Georgianne Nienaber: There is a deep distrust of anything British Petroleum has to say here in south Louisiana, and the President’s claim that 90 percent of the flow will be stopped by the middle of July is being roundly criticized. If the number came from BP, there is good reason to be incredulous.
Joseph Palermo: Tuesday night President Obama explained how his administration is going to respond to the most devastating human-made ecological catastrophe in the nation’s history. But he apparently doesn’t recognize how overwhelmingly popular it would be right now with the American people if he came out swinging against the malefactors of great corporate wealth like BP (or Goldman Sachs).
Joseph Palermo: The wide dissemination of Beck’s views wouldn’t matter much if the United States were in better shape today. But the status quo that is emerging cannot help but create a highly volatile electorate for years to come. Class lines are hardening, mobility is stifled, unemployment will remain near double digits for many years, there is a sea of angry voters who are susceptible to jingoistic appeals and conspiracy theories (like the ones Beck promotes). The ongoing fiscal crisis at the local, state, and federal levels has led to the heartless rollback of public institutions at exactly the time when they are needed the most.
Walter Moss: Having just completed research on economist and environmentalist E. F. Schumacher (1911-1977), I have been struck by how relevant many of his warnings are to today’s events. Although I don’t necessarily agree with everything he wrote, his comments are well worth considering as we struggle to deal with all our complex problems.
Joseph Palermo: The financial reform legislation currently winding its way through the Congress is a step in the right direction but it retains too much of the status quo that brought down the economy in the first place. The key problem, as many economists have been telling us, is that the top financial institutions remain “too big to fail.” Congress can enact all the regulations it wishes but even the best written rules won’t be enough to prevent another financial meltdown.