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Tag: Economy

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



AP / Charles Rex Arbogast

Kucinich on Obama’s Escalation: Great Speech, Bad Policy

The other “peace candidate” in the 2008 Democratic primary isn’t thrilled with the president’s order to radically escalate the war in Afghanistan, no matter if there’s an exit strategy: “What are we going to learn in 18 months that we haven’t already learned in the last eight years?”

Posted on Dec 1, 2009 READ MORE



AP / Charles Rex Arbogast

Kucinich on Obama’s Escalation: Great Speech, Bad Policy

The other “peace candidate” in the 2008 Democratic primary isn’t thrilled with the president’s order to radically escalate the war in Afghanistan, no matter if there’s an exit strategy: “What are we going to learn in 18 months that we haven’t already learned in the last eight years?”

Posted on Dec 1, 2009 READ MORE


Is It Time for Financial Institutions to Give Back?

It seems plausible that payback time has arrived for the international financial community. The principal obstacle here is, at the moment, the Obama administration.

Posted on Dec 1, 2009 READ MORE



Flickr / SEIU International

Rep. Dennis Kucinich Addresses Escalation in Afghanistan

Rep. Dennis Kucinich writes, “An escalation of the war in Afghanistan at a time of such economic dislocation and hardship raises questions about America’s priorities. ...”

Posted on Dec 1, 2009 READ MORE



Flickr / nattu

The Copenhagen Conundrum

Climate-change skeptics are barking up the wrong smokestack. The shell game being played isn’t with the science, it’s with the solutions.

Posted on Nov 30, 2009 READ MORE


Workers in Pain sign
Flickr / aficio2008

Don’t Look to D.C. to Help in Job Crisis

Talk of giving a much-needed jolt to the job market has petered out in the offices and chambers where something could actually be done about the country’s pervasive employment crisis. This priority problem in policy circles is unacceptable to economics whiz Paul Krugman, who proposes ideas to fill in the gaps.

Posted on Nov 30, 2009 READ MORE



AP / Kiichiro Sato

Addicted to Nonsense

Will Tiger Woods finally talk to the police? Who will replace Oprah? We stand on the cusp of one of the most seismic events in human history and our obsessions revolve around the trivial and the absurd.

Posted on Nov 30, 2009 READ MORE


ENTER_ALT_TEXT

Catch Up on the News With Larry’s List: Thanksgiving Weekend Edition

It’s been a long holiday weekend of gratitude and family strife, yet somehow the world continues to turn. Here comes Larry Gross with an update of all that’s new and interesting.

Posted on Nov 29, 2009 READ MORE


Black Friday 2009

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Posted on Nov 27, 2009 READ MORE


Obama’s Thankless Thanksgiving

So in vogue are attacks on the president that even his proclamation calling the nation to a day of Thanksgiving has become the focus of criticism.

Posted on Nov 25, 2009 READ MORE


Like It or Not, Health Care Mandate Is Constitutional

Law students may debate whether Congress has the right to mandate health insurance, but in the real world, it’s not a big worry.

Posted on Nov 24, 2009 READ MORE



awkwardfamilyphotos.com

They Never Call, They Never Write, They Never Move Out

Nests across America are getting less and less empty as adult children take shelter from a lousy economy. According to Pew, 11 percent of adults now live with their parents and 10 percent of adults between 18 and 34 say the recession ... (continued)

Posted on Nov 24, 2009 READ MORE


window shoppers
flickr/specialkrb

U.S. Economic Growth Falls Short of Earlier Figure

Whoops! The bad news in this bulletin is that the U.S. economy didn’t grow at quite the rate—3.5 percent—from July through September that the Department of Commerce previously said it had. The good news: It still grew, albeit at the whittled-down pace of 2.8 percent during that time.

Posted on Nov 24, 2009 READ MORE



Flickr / Epioles

Books, Not Bombs

With President Barack Obama’s Afghanistan war strategy soon to be announced, the juxtaposition of education cuts and military increases is incensing many, and helping to build a movement.

Posted on Nov 24, 2009 READ MORE



Wikimedia Commons / Henry Han

Banks Gamble With Almost-Free Money

The Fed has been lending money at record-low rates, but instead of passing on the cash to businesses and consumers, big banks are rolling the dice in the financial markets. China and Japan have warned that these American high jinks could once again upend ... (continued)

Posted on Nov 24, 2009 READ MORE


home sales

Home Sales Jump 10.1% in October

Other market sectors are another story, and this story may also change in coming months, but let’s have some good news about the residential real estate market, shall we? Right: The Associated Press is reporting that home sales rose more than 10 percent in October from their September levels, largely due to tax incentives, and November may continue along this trend.

Posted on Nov 23, 2009 READ MORE



AP / Oded Balilty

Refuse Allegiance to Coal

There are some 614 coal-fired power plants in the United States, and it is up to us to shut them down. No one in the White House will do it. No one in Congress will do it. And no one at the coming U.N. climate change conference in Copenhagen will do it.

