Dan Farber: In his last year as governor, Romney refused to provide state assistance when major floods hit western Massachusetts., even though the state government had ample funds.
Kwazi Nkrumah: Overall, Americans are now carrying about $798.3 billion in revolving debt, a type of debt that is almost entirely made up of credit card balances,
Mark Naison: If I dare to dream, I can see where this collaboration between Occupy and Labor might lead—to the unionization of Wal-Mart, to the unionization of McDonalds, to the unionization of financial services workers in the nation’s largest banks.
Ellen Brown: Eliminating, reducing, or deferring student loan debt will free up the budgets of millions of students, allowing them to spend more on goods and services, increasing demand and creating jobs, and adding to tax revenues.
David Love: There is every indication that the bursting of the student debt bubble, like the housing bubble before it, is imminent. And when it happens, it will send shockwaves throughout the financial markets. People of color will be especially vulnerable.
Tina Dupuy: Could pot smokers be the only group in the history of the world to want to be taxed? To hope to be taxed? To specifically ask the government to tax them more?
Ed Rampell: The good news is that Capitalism, A Love Story is another Michael Moore instant classic, and in his considerable, 20-year-long oeuvre – which spurred revitalization of the documentary as an art form, as well as an entertainment medium — is second in quality and power only to his 2004 masterpiece, Fahrenheit 9/11.
If recent resistance by IBEW and UNITE HERE members are any indication, the Times’ BreakingNews folks and corporate America have a long way to go before convincing workers that it is they, rather than their high-paid, amply-bonused bosses, whose compensation should be downsized.
The dirty little secret on both sides of the Pacific is that both America and China are capable of producing far more than their own consumers are capable of buying. In the U.S., the root of the problem is a growing share of total income going to the richest Americans, leaving the middle class with relatively less purchasing power unless they go deep into debt.
by Brian Purnell — Last year, according to the New York Times, the average debt in the United States was $121,650, while the average savings was just shy of $450. You don’t need a PhD in Economics or an MBA to know that something is terribly wrong and imbalanced with those figures.
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 […]