How to Fix Wall Street before Another Collapse
Twelve months removed from the forced bailout of financial institutions by US taxpayers, Goldman Sachs is back to paying its employees an average annu...
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Weekly Audit: A Tale of Two Economies
By Zach Carter, Media Consortium Blogger The U.S. economy has diverged: Wall Street is living high on the hog while everyone else is struggling. The ...
Fighting for Regular Folks
The test of this president is whether regular Americans trust that he is fighting for them. Through all the complicated policy debates, and all the complicated politics, does he make choices that show he is on their side?
Underage Homeowner: Buying A House At 20
Originally published on Youthradio.org, the premier source for youth generated news throughout the globe. By: Nate Hadden Before she was old enough...
The Economic Recovery Continues
The details we learned this week about the economy add up to a simple story: the recovery is progressing. However, an economy the size of the U.S. is like a battleship; turning it around takes time.
Words From the Wise?
I just got back from The Economist's "Buttonwood Gathering" and thought I'd share a few of the more interesting quotes from the movers-and-shakers at the conference.
Left, Right and Center: Wall Street vs. Main Street, Health Care, Balloon Boy
Is the economy on the rise just because Wall Street hit 10,000 again? What about that 10 percent unemployment figure? Will there be a public option, a trigger or mandated subsidies?
The Vicious Cycle of Partisanship
Some have said that the two party system is what makes us strong. They say it helps create a balance of power with one side keeping tabs on the other...
OMG! Greenspan Goes Populist?
For Alan Greenspan, the apostle of free markets, to admit that financial free markets are not self-correcting is an enormous concession.
The Dow and the Down and Out
The top 1 percent owns more wealth than the bottom 90 percent. CEOs of large corporations earn 400 times what their workers make. That is not what America is supposed to be about.
Obama Attempts Escape in Presidential Helium Balloon
In White House news, upon hearing about the six-year old boy from Colorado who flew away in his parent's helium balloon, President Obama decided to es...
How to Live On $0 a Day: Bailouts for the Rest of Us
It doesn't really matter why you need the money, all you know is that life as you know it will cease to exist if you don't get your hands on a big chunk of cash. Yesterday.
Wall Street Treasury Complex is the Problem
An examination of the causes of the financial meltdown and proposals for reform to prevent new catastrophic bubbles from forming and bursting.
Our Ambivalence With the Arts Makes Bad Education and Economic Policy
No Child Left Behind, which bases educational success on reading and math testing, leaves little time for arts education, first in California and now in the nation at large.
Good to Know: White House "Not Cool" With Trillion-Dollar Deficits
We had the White House's Christina Romer on TechTicker this week. She says the president's "not cool" with our huge deficits.
Young in America
By most indicators young people are the most adversely affected age group by the economic crisis, the most at risk when it comes to health care coverage, and the deepest in debt.
Growing Up In Detroit: Community Organizing With Mostaccioli
Raising a big family was tough for my parents. Feeding eleven people on an auto-workers income meant everything my parents did required effort and creativity.
Hiring More People Is Not the Answer to Lowering Unemployment
Let us get something straight. People are being hired all the time. In fact close to 5% of the workforce are new every month. Our problemis that more than 5% of the workforce has been losing or leaving jobs too.
Where's the Reporting On the Fraud That Led to the Economic Collapse?
Economist James Galbraith says America's economic collapse "was the product of wide-scale criminal fraud" but that the press, instead of investigating it properly, has treated it as a 'boys will be boys" phenomenon.
Bye-Bye Baubles
I was encouraged to "bring my useless or broken gold" to an acquaintance's home, where I could "sell it all and take home cash." This was a new one for me, I've never left a social gathering richer than when I came in.
There is Something Wrong with This Picture. Insurance and Financial Services Companies Run Wild in the Main Streets of America.
The machinations of today’s US politics are enough to bring even the most hopeful to their knees in despair. Health care reform appears to have ...
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FIT,
Q) What's the definition of "a nun?"
A) It's a woman who's never had none, doesn't want none, and is never likely to get none!
Badbone I'm a Fan of Badbone I'm a fan of this user 10 fans permalink
Heck of a way to decide public policy- whoever is the best looking.
Yer talkin bout TundraGidget right? If she looked like Mary Matalin you think she'd be a contender?
I would like to apologize to dr.billybob fofor characterizing him as a basement dwelling starwars fan.
This was a childish and uncalled for personal attack and I apologize, plus it is a little unfair to starwars fans to use them as a pejorative.
can't we all just get along?
In response to earlier posts concerning the Bush 2003 tax cuts (cap gains, dividend income, marginal rates) ...
There can be little argument about the success of the 2003 rate cuts - they worked! A staggering economy surged as investment took off and Wall Street rallied. Tax receipts to the US Treasury followed, as is normally the case. For more than four years from mid-2003 to late 2007, the economy experienced a remarkable revival with tax revenues surging more than 35% to new all-time highs. That's right - HIGHER TAX REVENUES WITH LOWER TAX RATES. It’s called supply-side.
This incredible expansion in tax revenues surpassed any that was realized during any four year period under Clinton. During this period, unemployment was a relatively constant 5-6% dipping below 5% in 2006-2007. Again, better than the average under Clinton. This prosperity lasted until the banking crisis hit in mid-2007, which had absolutely nothing to do with Bush's tax policy.
But don't take my word for it ... see for yourself:
http://stockcharts.com/charts/historical/
http://cbo.gov/ftpdocs/100xx/doc10014/March2009_HistoricalTables.pdf
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=LNS14000000
where's obama's campaign pledges over wall street & banking reform? we don't need any more words full of hot air & empty promises. we need real reform.
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