Did an interview with RT Today on the meeting of the International Monetary Fund, and on the ways that IMF and World Bank policy reflect the same combination of austerity economics and a 'liberalized' financial sector that we're seeing here and in Europe. The video is here: more »
Economic policy has faced grave challenges over the past two years, hamstrung by obstructionist Republicans in the U.S. Senate and Wall Street-friendly advisers in the Obama administration. With the Republican Party now in control of the House, it seems certain that any major action to create jobs will face tremendous obstacles. This is a global calamity. more »
Wall Street, conventional wisdom has it, likes legislative gridlock. Stock prices tend to go up when Election Day results in the two major parties splitting power. As a USA Today story recently noted, “In the words of many Wall Street analysts and economists: Gridlock is good.” more »
Rep. John Boehner, the perpetually tanned House Minority leader, unveiled his plan to get the economy going today in a speech before the Cleveland City Club. Hold on to your job; if he becomes speaker, things will get worse.
Americans have grown fearful. Most believe, not surprisingly, that the country is headed in the wrong direction. For the first time ever, most Americans believe their children may not fare as well as they have. We spend nearly as much as the rest of the world combined on our military, chasing phantoms across the world. Conservatives in both parties rail about debt and deficits. more »
salon.com — The "new economy" touted by the Clinton administration acolytes was an illusion. Neoliberals have to admit that before they can stop the bleeding. Yet the Obama administration's economic team is made up of recycled Clintonites, the very people who misunderstood the actual trends in the U.S. and global economy for the past 20 years.
The daily Progressive Breakfast serves up what progressive movement members need to know to start their day. Bill Scher is traveling; he will return Monday.
Thursday's news that the nation's gross domestic product grew at an annual rate of 3.5 percent in the third quarter comes with a lot of asterisks. A few of them:
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