a sick joke than a serious amplification of economic policy.

Posted on Dec 15, 2010 READ MORE



Wikimedia Commons / Scrumshus

Senate Vote Boosts Obama’s Tax-Cut Bid

That pronounced blast of disapproval from the left-leaning ranks in the House of Representatives last week may not be enough to blow President Barack Obama’s tax-cut proposal down, as the Senate gave it a strong vote of confidence Monday.

Posted on Dec 13, 2010 READ MORE



Flickr / Gage Skidmore (CC-BY-SA)

Ron Paul Considers Another Run for the White House

The iconoclastic congressman is riding high in the wake of tea party hype and he tells The New York Times his chances of running again for the presidency are “at least 50-50.”

Posted on Dec 13, 2010 READ MORE


Obama’s Tax-Cut Plan for Dummies

From the “White House White Board” to Glenn Beck’s blackboard, it seems like everyone’s trying to spell out fundamental political concepts using methods usually reserved for elementary school teachers. Does this say something about their opinions of American voters?

Posted on Dec 13, 2010 WATCH & LISTEN


The Specter Haunting Obama

American decline is the specter haunting our politics. This could be President Obama’s undoing—or it could provide him with the opportunity to revive his presidency.

Posted on Dec 13, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: Obama in the Middle

What are we to make of Obama’s concessionary tax-cut move this week? Politically savvy or just another sign that what some of us bought isn’t what we got in our president? There’s definitely some disagreement about this point among the panelists ...

Posted on Dec 10, 2010 WATCH & LISTEN



White House / Pete Souza

Obama Speaks Ill of His Allies

What does President Obama think of those who fought and bled to pass his bills in Congress (in some cases losing in this year’s election for their pains) while also defending him against wild charges from the right wing? Are they among the liberals he described as “sanctimonious”?

Posted on Dec 9, 2010 READ MORE


Opportunity in a Tax Deal

President Obama’s tax deal offers him a relatively painless way to wriggle out of his most irresponsible campaign promise: to permanently extend the so-called middle-class tax cuts, the middle in this case amounting to 98 percent of households.

Posted on Dec 7, 2010 READ MORE


Obama Attempts to Justify Tax-Cut Compromise

This just in: The rich get richer. President Barack “Hope ’n’ Change” Obama ticked off a lot of people Monday by helping the affluent and entitled stay that way with his GOP-appeasing tax cut plan ...

Posted on Dec 7, 2010 WATCH & LISTEN


One-Man Fire Brigade

Ben Bernanke may or may not succeed in saving the economy, but at least he has the courage to try—and the honesty to tell the truth. The same cannot be said of our elected officials.

Posted on Dec 7, 2010 READ MORE



White House / Pete Souza

Obama’s Tax Cave Is Worse Than Expected

Based on what The New York Times describes as President Obama’s “substantial concessions to Republicans,” Democrats in Congress have reason to fret. Not only did Obama agree to extend the Bush tax cuts for the wealthy, but he caved in to Republican demands to neuter the estate tax. ... (more)

Posted on Dec 7, 2010 READ MORE


Cutting Medicare and Social Security









Posted on Dec 6, 2010 ENLARGE



AP / Jacob Silberberg

Happy as a Hangman

What is frightening in collapsing societies is not only the killers, sadists, murderers and psychopaths who rise up out of the moral swamp to take power, but the huge numbers of ordinary people who become complicit in state crimes.

Posted on Dec 6, 2010 READ MORE


Can Democrats ‘Up Their Game’?

Being the party of “new and improved” surely beats getting trapped in a fight whose terms were set entirely by Republicans.

Posted on Dec 6, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: What a Wiki-Week It Was

What WikiLeaks revealed might have embarrassed some bigwigs around the world, but will the released information really hurt U.S. interests? America’s jobs outlook is still heading downward as the unemployment benefits of thousands expire. Does the deficit matter more than people do?

Posted on Dec 3, 2010 WATCH & LISTEN


Unemployment
Flickr / getfrank.

Joblessness Ticks Higher in November

Like a recalcitrant and over-sugared child, U.S. unemployment figures just won’t settle down. The country’s jobless rate ticked up to 9.8 percent in November, a world away from economic recovery.

Posted on Dec 3, 2010 READ MORE


The Grinch Who Stole Washington

Why did Republicans go to the trouble and expense of winning the midterm elections?

Posted on Dec 3, 2010 READ MORE


Where Is Obama Going?

Is President Obama’s strategy of offering pre-emptive concessions destined to make enemies of his potential friends in the electorate without winning over any of his adversaries?

