According to Senator Jim Bunning, the proposal to purchase $700bn of dodgy debt by the US government “is financial socialism, it is un-American”(1). The economics … Financial socialism or Corporate WelfareRead more
Economics
Posted inEconomics
Dethroning finance
Over the past eight years or so, the so-called “masters of the universe” in the financial sector seem to have swallowed their own hype. Arguing … Dethroning financeRead more
Posted inClimate Disaster / Economics / Financial crisis
Climate catastrophe and financial meltdown
What happens if we fail to act in time to avert the climate catastrophe? We cross carbon-cycle tipping points, such as the loss of the … Climate catastrophe and financial meltdownRead more
Posted inEconomics / Financial crisis / USA Empire
Has deregulation sired fascism?
The government’s bailout being aimed primarily at the financial institutions rather than the homeowners who—and the defaults that are at the root of the crisis. … Has deregulation sired fascism?Read more
Posted inEconomics / USA Empire
Cash for trash
What upsets the Europeans and the foreigners is that the US plan has done nothing at all about the debt crisis itself. It’s bailed out … Cash for trashRead more
Posted inEconomics / Financial crisis / USA Empire
AIG Execs Luxury Vacation After $85B Taxpayer Bailout
A congressional analysis says the stock market decline has led to the loss of about $2 trillion in Americans’ retirement savings over the past fifteen … AIG Execs Luxury Vacation After $85B Taxpayer BailoutRead more
Posted inEconomics / Financial crisis / USA Empire
Free Lunch
Fannie Mae and Freddie Mac never originated a single loan. They certainly are participants in what went on here, but the problem was caused by … Free LunchRead more
Posted inEconomics / Financial crisis / USA Empire
Joseph Stiglitz talking on bailout
It is a disappointment, but not a surprise, that the administration came up with a bill that is again based on trickle-down economics. You throw … Joseph Stiglitz talking on bailoutRead more
Posted inEconomics / Financial crisis / Politics / USA Empire
Bailout: Ralph Nader comments
It’s not clear at all why a bailout is needed. That’s part of the stampede in the pack and the panic that Bush and Paulson … Bailout: Ralph Nader commentsRead more
Posted inEconomics / Financial crisis / Politics / USA Empire
Nothing to fear: FDR
1933. It was the middle of an era that our current moment is sometimes compared to: the Great Depression. When Franklin Delano Roosevelt took his … Nothing to fear: FDRRead more