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Goat Song

By Brad Kessler
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Tag: Economy

The Folks Who Brought You Iraq

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.

Posted on Mar 20, 2008 READ MORE


The Race to Captain a Sinking Ship

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.

Posted on Mar 18, 2008 READ MORE


Be Careful What You Wish For

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.

Posted on Mar 18, 2008 READ MORE


Greenspan
France 24

Greenspan: Dark Days Ahead for the Global Economy

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.

Posted on Mar 17, 2008 READ MORE


Finance Giant Goes for Peanuts

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.

Posted on Mar 17, 2008 READ MORE


McCain
AP photo / Gerald Herbert

McCain Leads and Nader Surprises in Poll

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

Posted on Mar 16, 2008 READ MORE


book cover

Mark Dowie on Michael Shnayerson’s ‘Coal River’

How a few brave Americans took on a powerful company and the federal government to save the land they love.

Posted on Mar 13, 2008 READ MORE


Remembering What Nixon Learned

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.

Posted on Mar 13, 2008 READ MORE


McCain
nymag.com

AFL-CIO Eager to Hit McCain in $53-Million Drive

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.

Posted on Mar 11, 2008 READ MORE


Romney
bloomberg.com

Welcome Back, Mitt?

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.

Posted on Mar 10, 2008 READ MORE


Bush
AP photo / Haraz N. Ghankari

Recession? What Recession?

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.

Posted on Mar 7, 2008 READ MORE


U.S. Job Loss Highest in 5 Years

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.

Posted on Mar 7, 2008 READ MORE


Hope in the Time of NAFTA

Reading articles about Hillary Clinton attacking NAFTA can lead you to believe The Onion has taken over America’s news bureaus.

Posted on Mar 6, 2008 READ MORE


anti-McCain commercial

Anti-McCain Ad Surfaces in Battlegrounds

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

Posted on Mar 5, 2008 READ MORE


Bush and McCain
AP photo / Charles Dharapak

Bush Backs McCain

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.”

Posted on Mar 5, 2008 READ MORE


Obama and Clinton
about.com

Clinton Holds the Line

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.

Posted on Mar 4, 2008 READ MORE


Bush’s Gas Gaffe

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.

Posted on Mar 3, 2008 READ MORE


Slowdown

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Posted on Mar 2, 2008 READ MORE


A Kind Word for the Media

If you’re among those who believe the news media have focused too much on the presidential horse race and the personalities of the candidates—and not enough on vital issues of state—let me submit that you’re wrong.

Posted on Feb 28, 2008 READ MORE


farm
international.wi.gov

Farm Bill Brings the Bacon

What has the power to unite progressive Democrats and conservative Republicans? According to a compelling article in the San Francisco Chronicle, agribusiness is having its way in Congress, even getting Democrats to cut food stamps to make room for subsidies.

Posted on Feb 28, 2008 READ MORE


The Price of Oil

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Posted on Feb 27, 2008 READ MORE


Gibney
Truthdig

Alex Gibney in Conversation With Robert Scheer

Truthdig Editor Robert Scheer interviews documentarian Alex Gibney about his 2008 Academy Award-winning documentary, “Taxi to the Dark Side,” a compelling examination of the circumstances that led Americans to commit torture.

Posted on Feb 24, 2008 READ MORE


Wellstone Would Be Smiling

If you want to talk about candidates borrowing from each other, consider how much Hillary Clinton and Barack Obama are taking on loan from the late Sen. Paul Wellstone, the affable populist killed in a plane crash shortly before the 2002 election.

Posted on Feb 22, 2008 READ MORE


A Trade Transformation

When it came to sex, Bill Clinton made us debate the definition of “is.” Now, when it comes to economics, Hillary Clinton wants to debate the definition of “long,” claiming this week in Ohio that “I’ve long been a critic of the shortcomings of NAFTA.”

Posted on Feb 22, 2008 READ MORE


Fed Forecasts Slow Growth in 2008

Officials at the Federal Reserve are running out of creative ways to stave off a recession and expect the U.S. economy to slow to a crawl in 2008, with a growth rate of only 1.3 to 2 percent over the year.

Posted on Feb 20, 2008 READ MORE


McCain’s Losing Message

John McCain has the advantage of getting to run right away. Too bad he’s campaigning on failed policies and bad ideas.

Posted on Feb 19, 2008 READ MORE


A ‘Challenge’ Worth Challenging

The boilerplate in a candidate’s speeches gets little attention because words used over and over never constitute “news.” But one of John McCain’s favorite lines—his declaration that “the transcendent challenge of the 21st century is radical Islamic extremists,” or, as he sometimes says it, “extremism”—could define the 2008 election.

Posted on Feb 18, 2008 READ MORE


Dead Money Walking

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Posted on Feb 17, 2008 READ MORE


Economy: The Big Question

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Posted on Feb 12, 2008 READ MORE


A Conflict of Conscience

As they prepare to vote, thousands of Virginia Democrats are struggling to decide between two able candidates. Many of those will not make that decision until they have ballots in their hands.

Posted on Feb 11, 2008 READ MORE


There’s a Republican Under My Bed

It is insane to waste time and energy worrying that somewhere, doubtless in a high-tech subterranean lair, Republican masterminds are cackling over their diabolical plot: The use of reverse psychology to lure unsuspecting Democrats into nominating Barack Obama, an innocent lamb who will be chewed up by the attack machine in the fall. Mwa-ha-ha-ha-ha!

