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Love and Consequences

Love and Consequences

By Margaret B. Jones
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Tag: Economy

Kucinich
AP photo / Jim Cole

One True Voice on the Trail

Why isn’t Dennis Kucinich treated as a viable candidate? Because, Hedges argues, it’s all too easy for the comfortable to dismiss him.

Posted on Jan 7, 2008 READ MORE


The 2000 Election All Over Again

If we seemed doomed to refight the battles from eight years ago, perhaps it’s because Al Gore’s warnings about a Bush presidency turned out to be so prescient.

Posted on Jan 2, 2008 READ MORE


Fed Steps Into Mortgage Mess

The term “subprime mortgage” has certainly been in heavy rotation in recent months, and economic panic has spread as a result of lenders playing fast and loose with their home-lending criteria, causing chaos in the mortgage market.  Enter the Federal Reserve to try to undo some of the damage and prevent a recurrence.

Posted on Dec 18, 2007 READ MORE


supercapitalism

Benjamin Barber on ‘Supercapitalism’

Can an overheated market remedy an underachieving democracy?  Can the public interest be served by an economic engine in which corporate rivals use government to quash their competitors?  These and other questions are the subject of a provocative new book by Robert Reich, labor secretary under President Clinton.  Benjamin Barber, author of “Jihad vs. McWorld” and “Consumed,” takes a close look at Reich’s argument.

Posted on Dec 13, 2007 READ MORE


Climbing Out of the Oil Ditch

After a generation of self-indulgence, America is very close to taking a big step away from foreign oil and all of the environmental and security problems we’ve come to associate with that phrase. Now, if we can just keep the energy industry at bay… .

Posted on Dec 11, 2007 READ MORE


The Not So Almighty Dollar

Talk about how the almighty have fallen. The dollar is headed downhill faster than Bode Miller on a set of rocket skis. Think nose dive. Plummetville. Plunge City. Belly Floppo Rama. Recession is such an ugly word.

Posted on Dec 2, 2007 READ MORE


flags at the capital
AP photo / Gerald Herbert

America in the Time of Empire

All great empires and nations decay from within. By the time they hobble off the world stage, overrun by the hordes at the gates or vanishing quietly into the pages of history books, what made them successful and powerful no longer has relevance.

Posted on Nov 26, 2007 READ MORE


Land of Broken Dreams

We think of the United States as a land of unlimited possibility, not so much a classless society, but as a place where class is mutable—a place where brains, energy and ambition are what counts, not the circumstances of one’s birth. But three important new studies suggest that Horatio Alger doesn’t live here anymore.

Posted on Nov 22, 2007 READ MORE


What Would Jesus Buy?

“Rev. Billy” wants you to stop shopping. He’s the brainchild of an anti-consumerism activist and the subject of a new movie that takes a hard and entertaining look at our shopping-addicted culture just in time for “Black Friday.”

Posted on Nov 20, 2007 READ MORE


Money Problems

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Posted on Nov 20, 2007 READ MORE


central park
zdnet.com

The New British Invasion

With the dollar getting weaker all the time, the ailing housing market is getting a little relief from an unexpected source: foreigners. Brits in particular have been tempted by bargain homes in glamorous locales such as Manhattan, where one-third of all new condominiums are selling to foreign buyers.

Posted on Nov 18, 2007 READ MORE


Thanksgiving Blues

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Posted on Nov 16, 2007 READ MORE


Taj Mahal
news.bbc.co.uk

India Snubs the Dollar

The dollar has simply fallen too low for India, which will no longer accept the greenback at its many tourist sites, including the Taj Mahal. Tourism ministry officials said they had to move quickly in order to protect Indian revenues from the dollar’s free fall. Remember when the dollar was like gold in the developing world?

Posted on Nov 16, 2007 READ MORE


stock prices
AP photo / Katsumi Kasahara

Paul Krugman on the ‘Conscience of a Liberal’

The New York Times columnist brings his liberal conscience and economic expertise to bear on the housing crisis and sheds light on the dirty secret behind many political victories by conservatives: “The consistent source of [Republican] success has been race.”

Posted on Nov 16, 2007 READ MORE


What Are We Fighting For?

It’s time that we subject the Iraq war to the same cost-benefit analysis that we are called upon to impose on other government endeavors. We are supposed to repeal or revise domestic programs that don’t work. Shouldn’t a troubled war policy be treated the same way?

