Brent Budowsky: Lawrence Summers fought for the worst economic idea since FDR, repealing Glass-Steagall — a super-disastrous mistake.
ardly a day goes by without a new headline screaming about the scandal of youth unemployment, which has been pinned at the outrageous levels of 50 percent in Spain and Greece and above 20 percent in the eurozone. There’s just one problem – those numbers are derived from a flawed methodology, which misrepresents the true [...]
Brent Budowsky: Prediction – Sarah Palin will issue a Sherman statement declaring she will not run for president in 2012, and will instead host a one-hour political talk show on network or cable television that will become the highest-rated political talk show in TV history.
Robert Reich: Not only do we need extended unemployment benefits. We need a new WPA, modeled after the WPA of the Great Depression, to put jobless Americans to work. We need a national infrastructure bank to rebuild our crumbling highways and water and sewer systems, thereby putting additional people back to work.
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.
Labor Day became a federal holiday in the United States in 1894. At that time, conflict between labor unions and the railroads had reached such a fever pitch that there was danger of the American economy taking a big hit. President Grover Cleveland took action by calling in the U.S. Military and U.S. Marshals to [...]
Nomiki Konst: While Obama has done an admirable job ignoring the Tea Party outbursts and outlandish claims and focusing on moving his agenda forward, Maddow, Matthews, Olbermann, Colbert, Stewart, Cooper, Crowley, Sanchez and Shultz have missed an incredible opportunity to vocalize the progressive agenda while they have the floor. For eight years, progressives were unable to bring their agenda to the table and had to constantly act on the defensive.
The Lex Column in the Financial Times got it right: “… ‘less down’ is now the new ‘up’ as media watchers search for stabilization in the overall market.” The writer was referring to the world of advertising where some analysts were putting a hopeful spin on revenue that fell 18% over the first three months [...]
Michael T. Darda, chief economist at the research and trading firm MKM Partners, probably summed up last week’s message from Washington best, telling the New York Times, “Less bad is always a prelude to good.” The things one learns. We are being asked to believe that the results of the “stress tests” were “not as [...]
When I heard there was a sizable increase in black community joblessness between April and May I mentioned it to a few people and in return got that so-what-else-is-new? stare. “Every month, when unemployment rate data are released, the news for African Americans is bleak,” wrote educator Julianne Malveaux four years ago. Some things change, [...]