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By John Gray
$24.00
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By Orville Schell (Foreword), Wayne Miller
$35
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New York Times columnist and Nobel Prize-winning economist Paul Krugman drew on 20th century U.S. history to explain to Bill Moyers how a Washington that was willing to spend could end the present American depression.
Posted on Jan 15, 2013
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Mike Licht, NotionsCapital.com (CC BY 2.0)
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At the height of the financial crisis, The Guardian identified 25 bankers, economists, politicians and financial officials who helped bring about the worst economic crisis since the Great Depression. What are they up to now?
Posted on Aug 7, 2012
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nosha (CC BY-SA 2.0)
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By Noam Chomsky, TomDispatch —
After the first few years of the Great Depression there was a sense that “we’re gonna get out of it.” It’s quite different now. For many people in the United States, there’s a pervasive sense of hopelessness, sometimes despair. I think it’s quite new in American history. And it has an objective basis.
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By William Drozdiak —
In “After the Fall: The End of the European Dream and the Decline of a Continent,” Walter Laqueur explains how Europe’s success in constructing a harmonious community of states actually masked serious social, economic and political vulnerabilities that proved too fragile to bear the world’s most severe financial crisis since the Great Depression.
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withayou (CC-BY)
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From his seat in Congress, House Speaker John Boehner announced in mid-September that American business owners would continue to hold the nation’s wealth (and thus the public welfare) hostage until government granted them the “low-tax, deregulated world they wanted,” writes journalist and author Thomas Frank in Harper’s online. (more)
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Picture, if you will, the Great Depression. Unless you actually lived through it, or close enough, chances are your mind might conjure up images of bread lines, bleak Dust Bowl landscapes or hungry, huddled families, and they’re probably in black and white.
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AP / Thomas Watkins
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By Bill Boyarsky — While Occupy Wall Street and similar movements around the country take aim at financial institutions and their political cronies for taking the country into recession, let’s not forget those at the very bottom who were victims of economic depression long before the current collapse.
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The demise of the European Union has begun with riots; scholars afraid of repression are creating alternate Internets; meanwhile, the Occupy Wall Street protests are starting to get some traction with the mainstream. These discoveries and more after the jump.
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Flickr / Latente ? www.latente.it
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Economist and New York University professor Nouriel Roubini explains that globalization, reckless lending and borrowing, and the redirection of income and wealth from industries dependent upon human labor and well-being to those composed mainly of capital ... (more)
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AP / Morry Gash
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By Stanley Kutler — The tea-party-enabled Wisconsin Legislature is working overtime to protect its governor.
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Flickr / Mike Licht (CC-BY)
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By Moshe Adler — During the Great Depression, high rates of unemployment prevailed for 11 years. The experience of seeing a free market system drive itself into a rut that it cannot pull itself out of is nothing new. And we have long known the solution.
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AP / Charles Dharapak
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By Robert Scheer — Here we go again. When Bill Clinton suffered an electoral reversal after his first two years in office, he abruptly embraced the corporate money guys who had financed his congressional opposition in an effort to purchase a second term.
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AP / Louis Lanzano
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By Robert Scheer — Rejoice, the housing market is back. Sandy Weill just picked up a humdinger of a wine vineyard estate in Sonoma, Calif., for a record $31 million, so the foreclosure crisis must be over.
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Flickr / Susan E Adams (CC-BY-SA)
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By Dan Becker and James Gerstenzang —
The tea partyers issue dire warnings of the threat posed by government, but their movement ignores the threat from corporate America: pollution, dangerous products and banking practices that brought us the worst economic crash since the Great Depression.
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Remember the heady days before the Internet bubble went and burst, as bubbles tend to do? California’s Silicon Valley was one of the epicenters of that economic boom, but as this clip from Sunday’s “60 Minutes” illustrates, things look a little different there these days.
