The Jobs Report, and America’s Two Economies

looking for work

Robert Reich: With corporate profits are through the roof, the Dow is flirting with 12,000, Wall Street paychecks are fat again, and big corporations are sitting on more than $1 trillion in cash, you’d expect jobs be coming back. But you’d be wrong.

Breaking China—Legally

hu jintao

Walter Brasch: Although China is the world’s second largest economic power behind the U.S. and this country’s largest creditor, there is no need to fear either its economy or its military power. It has already sown the seeds of its own destruction.

The American Dream

american dream

Tom Degan: This, I believe, is one of the most important and educational films ever made. It explains in terms easy to understand (and with brilliant satirical insight) what has happened to this once-great nation, and why we all need to stand up and take it back.

Should Kwanzaa Stay in Black Neighborhoods?

Kwanzaa

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.

The U.S. Economy in 2011

Jobs in the New Year

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.

Reaganomics Redux

tax cuts

Robert Reich: The only practical effect of adding $858 billion to the deficit will be to put more pressure on Democrats to reduce non-defense spending of all sorts, including Social Security and Medicare, as well as education and infrastructure.

The Internet Changes Nothing

Marshall Poe

Marshall Poe: In the end, the message is the message, and the message transmitted over virtually all modern media, the Internet included, is this: buy something. That’s not a bad thing, it’s just the way things are in our world. It’s time to face it—the Internet changes nothing.

The Failure of the G-20 Summit

obama seoul

Robert Reich: It’s always nice to talk about international cooperation, and to create global photo ops. But the truth is much more needs to be done to ease tensions that are moving the global economy closer to the brink of outright protectionism

Yeah, It’s the Economy, Sherlock

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.

Voting. . .It’s Important

Eric Bauman

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 [...]

Why No Amount of Fiscal or Monetary Stimulus Will Be Enough

recession

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).

The Real Lesson of Labor Day

american flag

Robert Reich: Face it: The national economy isn’t escaping the gravitational pull of the Great Recession. None of the standard booster rockets are working.

Shorting Economists: The ‘Experts’ Keep Getting it Wrong

economy

Steven Hill: So when the authorities say “a recovery is under way” or “stimulus rather than deficit reduction” or “deficit reduction instead of stimulus,” remember: These are the same experts who are unsure of how to measure, who too often substitute ideology and partisanship for broken theory, and usually have been flat wrong in their assessments.

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