Blog Archive: June, 2012

We give a hat tip to Paul Krugman for recalling the infamous 2008 statement by Phil Gramm, then-presidential candidate John McCain's top economic advisor, that what Krugman is now calling more »

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Wednesday is the day that JPMorgan Chase CEO Jamie Dimon testifies before the Senate Banking Committee. He was called before the Committee (I believe the term is "invited") after it was disclosed that his bank lost billions of dollars in reckless and unregulated trades - trades which, as Dimon himself acknowledged, may have included criminal activity. more »

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I've always loathed this jerk, but he is always one of those guys who is wiling to come right out and defend the indefensible, so you have to give him a sort of credit:

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Over the years, China exported all sorts of toxic, dangerous and killer products to the United States. more »

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• MORNING MESSAGE: The Fiscal Cliff Is a Hoax
• Baucus Floats Tax Compromise
• Romney Makes It Clear: I Want Fewer Teachers
• Dimon Knew The Risks
• Breakfast Sides

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Suddenly the headlines are filled with talk of an impending "fiscal cliff," a series of tax and budget changes which the news pages say is an impending catastrophe and which the editorial pages are urging Washington lawmakers to prevent. more »

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The New York Times' Keith Bradsher reports that China's domestic economy has been stumbling of late due to a slowdown in construction and a sluggish retail market.

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Last Tuesday, Wisconsin Gov. Scott Walker kept his job, but with a high price tag. In a state of only six million people, $60 million was poured into the race, $50 million of which went to Governor Walker. And almost half of that was spent by outside groups -- most of them not based in the state of Wisconsin.

Wisconsin was not an isolated event. Since 2010, Super PACs and corporations have spent record amounts of money in elections nationwide. Corporate spending soared during the 2010 election cycle to over $290 million, four times more than the previous mid-term elections in 2006.

Rep. Keith Ellison will be a featured speaker during the "99 Elect: Building Progressive Power in 2012" plenary session at the Take Back the American Dream conference, in Washington, DC, June 18-20.  Register today, and join us for the conference.

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• MORNING MESSAGE: Building a Movement Big Enough To Win Nov. & Dec.
• "Grand Bargain" Brewing?
• Krugman, Stiglitz Criticize Spain Bank Rescue
• Romney Campaign Urges Germany To Keep Austerity
• Deportation Reform Has Little Impact
• Breakfast Sides

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The elites who make policy, write about it, have dinner parties where they cluck their tongues about it, mostly have good-paying jobs, health care and secure retirements. They are not affected by it. The elite commissions don’t include unemployed people. The Congressional hearings don't hear from regular people. The news shows don't spend a lot of time talking to regular people. more »

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