Posted on Oct 25, 2010
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AP / Ralph Wilson
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By Stanley Kutler — Mercifully, the midterm election cycle is nearing its end. Both parties, we learn, are planning their “postmortem assessments.” The Daily Beast’s recent headline is a sign of the times: “Why Obama Can’t Lose in 2012.” Plan ahead.
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By Robert Scheer — Since the collapse happened on the watch of President George W. Bush at the end of two full terms in office, many in the Democratic Party were only too eager to blame his administration.
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Flickr / aflcio
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By Bill Boyarsky — As President Barack Obama, speaking last week in Buffalo, N.Y., was assuring the country that “our economy is growing again,” the usual large number of unemployed lined up at a community aid center in Los Angeles for food, clothing, advice and help finding a job.
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Wikimedia Commons / Prolineserver
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Here we have one of those columns that might have initially been missed (even by those of us who blog fastidiously about such things) that bears repeating, or re-posting, as the case may be: We submit, for your consideration, Paul Krugman’s latest column. That is all.
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AP / Mark Lennihan
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Does the prospect of deepening economic meltdown and political disarray raise the specter of a social upheaval and, perhaps, the collapse of capitalism, the likes of which we haven’t seen since the Great Depression?
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Wikimedia Commons / United States Federal Reserve
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After heading up the Fed during the nation’s biggest economic catastrophe in decades, Federal Reserve Chairman Ben S. Bernanke will be nominated to continue his role for a second term, according to another top Obama adviser, David Axelrod.
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kc.frb.org
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On Sunday, Federal Reserve Chairman Ben Bernanke met the media, or at least PBS “NewsHour” anchor Jim Lehrer, along with some concerned citizens of Kansas City, Mo., to discuss how the Fed has dealt with the ongoing economic catastrophe over the past few months.
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Even though this CBS report seems to want to make a feel-good story out of this one, it’s more the stuff of nightmares, despite 90-year-old Ian Thiermann’s good-natured take on his fate. After being retired for 30 years, Thiermann discovered that he’d lost his entire retirement fund due to Bernie Madoff’s shenanigans, and now Thiermann is working for $10 an hour in a California supermarket.
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AP photo / Jose Luis Magana
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By Bill Boyarsky — Like many other people, I’d like to party all week when Barack Obama is sworn in as president. But this isn’t the year for it, not with unemployment rising and fear spreading through the land.
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AP photo / Lauren Victoria Burke
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Perhaps we should be more surprised than we are by the news that Treasury Secretary Henry Paulson and his DOT crew managed to sneak a handful of sentences into the approved bailout bill that amounted to a $150-billion “quiet windfall” for American banks, as The Washington Post put it.
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AP photo / Chris Carlson
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By Robert Scheer — Instead of running with the “European socialist” crowd, as John McCain has claimed, Barack Obama has turned to the same American “free market” elite that views government as merely a corporate subsidiary. Even within that group, however, there are serious splits, and the more enlightened side seems to be winning.
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On Sunday, The Washington Post ran an Op-Ed piece written by McCain campaign adviser Donald Luskin in which he argues that, despite “trouble spots in the economy,” recent comparisons between the present moment and the Great Depression are the product of “pessimists” and “politics.” Over to you, Alan Greenspan.
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U.S. Navy / Jordon R. Beesley
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By Chalmers Johnson — Since 1961, there has been too little serious study of, or discussion of, the origins of the military-industrial complex, how it has changed over time, how governmental secrecy has hidden it from oversight by members of Congress or attentive citizens, and how it degrades our constitutional structure of checks and balances.
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The Gray Lady publishes a slew of important and underreported stories its Saturday edition:
Two federal courts strike down the Partial Birth Abortion Act because it doesn’t have an exception for the life of the mother.
Yahoo and AOL are going to introduce digital postage stamps that companies can buy to ensure delivery of their e-mail.
Most Internet users have no idea how easy it is for courts to get ahold of their personal information.
The personal savings rate of Americans falls below zero for the first time since the Great Depression.
Now James Frey’s editor says that he, too, was fooled by the fabricating fabulist.
Posted on Feb 4, 2006
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