While other nations such as Japan, China and Germany have been busy providing universal health care, advanced worker training and enhanced job security, building high-speed rail networks and modern infrastructure, the U.S. has excelled at producing more super-rich individuals, pushing the definition of super wealth into the stratosphere.
Posts under ‘Economy’
Obama to Wall St. bankers: I feel your pain
If you’re wondering what’s in store for desperately needed reform of the financial industry that wrecked the U.S. economy, dealt a body blow to the world economy and threw millions out of jobs, homes, businesses and savings, the answer is: probably going down the same rat hole as health care reform.
The handwriting isn’t on the [...]
What Obama should put a freeze on
is Republican-lite policy blunders
As this post is being written, Republicans are dusting off the flip-flopper meme they employed to beat Sen. John Kerry’s presidential bid to death in 2004, to use on President Obama in 2012, all thanks to Obama’s brain-dead decision to impose a three-year freeze on domestic spending.
You can hear them already, saying, “Obama was for [...]
Nonmystery wrapped in a cellophane enigma
New York Times economic columnist David Leonhardt raises a worthy question about Fed Chairman Ben Bernanke’s likelihood of detecting a new bubble in the making, given his and his then-boss’ failure to recognize the housing bubble for the economy-trashing monster it was.
Unfortunately, Leonhardt fumbles around what was going on as the housing bubble grew to [...]
‘Bushwhacked’ a fitting name for the aughts
Our Web rambles in recent days have taken us to a couple of sites wherein someone expressed uncertainty about what to call the decade we’re bidding a not-so-fond farewell to.
After some thought, we suggest the “aughts” be nicknamed The Bushwhacked Years.
It was a time when America was not only Bushwhacked, but Roved, Cheneyed, Rumsfelded, [...]
Obama cannot heal our hurting economy
until he understands the cause of illness
Physicians take care about something known as differential diagnosis, because if one doesn’t accurately identify the source of a problem the likelihood of treating it effectively is greatly reduced.
Are those headaches a patient complains of the result of needing new eyeglasses, sinusitis, untreated hypertension or a brain tumor? A good doctor will work [...]
Banks have a political reason
for prolonging economic misery
We suspect the major banks, at least, aren’t lending because they’ve made a cynical, self-serving political calculation. If they can see to it Obama will be a failed, one-term president, the chances of replacing him with a Bush-style pro-business, antiregulation Republican are very good.
With Dems like these, who needs Republicans?
Evidence mounts that a good many “centrist,” “moderate” and “blue dog” politicians only ran and won seats as Democrats because in some corner of their pro-corporate, conservative minds they realized 2006 and 2008 wouldn’t be good years to run as Republicans.
The latest involves House so-called Democrats tipping the balance in favor of easing — [...]
Republican hypocrisy not lost on Obama
“Folks passed tax cuts and expansive entitlement programs without paying for any of it — even as healthcare costs kept rising, year after year.
“And I’d note: These budget-busting tax cuts and spending programs were approved by many of the same people who are now waxing political about fiscal responsibility, while opposing our efforts to reduce [...]
Who we don’t need as Fed chairman
— and who could do a better job
What’s wrong with Federal Reserve Chairman Ben Bernanke is the same thing that makes Treasury Secretary Tim Geithner and top Obama economic advisor Larry Summers poor choices for their high posts at this time: they’re devoted to an outdated notion that what’s good for big business and the financial industry is good for America.
That notion [...]
