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Tag: Economy

Bush

Bush Spotty on Economics, Grades

Anyone considering a bid for the presidency these days should keep records of their college (and, to be extra-safe, high school) report cards handy, judging by President Bush’s take on the state of the nation’s economy and the relation of that topic to his own educational history.

Posted on Sep 20, 2007 READ MORE


Petraeus and Crocker
AP Photo / Gerald Herbert

The General Lies

Of course Gen. David Petraeus predicts success in the Iraq war. What wonders couldn’t generals achieve with more troops and more time? The battle is always going well until it is lost, and then they blame defeat on the politicians and the public.

Posted on Sep 11, 2007 READ MORE


Investor Confidence

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Posted on Sep 9, 2007 READ MORE


Free Market Madness

With Labor Day approaching, it must not go unnoticed that Angelo Mozilo, chief executive of Countrywide Financial—the company that has helped drive world markets into turmoil with its lending—raked in $42.9 million last year. The Nobel laureate Harold Varmus, chief executive of the Memorial Sloan-Kettering Cancer Center, was paid $2.5 million.

Posted on Aug 30, 2007 READ MORE


Home Prices Plummet

If you’re caught up financially in the housing bubble (who isn’t these days?), you might want to skip this item. Home prices have fallen by 3.2 percent—the sharpest drop in 20 years, while the median price for homes has gone down for the 12th consecutive month—another record. That’s not good news for a market eager to return to the good ol’ days of easy loans and overpriced homes.

Posted on Aug 28, 2007 READ MORE


Only the Little People Pay Taxes

The Democratic candidates have paid much attention to the president’s horrendous foreign policy, but what of his tax cuts, which have crippled the treasury for the sake of the yachting class?

Posted on Aug 23, 2007 READ MORE


Politics Down Under

One of George Bush’s staunchest allies in the war is facing stiff competition at home. Australian Prime Minister John Howard is currently losing in the polls to a dynamic opponent in a political battle that could foreshadow the American election.

Posted on Aug 21, 2007 READ MORE


One-Trick Elephant

The corpse has a pulse. Or at least the Bush White House and congressional Republicans are counting on the predictable thump, thump, thump about taxes to resuscitate themselves.

Posted on Aug 16, 2007 READ MORE


Domino Theory

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Posted on Aug 14, 2007 READ MORE


dolphin
time.com

Yangtze River Dolphin, We Hardly Knew You

If you’ve been putting off that trip to see China’s “goddess of the Yangtze,” you’ve waited too long. Scientists believe the human-sized dolphin to be the first aquatic mammal species to go extinct in half a century, a victim of China’s economic growth.

Posted on Aug 10, 2007 READ MORE


bush
AP Photo / Pablo Martinez Monsivais

Bush Approval Rating Plummets to 25%

As more members of Congress from both sides of the aisle register their dissatisfaction with President Bush’s leadership, their sentiments appear to be shared by the public—as evidenced by the results of a new survey by the American Research Group, which found that 71 percent of Americans “disapprove of the way George W. Bush is handling his job as president.”

Posted on Jul 23, 2007 READ MORE


Give Moms Their Due—They’ve Earned It

The “mommy wars” are a sad distraction from the rampant unabashed discrimination against working mothers. A recent study showed that just dropping the PTA bomb was enough to send employers into a paranoid mom-bashing tizzy.

Posted on May 10, 2007 READ MORE


The High Cost of Ignoring Poverty

Republicans once preached compassion, but then went off to war. Democrats waged a war on poverty, but then lost some elections. They decided the middle class is where it’s at.

Posted on May 4, 2007 READ MORE


Stephen Colbert

Stephen Colbert Endorses Child Labor

The pseudo-pundit argues that the best way to leave no children behind is to put them to work.

