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Economic Apocalypse

economic news and information

Pachigordo99's picture

VICTORY LAP – I TOLD YOU SO

I’m generally not one to brag or tell others “I told you so” but after reading more and more articles by other bloggers, writers, pundits and commentators over the past 5 years, I should claim to be some sort of clairvoyant.

More and more people have felt over the past 10 years that the U.S. was not just becoming more oligarchical, but was already an outright Oligarchy. My pessimistic view of the nation was finally vindicated.

“Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens” was a report released this year that used extensive policy data collected between 1981 and 2002 to determine the oligarchic state of the US political system. The study stated “…the preferences of the average American appear to have only a minuscule, near-zero, statistically non-significant impact upon public policy.” Read below the fold...

DCblogger's picture

Tweet of the Day

V. Arnold's picture

Russia prepares to attack the petro-dollar

It would appear Obama has finally done it; his economic sanctions against Russia has apparently been the catalyst for China and Russia to start selling gas and oil with regional currencies being used, not dollars.

Given that Saddam Hussein and Muammar Gaddafi were both attempting the same scenario, it would also seem that Putin's maneuver could spark armed conflict.

This is by far the most dangerous time, IMO, in the last 2 decades.

I'm worried Obama won't blink and I'm pretty sure Putin won't. Read below the fold...

DCblogger's picture

IMF sponsored class war

DCblogger's picture

Why does Alan Krueger have a job?

letsgetitdone's picture

Still Not Over: CPC Update

The Congressional Progressive Caucus (CPC) recently issued its “Better Off Budget” document as an alternative to the White House/OMB document, and the coming House budget document, a Republican/conservative alternative. The “Better Off Budget” has received enthusiastic evaluations from writers affiliated with the DC progressive community. Richard Eskow's recent treatment is typical and provides other reviews that are laudatory. These “progressives” clearly see the CPC budget as anything but an austerity budget. But is it, or is it not? Read below the fold...

DCblogger's picture

Douglas S. Culkin leadership FAIL

Doug Culkin, is President and CEO of the National Apartment Association. Read below the fold...

letsgetitdone's picture

The TPP: A Dangerous Proposal Whose Time Has Gone

A recent, very good post at Naked Capitalism by Clive, suggests:

. . . Dear readers, you may think that writing to your elected representative, commenting negatively on articles you read in the mainstream media about the TPP and generally kicking up a bit of a fuss, making some noise, is a waste of effort. That is not so. The world does watch what goes on in the US. If popular sentiment is against something, the US government has a much harder job of convincing foreigners that it’s just them being awkward and reactionary and not getting the big, progressive, reform-minded, modernising picture.

I agree that this is a good proposal for one way the American public could register its objections to the Trans-Pacific Partnership (TPP) with foreign leaders. But, I think that such letters ought also to point out that even if the TPP were railroaded successfully in the next few months, then it is unlikely to stick. After all, it is only a Treaty. Wouldn’t an electoral victory here by a movement dedicated to overturning corporate control of the political system, result in withdrawal from the TPP before any concrete legislation likely to conflict with it was passed by Congress? Read below the fold...

DCblogger's picture

Tweet of the Day

DCblogger's picture

Boycott your state's lottery

I have been searching for a club for the 99%, and I think I have found it in state lotteries. Lotteries suck money out of poor neighborhoods. Most of the money goes to the winners and the companies that run the lotteries, states receieve something like only a third of the money spent on lotteries. The vast majority ot the tickets are purchased by the poor. Therefore a lottery boycott would be an excellent anti-austierity tool. The people of Detroit could boycott the Michigan lottery until the austerity measures are ended. Read below the fold...

DCblogger's picture

Why Greg Smith left Goldman Sachs

I recently finished Greg Smith's Why I Left Goldman Sachs: A Wall Street Story, and I highly recommend it. I did not expect to like him, a South African immigrant who worked at Goldman Sachs did not strike me as a sympathetic character; but I was utterly charmed. Read below the fold...

Food Stamp Families to Lose 16 Meals a Month

The Supplemental Nutrition Assistance Program a/k/a “SNAP” a/k/a “food stamps” is about to be DRASTICALLY slashed on November 1st.

I wonder how our President and our Congress members can look themselves in the mirror each day.

Seriously.

Our media spokespeople don’t like to concern themselves with poverty and hunger, either, which enables the callousness of the politicians. Talk of poverty, of hunger, bums out their viewers and makes their corporate sponsors uneasy. Read below the fold...

DCblogger's picture

Obama as Harold in The Long Good Friday

letsgetitdone's picture

Rationalization and Obligation, Part I: No Magic Bullets?

The media and politicians in both parties are still largely echoing the Administration's framing of the fiscal situation and absolving the President of his share of the blame for the debt limit crisis. They're reinforcing his message They're also preparing the way for a compromise, that will, almost certainly, result in hurtful cuts to Government spending including renewed consideration of "the Great Betrayal," also known as “the Grand Bargain,” including passage of the chained CPI cuts to Social Security over the objections of a large majority of the American people.

The mainstream news outlets still haven't seriously questioned the President's claims that There Is No Alternative (TINA) to just facing down the Republican's shutdown and debt ceiling related threats without giving in or resorting to any options to de-fang the debt ceiling threat. They have begun to mention other options, but in a way that is largely supportive of the President's reluctance to use them. In reinforcing TINA, the mainstream is allowing the President to escape from responsibility and obligation, while, ironically, allowing him to characterize himself as “the adult in the room.”

When it comes to our repeated and unwelcome debt ceiling crises, President Obama is like the person who says he has a problem, but when confronted with a variety of options for alleviating or even solving the problem, comes up with some rationalization about why each will not work. After awhile, it becomes obvious that the person with the problem doesn't want any help help solving it, but actually loves having it, and is fixated on a single objective having little to do with solving the problem (“the Great Betrayal”), that is very difficult to get, and wants to claim that there is no alternative, because, as the problem produces more and more negative effects he/she will be able to push through that objective. Read below the fold...

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