Is Radical Remaking of Economy Taking Root?

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Kevin Zeese and Margaret Flowers: The fact that people are waking up and taking action gives us hope based not in the rhetoric of phony politicians but in the actions of the people. That is where the real power resides, if we exercise it.

Still Think We Don’t Need Affirmative Action?

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David Love: Minority groups have been disproportionately affected by the Great Recession, and to make things worse, since the economic downturn, it appears diversity has not been a priority for employers.

How Enterprise Zones Are Killing the California Dream

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Gary Cohn: California’s Enterprise Zone program has been under fire for years from critics who say that it simply rewards employers for moving jobs from one location to another — and who echo the charge that several of the so-called enterprise zones aren’t really in economically distressed regions.

Why Democrats Can’t be Trusted to Control Wall Street

President Obama talks with Jack Lew and Tim Geithner (Official White House Photo by Pete Souza)

Robert Reich: Who needs Republicans when Wall Street has the Democrats? With the help of congressional Democrats, the Street is rolling back financial reforms enacted after its near meltdown.

Apple Could Pay for Moore

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Tina Dupuy: Because these giant corporations are getting a free pass by the very premise they create jobs, they’re in essence piling their tax burden onto their workers.

What’s Wrong with Jamie Dimon Is What’s Wrong with America

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RJ Eskow: Dimon isn’t the cause of our economic problems. He’s merely a symptom. He’s no more responsible for the wreckage he leaves behind than a surfer is responsible for the undertow of the wave he’s riding. Dimon may lack moral sensitivity, but then, that’s the character that got him where he is today.

As Cities Prosper, Poor People Relocate to Suburbs

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Randy Shaw: Now that cities offer walkable, bicycle-friendly, public transit-available neighborhoods with desirable restaurants and a high quality of life, the poor are being shunted to car-dependent suburban areas in economic decline.

Global Capital and the Nation State

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Robert Reich: The fact is, global corporations have no allegiance to any country; their only objective is to make as much money as possible — and play off one country against another to keep their taxes down and subsidies up.

$51 Billion in Student Loan Profits

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Julie Driscoll: Students and their parents’ only hope is Elizabeth Warren and Sherrod Brown, two Democratic Senators who have the cojones to take on big banks, Wall Street, and the powers that be.

Protesting Walmart: The New Freedom Riders

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Berry Craig: Called the “Ride for Respect,” the demonstration at Walmart corporate headquarters in Bentonville, Arkansas, will be modeled on civil rights volunteers who rode buses into the South in the 1960s to protest Jim Crow racial injustice.

Pope Francis Condemns the Cult of Greed, Ted Cruz and Paul Ryan Support It

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Brent Budowsky: Ryan famously tried to employ Catholic theology on behalf of his budget austerity against the poor, and was quickly forced to retreat as the absurdity of this view became obvious.

Simpson-Bowles Austerity Gang: Go Home

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Richard Eskow: Simpson and Bowles, those two hired pitchmen for budget-cutting hysteria, are still hawking an economy-killing product called “austerity economics,” a product that’s designed to benefit their wealthy patrons at everybody else’s expense.

Pushing Budget Reform State by State

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Randy Shaw: While progressives debate whether President Obama could have used his “bully pulpit” to overcome GOP opposition to reviving the nation’s economy, let’s accept that in 2013-14 activists can more effectively address economic justice measures at the state level.

Will JPMorgan Chase Bankers Finally Pay the Piper?

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RJ Eskow: Will Kamala Harris hang tough in her new lawsuit against JPMorgan Chase, the first to target individual bankers accused of defrauding the public? If so, it would be the first time in five years that executives at a major bank have personally paid a price for their misdeeds.