Posted on Apr 6, 2007 READ MORE


‘Super Union’ Merger in the Works

Britain’s biggest union will meet with the United Steel Workers, a North American organization, to discuss the possibility of a merger. The resulting international mega-union would be one of the largest in the world. The head of the British group has previously expressed a desire to form “a single global trade union movement capable of challenging the might of multinationals.”

Posted on Apr 5, 2007 READ MORE


Ahmadinejad
news.bbc.co.uk

Iran’s Trump Card

Evidence of Iran’s influence over the global economy appeared Wednesday as the oil-rich nation agreed to release 15 British captives and petroleum prices consequently fell. If a relatively minor diplomatic dispute can perturb investors, imagine how invading or bombing Iran would affect global markets.

Posted on Apr 4, 2007 READ MORE


night vision
inhs.info

Defense Contractor Jeopardized U.S. Soldiers

ITT, the premier night vision equipment supplier to the U.S. military, will pay $100 million in fines for violating the Arms Exports Control Act by sending sensitive information to China, Singapore and Britain without permission. The U.S. attorney in charge of the case said American soldiers were the “principal victims of ITT’s crimes.”

Posted on Mar 27, 2007 READ MORE


Israelis Call Off General Strike

Some 400,000 Israeli workers launched a general strike over unpaid wages that threatened to shut down the nation’s economy. Needless to say, this isn’t good news for Prime Minister Ehud Olmert, whose popularity is down to 3 percent. Update: The eight-hour strike, which brought much of the country to a standstill, was called off after the labor union and the Finance Ministry came to a compromise.

Posted on Mar 21, 2007 READ MORE


Dubai
smartstays.com

Halliburton Relocates to Dubai

Oil giant Halliburton has decided to move its headquarters to the United Arab Emirates in order to better exploit Mideast opportunities. The controversial company has had much success in the region, with no-bid contracts in Iraq helping it pull in $22.6 billion in global revenues in 2006.

Posted on Mar 11, 2007 READ MORE


airport checkpoint
howstuffworks.com

Bill Would Let Airport Screeners Unionize

An anti-terrorism bill making its way through the Senate would allow airport screeners to unionize. Republicans in Congress, ever the friends of working men and women, have fought against the provision, arguing that a screener union would threaten security and safety.

Posted on Mar 6, 2007 READ MORE


Home Foreclosures on the Rise

As interest rates continue to spiral out of control for many high-risk borrowers, the number of home foreclosures around the country is steadily going up. There isn’t much good news for the opportunistic lenders either—more than 20 mortgage companies have already gone bankrupt.

Posted on Mar 5, 2007 READ MORE


family
washingtonpost.com

Married With Children in the Minority

Fewer than a quarter of American households contain a married couple with children, down from half in 1960. While the numbers are lower across the board, the nuclear family appears to have become a luxury, with wealthier people far more likely to marry before having children.

Posted on Mar 4, 2007 READ MORE


Powell: We’ve Got ‘Em by the Tail

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Posted on Mar 2, 2007 READ MORE


Greed by Any Other Name

Opponents of a new law that would make it easier to form unions, including the president and some Republicans in Congress, have found a clever if shameless method of concealing their loyalty to corporate greed.

Posted on Mar 1, 2007 READ MORE


Despondent man
news.yahoo.com

Worst Stock Market Slide Since 9/11

The stock market Tuesday had its worst day since 9/11 as investors around the world began to lose faith in the U.S. economy. The Dow fell by 4.3 percent, and S&P estimated total losses at $632 billion. The development came only a day after Alan Greenspan warned of a potential recession.

Posted on Feb 27, 2007 READ MORE


Starbucks Feels the Strain of World Domination

In a memo distributed to top executives, Starbucks’ chairman warned that rapid expansion had unfortunately contributed to the “dilution” and “commoditization of the Starbucks experience.” Howard Schultz charmingly went on to lament specific examples of the company’s “cookie cutter” problem, but then concluded the letter in a manner one would expect from a Starbucks executive: “This must be eradicated.”

