THE END OF ARROGANCE America Loses Its Dominant Economic Role The banking crisis is upending American dominance of the financial markets and world politics. The industrialized countries are sliding into recession, the era of turbo-capitalism is coming to an end and US military might is ebbing. Still, this is no time to gloat. There are […]
Paulson Bailout Failure: First Shot in the Next Class War Over the last 30 years the US had a class war, and the middle class lost almost every battle. Congress’s refusal yesterday to spend over $700 billion bailing out the nation’s richest people did not confirm that the US was a banana republic, as Paul […]
I was watching one of the "pretty lady" financial pundits on CNN howling that the American people don’t get it. She exclaimed that if something isn’t done, the market is going down. I was thinking she’s confused by her proximity to the market. The American people aren’t so worried about that. They’re in shock that […]
I’ve got nothing to say about McCain blaming the failed vote on Obama. The Democrats were 140+/95- and the Republicans were 65+/133-. His logic make little sense. Boehner blames things on what Nancy Pelosi said on the floor of the House: House Republicans Blame Pelosi’s Speech House Minority Leader John Boehner (R., Ohio) said that […]
The 3 A.M. Call By Paul Krugman It’s 3 a.m., a few months into 2009, and the phone in the White House rings. Several big hedge funds are about to fail, says the voice on the line, and there’s likely to be chaos when the market opens. Whom do you trust to take that call?… […]
33 Pastors Flout Tax Law With Political Sermons Defying a federal law that prohibits U.S. clergy from endorsing political candidates from the pulpit, an evangelical Christian minister told his congregation Sunday that voting for Sen. Barack Obama would be evidence of "severe moral schizophrenia." The Rev. Ron Johnson Jr. told worshipers that the Democratic presidential […]
Blowing Up In Their Faces There are many among the center-left blog community that are severely disappointed at the news that the leadership of both parties endorsed the bailout plan late this afternoon. I understand the frustration, and think it is warranted given that the problem was dumped upon the Democratic congressional leadership by an […]
How do such things happen all at once? Before September 15th, I didn’t know all of this was going to happen. I’m not a Stock Market follower, but I do read the news. Merrill Lynch, Lehman Brothers, A.I.G., Washington Mutual weren’t in my sights as going into oblivion in a short couple of weeks. $700 […]
Why is the New York Times‘ Frank Rich the columnist with the mostest? Because he’ll say what the rest of us only think on the sides of our minds. McCain’s Suspension Bridge to Nowhere For all the focus on Friday night’s deadlocked debate, it still can’t obscure what preceded it: When John McCain gratuitously parachuted […]