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Tag: Economy

End of a Catholic Commandment?

Catholics, who are quintessential swing voters and gave narrow but crucial support to President Bush in 2004, are drifting toward Barack Obama. And this time, some church leaders are suggesting that single-issue voting—such as on abortion—is by no means a Catholic commandment.

Posted on Oct 20, 2008 READ MORE


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Federal Reserve

Fed Chief Wants More Stimulation

Ben Bernanke doesn’t really care if you call it a recession or, in his words, “a very serious slowdown in the economy.” Whatever it is, the chairman of the Federal Reserve thinks a new stimulus package is needed to get those terrified Americans dipping into their mattresses and buying things again.

Posted on Oct 20, 2008 READ MORE



AP photo / Henny Ray Abrams

The Idiots Who Rule America

Our oligarchic class is incompetent at governing, managing the economy, coping with natural disasters, educating our young, handling foreign affairs, providing basic services like health care and safeguarding individual rights. They have no concept, thanks to the educations they have received, of the common good.

Posted on Oct 20, 2008 READ MORE



Flickr / soggydan / emrank

McCain Scares Kids for Halloween

John McCain’s robocalls, which are bombarding swing-state voters with the message that Barack Obama “worked closely with domestic terrorist Bill Ayers,” are reportedly scaring children who make the mistake of answering their phones. Sarah Palin, who may or may not realize she’s on a sinking ship, says she disapproves of the robocalls.

Posted on Oct 19, 2008 READ MORE


Terrifying









Posted on Oct 19, 2008 ENLARGE


Negative 2008









Posted on Oct 19, 2008 ENLARGE


Left, Right & Center

‘Left, Right & Center’: Looking Down the Final Stretch

No more presidential debates (at least for a couple months or so)! Who won the last one, Barack Obama or John McCain? Tony Blankley, Matt Miller and Truthdig’s own Robert Scheer size up the candidates and their campaigns and discuss the latest developments in the economic arena on this week’s “Left, Right & Center.”

Posted on Oct 17, 2008 WATCH & LISTEN


Signs of an Earthquake in Oregon

No Republican says aristocrat like Sen. Gordon Smith of Oregon. And no Senate election could more intensely shift economic politics than his state’s.

Posted on Oct 17, 2008 READ MORE


McCain Sounds Worse Than He Looks

Grouchiness, twitchiness and haughtiness didn’t help John McCain in Wednesday’s debate, but what he said hurt him more than how he said it.

Posted on Oct 17, 2008 READ MORE


McCain and Letterman

McCain to Letterman: ‘I Screwed Up’

When Sen. John McCain finally appeared on “Late Night” on Thursday, David Letterman didn’t let him forget that he had stood Letterman up last month. Later, McCain joked, “I haven’t had so much fun since my last interrogation.”

Posted on Oct 16, 2008 WATCH & LISTEN


Obama

Obama and McCain Roast Each Other With a Smile

After enduring many grueling weeks of campaigning and three tense debates, John McCain and Barack Obama turned up in tuxes for Thursday night’s Alfred E. Smith Memorial Foundation Dinner at the Waldorf-Astoria in New York to cut loose and try out some lighter material on a crowd ready to laugh, and they laughed as well—at themselves and (especially) at each other.

Posted on Oct 16, 2008 WATCH & LISTEN


U.S. Loses Its Grip on Europe

Military and economic disasters have caused Europeans and European governments to view the United States in a new, unflattering light.

Posted on Oct 16, 2008 READ MORE



commons.wikimedia.org

Brokers Gone Wild: Market Closes Up

The Dow gained 401.35 points Thursday but had volatile swings through most of the day. Investors, The Wall Street Journal reports, are still trying to figure out what stage of suck the economy is in.

Posted on Oct 16, 2008 READ MORE


Fixing the Economy Has to Start With Jobs

The last thing we need is another “economic stimulus” package. What we need is a jobs package. And we ought to start calling it that.

Posted on Oct 16, 2008 READ MORE


Bank Crisis
AP photo / Mary Altaffer

Finding a Way Out After the Bailout

Wall Street has yet to recover after the economic shocks of recent weeks. Why? Two problems. One we already know: The “plan,” even with revisions, is deeply flawed. The second problem has not been mentioned all that much because it’s pretty scary: Put simply, we have no idea what we’re doing.

Posted on Oct 15, 2008 READ MORE



commons.wikimedia.org

What Goes Up ... Dow Plummets 733

It seems like only a couple of days ago that the Dow jumped 936 points. The market went back to freaking everyone out on Wednesday, with a sobering drop of 733.08 points. Stimuli and bailouts aside, it appears that we’re in for a substantial recession.

Posted on Oct 15, 2008 READ MORE



AP photo / Rick Bowmer

Economy Trumps Race in Ohio

From the Southern California suburbs to Ohio’s Appalachia, places that have not been especially friendly to African-American candidates, Sen. Barack Obama seems to be convincing a substantial number of whites that their votes should be determined by their economic troubles rather than race.