Posted on Feb 11, 2008 READ MORE


The Democrats’ Class War

For all the hype about generational and gender wars in the 2008 Democratic presidential primary, we have a class war on our hands. And incredibly, corporate America’s preferred candidate is winning the poorer “us” versus the wealthier “them.”

Posted on Feb 7, 2008 READ MORE


Clinton’s Pragmatic Appeal

Kitchen-table worries trumped even the charisma of Camelot. This theme has sounded again and again since the Democratic primary contests began, yet neither the national media nor, apparently, the Obama campaign can hear it.

Posted on Feb 6, 2008 READ MORE


The Ups and Downs of Electability

Now that the presidential field has been winnowed to four—barring a miraculous return by one of the contestants recently voted off the island—the new national pastime is gaming the electability factor.

Posted on Jan 31, 2008 READ MORE


Ten Months Too Long

Bush may be a lame duck, but he’s also a president who has shown an unparalleled capacity to blow it.

Posted on Jan 31, 2008 READ MORE


FBI to Investigate Mortgage Crisis

The FBI has announced an investigation into the practices of more than a dozen companies related to the subprime mortgage crisis that has destabilized the American and global economies. The Securities and Exchange Commission has already launched investigations of its own, and though it’s nice to see the authorities crack down on improper practices, it would be nice to have some oversight before there was a crisis.

Posted on Jan 29, 2008 READ MORE


Bush Goes Out With a Thud

George W. Bush, the president who lied America into a war that will end up costing trillions of dollars, scolded the Democratic-controlled Congress in his final State of the Union address on Monday for undermining “the people’s trust in their government” with too many pet projects. Now that’s chutzpah, coming from a man who never met a spending bill he didn’t like unless it had to do with stem cells and sick children.

Posted on Jan 29, 2008 READ MORE


An Economic Bridge to Nowhere

House Republicans were able to keep an extension of unemployment benefits out of the recently announced stimulus package, which is too bad, since it’s one measure that would actually help the ailing economy.

Posted on Jan 28, 2008 READ MORE


Sorry State of the Union

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Posted on Jan 28, 2008 READ MORE


Economy Takes Priority in Bush’s Last State of the Union Speech

Sometimes it’s useful to let a story’s own lead speak for itself. Take, for example, the doozy of a question that opens Sheryl Gay Stolberg’s New York Times article about Bush’s economic focus in Monday’s State of the Union address: “Will George W. Bush be remembered as the president who lost the economy while trying to win a war?”

Posted on Jan 27, 2008 READ MORE


Kerviel
Societe Generale

The Man Who Lost $7.2 Billion

How did a 31-year-old low-level bank trader with limited access lose five times as much money as the worst rogue trader ever? That’s the question European authorities and Societe Generale, France’s second-largest bank, are trying to answer.

Posted on Jan 25, 2008 READ MORE


book cover

Chalmers Johnson on the Myth of Free Trade

A powerful new book by a young South Korean-born economist at Cambridge University provides a compelling critique of the contradictions and hypocrisies of globalization and neoliberalism. The perfect antidote to the nostrums of Thomas Friedman.

Posted on Jan 24, 2008 READ MORE


The Stimulus Swindle

Stimulus—you’ve probably heard this nebulous, scientific-sounding word this week. Every politician suddenly wants economic “stimulus,” and wants you to think this “stimulus” is unequivocally good.

Posted on Jan 24, 2008 READ MORE


State of the Union

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Posted on Jan 24, 2008 READ MORE


That Dismal Democratic Debate

Supporters of one Democratic candidate or another may insist that their man or woman won last Monday’s debate in South Carolina, but in their hearts most viewers could only have been disappointed by its childish tenor and puerile content.

Posted on Jan 23, 2008 READ MORE


Too Little Too Late

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Posted on Jan 23, 2008 READ MORE


Ignoring Our Economic Achilles’ Heel

While the president and Congress consider a cure for the Bush economy, they should look to the root of the problem: stagnant incomes.

Posted on Jan 22, 2008 READ MORE



news.bbc.co.uk

World Markets Dive Amid U.S. Economy Fears

Stock markets across the world Monday suffered the worst losses since Sept. 11, 2001. The drop prompted analysts to theorize that investors have major doubts about the ability of the proposed stimulus package to mend the American economy.

Posted on Jan 21, 2008 READ MORE


dollar
brokerforyou.com

Bush Plans Economic Intervention

What to do about the slumping U.S. economy? President Bush may disagree with congressional Democrats on dozens of issues, but he seems to agree with their call for some kind of temporary stimulus measure to be implemented as soon as possible. Bush’s potential bailout plan will likely focus on income tax rebates to inspire Americans to go out and spend for their country.

Posted on Jan 18, 2008 READ MORE


NYSE
AP photo / Richard Drew

Dow Drops Over 300 Points

Winter 2008 is shaping up to be a gloomy season for the American economy, with mounting concerns over subprime mortgage prices and a plunging stock market.  Thursday was a particularly dreary day on Wall Street, with the Dow Jones industrial average down 307 points and the Standard & Poor’s 500 falling almost 3 percent.

Posted on Jan 17, 2008 READ MORE


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