Economy
by
Dave Lindorff, thiscantbehappening.net | 11.27.2008
Does Anybody Else Think Getting America Shopping Again is Crazy Talk?
By Dave Lindorff
I was listening to Robert Reich, once the left end of the spectrum in the Clinton cabinet, talking with CNN’s Wolf Blitzer a few days ago, and Reich, who has in the past sometimes made sense, was talking about how Americans’ incomes had fallen over the last eight years of the Bush/Cheney administration and that it was necessary to get their incomes back on an upward trend, so that they could “start shopping again.”
by
Dave Lindorff, thiscantbehappening.net | 11.25.2008
The point is, however, there are more cost-effective ways to help out workers in failing businesses than to have the government simply subsidize the continued operation of enterprises that have been destroyed by management. In truth, all the talk in congress and in the Obama camp about rescuing jobs is just a cover for bailouts that are really aimed at rescuing managers and investors, not workers.
Idiots and Bailouts
By Dave Lindorff
It’s a safe bet that within the next several months, Congress will vote to bail out General Motors. It will be a colossal boondoggle involving, probably, upwards of $50 billion when it’s through, and it will fail in the end.
The reason is before our eyes. This bloated megacorporation is being run by idiots.
by
Mumia Abu-Jamal | 11.25.2008
Driven by headlines of gloom and doom, spooked by the fear mongers of Wall Street, the White House and Congress rushed to send bales of bucks to banks -- many the very institutions that manufactured this mess....It was never designed to 'save the economy!' It was designed to do exactly what it did -transfer vast amounts of money out of the Treasury and into the banks.
'Bailing Out My Boys'
[col. writ.
by
redphilly | 11.20.2008
No Cut Backs in City Services!
Keep Our Libraries Open!
by
trupeace4all | 11.19.2008
Why are we continuing to let the government bail out a failing business that is misusing taxpayer money? Surely there are independently owned businesses, and even individuals, that could put that money to far better use.
What is up with AIG? The taxpayers, by way of the government and without being asked, have given AIG more than $122 Billion in funds (the amount is actually said to be more like $152 Billion) to keep the failing insurance giant afloat, and yet AIG cannot seem to tighten its belt. American Insurance Group, a company originally founded in China, has been caught spending hundreds of thousands of dollars in perks for executive, top producers and independent advisor retreats since its taxpayer bailout.
by
Mumia Abu-Jamal | 11.17.2008
The present economic crisis, born of unmitigated greed, while terrifying and disruptive in its impact, is also a tremendous opportunity for profit-taking as stocks fall, and corporations are able to be acquired for a song.
When the Dragons Return Home
[col. writ.
by
Mumia Abu-Jamal | 11.14.2008
Unlike any election in generations, this race drew out enormous numbers of first-time voters, and young folks between 18 and 30. Indeed, Obama carried all age groups up to those over 65. This was, in sheer historical terms, an impressive political event.
A Day of Days
[col. writ.
by
Carlos Chagas | 11.13.2008
He says the biggest obstacle to Brazil overcome the crisis and get strengthened out of it is the Central Bank’s President Henrique Meirelles, formed by the Bank of Boston, and that will do nothing that would undermine the private banks.
by
Dave Lindorff, thiscantbehappening.net | 11.11.2008
Don’t expect much in the way of scrutiny of this bailout process from the corporate media, by the way, which has been engaged in the same process of national consolidation for the past few decades. But clearly, the public needs to wake up and start demanding that if our money is going to be used to bail out these corrupt and horrifically managed enterprises, we the people need to have a controlling interest in running them, so that they are run in our interest. Better yet, we should be demanding that these bumbling colossuses be broken up into little pieces, and then left to sink or swim on their own like the rest of us.
'Too Big to Fail' Has an Easy Answer: Anti-Trust or Public Control
By Dave Lindorff
The one thing we are not hearing from Congress or from incoming president Barack Obama in the current economic crisis facing the country are the words “anti-trust” and “public ownership and control.”
by
Norman Solomon | 11.06.2008
Barack Obama won the presidency after clearly saying that he wants to spread the wealth. Let's make him do it.
Two days before he lost the election, John McCain summarized what had become the central message of his campaign: "Redistribute the wealth, spread the wealth around - we can't do that."
Oh, yes we can.
The 2008 presidential election became something of a referendum on "spreading the wealth."
"My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody," Barack Obama said on October 12, in a conversation with an Ohio resident named Joe. The candidate quickly added, "I think when you spread the wealth around, it's good for everybody."
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