LA Progressive: April 19 to April 25, 2009

Revisionist History Cannnot Override Long Racial Legacy. If the LAPD is really trying to establish a “new” image, the “new” police headquarters will not have William H. Parker’s name on it. –Anthony Samad AB 1017 Would Strengthen Laws Regarding Rape Kit Testing. Of 4,718 untested rape kits in the City of Los Angeles, 403 were [...]

LA Progressive: April 12 to April 18

The Tea Baggers and the Bizarro Revolution. –John Delloro Human Rights Organizations Say Immigrants Caught in Detention Dragnet. –Michele Waslin Stimulus Mania: Is It The 21st Century Soup Line? –Anthony Asadullah Samad A Short Citizen’s Guide to Kooks, Demagogues, and Right-Wingers On Tax Day. –Robert Reich Reporting From the Tea Bagger Hate-Fest in Sacramento. –Joseph [...]

This Week in the LA Progressive: March 29 to April 4

commie-republicans

Equal Access, Equal Justice Rejecting Post-Raciality: An Ode to the Life of John Hope Franklin. Franklin proved that within our story is America’s story and America “Negro problem” was a refusal to acknowledge the equality of black America. –Anthony Asadullah Samad Diddy’s Dumb Deed. My “sistas” are finally no longer making excuses for self-haters. Why [...]

This Week in The LA Progressive: March 15 to 21, 2009

Averting the Greater Depression The Rich Countries’ Faltering “United Front.” During the 1930s, Europe and the U.S. were also unable to agree on a common strategy, which led to a worldwide trade war and the plunge into depression. –Carl Bloice Economic Recovery Will Be More than Trusting President Obama’s Stimulus Plan. But then, this economic [...]

This Week in the LA Progressive: March 9 to March 15, 2009

Across the Border Humvees in Tijuana: The US and the Mexican Narco-Wars. We need to clean up our own act before intervening in Mexico. Even under Obama we look too quickly to the military “solution” — no solution at all. –Diane Lefer Unreliable Immigration Data Is Out of Date and Context. Mainstream media running a [...]

This Week in the LA Progressive: March 2 to 8

Budget Obama Rescuing Capitalism: That’s a Lot of Weight for One Brother. Obama is present at the re-creation of the global economic system. “It is a challenge he has to take up,” Like I said, that’s a lot of weight. –Carl Bloice Is Obama Responsible for Wall Street’s Meltdown? Where Populist Rage Is Heading. The [...]

This Week in the LA Progressive: February 22 to February 28

Obama’s Budget Finally, A Progressive Budget. This Mini Depression is partly the result of a widening gap between what Americans can afford to buy and what Americans when fully employed can produce. –Robert Reich Obama’s Goal: Halving the Budget Deficit by 2012. Really? Halving the budget deficit by 2012 is a nice goal but it [...]

Obama’s Goal: Halving the Budget Deficit by 2012. Really?

economy-under-water

The President’s message on fiscal responsibility — that he’ll cut the current one by half by the end of his first term — is smart politics right now, but it may be dumb politics by November of 2012, and doesn’t make much economic sense regardless. We’re in a deepening recession, in case you hadn’t noticed. [...]

The Stimulus and the “Threat to Stability”

uncle-sam-crutches

Well, now it appears that, as the New York Times put it Monday, the “Rise in Jobless Poses Threat to Stability Worldwide.” This comes just after the new United States Director of National Intelligence, Dennis Blair, told Congress instability caused by the global economic crisis had become the biggest security threat facing the United States, [...]

The Debate to Come over Wall Street, Autos, and Everything Else: Cyclical or Structural?

problem

by Robert Reich – First prediction for 2009: A widening gap between the public’s view of the bailouts of Wall Street and Detroit, and the views of the direct beneficiaries. The public believes the bailouts will permanently change these industries, but industry insiders don’t really want to change.

The Housing Bubble Continues to Burst

waiting_for_santa

by Robert Reich – The National Association of Realtors said today that home prices have now dropped to the point where they’ve wiped out all the gains in housing prices since 2004. 2004, not incidentally, was when interest rates last hit bottom, and the Feds looked the other way while mortgage bankers began shoving money [...]

