Pushing Working People Down

strike

Jim Fuller: Probably the most obvious example so far of how the very rich are using this economic downturn to consolidate their power is the strike by 305 hourly workers at the Mott’s apple juice plant in upstate New York.

The Duh Factor, or Biz School Brilliance

fat cat

Jim Fuller: I confess to major reservations about those who work in and for the business schools that now take up far too much otherwise valuable space on most major college and university campuses.

Capitalism Is Killing Us

china number two

David Love: While Chinese workers jump out of windows, Americans are dying as well. In the U.S., workers die on exploding oil rigs and in deathtrap coal mines because their regulation-hating employers want to maximize profits.

Why Growth Is Good

double dip recession

Robert Reich: If governments keep hacking away at their budgets while consumers almost everywhere are becoming more cautious about spending, global demand will shrink to the point where a worldwide dip is inevitable.

The Jobs Emergency

camp foreclosure

Robert Reich: We need a response proportional to the crisis. Obama, Pelosi, and Reed should summon Congress back to Washington for action on the jobs emergency.

Undocumented Youth Pin DREAMs on Congressional Action

Michelle Waslin: Research has shown that the DREAM Act would be a boon to the economy and the U.S. workforce. Moreover, the DREAM Act create an opportunity for many young people to get on the path to permanent legal status, improve their education, invest in themselves and their communities, and serve their country.

Misrepresenting the Left: We Are Not Liberals

leftists

Ton Jacobs: From the New York Times to FOX News, the portrayal of the US Democratic party and Barack Obama as leftist is creating a perception in the US populace that leftists are ineffective politicos who have no principles they won’t modify.

The Vanishing American Consumer and the Coming Trade War

g-20 summit

Robert Reich: We’re unlikely to see a repeat of the disastrous Smoot-Hawley tariffs that worsened and lengthened the Great Depression. But you can forget trade-opening agreements. In Toronto last week, the G-20 leaders dropped their 2009 pledge to finish the Doha round this year. In the U.S., agreements with South Korea, Panama, and Columbia are languishing.

Did Greedy Homeowners Cause the Big Crash?

homeowners

Steve Hochstadt: We grredy American homeowners appear as co-conspirators in many judgments about what caused the great recession. In these interpretations, many of us were greedy for wanting bigger homes than we deserved, foolish to have then bought larger houses than we could afford, and stupid for agreeing to the low-interest/low-payment scams of mortgage sellers.

SB 1070 “Gets Tough” on Arizona’s Housing Market

moving day

Seth Hoy: According to the Arizona Republic, housing experts anticipate that SB 1070 will not only drive illegal immigrants out of the state, but legal residents and potential new homebuyers with them—“departures from a state where growth is the economic foundation.”

Skewed Wealth Distribution and the Roots of the Economic Crisis

david barber

David Barber: What I do know is that while “social psychology” may have had some small role as a causal factor in the Crash of ’08, it was the actual structure of the American and world economies which brought on the crisis. And if in fact we enter a second round of this Crash, it will not stem from what Dr. Shiller calls a “weakness and vulnerability of confidence,” but will result from the same structural elements of our economy as those that brought on the “first dip.”

Blacks Prison and Unemployment

black child

Sherwood Ross: Slumlords charge exorbitant rents. “Convenience” stores charge higher prices. Military recruiters have their pick of jobless youth desperate for work. And the for-profit, private prisons increase their head count (and income) as the judicial system hands off the young drug peddlers caught in the legal web. As the Kaiser Family Foundation reported, African-Americans fill 40 percent of the nation’s prison cells. Yet they make up just 13 percent of the nation’s population.

Bush Recession Comes Home to Roost

tax chart

Adam Eran: Tax cuts caused the current budget deficit, not crazy spending. Local government revenues fell 57% after Proposition 13. Even more egregious, the consume-atives™ (they do not conserve), now complain that State funding for local governments to fill that revenue hole meddles too much in local affairs.

Employers Take Beating Laying Off Employees

Layoffs

Sherwood Ross: As millions of Americans have been fired by employers struggling to remain profitable, we have all borne witness to Corporate America’s calloused disregard of its workers. Now, canny business economists claim the layoffs have hurt employers, too.

Immigrant Homebuyers Play Crucial Role in Housing Market Revival

latino-asian-homebuyers

Earlier this week, the Joint Center for Housing Studies of Harvard University released a new housing report which provides a rather grim analysis of the current housing crisis.  Real home prices continue to fall and foreclosures continue to mount despite recent federal interventions.  Because of job losses, decreased home prices, and tougher credit eligibility requirements, [...]

Obama Rescuing Capitalism: That’s a Lot of Weight for One Brother

obama_congress

Back in December, when it was obvious that the economy was in bad shape and before we knew how precarious it could get, Fareed Zakaria, editor of Newsweek International and columnist for Newsweek and the Washington Post, wrote, “For Obama to be remembered as a great president, he has to do nothing less than rescue [...]

Popular Delusions and the Madness of Crowds

Governement Spending

“Men…think in herds; …go mad in herds, while they only recover their senses…one by one.” — Charles MackayRepublican Assemblyman Roger Niello‘s recent editorial “Performance Based Budgeting Deserves a Look,” is his bid to appear as a man who has recovered his senses. In it, he reminds us that California’s state budget process is imperfect. The [...]

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