Posted on Oct 15, 2008 READ MORE


Palin and McCain
AP photo / Gerald Herbert

The Hoover-Palin Ticket

And the winner is … Franklin Delano Roosevelt. Remember him—the great Democratic president who saved capitalism from the capitalists by reining in their exorbitant greed? Forget the Reagan Revolution heralding a new era of small government, which turned out to be nothing more than a fig leaf for legalized corporate crime. The hero of the hour is FDR.

Posted on Oct 14, 2008 READ MORE


Gordon Gekko
lasvegasvegas.com

Greed: Still Good?

What would Gordon Gekko, the ruthless corporate raider from Oliver Stone’s 1987 classic cautionary tale “Wall Street,” have to say about the current state of the American economy? Well, we just might find out.

Posted on Oct 14, 2008 READ MORE


Volcker
group30.org

Former Fed Chief: U.S. Already in a Recession

Former Federal Reserve Chairman Paul Volcker said Tuesday that the U.S. was already in a recession, despite the efforts of the U.S. government and other nations’ leaders to intervene. “I have seen a lot of crises but I have never seen anything quite like this one,” said Volcker, who headed up the Fed for eight years before Alan Greenspan took over in 1987.

Posted on Oct 14, 2008 READ MORE


McCain
Flickr / soggydan

McCain Announces Economic Plan

John McCain has laid out his plan for how he would help Americans recover from the recent shocks to the domestic and international markets. He took the action on Tuesday, a day later than he initially said he would and a day after Democratic presidential rival Barack Obama released his own economic plan—and McCain’s timing was not lost on the Obama campaign.

Posted on Oct 14, 2008 READ MORE


The GOP Identity Crisis

Can any Republican candidate claim with a straight face to represent the party of small government? For that matter, can any Republican candidate plausibly explain what the party is supposed to stand for these days?

Posted on Oct 13, 2008 READ MORE


Barack Obama
Flickr / Allison Harger

Obama’s New Deal

Barack Obama unveiled his $60-billion economic rescue plan on Monday and urged Washington not to wait for a new president to take up his proposals. The Obama plan includes tax breaks for companies that hire new workers, a short moratorium on foreclosures and, with an eye on job creation, federal financing for public works and infrastructure projects.

Posted on Oct 13, 2008 READ MORE


Kristol

McCain Campaign Spokeswoman Slams Kristol

You know it’s troubs when McCain campaign spokeswoman Nancy Pfotenhauer turns on The New York Times’ resident McCain campaign strategist, William Kristol—and on Fox News, no less—claiming he’s fallen for the Obama party line. Over to you, Bill.

Posted on Oct 13, 2008 WATCH & LISTEN



Collage: commons.wikimedia.org / senate.gov

McCain Changes His Tune

After Team McCain’s negative strategy over recent days seemed to hurt the Republican’s campaign more than help it, John McCain took a new tack on Monday, calling off the attack dogs—or at least reining them in a bit—during a speech in Virginia Beach, Va.

Posted on Oct 13, 2008 READ MORE



Flickr / BohPhoto

Obama Ahead by Double Digits

William Kristol was becoming apoplectic, Hillary Clinton was sounding optimistic, and the McCain campaign was being perhaps a tad unrealistic—or so read Monday’s political barometer as an ABC/Washington Post poll indicated that the Obama campaign had taken a 10-point lead in the presidential race.

Posted on Oct 13, 2008 READ MORE



AP photo / Gerald Herbert

America’s Political Cannibalism

It is no longer our economy but our democracy that is in peril. Financial collapses lead to political extremism. The rage bubbling up from our impoverished and disenfranchised working class, glimpsed at John McCain rallies, presages a looming and dangerous right-wing backlash.

Posted on Oct 13, 2008 READ MORE


McCain’s Fireside Chat









Posted on Oct 13, 2008 ENLARGE



Wikimedia Commons / Hk1992

Markets Warm to Euro Bailout Plan

Stock traders in Asia and Europe seemed to like the news that European governments will coordinate with one another as they throw cash at troubled banks. The euro zone plan was announced on the heels of similar British and American schemes.

Posted on Oct 12, 2008 READ MORE



Rosa Lowinger on Cuba Before Castro

Two new books resurrect the seductions and corruptions of pre-revolutionary Cuba.

Posted on Oct 10, 2008 READ MORE


This Is No Time for Specifics

Each campaign has given voters ample notice about the inclinations, temperaments, habits, philosophical leanings and advisers they would bring to the White House. That’s enough.

Posted on Oct 10, 2008 READ MORE


Welcome to the Third World, America

Here’s a question I’d like to ask Barack Obama and John McCain: Is the United States destined to look and feel increasingly like a “developing country”? Is this the way it’s going to be?

Posted on Oct 10, 2008 READ MORE


It’s Henry Paulson’s Move

Is Henry Paulson a crony communist or a businessman? The answer could be the difference between economic disaster and recovery.

Posted on Oct 10, 2008 READ MORE



news.bbc.co.uk

Dow Plummets as Debt Soars

After seven straight drops, the Dow landed at 8579.19 on Thursday, a year to the day after hitting a record of more than 14,000 points. The owners of the national debt clock in New York, meanwhile, announced they will add two digits to the board in order to display a quadrillion—because that’s where we’re headed.