Turning Mirage Recovery into Real Recovery

people need jobs

ecently, news reporters have been sounding almost giddy, saying that unemployment is dropping, housing prices are rising and the stock market is growing to new highs. But, these reports do not ring true with what people see around them. When you look beyond the sunny headlines, the sad reality is mirage recovery. The economy is limping […]

The Hollowing Out of Government

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Robert Reich: When Republicans can’t directly repeal laws they don’t like, they repeal them indirectly by hollowing them out — denying funds to fully implement them, and reducing funds to enforce them.

Sequestration: Budget Balancing on the Backs of the Majority

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Jamala Rogers: The Congressional Budget Office estimates sequestration will cost around 750,000 jobs in total. Economic experts project a huge, negative impact on the economy. Once again, Congress proves that it knows nothing about job creation or economic development.

Repeal Sequester, Repeal Insanity, Spend More Money

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Richard Eskow: So, yes, repeal the sequester. Repeal deficit babble, from the President or anyone else. Repeal the Visigoth Party’s right to ruin the economy. And repeal Tom Friedman too, just on general principle.

Bail-Out Is Out, Bail-In Is In: Another Argument for Publicly Owned Banks

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Ellen Brown: A crisis in a major nation such as Spain or Italy could lead to a chain of defaults beyond anyone’s control, and beyond the ability of federal deposit insurance schemes to reimburse depositors.

Markets, Prices and Justice

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Claude Fischer: Today, Americans are the least likely, among the citizens of affluent nations, to support price controls or generally any interference in the market.

Our Dysfunctional Economics and Politics: Reflections on Joseph Stiglitz’s The Price of Inequality

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Walter Moss: Nobel-Prize-winning economist Joseph Stiglitz’s The Price of Inequality: How Today’s Divided Society Endangers Our Future (2012) demonstrates how and why our present economy and government are a mess and how they have increased inequality, including widening the opportunity gap.

Why This Is the Worst Recovery on Record

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Robert Reich: We’re now witnessing what happens when all of the economic gains go to the top, and the rest of the population doesn’t have enough purchasing power to keep the economy going.

Opposition Grows Fierce to Austerity Cuts

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Mark Vorpahl: This latest budget crisis poses the question of “who do Portland’s elected leaders serve, the city’s majority of working class communities or big business and the wealthy?” So far, while the 99% have been suffering with all the belt tightening, Portland’s 1% have been left to grow fat.

The Upside of Taxes

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RJ Eskow: Today’s new corporate-sponsored cost-cutting craze is merely the latest policy designed to enrich a powerful few at the expense of the many, and today’s anti-tax agenda is being used to make sure it succeeds.

Double Whammy: Grim Jobs Picture, Horrible “Grand Bargain”

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Carl Bloice: The Congressional Progressive Caucus budget that is far more sensible and humane than anything the White House is proposing. But since the “serious” people in Washington don’t cotton to it, the serious mainstream media won’t give it the time of day.

Winner Takes All: The Super-Priority Status of Derivatives

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Ellen Brown: “Too big to fail” now trumps all. Rather than banks being put into bankruptcy to salvage the deposits of their customers, the customers will be put into bankruptcy to save the banks.

Memo to President Obama: Expand Social Security, Don’t Cut It

White House Photo: Pete Souza

Steven Hill: The White House says its 2014 budget will propose cuts to the retirement program. Not only is that unnecessary, the U.S. could and should expand it.

It’s the Jobs, Stupid

President Barack Obama greets staff of Council of Economic Advisers (Official White House Photo by Pete Souza)

Brent Budowsky: Obama needs to contemplate the possibility that his legacy will be “the jobless president.” He should fight to become “the jobs president.”

It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors

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Ellen Brown: When Americans realize that the alternative is to have their ready cash transformed into “bank stock” of questionable marketability, moving failed mega-banks into the public sector may start to have more appeal.

Mad About Money

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Peter Laarman: The very wealthiest Americans, whose share of income and wealth has shot up astronomically for the past 25 years, have somehow gotten a huge number of other Americans to buy into the idea that there isn’t enough money. And that therefore we should cut lifeline benefits that go to poor children and sick people and old people and veterans.