Posted on Feb 27, 2007 READ MORE


urstromtaler
bbc.co.uk

Euro, Meet Urstromtaler

Regional currencies like the Urstromtaler have been springing up around Germany. Advocates hope that the alternate currencies will help to stimulate sagging local economies, support small businesses and encourage a sense of community.

Posted on Feb 6, 2007 READ MORE


The Budget Speaks Louder Than Pandering

Although President Bush recently feigned interest in income inequality and the deficit, his whopper of a budget makes it clear that his heart is still with his base: the haves and the have-mores.

Posted on Feb 6, 2007 READ MORE


piggy bank
astoriafederal.com

Americans Prefer Swiping to Saving

The annual savings rate dropped to the lowest level in 74 years, the Commerce Department has reported. On average, Americans saved a “negative 1 percent” in 2006, meaning people not only didn’t save but dipped into their savings and borrowed in order to spend more than their income.

Posted on Feb 1, 2007 READ MORE


Businesses Fight Over Minimum-Wage Law

The business community is divided over minimum-wage legislation making its way through the Senate. While small businesses are celebrating the tax incentives included in the bill, major corporations are frustrated by the Democrats’ requirement that every new tax break be matched by either a tax increase or a closed loophole.

Posted on Jan 30, 2007 READ MORE


skin shade
original: booster.co.il / alteration by Peter Scheer

Lighter Skin Pays Off for Immigrants in U.S.

A new study of thousands of immigrants found that those with lighter skin earned more money than immigrants of similar background whose skin was darker. “On average, being one shade lighter has about the same effect as having an additional year of education,” the study’s author said.

Posted on Jan 26, 2007 READ MORE


Jim Webb

Democrats’ Response to State of the Union: ‘We Will Be Showing Him the Way’

During his response to President Bush’s State of the Union address, Sen. Jim Webb (shown above with congressional leaders Sen. Harry Reid and Rep. Nancy Pelosi) referred to the crises of division and war faced by two of history’s better Republican presidents, Teddy Roosevelt and Dwight Eisenhower, and then issued an ultimatum to the current occupant of the White House. Watch it.

Posted on Jan 23, 2007 READ MORE


Marie Cocco: Senators Hijack Minimum-Wage Increase

Senate Democrats and Republicans have shamelessly joined in a bipartisan effort to pad the well-off at the expense of the working poor.

Posted on Jan 18, 2007 READ MORE


Chavez
nytimes.com

Chavez Terrifies Corporations

Hugo Chavez announced plans on Monday to nationalize companies in Venezuela’s telecommunications and power industries, saying: “All that was privatized, let it be nationalized.” The recently re-elected president has ramped up efforts to transform Venezuela into a socialist society, while at the same time consolidating his power.

Posted on Jan 9, 2007 READ MORE


Toyota Prius
autointell.de

Save Money and the Planet at the Same Time

The higher cost of hybrid cars is worth it in the long run, according to a comprehensive new study. When considering not just fuel economy but insurance, maintenance, depreciation and other factors, a Toyota Prius owner can expect to save $13,408 over five years, compared with a non-hybrid in the same class.

Posted on Jan 8, 2007 READ MORE


Powell: Who’s the Greediest of Them All?

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Posted on Jan 5, 2007 READ MORE


Bush Flags Down Balanced Budget Bandwagon

The same George W. Bush who presided over record deficits and never vetoed a spending bill made an effort on Wednesday to co-opt the Democrats’ goal of balancing the budget by 2012. Exactly how he’ll reconcile that aim with making his tax cuts permanent remains a mystery, although Sen. Kent Conrad, D-N.D., has an idea: “Talk is cheap.”

Posted on Jan 4, 2007 READ MORE


Edwards

Edwards on the Issues

Democrat John Edwards came out swinging on Friday’s “Hardball,” taking a swipe at the president, the war, the economy and even civic pride. But how will John Kerry’s former running mate fare against principled Dennis Kucinich or the Clinbama juggernaut that’s been gobbling up all the fund-raisers and media coverage it can find?
Full Disclosure: Edwards is a Truthdig advertiser.

