Robert Reich: Happy Birthday Wall Street. Party away. Just know that most Americans aren’t joining the celebration.
Rev. Irene Monroe: This Kwanzaa holiday, I’ll head out to the neighborhood store to purchase my red, black and green candles for the kinara, because I know that the strength of the U.S. economy is found in its multicultural small community owned businesses that reflect our nation’s diversity. And in so doing, I would also be honoring the fourth principle of Kwanzaa which is cooperative economics.
Robert Reich: The two American economies — the Big Money economy and the Average Working Family economy — will continue to diverge. Corporate profits will continue to rise, as will the stock market. But typical wages will go nowhere, joblessness will remain high, the ranks of the long-term unemployed will continue to rise, the housing recovery will remain stalled, and consumer confidence will sag.
Carl Bloice: Any member of Congress who thinks obstructionism is the way to win elections should know that in two years we will be sure that voters will know who stood in the way of jobs. We have an energized membership that’s ready to fight, and we’re going to give it everything we have.
Robert Reich: Obama shouldn’t be fooled into thinking Bill Clinton was reelected in 1996 because he moved to the center. I was there. Clinton was reelected because by then the economy had come roaring back to life.
Eric Bauman of the Los Angeles County Democratic Party sent this video to remind us all that Election Day is around the corner and California has a clear choice to make. Says Bauman, “While Meg Whitman, Carly Fiorina and their Republican cronies hope to protect right-wing conservative special interests and their “friends” on Wall Street, Democrats are [...]
Robert Reich: The Fed’s decision Tuesday to keep short-term interest rates near zero is no surprise. What’s odd is its apparent decision not to boost the economy by buying hundreds of billions of bonds — despite its acknowledgment that ”the pace of recovery in output and employment has slowed in recent months,” and that prices are rising too slowly for comfort (i.e., we might be facing deflation).