Tina Dupuy: The Tea Party’s premise is like phoning someone you’re mad at because they won’t call you back and telling them never to call you again. That’ll show ‘em you aren’t crazy!
“The Party of No doesn’t want the union vote, the working family vote,” AFL-CIO President Rich Trumka said at the AFL-CIO-sponsored Battleground States Conference. “They want us all to stay at home out of frustration.”
Robert Reich: A record number of Americans is unemployed for a record length of time. This is a national tragedy. It is to the nation’s credit that many are receiving unemployment benefits. This is good not only for them and their families but also for the economy as a whole, because it allows them to spend and thereby keep others in jobs.
Robert Reich: Whatever the outcome of the upcoming midterm elections, the activist phase of the Obama administration has likely come to a close. The President may have a fight on his hands even to hold on to what he’s already achieved because his legislative successes have been large enough to fuel strong opposition but not big enough to strengthen his support. The result could be disastrous for him and congressional Democrats.
Randy Shaw: Many believe that Hollywood films provide escapist entertainment, and should not be seen as sending political messages. We are told that studios are about making money, and that they would make tribute films to Karl Marx if that were good for the box office. Well, the historic record and the films of 2010 say otherwise.
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.
Articles by Anthony Samad, Gil Troy, Paul Hogarth, Seth Hoy, Carl Matthes, Andrea Nill, Randy Shaw, Tom Degan, Marcy Winograd, Seth Hoy, Mark Bowen, Gary Coseri, Michael Sigman, Tom Hall, Sharon Kyle, Robert Reich, Tom Degan, Sikivu Hutchinson, Adam Eran, Carl Bloice, Shamus Cooke, and Tina Dupuy
Joseph Palermo: In 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown , Simon Johnson and James Kwak point out that in September 2008 the high-flying masters of the universe were at their weakest point and had no choice but to do whatever the government demanded of them. Never mind the supreme irony of Wall Street bankers who claimed government had no place interfering in the miracles of the market begging the government to save them, it was at that time when we should have cut them down to size.
Robert Reich: The economic lesson President Obama ought to be teaching is that targeted tax cuts, mostly for small business, are good to the extent they give businesses a nudge toward creating more jobs. But businesses won’t begin to create lots of jobs until they have lots of customers. And that won’t happen until lots more Americans have work. The only way to get them work when businesses aren’t hiring is for government to prime the pump.
Something, anything, has to be done at some point to show that the Obama Administration is not just the latest group of good people with good ideas that are absorbed into a system that makes Hamid Karzai look like a clean government activist. The corporate money so clogs the arteries of our body political the whole damn thing is sclerotic, choked off from the life-giving oxygen of democracy.
Great pessimism during economic busts is as characteristically American as great optimism during boom times. The oh-ohs’ whateverism is less fleeting and thus more dangerous. A culture of denial, disengagement, dissociation is dysfunctional. We need a culture of engagement and responsibility, even with all our traumas, distractions and high-tech toys.
The public doesn’t know what’s going on because the national media would rather report on the sexual escapades of famous people or social trends or high finance (a recent Pew study of economic reporting shows the vast majority of stories about the Great Recession have focused on Wall Street rather than Main Street).
In the midst of the worst economic downturn since the Great Depression, and in anticipation of a new round of legislative debates on comprehensive immigration reform, DMI’s report makes a rational, concise argument for why comprehensive immigration reform is needed to improve the conditions for middle class Americans.
The 30-year class war the rich launched against the working people in this country (and reached its apogee during the George W. Bush years), has left the middle class reeling and wounded. Only bold federal action that puts something concrete in the palms of middle-class Americans can begin to turn these dire social conditions around.
The California State Senate adjourned at midnight, unable to pass three stopgap bills that would have saved the state $7 billion. To appease Governor Arnold Schwarzenegger, the Democratic leaders of the state legislature hastily drew up the three complicated bills to try to stave off fiscal collapse and the necessity to begin issuing IOUs. All [...]
In a word: No. The plan doesn’t stop stop bankers from making huge, risky bets with other peoples’ money. It does increase capital requirements and oversight, but it doesn’t require bankers to take their pay in long-term stock options or warrants, and it doesn’t even hint that banks should go back to being partnerships instead [...]