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E.J. Dionne
$22.95
By Ilan Pappe
$40
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A poll by The Washington Post-ABC News reports that nine in 10 Americans rate the economy negatively, with a majority of those polled believing it to be in “poor” shape. Support of the U.S. war in Iraq is also down, with six in 10 Americans rejecting the administration’s argument that the conflict is an effective defense against terrorism.
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With just five days left before Democratic primary voters go to polls to decide whom they want to be their presidential nominee, Hillary Clinton of New York and Barack Obama of Illinois are locked in a battle that is too close to call, the latest Newsmax/Zogby telephone poll shows.
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By Joe Conason — It is hard to blame John McCain for mocking Barack Obama as an “elitist” following that silly remark about bitter folks who cling to guns and religion. Rarely does the Arizona senator—one of the wealthiest members of Washington’s most exclusive club—encounter such a tempting chance to masquerade as a populist.
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Flickr / caswell_tom
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According to a new L.A. Times/Bloomberg poll, the vast majority of Democratic voters in the next three primary battlegrounds want the government to bail out struggling homeowners. Most don’t seem to care that the Fed rescued Bear Stearns; they just want the same treatment.
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Flickr / Kevindooley
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By James Harris — Harvard scholar Linda Bilmes speaks about the book on the Iraq war’s costs that she wrote with Joseph Stiglitz. The two former Truthdiggers of the Week have been working hard to uncover even more hidden expenses for the war, which they estimate will cost the taxpayers and their children trillions of dollars.
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AP photo / Charlie Neibergall
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By Stanley Kutler — With the so-called scandal over Barack Obama’s “bitter” comment, the media have once again abandoned impartiality and become active participants in the race for the White House.
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By Eugene Robinson — Hillary “Shot-and-a-Beer” Clinton has given us the perfect illustration of what’s so insane about American politics: the philosophical dictum that could be summed up (with apologies to Descartes) as “I seem, therefore I am.”
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By E.J. Dionne, Jr. — The Democratic presidential candidates are doing a splendid job of helping John McCain get to the White House.
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Satire by Andy Borowitz —
Maybe what the economy needs is for George Bush to go to Disney World ... and stay there.
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We’ve all heard of Publishers Clearing House, but this is a whole new ballgame, people. Robert Greenwald’s Brave New Films team has come up with a game that offers each player the fictional (sigh) amount of $3 trillion, the same amount the Iraq war is projected to cost the U.S., and a whole virtual mall’s worth of fun “shopping” items to buy.
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White House / Sheahlah Craighead
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With the concession of his main rival, conservative media mogul Silvio Berlusconi is set to take up a third term as Italy’s prime minister. Although a divisive and controversial figure, Berlusconi offered “An affectionate kiss to all Italians” over the news.
Posted on Apr 14, 2008
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treehugger.com
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Following the string of economic crises across the globe, financial elites are planning to meet in Washington this weekend to address how to resolve the problems of global capitalism. Notably missing from the proceedings is any representative from the developing world.
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By Ellen Goodman — Renting the wombs of poor women in foreign countries has become a business, but is it a good business?
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Bloomberg.com
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The International Monetary Fund, the darling lending institution of neoliberal capitalists, believes that the U.S.‘s current mortgage crisis is dragging down the world economy. The IMF is predicting at least a two-year global economic downturn, led by the U.S. credit crunch, that also has a gambling chance of turning into a “global recession.”
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AP photos / left: Gautam Singh / right: Uwe Lein
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By Chris Hedges — The battle under way in America is not a battle between religion and science. It is a battle between religious and secular fundamentalists. It is a battle between two groups intoxicated with the utopian and magical belief that humankind can perfect itself and master its destiny.
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Flickr / Joe Crimmings Photography
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By Bill Boyarsky — Real politicians don’t quit. They are defeated, indicted, jailed, die or, in some jurisdictions, ousted by term limits. So don’t expect Hillary Clinton to surrender just yet.
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Hillary Clinton’s latest ad reprises her 3 a.m. theme, only this time she’s taking calls on the economy. The most interesting thing about this commercial is its target: not Barack Obama, who has just surpassed Clinton in one poll in Pennsylvania, but John McCain. Update: McCain responds.
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Dorothea Lange / FSA
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It’s looking that way for a growing number of Americans. Record home foreclosures, escalating unemployment and price hikes are hitting them in the gut, creating a record number—28 million—who are in need of food stamps to feed themselves and their families.
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Treasury Secretary Henry Paulson has announced what the media are calling a “massive overhaul” of America’s regulatory agencies, but columnist and liberal economist Paul Krugman isn’t impressed. Krugman doesn’t think the administration’s cosmetic solutions will mitigate our current economic crisis or prevent the next one.
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AP photo / Tsvangirayi Mukwazhi
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Results from Saturday’s watershed elections in Zimbabwe are still being tallied and analyzed, and while the country anxiously awaits the outcome, some are wondering whether the delay is due to careful counting methods or more troubling potential causes. Meanwhile, President Robert Mugabe is losing his grip on power or ready to claim victory—depending on which of Monday’s conflicting reports you read.
Posted on Mar 31, 2008
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AP photo / Reed Saxon
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By Stanley Kutler — With our economic and financial crises deepening, government insiders reportedly are debating whether we need to restore some regulation—or not. Given the state of things, we can expect further woes and no regulation.
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The three presidential contenders had a bit of a showdown Thursday over the economy. Barack Obama gave a major address in New York, while Hillary Clinton spoke in North Carolina. They criticized each other, as well as John McCain, who barked back.
