Stephen Lendman: Monthly Labor Department (BLS) data report inaccurately. America’s broken jobs engine isn’t explained. The latest 7.8% unemployment rate is blarney. Based on the 1980s calculation model, real unemployment approaches 23%.
Shamus Cooke: The coast is clear, the media tells us; economic disaster has been averted. The Euro Zone is finally stable and the U.S. economy is recovering. Whew! Why, then, are government policies internationally still pursuing extremist measures?
Steve Hochstadt: epublican proposals in the Senate and House, created mainly by Romney’s VP selection, Paul Ryan, lower taxes on the wealthy in two whopping chunks: the top tax rate drops from 35% to 25%, and all taxes on capital gains disappear.
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.
Steve Hochstadt: Romney thinks that the people who got the jobs he says he created are those irresponsible parasites who are hopelessly dependent on government. That is ironic.
Ekkeb Brown: Insolvent banks should be put through receivership and bankruptcy before the government takes them over. That would mean making the creditors bear the losses, standing in line and taking whatever money was available, according to seniority.
Charley James: Reports surfaced today that Nobel Prize Winning economist Dr. Paul Krugman will be offered the job of chairman for the White House Council of Economic Advisors.
DeAnn McEwen: Proposition 32 was written to limit the voice of nurses and other working people in Sacramento, while giving free reign for corporate interests and the wealthiest Californians to exert limitless influence over public policy.
Allison Mannos: Activists in L.A. can take heart from the recent turn of events in Brooklyn, New York, where a fight raged for two years against Walmart.
Ellen Brown: The economy could use a good dose of “aggregate demand”—new spending money in the pockets of consumers—but QE3 won’t do it. Neither will it trigger the dreaded hyperinflation. In fact, it won’t do much at all. There are better alternatives.
John Peeler: We need a capitalism in which no firm is too big to fail, in which corporations serve the public interest, and in which every person has a solid foundation for living a productive life..
Brad Parker: Does it not follow then that Grover Norquist, at his core; is actually the Manchurian Taxman sent to rend America asunder in the name of Chaos and not the flag bearer of Conservative piousness and the entrenched Plutocracy?
Vivian Rothstein: Most Long Beach hotel workers live, work and shop in the city. And if the hotel living wage passes, they’ll have more money to put into the Long Beach economy.