Posted on Nov 15, 2007 READ MORE


Take the Cost of the War and Double It

According to the calculations of congressional Democrats, the wars in Iraq and Afghanistan have already cost about $1.5 trillion. That’s nearly double the (already staggering) $804 billion that’s been appropriated or requested. Lawmakers arrived at the revised estimate by considering larger economic factors, including interest on debt and health care costs for wounded veterans.

Posted on Nov 13, 2007 READ MORE


It’s Still the Economy, Stupid

Sometime before the average price of gas topped the $3-a-gallon mark,  an inevitable moment arrived. The economy beat Iraq as the issue of most concern to Americans.

Posted on Nov 13, 2007 READ MORE


Al Gore
guardian.co.uk

Gore Puts Venture Money Where His Mouth Is

Al Gore’s Generation Investment Management has teamed up with venture capital heavyweight Kleiner Perkins Caufield & Byers to try to close the “significant gap between the capital needed and the capital currently deployed to create enduring solutions to the climate crisis.” The alliance will have a global focus and will seek to multiply by “many times” the $200 million already invested by KPCB in green projects.

Posted on Nov 12, 2007 READ MORE


Monopoly Money

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Posted on Nov 11, 2007 READ MORE


Driving the Masses Mad

Bush Derangement Syndrome is now a full-blown epidemic. George W. apparently has reduced more of his fellow citizens to sputtering rage than any other president since opinion polling began, with the possible exception of Nixon.

Posted on Nov 8, 2007 READ MORE


stock prices
AP photo / Katsumi Kasahara

Paul Krugman on the ‘Conscience of a Liberal’

New York Times columnist Paul Krugman brings his liberal conscience and economic expertise to bear on the housing crisis and sheds light on the dirty secret behind many political victories by conservatives: “The consistent source of [Republican] success has been race.”

Posted on Nov 6, 2007 READ MORE


Bill Maher

Maher Calls for a Middle-Class Uprising

The “Real Time” host takes aim at the über-rich, as well as the disadvantaged who vote against their own economic self-interests, because “In America it’s not the haves and have nots, it’s the haves and been hads.”

Posted on Nov 4, 2007 READ MORE


Rich Government, Poor People

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Posted on Nov 2, 2007 READ MORE


The Rise and Fall of Stan O’Neal

It’s not surprising in the cutthroat world of Wall Street to see a big-time CEO such as Stanley O’Neal float out of the boardroom with a golden parachute. What is significant is that this grandson of a slave managed to become one of the “Masters of the Universe” in the first place.

Posted on Oct 30, 2007 READ MORE


$2.4 Trillion to Keep the Wars Going

The Congressional Budget Office has estimated that the wars in Iraq and Afghanistan could cost $2.4 trillion over the next 10 years, a figure that includes interest for putting war costs on the proverbial credit card. To date, the two conflicts have cost more (adjusted for inflation) than the Korean and Vietnam wars combined.

Posted on Oct 26, 2007 READ MORE


Hold Politicians’ Feet to the Fire

Fires rage through Southern California. Massive rainstorms drench New Orleans. The Southeast is in the midst of what could be the worst drought on record there. Atlanta could run out of water. What links these crises? Global warming.

Posted on Oct 23, 2007 READ MORE


propaganda poster
iiichan.net

China: Democracy Isn’t for Us

China plans to stick with the economic and political reforms that have brought prestige, wealth and environmental catastrophe to the country, but don’t expect Beijing to turn its back on the Communist Party completely. As the official spokesman of the 17th party congress put it: “We will never copy the Western model of political system.”

Posted on Oct 14, 2007 READ MORE


Bush Gets Tightfisted With Sick Kids

To say that George W. Bush spends money like a drunken sailor is to insult every gin-soaked patron of every dockside dive in every dubious port of call.

Posted on Oct 5, 2007 READ MORE


Blue-Collar Challenge for Democrats

The GM-UAW labor contract could prove to be a victory of innovative thinking in the private sector.  Now politicians should be clear on how they would attack the deepening problems that confront working people.

Posted on Sep 28, 2007 READ MORE


Greenspan’s Legacy

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Posted on Sep 21, 2007 READ MORE


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


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