Posted on Oct 9, 2008 READ MORE



White House / Shealah Craighead

Is Paulson Going Bank Shopping?

Treasury Secretary Henry Paulson, with much prodding from Democratic Sen. Charles Schumer, is thinking about using some of that $700 billion to buy ownership stakes in shaky banks. The scheme would ostensibly give taxpayers a share in the fortunes of the bailed-out institutions.

Posted on Oct 9, 2008 READ MORE


Obama

Obama Responds to McCain-Palin Attacks

During a sit-down interview with ABC’s Charlie Gibson that aired on Wednesday, Barack Obama talked about the economy and how he’d lead differently from President Bush before addressing the McCain-Palin campaign’s ramped-up attacks of late. “All these statements are made simply to try to score cheap political points,” Obama told Gibson.

Posted on Oct 8, 2008 WATCH & LISTEN


What McCain and Obama Don’t Know

Uncertainty is the backdrop for a presidential campaign whose last month is being conducted over the shakiest terrain. What we didn’t know yesterday, last week, last month suddenly reshapes the contours of our lives.

Posted on Oct 8, 2008 READ MORE


The Real Stars of the Debate

In the second presidential debate, the questioners seemed to understand better than either candidate that we are in the midst of a national emergency as grave and possibly more far-reaching than the terrorist attacks of Sept. 11, 2001.

Posted on Oct 8, 2008 READ MORE


Obama
AP photo / Madalyn Ruggiero

Obama Leads by 11

Democratic presidential candidate Barack Obama has pulled significantly ahead of Republican rival John McCain, taking an 11-point lead after Tuesday night’s presidential debate, according to the latest Gallup Poll.

Posted on Oct 8, 2008 READ MORE



Democrats as Big Brother?

A lobbying powerhouse with an emphatically pro-Republican political action committee is pounding Democratic Senate candidates for supporting legislation that would make it easier for workers to unionize. The ads portray Al Franken in Minnesota and Tom Allen of Maine as backing Big Brother-style surveillance of American workers.

Posted on Oct 8, 2008 READ MORE



starwoodhotels.com

AIG Execs Enjoy Sun and Fun on Your Dime

What’s $85 billion if you don’t get to spend it? Just days after taxpayers saved AIG from ruin, executives of the insurance giant spent $440,000 pampering themselves at the exclusive St. Regis resort in Monarch Beach, Calif.

Posted on Oct 8, 2008 READ MORE


Nashville debate

2008 Presidential Debates, Round Two

Tuesday night marked the second debate between John McCain and Barack Obama, moderated by NBC’s Tom Brokaw at Belmont University in Nashville, Tenn. While Brokaw struggled to stick to the script, the two candidates fielded questions about the current economic catastrophe and American foreign policy.

Posted on Oct 8, 2008 WATCH & LISTEN


Obama and McCain debate
AP photo / Charles Dharapak

Obama Wins in Nashville

As was the case in the first presidential debate, Barack Obama emerged from Tuesday night’s confrontation with John McCain in Nashville, Tenn., in command of the situation. The Democratic nominee looked calm, confident and presidential as he won their second contest.

Posted on Oct 7, 2008 READ MORE


Nowhere for McCain to Go

Tuesday night’s debate, a town-hall discussion dominated by economic questions, made it clear that John McCain’s effort to change the campaign’s focus to the culture wars of the 1960s is not going to work.

Posted on Oct 7, 2008 READ MORE


Republican Economic Policies Don’t Add Up

Many Americans believe, despite the current financial crisis, that Republicans are generally better at managing the economy. History tells a very different story.

Posted on Oct 6, 2008 READ MORE


Weapons of Mass Distraction

John McCain and Sarah Palin are going to try their best to make us talk about anything but the big issues facing our country, because most Americans think Barack Obama’s solutions are better.

Posted on Oct 6, 2008 READ MORE


Richard Fuld Jr.
World Economic Forum / Remy Steinegger

Lehman Bros. Paid Execs Millions as Company Tanked

On Monday, the House Oversight and Reform Committee took a look into the collapse of Lehman Brothers as part of a larger review of the factors leading to the current economic crisis, and it wasn’t a pretty sight. Judging by the committee’s account, leaders at Lehman Bros. disregarded key warnings of impending trouble and cut hefty checks for their fellow executives even as the firm teetered on the brink of disaster.

Posted on Oct 6, 2008 READ MORE



AP photo / Susan Walsh

Dennis Kucinich on the Democrats’ Bailout Betrayal

The passing of the $850-billion bailout pulled the plug on the New Deal. The Great Society is now gasping for air, mortally wounded, coughing up blood. It will not recover. It was murdered by the Democratic Party.

Posted on Oct 5, 2008 READ MORE



news.bbc.co.uk

Europe Catches Bailout Fever

European leaders decided against a joint bailout of the Continent’s financial system, but that hasn’t stopped individual governments from trying to save failing and financially shaky institutions. The German government, which has been highly critical of U.S. economic mismanagement, just backed a $68-billion deal to save one of its biggest banks.

Posted on Oct 5, 2008 READ MORE


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