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The Big Money economy is booming. According to a new Commerce Department report, third-quarter profits of American businesses rose at an annual record-breaking $1.659 trillion - besting even the boom year of 2006 (in nominal dollars). Profits have soared for seven consecutive quarters now, matching or beating their fastest pace in history.

The Big Money economy is booming. According to a new Commerce Department report, third-quarter profits of American businesses rose at an annual record-breaking $1.659 trillion - besting even the boom year of 2006 (in nominal dollars). Profits have soared for seven consecutive quarters now, matching or beating their fastest pace in history. Executive pay is linked to profits, so top pay is soaring as well. Higher profits are also translating into the nice gains in the stock market, which is a boon to everyone with lots of financial assets. And Wall Street is back. Bonuses on the Street are expected to rise about 5 percent this year, according to a survey by compensation consultants Johnson Associates Inc. But nothing is trickling down to the Average Worker economy. Job growth is still anemic. At October's rate of only 50,000 new private-sector jobs, unemployment won't get down to pre-recession levels for twenty years. And almost half of October's new jobs were in temporary help.

ROMNEY WINS

We are emerging now from a long dream- boom, built on a mess of financial trickery rather than on producing anything worthwhile. In the Nineties and the noughties we didn't become more efficient or more productive - we simply became better at being conned. All the "triumphs of deregulation" bragged about by market fundamentalists from Ronald Reagan to Tony Blair were built on a nitroglycerine- base of credit default swaps and subprime mortgages. The profits went almost entirely to the richest one per cent, while the bill after the burst goes to all of us.

In May 2008, Josh Fox received a letter from a natural gas company offering to lease his family's land in Milanville, Pennsylvania for $100,000 to drill for gas.[1]Following the lease offer, he looked for information about natural gas drilling in the Marcellus Shale under large parts of Pennsylvania, New York, Ohio and West Virginia. He visited Dimock, Pennsylvania where natural gas drilling was already taking place. In Dimock, he met families able to light their tap water on fire as well as suffering from numerous health issues and fearing their well water had been contaminated.Fox then set out to see how communities are being affected in the west where a natural gas drilling boom has been underway for the last decade. He spent time with citizens in their homes and on their land as they relayed their stories of natural gas drilling in Colorado, Wyoming, Utah and Texas, among others. He spoke with residents who have experienced a variety of chronic health problems as well as contamination of their air, water wells or surface water. In some instances, the residents are reporting that they obtained a court injunction or settlement monies from gas companies to replace the affected water supplies with potable water or water purification kits.[2]Throughout the documentary, Fox reached out to scientists, politicians and gas industry executives and ultimately found himself in the halls of Congress as a subcommittee was discussing the Fracturing Responsibility and Awareness of Chemicals Act, "a bill to amend the Safe Drinking Water Act to repeal a certain exemption for hydraulic fracturing."[3] Hydraulic fracturing was exempted from the Safe Drinking Water Act in the Energy Policy Act of 2005.[4]Making appearances in the film are Dr. Theo Colborn, founder of the Endocrine Disruption Exchange (TEDX); John Hanger, Secretary of the Pennsylvania Department of Environmental Protection (DEP); Dr. Al Armendariz, Environmental Protection Agency (EPA) Administrator for Region 6; W

While politicians from Athens to Washington are pushing through devastating austerity programs, Argentines voted in droves Sunday to re-elect their populist, welfare queen of a president, Cristina Fernandez de Kirchner. Fernandez is the widow of Nestor Kirchner, who died a year ago after winning the award for world's best husband (Nestor decided not to run for re-election so that his wife could take a turn). But before he left office, Nestor Kirchner infuriated global elites by defaulting on Argentina's $95 billion foreign debt. Greece, facing an external debt load five to six times that amount, has decided instead to severely cut back on public spending while it works with other governments to address its debt crisis. Argentina, on the other hand, pumped money into subsidies and social programs. And while the rest of the world has been circling the drain, financially speaking, Argentina's economy has been booming, with GDP growing last year by more than 9 percent. There are a lot of learned fellows who don't approve of the economic policies of Nestor and Cristina Kirchner, but the undisputed result in the short term is a thriving economy and a landslide re-election.  −PZS