According to New York Times columnist Paul Krugman, the Great Recession was a teachable moment for Americans to learn that unregulated markets are unstable. That’s not the only thing Krugman would like Americans to learn from the latest recession, but it’s a key point that he feels was missed. Another one is that corporations don’t… Read more »
Posts Tagged: Recession
I don’t know if this means the recession is over, but according to recent data, layoffs have fallen to a two-year low, income is up and Americans are spending money. This is good news. “The flurry of U.S. data this morning suggests that households have started to pickup the baton of growth from businesses,” said… Read more »
If you listen politicians, pundits and talking heads, you’d think the greatest thing we can do to jump-start the economy is to cut taxes. But if you actually take a minute and look at the data, you’ll see that is simply not the case. New York Times Economix Blogger David Leonhardt broke down the growth… Read more »
Here’s a graph by the New York Times of past recessions and employment recovery. If the recession is over, it sure doesn’t feel like it to people who don’t work on Wall Street. This is an example of how the Democrats screwed themselves over by not effectively governing and allowing Republicans to gut their efforts… Read more »
Here are two screenshots from Rachel Maddow’s show on Friday highlighting how much the economy sucks. The private sector added jobs, but those gains were swamped by the government shedding jobs.
The liberal mainstream media has fallen in love again. This time it’s with Wisconsin’s Republican Representative Paul Ryan and his “Roadmap for America’s Future” version 2.0. Everything’s version 2.0 these days, but in Ryan’s case, his roadmap to “solve America’s long-term economic and fiscal crisis” is really more of a 1.1 version. You see Newt… Read more »
At least one Republican is campaigning on the promise that if you elect him, he will lay you off. Another Republican, Rep. John Boehner of Ohio, called police, teachers and firefighters “special interests” just looking for another handout from the government. Oh those stinking public servants putting out fires, educating children and fighting crime, they… Read more »
It’s time for some tough love folks. The sad fact is that the economy sucks and there’s nothing we can do about it within the confines of our current political system – it’s rigged. Unemployment will continue to hover around 10 percent for years, with real unemployment at closer to 20 percent. Wages will continue… Read more »
In this YouTube video mashup from yesterday’s show, Rachel Maddow exposes the hypocrisy and idiocracy of the GOP’s deficit hawk lameness.
Here are the documents regarding the hearings about the role of investments bankers (e.g. Goldman Sachs) leading to the Great Recession.
For seven months a team of investigative journalists from ProPublica looked into a story for us, the inside story of one company that made hundreds of millions of dollars for itself while worsening the financial crisis for the rest of us. It includes our original Broadway song “Bet Against the American Dream.”
The main moral you should draw from the charges against Goldman, though, doesn’t involve the fine print of reform; it involves the urgent need to change Wall Street. Listening to financial-industry lobbyists and the Republican politicians who have been huddling with them, you’d think that everything will be fine as long as the federal government promises not to do any more bailouts. But that’s totally wrong — and not just because no such promise would be credible.
Nomi Prins is a senior fellow at the public policy center Demos and she published a story today on Alternet about how Wall Street fatcats are raking in stacks of cash and up to their old tricks again while they lobby Congress to not regulate them. So far it looks like the Democrats are kind… Read more »
Regulating the health insurance was a big effing deal, but reigning in the the banks is arguably far more critical to US economic stability. As usual, Economist Paul Krugman is your guide to all things economic, and today he broke down financial reform in simple and easy to understand terms. There are three groups of… Read more »
I know many Americans hate progress, change, liberals, equality and workers, but it still surprises me when I see so many regular folks fight so hard to protect wealthy executives and corporations.
I wonder if CEOs for big pharma and health insurance companies sit around drinking scotch and laughing their asses off watching YouTube videos of all the boobs rallying to protect their positions of power.
Here is Sarah Palin’s Facebook posting made on Feb. 17, 2010. In an effort to maintain the public record, Palin’s entire message is published here. It was downloaded from Palin’s Facebook page on Feb. 17, 2010 at 11:04 a.m. Eastern. Stimulus Bill Anniversary Proves Not-So-Stimulating Feb. 17, 2010 at 7:04am One year ago today, President… Read more »
Here’s the transcript and video of President Obama’s Weekly Address. The topics are the economy, the difficulty of bipartisanship in an increasingly partisan Washington and the “pay as you go” rule Obama signed into law last night. The transcript was provided by the White House and downloaded from WhiteHouse.gov on Feb. 13, 2010 at approximately 10:15 a.m. Eastern.
President Obama held a news conference following a bipartisan meeting with House and Senate Republicans and Democrats. Here is the full transcript and complete video of the news conference. The transcript was provided by the White House and downloaded from WhiteHouse.gov on Feb. 10, 2010 at approximately 10:00 a.m.
Despite the technical glitches, White House staff answers some pretty good questions about everything from No Child Left Behind, Iran sanctions, felon voting rights, Afghanistan, carbon taxing, the bank bailouts and more.
While data and statistics don’t tell the whole story about our flailing economy and unemployment, but this chart created on Feb. 5, 2010 by the Bureau of Labor Statistics is pretty cool. Jobs are being created, even if slower than we’d like.