What’s the Economy for Anyway?

tim geithner

Robert Reich: The biggest problem is that corporate money is undermining democratic institutions in the name of better deals for consumers and investors.

The Rich Are Destroying the Economy

bank-robbery

Shamus Cooke: Because both parties simply threw money at the banks and hedge funds instead of punishing them, a condition of “moral hazard” was created, meaning, that banks would assume another bailout would come their way if they destroyed the economy again — too big too fail, remember?

Shorting Economists: The ‘Experts’ Keep Getting it Wrong

economy

Steven Hill: So when the authorities say “a recovery is under way” or “stimulus rather than deficit reduction” or “deficit reduction instead of stimulus,” remember: These are the same experts who are unsure of how to measure, who too often substitute ideology and partisanship for broken theory, and usually have been flat wrong in their assessments.

Obama’s Delusions: The Economy and Iraq

08202010

Shamus Cooke: The hundreds of billions of dollars that Obama will use to wage war in Iraq and Afghanistan could just as easily go to create jobs in the United States: public works could be financed by the government, as they were during the last Depression, that directly create jobs.

The Great Credit Card Battle To Come

credit-card-sharks

The next front in the banking wars will be over credit cards. Some of the nation’s biggest bankers — including representatives of Citigroup, JP Morgan Chase, and other recipients of billions of taxpayer dollars — are meeting today with the President to ask him back off his move to reform credit-card lending practices. What’s happening […]

We’ve Invested in Wall Street, Now It’s Time to Invest in the Rest of America

The global economy has been put into the economic equivalent of a full nelson by a financial system threatening to collapse under the weight of a complicated pyramid scheme. The Bush administration sounded dire warnings and cobbled together a vaguely flushed-out rescue plan promising the injection of up to $700 billion of taxpayers’ dollars into […]

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