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.
Robert Reich: Whatever the outcome of the upcoming midterm elections, the activist phase of the Obama administration has likely come to a close. The President may have a fight on his hands even to hold on to what he’s already achieved because his legislative successes have been large enough to fuel strong opposition but not big enough to strengthen his support. The result could be disastrous for him and congressional Democrats.
Randy Shaw: Many believe that Hollywood films provide escapist entertainment, and should not be seen as sending political messages. We are told that studios are about making money, and that they would make tribute films to Karl Marx if that were good for the box office. Well, the historic record and the films of 2010 say otherwise.
Robert Reich: We’re unlikely to see a repeat of the disastrous Smoot-Hawley tariffs that worsened and lengthened the Great Depression. But you can forget trade-opening agreements. In Toronto last week, the G-20 leaders dropped their 2009 pledge to finish the Doha round this year. In the U.S., agreements with South Korea, Panama, and Columbia are languishing.
Articles by Anthony Samad, Gil Troy, Paul Hogarth, Seth Hoy, Carl Matthes, Andrea Nill, Randy Shaw, Tom Degan, Marcy Winograd, Seth Hoy, Mark Bowen, Gary Coseri, Michael Sigman, Tom Hall, Sharon Kyle, Robert Reich, Tom Degan, Sikivu Hutchinson, Adam Eran, Carl Bloice, Shamus Cooke, and Tina Dupuy
Joseph Palermo: In 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown , Simon Johnson and James Kwak point out that in September 2008 the high-flying masters of the universe were at their weakest point and had no choice but to do whatever the government demanded of them. Never mind the supreme irony of Wall Street bankers who claimed government had no place interfering in the miracles of the market begging the government to save them, it was at that time when we should have cut them down to size.
Robert Reich: The economic lesson President Obama ought to be teaching is that targeted tax cuts, mostly for small business, are good to the extent they give businesses a nudge toward creating more jobs. But businesses won’t begin to create lots of jobs until they have lots of customers. And that won’t happen until lots more Americans have work. The only way to get them work when businesses aren’t hiring is for government to prime the pump.
Something, anything, has to be done at some point to show that the Obama Administration is not just the latest group of good people with good ideas that are absorbed into a system that makes Hamid Karzai look like a clean government activist. The corporate money so clogs the arteries of our body political the whole damn thing is sclerotic, choked off from the life-giving oxygen of democracy.
Great pessimism during economic busts is as characteristically American as great optimism during boom times. The oh-ohs’ whateverism is less fleeting and thus more dangerous. A culture of denial, disengagement, dissociation is dysfunctional. We need a culture of engagement and responsibility, even with all our traumas, distractions and high-tech toys.
The public doesn’t know what’s going on because the national media would rather report on the sexual escapades of famous people or social trends or high finance (a recent Pew study of economic reporting shows the vast majority of stories about the Great Recession have focused on Wall Street rather than Main Street).