States’ Budget Crises: Share the Pain, Share the Dough

sanjose-football

by Carl Bloice – It’s probable that by the time this is read, officials in San Jose, California, will have eliminated athletic programs from all 11 of the city’s high schools. It might not seem like much to some, given the declining economic situation in the country and the kinds of budget cuts being made [...]

The Logic of Keynes in Today’s World

jobs

by Robert Reich – Not long ago I was talking to someone who once had been a deficit hawk but the current recession had turned into a full-blooded Keynesian. He wanted a stimulus package in the range of $500 to $700 billion. “Consumers are dead in the water,” he said, fervently, “so government has to [...]

White House and TARP to the Rescue — of Automakers, but not of States and Locales

detroit-flying

by Robert Reich – What now for the automakers? The Troubled Assets Relief Program — TARP — was enacted to save Wall Street but it’s already been so twisted out of its original shape by Hank Paulson that a bit more twisting to save the Big Three from bankruptcy over the next few weeks won’t [...]

Are We Courting a Populist Backlash?

auto-wave

by Robert Reich – The government is doing a lousy job helping distressed homeowners. And according to John Dugan, the Comptroller of the Currency, the little that’s been done has had surprisingly little effect. Nearly 36 percent of homeowners holding mortgages whose terms were adjusted to give them more leeway defaulted on payments within three [...]

Shall We Call It a Depression Now?

economy

by Robert Reich – Friday’s employment report, showing that employers cut 533,000 jobs in November, 320,000 in October, and 403,000 in September — for a total of over 1.2 million over the last three months — begs the question of whether the meltdown we’re experiencing should be called a Depression.

Of Financial Capital and Human Capital: Why We’re Bailing Out Wall Street While Allowing Our Schools to Get Clobbered

liberty

by Robert Reich – Our preoccupation with the immediate crisis of financial capital is causing us to overlook the bigger crisis in America’s human capital. While we commit hundreds of billions of taxpayer dollars to Wall Street, we’re slashing our outlays for public education.

Why the Automakers Won’t Make Fuel-Efficient Cars, Even as the Price of Being Bailed Out

detroit

by Robert Reich – Telling automakers to make more fuel-efficient cars as a condition of being bailed out is like telling Citigroup or any other big bank to issue more affordable loans to Main Street as a condition of being bailed out. It won’t happen.

Another Great Depression?

great-depression

The United States is in the midst of the worst financial crisis since the Great Depression. The question is: How close are we to another Great Depression? The answer is: Very close. Here’s why. The Great Depression was the result of the combination of the 1929 financial crisis and serious structural problems in the American [...]

The Rebirth of Keynes, and the Debate to Come

John Maynard Keynes

by Robert Reich – The economy has just about come to a standstill – not so much because credit markets are clogged as because there’s not enough demand in the economy to keep it going. Consumer spending has fallen off a cliff. Investment is drying up. And exports are dropping because the recession has now [...]

How Obama Is Already Taking Charge

by Robert Reich – Obama’s immediate challenge is to fill the leadership vacuum created by a lame-duck president with historically-low approval ratings who seems to have lost interest in his job (at this writing, he’s out of the country) and who’s disappeared from the media, and a Treasury chief who has all but punted on [...]

The Mini Depression and the Maximum-Strength Remedy

by Robert Reich – This is not the Great Depression of the 1930s, but nor is it turning out to be merely a bad recession of the kind we’ve experienced periodically over the last half century. Call it a Mini Depression.

If They’re Too Big To Fail, They’re Too Big Period

by Robert Reich – According to Treasury Secretary Hank Paulson, the biggest Wall Street banks now getting money from the government are just “too big to fail.” Fed Chairman Ben Bernanke uses a different euphemism – he calls them “systemically critical.” The point is that if any of them goes down, it could take the [...]

A Short Primer on McCainomics Versus Obamanomics: Top-Down or Bottom-Up

Fannie Mae Mortgage Crisis

by Robert Reich — McCain and Obama represent two fundamentally different economic philosophies. McCain’s is top-down economics; Obama’s is bottom-up.

The End of the Great Moderation, the Bailouts of Freddie & Fannie and Wall Street, and the Tattered Safety Net for Everyone Else

Robert Reich

by Robert Reich — As we bail out Wall Street along with Freddie and Fannie and all the top financial executives who have been pocketing tens of millions a year, yet allow millions of homeowners and jobless Americans to sink, it’s worth contemplating what’s happening to the American economy and to our social safety nets.

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