Posted on Jan 2, 2007 READ MORE


Lumbergh
webpages.charter.net

Trouble With Authority

According to a new study by researchers at Florida State University, many Americans disapprove of their boss’ behavior. Twenty-three percent said their superiors blamed others to protect themselves while 31 percent reported getting the silent treatment.

Posted on Jan 2, 2007 READ MORE


John Roberts
law.com

Chief Justice Wants More Money

Chief Justice John Roberts made judicial pay the sole focus of his annual report, calling for a “substantial salary increase” for federal judges. Federal district judges currently earn the same amount as members of Congress—$165,200 a year.

Posted on Jan 1, 2007 READ MORE


Why Fight It?

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Posted on Dec 30, 2006 READ MORE


Golden Gate
mikelevin.com

Golden State’s Green Law

California’s Global Warming Solutions Act requires the state to cut emissions to 80 percent below 1990 levels by 2050. Industrialists and environmentalists alike are watching intently as the world’s seventh-largest economy prepares to meet that goal—assuming the landmark law survives numerous court challenges.

Posted on Dec 25, 2006 READ MORE


Most Voters Disapprove of Iraq, Want Troops Out

ENTER_ALT_TEXT The majority of voters disapprove of the war in Iraq ... “and believe the U.S. should withdraw some or all troops,” according to New York Times exit polls. The economy was the No. 1 concern, followed closely by terrorism and the Iraq war. In congressional decisions, corruption and scandal were also highly important.

Posted on Nov 7, 2006 READ MORE


Molly Ivins: It’s Good to Be the Richest of the Rich

Bush is going to spend the next few weeks boasting about his success with the economy—i.e. transferring massive amounts of wealth from the poor and middle class to America’s super-rich.

Posted on Oct 23, 2006 READ MORE


WEF Report
World Economic Forum

U.S. Economy Devalued

The World Economic Forum has demoted the United States in its ranking of economic competitiveness, explaining that spiraling debt and persistent budget shortfalls forced the downgrade.  Switzerland now holds the top spot, followed by much of Scandinavia.

Posted on Sep 26, 2006 READ MORE


Marie Cocco: The Pretense About Jobs

When it pays better to be old and retired than young and working, we can no longer indulge Bush’s fantasy that the economy is on the right track.

Posted on Sep 5, 2006 READ MORE


Housing Bubble Burst

Pop! Housing Bubble Burst is Real, and Consequential

Economist and N.Y. Times columnist Paul Krugman writes that the downturn in the housing market is “a recipe for a major bust, not a soft landing,” and that it will likely drag the entire economy down with it. As evidence, check out this Cincinnati Enquirer article about consumers tightening their belts in the face of the housing slump and high gas prices.

Posted on Aug 28, 2006 READ MORE


Don’t Take Any More Money Out of Your House

The cooling of the U.S. housing market has begun to pull down the entire economy, just as experts had been predicting for several years now.
This was inevitable after the ludicrously overheated highs of the last few years, and we can only hope it’s going to be a slow leak.

Posted on Jul 30, 2006 READ MORE


Jobs Report Indicates Economic Cool Down

Weak employment gains in May (only 75,000 net new jobs) may be a sign of a faltering economy. According to NYT: “Anything below about 150,000 net new jobs a month is regarded as too slow to keep up with population growth, so in effect, workers are losing ground.” (story | job report)

Posted on Jun 2, 2006 READ MORE


approval polls
From the N.Y. Times

Bush at New Low in N.Y. Times/CBS Poll

Bush’s 31% rating (which echoes a USA Today/Gallup poll) equals the low-water mark of his father’s presidency, and is the third-lowest approval rating of any president in the last 50 years.

Posted on May 9, 2006 READ MORE


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