Robert Reich: RBoth Obama and Romney assume the recovery will continue, even at a slow pace, and that we’ll be back to normal at some point. But I’m not at all sure. “Normal” is what got us into this mess in the first place.
When Work Disappears: The Silent Reality of Chronic Black Unemployment
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Anthony Samad: Damn near every street in the southland is torn up from construction, as is damn near every freeway. I purposely look for BMWs (Black Men Working). I rarely see any and I’m not the only one who notices this. It’s often a point of conversation in the circles I run in.
The Jobs Report: Don’t Break Out the Champagne
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Robert Reich: When people ask me what Congress is likely to do I always say the same thing: The odds are in favor of nothing.
North Dakota’s Economic “Miracle”—It’s Not Oil
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Ellen Brown: North Dakota is the only state to be in continuous budget surplus since the banking crisis of 2008.
Stock Tip: Be Worried. Workers are Consumers.
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Robert Reich: Every CEO of every company that continues to squeeze payrolls (Verizon, are you listening? Ford?) needs to understand they’re shooting themselves in the feet. Where do they expect demand for their products and services to come from?
Why We Should Trade Broccoli and Asparagus for Hot Dogs and Apple Pie
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Robert Reich: The requirement that everyone purchase health insurance, or pay a fine doesn’t appeal to many Americans. They don’t like the government telling them they have to buy something. But the healthcare system can’t work without this mandate. Only if everyone buys insurance can insurers afford to cover people with preexisting conditions, or pay the costs of catastrophic diseases.
Financial Depression Spreads Among Seniors
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Sherwood Ross: President Obama has U.S. taxpayers paying billions to meet the costly payrolls of 50,000 troops and 190,000 contractors in Iraq while 20-million-plus jobless are looking for work in USA and can’t find it.
Forget Double Dip: We’re Still in One Long Big Dipper
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Robert Reich: It’s nonsense to think of the economy heading downward again into a double dip when most Americans never emerged from the first dip. We’re still in one long Big Dipper.
The Jobs Emergency
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Robert Reich: We need a response proportional to the crisis. Obama, Pelosi, and Reed should summon Congress back to Washington for action on the jobs emergency.
Is Obama Powerless Against BP?
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Shamus Cooke: When the polls reported that Obama wasn’t taking the oil spill seriously enough, his next TV appearance depicted him as “outraged.” Yet his continuing lack of action doesn’t match his new, stronger emotions; nor does his inaction match the dire seriousness of the situation.
Friday Feedback: Call for Jobs Programs
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I can’t say I was “disappointed” in the jobs summit, because I didn’t expect it to be more than window dressing, but every day I wake up with the hope that President Obama will read one of the articles by people like Paul Krugman or Bob Herbert in the NY Times and a light will finally click on in that sharp brain of his.
The Wall Street Rally: Watch Your Wallets
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Keep your eye on the real economy, where unemployment and underemployment keep rising. It’s not as much fun as cheering and investing right now, but it’s far safer.
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