RECENT NEWS

Is Capitalism Doomed?

By Nouriel Roubini Project Syndicate, August 15, 2011 NEW YORK – The massive volatility and sharp equity-price correction now hitting global financial markets signal that most advanced economies are on the brink of a double-dip recession. A financial and economic crisis caused by too much private-sector debt and leverage ... Read more

The Economics of Barack O’Hoover

Obama’s Belief in the Market Economy By Paul Street Counterpunch, August 15, 2011 Pity the poor, powerless, increasingly unpopular president – a pitiful pawn of the plutocrats and the profits system he has done so much to serve and protect.  Nearly five years ago, in the misleadingly titled book that ... Read more

Courts should curb executive pay

Delaware Chancery set an example by allowing claim that Citigroup CEO?s huge severance was a waste of assets. Daniel J. Morrissey The National Law Journal, August 15, 2011   Gonzaga University School of Law’s Daniel Morrissey Social critics have long pointed out that corporate boards routinely sign ... Read more

Special interests gave millions to budget panel

By JACK GILLUM Associated Press, August 12, 2011 Sen. Patty Murray answers a question during a news conference following a visit to … View Gallery FILE – In this March 16, 2011, file photo, Sen. John Kerry, D-Mass., walks on Capitol … WASHINGTON (AP) — The 12 lawmakers appointed to a new ... Read more

Who bankrolls the Super Congress?

Nine lawmakers so far have been tapped to identify more than $1 trillion in spending cuts. | AP Photo Close By SANDY JOHNSON IWATCHNEWS.ORG, August 8, 2011 The Super Congress is taking shape: Nine lawmakers have been tapped to identify more than $1 trillion in spending cuts in an autumn marathon never before ... Read more

Lobbyist Money Flows for Catfood Commission Members

By: David Dayen FireDogLLake.com, August 12, 2011 This little bit just perfectly encapsulates how Congress is purchased by corporate special interests. Political supporters of Rep. Xavier Becerra (D., Calif.), one of the appointees to deficit-reduction committee, have already figured out how ... Read more

The S&P Downgrade Market Plunge Myth

By Dean Baker Huffington Post, August 15, 2011 The Wall Street crew that wants to cut your Social Security and Medicare benefits are sensing that victory is in sight. They have managed to knock jobs completely off the agenda and have made deficit reduction the near exclusive focus of economic policy in ... Read more

Most Americans can’t afford a $1,000 emergency expense

By Jessica Dickler CNN.com, August 11, 2011 It’s less than the cost of a car repair, but many Americans would struggle to come up with $1,000. NEW YORK (CNNMoney) — When the unexpected strikes, most Americans aren’t prepared to pay for it. A majority, or 64%, of Americans ... Read more