Posted on Nov 23, 2009 READ MORE


Obama
AP / Sergei Chuzavkov

Obama’s Job Approval Slips Below 50 Percent

President Barack Obama’s on-the-job approval rating is slipping, with two polls in the past week showing that fewer than half of those surveyed are happy with the way he is conducting the business of the presidency.

Posted on Nov 21, 2009 READ MORE


Despite Subsidies, Class Sizes Rise in California Schools

Most of California’s largest school districts are increasing class sizes in kindergarten through third grade, eroding the most expensive education reform in the state’s history.

Posted on Nov 19, 2009 READ MORE


Enough G-2 Talk Already

I have never understood the widely touted idea or assumption of China-U.S. equality or partnership or joint rule of the world or superpower partnership that has dominated the press coverage of Barack Obama’s trip to Asia.

Posted on Nov 19, 2009 READ MORE


DemocracyNow

Throw the Money Changers Out of the Temple

Wall Street profits are an obscene affront to Scripture, as Robert Scheer details in an interview with Amy Goodman on “Democracy Now!”

Posted on Nov 19, 2009 READ MORE



AP / Manuel Balce Ceneta

GOP Obstruction Goes Unnoticed—and Unpunished

Democrats in the Senate may engage in collective suicide, but it’s Republicans who, with Machiavellian brilliance, have brought the country to a halt.

Posted on Nov 18, 2009 READ MORE


Harvard the (Fake) Infomercial

Lawrence Summers’ derivative bets may have cost Harvard $11 billion, but we didn’t see this coming. America’s premier training ground for millionaires and unabombers has resorted to late night infomercials. Ever consider a career in bonuses? Act now!

Posted on Nov 18, 2009 READ MORE



AP / Alex Brandon

Who Are You and What Have You Done With the Community Organizer We Elected President?

What’s up with Barack Obama? Finally someone has a good idea about how to deal with Wall Street and the White House condemns it. 

Posted on Nov 18, 2009 READ MORE



Flickr / Rachel Zack

1 in 7 Americans Went Hungry in 2008

That recession is over statement looks more unfortunate every day. The Department of Agriculture disclosed Monday that a little more than 49 million Americans had trouble putting food on the table last year—the highest percentage since the government began keeping track in 1995, up 13 million people from the previous year. (continued)

Posted on Nov 16, 2009 READ MORE



Flickr / eflon

Bernanke Signals Possible End to ‘Too Big to Fail’ Era

Those financial institutions that viewed last year’s bailout as an object lesson that they can carry on as they wish so long as they’re “too big to fail” may have to adopt another approach. At least, that was the message Monday from Federal Reserve Chairman Ben Bernanke, if he makes good on words of warning to big banks.

Posted on Nov 16, 2009 READ MORE


Left, Right & Center

‘Left, Right & Center’: 9/11 Trial; Obama’s Afghani-Standoff

Does the planned trial of the five alleged 9/11 plotters (including oft-referenced “mastermind” Khalid Sheikh Mohammed) represent a partisan issue? “Left, Right & Center” mainstay Tony Blankley thinks so, but his left-leaning counterpart, Robert Scheer, begs to differ on this week’s show. Also: What’s with all the deliberation about Afghanistan?

Posted on Nov 13, 2009 READ MORE


Happy 40th Sesame Street

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Posted on Nov 12, 2009 READ MORE



Mike McCaffrey

The Economy Looks Better in Paul Krugman’s Neighborhood

Around here we take what Paul Krugman has to say seriously, which is probably why we’ve been so depressed lately. Alas (at last, even), the Nobel Prize-winning economist sees signs of hope—not in the numbers, but walking around the streets of New York and Princeton. (continued)

Posted on Nov 11, 2009 READ MORE


The Man Who Put the Rainbow in ‘The Wizard of Oz’

The 70-year-old film classic bears close watching this year, perhaps more than in any other, for the message woven into the lyrics, written during the Great Depression by Oscar-winning lyricist E.Y. “Yip” Harburg.

Posted on Nov 10, 2009 READ MORE



Flickr / SEIU International

Kucinich: Why I Voted No

Rep. Dennis Kucinich explains why he voted against the landmark health reform bill, which he says “continues the redistribution of wealth to Wall Street at the expense of America’s manufacturing and service economies.”

Posted on Nov 8, 2009 READ MORE



earthopennetwork.org

The Real Unemployment Number: 17.5%

More than one in every six U.S. workers are either unemployed or underemployed, a statistic arguably more significant than the 10.2 percent jobless rate posted in October, as it factors in those who have quit looking, as well as part-time workers desiring full-time gigs.

Posted on Nov 7, 2009 READ MORE


Generic Unemployment
connectedmichigan.com

Unemployment Breaks the 10% Barrier

In news that President Barack Obama described as “sobering,” the U.S. unemployment rate in October broke into the double-digit range, with 10.2 percent of Americans without jobs, the highest rate since April 1983.

Posted on Nov 6, 2009 READ MORE



AP / Mark Lennihan

Steve Fraser on the Crisis of Capitalism

Does the prospect of deepening economic meltdown and political disarray raise the specter of a social upheaval and, perhaps, the collapse of capitalism, the likes of which we haven’t seen since the Great Depression?

Posted on Nov 6, 2009 READ MORE


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