Posted on Dec 2, 2010 READ MORE



Wikimedia Commons / Robert Mihaly (CC-BY-SA)

New Data Show Extent of Fed’s Free Money Programs

Thanks to Bernie Sanders and the new financial regulation passed by Congress, we’re learning more about the Federal Reserve’s $3.3 trillion bailout of Wall Street in 2008. It turns out the Fed lent money ... (more)

Posted on Dec 1, 2010 READ MORE



Flickr / Daniel Lobo (CC-BY)

Unemployment Benefits Run Out

Just in time for Christmas, unemployment benefits, which average $302.90 a week, are starting to run out for about 2 million Americans. Unless Congress acts, more will join their ranks. The Washington Post reports on what it’s like to tell your 9-year-old there aren’t going to be presents this year.

Posted on Dec 1, 2010 READ MORE


Obama Wants to Put Federal Workers’ Wages on Ice

In his latest bid to chip away at our nation’s trillion-dollar deficit, President Obama announced a new proposal Monday to freeze civilian federal employees’ salaries for the next two years, pointing to the need for all Americans to “sacrifice” ...

Posted on Nov 29, 2010 WATCH & LISTEN



AP / Pablo Martinez Monsivais

Real Hope Is About Doing Something

Many of us will, after our rally in Lafayette Park, attempt to chain ourselves to the fence outside the White House. It is a pretty good bet we will all spend a night in jail. Hope, from now on, will look like this.

Posted on Nov 29, 2010 READ MORE



AP / Yonhap

North Korea Attack: ‘It’s Whatever’

North Korea’s provocative shelling of tiny Yeonpyeong island has the world in a stir, but residents of Seoul have been mostly cool, almost indifferent.

Posted on Nov 25, 2010 READ MORE


Cultural Rebirth in the Old World

All of the populated (or formerly populated) world possesses its own past in ruined or replicated or restored form, capable of generating awe among the people of our time. But some live on because the crafts of the past continue to provide sustenance.

Posted on Nov 24, 2010 READ MORE



AP / Jeff Widener

Power and the Tiny Acts of Rebellion

There is no hope left for achieving significant reform or restoring our democracy through established mechanisms of power. We must take to the streets, armed with the tiny acts of truth and kindness that throughout history have exposed the oppressor’s cruelty.

Posted on Nov 22, 2010 READ MORE



youtube.com

Soccer Star Boots the Banks

While European economies stutter and protests in a number of European countries continue to go unanswered, it’s almost hilarious that we may turn to 1990s soccer sensation Eric Cantona for help. A Cantona interview has become a YouTube sensation, launching an online political movement based on non-participation within capitalism.

Posted on Nov 21, 2010 READ MORE


USPS Losses









Posted on Nov 19, 2010 ENLARGE


Cowen Catching the “Celtic Tiger”









Posted on Nov 19, 2010 ENLARGE



AP / Peter Morrison

$50 Billion for Irish Bailout

Although it may sound like a delicious alcoholic beverage rather than a $50 billion rescue of Ireland’s capitalist apparatus, an Irish bailout by the International Monetary Fund, the European Commission and the European Central Bank is being discussed as the island country reels from debt and failed banks.

Posted on Nov 19, 2010 READ MORE


Irish Labor Party Rep Excoriates Minister for ‘Destroying Economy’

The Irish economy is in quite a state, and according to Labor TD (that’s MP in Irish parlance) Pat Rabbitte, some specific people are to blame for Ireland’s plight. One of them just happened to be right next to him ... (continued)

Posted on Nov 19, 2010 WATCH & LISTEN



White House / Pete Souza

Look Who’s the Decider Now

Forget the Republicans. It’s the president who sets the agenda, and who ultimately is held accountable for America’s successes and failures.

Posted on Nov 19, 2010 READ MORE


To Deter Crime, Get Tough on Wall Street

What would happen if the criminals who destroyed the economy were thrown in jail—or the electric chair? We’ll never know.

Posted on Nov 19, 2010 READ MORE



Flickr / Lacie Babenco (CC-BY-SA)

GM’s Big Day

The troubled, bankrupted, bailed-out, reinvented automaker had a record day on Wall Street, potentially raising $23.1 billion, and the White House is breathing a sigh of relief. But as the BBC’s Paul Adams cautions, it will be a while before the taxpayers get their money back.

Posted on Nov 18, 2010 READ MORE



Flickr/Jeremy Burgin (CC-BY-SA)

Recessions Are Not Good for Your Mind

According to the government agency with the fun acronym SAMHSA, the Substance Abuse and Mental Health Services Administration, 2009 was no party in terms of adult Americans’ mental health. (continued)

Posted on Nov 18, 2010 READ MORE


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