Ellen Brown: “Too big to fail” now trumps all. Rather than banks being put into bankruptcy to salvage the deposits of their customers, the customers will be put into bankruptcy to save the banks.
John MacMurray: A lot of the secession folks give the impression that they haven’t thought the idea through too far. Money, for instance. Like with any new enterprise, there will be some startup costs involved, and some cash flow issues.
any of the social, economic and political ills facing the United States will cost tens of billions to fix, from updating the power grid and building a high-speed rail network to dealing with climate change and revitalizing public education. Solving the problem of homelessness should be easy because it will cost billions less to fix […]
Friday Feedback: This week, go99ers comments on Ellen Brown’s analysis of another shady Wall Street practice: interest rate swaps: “This past week, ex- employee of the month Greg Smith said that Goldman-Sachs referred to our local bureaucrats and the gullible suckers at the raw end of a swindle as “muppets.” So according to them, WE are all muppets, suckers to be swindled. WOW!!!!”
Ellen Brown: The evidence to date suggests that “robo-signing” was not a mere technical default or sloppy business practice but was part and parcel of a much larger fraud, the fraud that brought down the whole economy in 2008.
Robert Reich: A bold jobs plan is also good politics. With more than 25 million Americans looking for full-time jobs, the wages of people with jobs falling, and an economy on the verge of a double dip, the President has to come out fighting on the side of average people.
Robert Reich: Chalk up a big part of Europe’s slowdown to the politics and economics of austerity. Europe – including Britain – have turned John Maynard Keynes on his head. They’ve been cutting public spending just when they should be spending more to counteract slowing private spending.
Robert Reich: Anyone who characterizes the deal between the President, Democratic, and Republican leaders as a victory for the American people over partisanship understands neither economics nor politics.
David Love: Obama can solve this whole thing tomorrow if he just calls for a new New Deal program already. But will he have the courage? Time will tell, but the President, like this sad nation, is short on time.
Robert Reich: The silence is deafening. While the rest of the nation is heading back toward a double dip, Washington continues to obsess about future budget deficits. Why?
Robert Reich: The Republican lie that the nation’s long-term budget deficit is responsible for high unemployment would be laughable if it weren’t so tragically irrelevant to the current situation.
Caitlin Vega: The same people who want to make personal bankruptcy impossible now want state and local governments to use it strategically to screw workers.
Brent Budowsky: The economic and political shock wave will be momentous as budget politics will increase joblessness and reveal with brutality that Washington is out of touch with heartland America and dominated by special interests that voters deplore.