David Love: That anyone can actually utter the words “the recession is over” at a time of mass unemployment, foreclosures, homelessness and general despair tells you all you need to know about America. The nation actually exists as two nations: the few that have, and the many who don’t.
Paul Loeb: Particularly in these difficult times, we often use our children as reasons to avoid getting involved in critical issues. We’ve got all we can handle holding on to our jobs and spending a little time with them. We fear political commitments will make their lives more insecure. Especially when they’re young, it may be all we can do just to go to work, come home, pay attention to their needs, and catch a few scarce hours of sleep. Yet when we do find ways to get engaged, our children can give us powerful reasons to act.
Walter Moss: As we face the simultaneous challenges of creating more jobs and a more sustainable environment for our children and grandchildren, are we not capable of new thinking? Are we not capable of demonstrating that yes, we can evolve toward an economy that evidences more of what Schumacher thought it should — Beauty, Truth, and Goodness?
Emily Spence: Years ago, the founder of central Massachusetts’ food bank told me of the obscenely high salaries that the directors of a major, well-known Massachusetts charity providing funds for hungry Americans received every year, an amount that was purposefully not readily made public. The reason is that all of the volunteers for this charity, that raises millions of dollars each year, would be greatly dismayed that around a fourth of them were, actually, working to enrich upper management.
Brad Parker: Americans, behavior-modified to trust advertising, swimming in the dead pool of propaganda environmentally disguised as benign advertising and Infotainment, continue to cop to the Triangulating Fog Machine’s all sizzle no steak obfuscation. The only question left to ask, now that the confidence game is more widely known, is – will they keep buying it like a beaten dog or wake up and demand their money and government back?
I will not name any bankers or politicians as my favorites in causing this credit crunch we are now having. I will say the politicians were the only people tasked with acting in our interest so as a group they are the most to blame. They developed and passed the laws that now haunt us and did not provide adequate over sight.
This video was provided by Bill Moyer’s PBS Television show. It is available on YouTube. Here, Bill Moyer’s interviews Wendell Potter a former healthcare insurance executive. The interview is approximately 37 mins long. The following message was sent to the LA Progressive by a reader who calls himself jacksmith: We have the 37th worst quality [...]
Every Friday the LA Progressive features a comment that was particularly noteworthy. This week we are featuring a comment submitted by Wayne, commenting on Carol V. Hamilton’s “Right Wing Sedition.” Here’s Wayne’s comment: The real sedition is coming from within the Democratic Party, which is now rapidly becoming the party of Crony the Corporate Clown [...]
It’s the kind of thing I expect to hear from deficit hawks and chicken littles — from the self-described “fiscally responsible” right, from the scolds Ross Perot and Pete Peterson, from my former cabinet colleague Bob Rubin. But yesterday I was shown slides developed by the putatively liberal Center for American Progress intended to make [...]
Every Friday the LA Progressive features a comment that was particularly noteworthy. This week we are featuring a comment submitted by Magic StarER commenting on Charley James’ “Suppresssed Abu Ghraib Photos Published Down Under.” Here’s Magic StarER’s comment: Americans have certainly lost their moral compass and this is why they are not shocked by the [...]
One of the first things President Barack Obama did as our nation’s Chief Executive was to urge Congress to pass, then sign, the American Recovery & Reinvestment Act (ARRA), better known as the nation’s “economic stimulus” package. The $787 billion bill, the largest taxpayer footed bill ever passed, was viewed as the primary vehicle to [...]
GM just announced it was laying of 21,000 more of its workers, as a means of assuring the Treasury Department the company is worthy of more bailout money. A Treasury official was quoted as saying approvingly that the goal is a “slimmed-down” GM. What? Having General Motors or Chrysler cut tens of thousands of jobs [...]
by T. Christian Miller, ProPublica and Doug Smith, the Los Angeles Times Civilian workers who suffered devastating injuries while supporting the U.S. war effort in Iraq and Afghanistan have come home to a grinding battle for basic medical care, artificial limbs, psychological counseling and other services. The insurance companies responsible for their treatment under taxpayer-funded [...]
The efforts to jump start the economy in the United States, in hopes of causing a global ripple, have taken on an entirely new meaning as people and industry alike wait for the $787 billion dollar economic stimulus package to drop. It’s like a “mania” as so many cities, states, industries, school districts, homeowners, small [...]
No one likes to pay taxes, so tax day typically attracts a range of right-wing Republicans, kooks, and demagogues, all of whom tell us how awful we have it. Herewith a short citizen’s guide (that is, a citizen’s guide that’s short rather than a guide for short citizens) responding to the predictable charges: “Americans pay [...]
With only $110 billion remaining in the TARP bailout fund, all signs are that Tim Geithner is preparing to return to Congress seeking more bailout money. He’ll bring along the results of his bank “stress tests,” which will probably show many that big banks are still technically insolvent, along with bankruptcy scenarios for General Motors [...]
The United States has always been a political economy, requiring government regulation of its finance and money markets, and using government stimulation on its labor force. “Free Market” enterprise is based on the notion that open markets and the competition derived from competing ideas for consumer patronage will create a market balance (equilibrium) that will [...]
Are we at the beginning of the end? Mortgage interests are now so low (the average rate on 30-year fixed mortgages was 4.87% Thursday, slightly higher than the 4.78% last week, but still the lowest level since 1971) that President Obama has begun urging Americans to refinance their homes so they can save money and [...]
William K. Black suspects that it was more than greed and incompetence that brought down the U.S. financial sector and plunged the economy in recession — it was fraud. And he would know. When it comes to financial shenanigans, William K. Black, the former senior regulator who cracked down on banks during the savings and [...]