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Both Hillary Clinton and Barack Obama gave major economic policy speeches Thursday, outlining specific proposals and highlighting John McCain’s relative weakness on the subject. Obama called for a boost in regulation and an additional $30 billion in stimulus while Clinton proposed a job retraining program.
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By Joe Conason — For years, District Attorney Robert Morgenthau has warned that the nexus of capitalism and criminality poses a serious threat to America. With Bear Stearns now in ruins, maybe we will listen to him.
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By E.J. Dionne, Jr. — What’s the matter with conservatism? Its problems start with the failure of George W. Bush’s presidency but they don’t end there.
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By Eugene Robinson — Four thousand. When U.S. military deaths in Iraq hit a round number, as happened Sunday, there’s usually a week or so of intense focus on the war—its bogus rationale, its nebulous aims, its awful consequences for the families of the dead. Not likely this time, though.
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Flickr / epicharmus
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A sense of gloom still hangs over the economy, but there was cause for celebration Monday. Home sales are up for the first time in months, the dollar has regained some ground against the euro, and Wall Street had a triple-digit day. So why aren’t investors smiling?
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Some Arab countries’ economies are getting a boost from the rise in oil prices, but you wouldn’t know it from the shortages of staples like bread— a major cause for concern in Egypt, where long lines and soaring costs are sparking serious unrest.
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A sharp jump in the number of Americans filing for unemployment has brought the four-week average to its highest level since the aftermath of Hurricane Katrina. Last week, 378,000 new claims were filed. Roughly 2.8 million workers currently receive unemployment benefits.
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By Marie Cocco — Back in 2006, the Iraq Study Group said that all U.S. combat brigades in Iraq should be out by now. They also warned that an escalation, or “surge,” “would not solve the fundamental cause of violence in Iraq.”
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By Ellen Goodman — The government spread out a nice, soft net to catch the collapsing financial firm Bear Stearns. But if you’re a little guy who gets in trouble, expect to meet up with a somewhat harder surface.
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By Joe Conason — John McCain says that when it comes to Iraq, Americans should look to the future, but that’s to be expected of such an enthusiastic supporter of the disaster.
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By Eugene Robinson — The Democratic presidential candidates squabble over real or imagined racial sensitivities, the Republican presidential candidate stages photo opportunities with the troops in Iraq, and meanwhile the financial system is coming apart at the seams.
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By E.J. Dionne, Jr. — Never do I want to hear again from my conservative friends about how brilliant capitalists are, how much they deserve their seven-figure salaries, and how government should keep its hands off the private economy.
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France 24
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Those hoping for better news about the state of the U.S. economy—not to mention the bigger picture—aren’t going to hear it from former Fed chair Alan Greenspan anytime soon, judging by his ominous forecast released Monday.
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The mortgage crisis has claimed another corporate victim. Bear Stearns, one of the largest financial institutions in the world, has been bought for a piddling $236 million. The company was valued at $3.5 billion just a few days ago, and $20 billion a little more than a year ago.
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AP photo / Gerald Herbert
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A new Zogby poll suggests that John McCain has capitalized on his rivals’ ongoing combat, beating both Hillary Clinton and Barack Obama in a hypothetical matchup. But Ralph Nader also did better than expected, with 5 to 6 percent of the vote, mostly from progressives and independents. Updated
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By Mark Dowie — How a few brave Americans took on a powerful company and the federal government to save the land they love.
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By David Sirota — In 1958, the GOP took a shellacking after the vice president used an anti-worker scheme in trying to win votes for his party. Now, right-wingers are resurrecting that failed strategy in Colorado, a key “swing” state.
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nymag.com
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The AFL-CIO isn’t going to wait around for the Democrats to pick a nominee before it starts campaigning against John McCain. The largest union in America plans to spend a record $53 million to make sure the next president isn’t a Republican.
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bloomberg.com
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Mitt Romney could be headed back to political prime time now that conservative heavyweights, including The Weekly Standard, are pushing him as John McCain’s best bet for vice president. Romney’s economic know-how, it is argued, along with his popularity with the Bush wing of the party, makes him a safe choice.
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AP photo / Haraz N. Ghankari
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President George W. Bush has often invited comparisons to Mad magazine antihero Alfred E. Neuman, and his latest comments regarding a potential recession in the U.S. aren’t helping him shake the “What, me worry?” tag line anytime soon.
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The short month of February was long on economic problems, as 63,000 U.S. jobs were lost over the 29 days. In other words, for those betting that a recession isn’t around the corner, the outlook is dim.
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By David Sirota — Reading articles about Hillary Clinton attacking NAFTA can lead you to believe The Onion has taken over America’s news bureaus.
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Something called the Campaign to Defend America has purchased a reported $1 million worth of air time in Ohio and Pennsylvania to run this ad, which connects John McCain to George W. Bush. Update
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AP photo / Charles Dharapak
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Republicans are starting to line up behind their nominee, including the president, who officially gave his blessing at the White House on Wednesday, along with an offer to help John McCain campaign. That couldn’t make Democrats happier, who long to depict McCain as what Howard Dean called “another out-of-touch Bush Republican.”
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about.com
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Hillary Clinton scored major victories Tuesday with three projected wins, including Ohio and Texas, which had been described by her campaign as must-win states. Barack Obama won the Vermont primary and kept it close in Texas.
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By Marie Cocco — Of all the reasons to be hopping mad, helplessly shaking your head or hoping beyond reasonable hope that somehow the Bush presidency will get better before it ends, blaming the president for failure to know the price of gas at the pump isn’t one of them.
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Truthdigger of the Week: Medea Benjamin
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