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Tag: Economy


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



Flickr / david.nikonvscanon (CC-BY)

The Crime of Our Time

Danny Schechter’s new movie, “Plunder: The Crime of Our Time,” tells the story of the economic collapse as “a crime narrative as opposed to a mistakes narrative.”

Posted on May 5, 2010 READ MORE



Flickr / david.nikonvscanon (CC-BY)

The Crime of Our Time

Danny Schechter’s new movie, “Plunder: The Crime of Our Time,” tells the story of the economic collapse as “a crime narrative as opposed to a mistakes narrative.”

Posted on May 5, 2010 READ MORE


Border-First Hallucinations

The notion that the first thing to do is “secure the border” between the United States and Mexico—and only then worry about comprehensive immigration reform—falls somewhere between hopeful fantasy and cynical cop-out.

Posted on May 4, 2010 READ MORE



U.S. Air Force / Airman 1st Class Eboni Knox

No One Cares

We are approaching a decade of war in Afghanistan, and the war in Iraq is in its eighth year. The peace movement, despite the heroic efforts of a handful of groups, is dead.

Posted on May 3, 2010 READ MORE


And Nothing But the Truth

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Posted on May 2, 2010 READ MORE


Somali Pirates Say They Are Subsidiary of Goldman Sachs

The pirate leader acknowledged that they merged their operations with Goldman in late 2008 to take advantage of the more relaxed regulations governing bankers as opposed to pirates, “plus to get our share of the bailout money.”

Posted on May 2, 2010 READ MORE



Flickr / International Monetary Fund

Profiting From Peace

Who would have thought that peace could be good for the economy? Ask Stanley Fischer, Israel’s central bank chief, who delivered that startling pronouncement in a speech this weekend, arguing that a peace deal between his country and the Palestinians would actually help Israel achieve “one of the most advanced economies in the world.”

Posted on May 2, 2010 READ MORE



AP / Bob Bird

Pitting Worker Against Worker

In this May Day special feature, economist Moshe Adler argues that the answer to our immigration, labor and broader economic problems is more immigration and more welfare for all.

Posted on Apr 30, 2010 READ MORE



Live Chat: Robert Scheer on the Goldman Hearings

Will the Goldman Sachs hearings really accomplish anything? Are the Democrats just showboating? What are the prospects for real financial reform? Robert Scheer answers these reader questions and more.

Posted on Apr 29, 2010 READ MORE


How Wall Street Creates Socialists

No leftist polemicist could come up with as damning a description of contemporary capitalism as the contents of an e-mail that Goldman’s Fabrice “Fabulous Fab” Tourre sent to his girlfriend.

Posted on Apr 28, 2010 READ MORE


It Takes Power to Control Power

Discredited as the financial powers are, their wealth alone continues to provide them with wildly disproportionate influence over the political process.

Posted on Apr 28, 2010 READ MORE


The Fiddler

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Posted on Apr 28, 2010 READ MORE


The Republican to See Suddenly Won’t Deal

It isn’t easy being a caucus of one. Sometimes you don’t even agree with yourself. Just ask Sen. Lindsey Graham, the Democrats’ go-to Republican.

Posted on Apr 28, 2010 READ MORE



The New Secessionists

The difference between the tea party and the secessionist movement bubbling up in some two dozen states is that the tea party believes America can be fixed.

Posted on Apr 26, 2010 READ MORE


Party Crasher

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Posted on Apr 25, 2010 READ MORE


Goldman CEO to Perform Community Service as Treasury Secretary

A Treasury Department spokesperson said that by performing community service as treasury secretary, Lloyd Blankfein will do less harm to the economy because he will have significantly less power than he had as chairman of Goldman.

Posted on Apr 25, 2010 READ MORE


Lock, Stock & Sock

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Posted on Apr 23, 2010 READ MORE    


Titan Over Wall Street

Perhaps Obama could have scored more popularity points if he had ordered a few financiers to be led out of the Cooper Union auditorium in handcuffs.

Posted on Apr 22, 2010 READ MORE


Bill Clinton
Flickr / Chris Denbow (CC-BY)

Clinton’s Contrition

Whereas former presidents typically devote their retirements to history-revising legacy preservation, Bill Clinton is laudably doing the opposite—and the nation will, hopefully, benefit.

Posted on Apr 22, 2010 READ MORE



Live Chat: Robert Scheer on Goldman Sachs

Read a full transcript of Robert Scheer discussing with readers his latest column, the crooks at Goldman Sachs and the prospects of financial reform.

Posted on Apr 22, 2010 READ MORE


Obama
AP / Alex Brandon

Obama Pitches Financial Reform to Wall Street Execs

President Obama spoke before a group of fat cats—or rather, “titans of industry,” as he called them—from Wall Street on Thursday at Cooper Union in New York City, the same site where he’d delivered his pre-bailout, pre-presidential speech on the economy two years ago, in an attempt ... (continued)

Posted on Apr 22, 2010 READ MORE



Earth Day Edition

The trouble with “tweet seats,” Andrew Sullivan explains to the president why gays are hollering at him, and why a gutless YouTube is stifling free expression—and comedy.

Posted on Apr 22, 2010 READ MORE


Bull Market

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Posted on Apr 21, 2010 READ MORE



AP / Andy Blenkush

Borrowing While Poor

Why should a poor borrower be held more responsible than a rich borrower for the default of another poor borrower?

Posted on Apr 20, 2010 READ MORE


Goldman’s Shell Game

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Posted on Apr 19, 2010 READ MORE



White House / Pete Souza, File

Obama Flies In to Give Sen. Boxer a Boost

The president didn’t mince words Monday during a Los Angeles fundraiser for Sen. Barbara Boxer’s bid for re-election, warning “she might not win this thing.” One poll has Boxer about even with the competition, which has yet to be decided by state Republicans. (continued)

Posted on Apr 19, 2010 READ MORE


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