Group items tagged

BP bankruptcy: As the oil continues to flow and the environmental disaster continues to grow, it is a scenario that has to be given some credence.

From human evil in wars, drone attacks, and brutal mass killings, to natural disasters as in earthquakes, floods and tornadoes, many innocent people have died and many survivors spend their lives mourning the loss. Amidst all this misery, we cannot help but ask, why? Is it fair that my lovely child who still has not tasted the good things in life died while those malicious people who killed him ran away? Is it fair that a flood comes to drown a group of people while others remain untouched? However, there is a beam of hope that still manages to arise only if we think deeper within ourselves.

Hurricane Katrina was the deadliest and most destructive cyclone of the Atlantic hurricane season. Over 1,800 people died in the hurricane and subsequent floods; total property damage was estimated at $81 billion. Despite massive death and destruction, the Republicans are comparing the technical rollout of ObamaCare to the one of the gravest human disasters in the history of the country. I say the comparison is a bridge way too far.

The United Nations climate talks that seemed headed for sure disaster were saved from utter collapse behindhand Friday night in Copenhagen,

Disaster averted over Detroit.

We can have the kind of economy, government, environment, and country we want, if we keep pushing, organizing, building, and otherwise doing the work of democracy.

The anti-globalisation movement suffered a dizzying setback on 9/11. Symbolic gatecrashing into the well-guarded meeting places of the super-rich suddenly seemed a much more sinister activity than before. Busting up branches of Starbucks and other Seattle-style antics became anathema in an atmosphere of injured and vindictive patriotism. But Naomi Klein, the combative theorist and publicist of anti-globalisation, was not about to accept such guilt by association. Her reply, The Shock Doctrine, deals with the corporate acquisitiveness that she sees as ravaging the planet and reformulates the ideas of the anti-globalisation and anti-corporate movements for a post-9/11 world. Klein believes she has found the answer to a question that has perplexed many on the left: if every modern American government has been a tool of powerful business interests, what, if anything, makes the Bush administration uniquely odious? Her answer is that the Bush administration draws its political support not from America's corporate class generally, but rather from a particular part of it: 'the sprawling disaster capitalism complex'. She has in mind the companies that reap huge profits from catastrophes, both man-made and natural. They include defence contractors, arms dealers, high-tech security firms, the oil and gas sectors, construction companies, private healthcare firms and so on. Not exactly ambulance-chasers, they are driving the ambulances themselves - for a profit. For the most part, they capitalise on emergencies rather than deliberately bringing them about. But the distinction is not always so clear: the stock price of Lockheed Martin, the world's largest defence contractor, almost tripled between 2003 and 2007 after a former vice president at the firm chaired a committee agitating for war with Iraq. The Iraq war was also 'the single most profitable event' in the history of Halliburton, whose former CEO, who still retains stock options, is Dick Cheney.

The double dip of this crisis is upon us. The latest data agree: the housing market has been in full double-dip mode for five months as home prices keep declining. The foreclosure disaster keeps increasing the combination of homeless families and empty homes. Think capitalist efficiency. Unemployment rose back above 9 % again. The average length of unemployment is now 39.7 weeks, the longest since these records began in 1948. Investments by businesses are decelerating and governments keep dropping workers. 

The past three years have been a disaster for most Western economies. The United States has mass long-term unemployment for the first time since the 1930s. Meanwhile, Europe's single currency is coming apart at the seams. How did it all go so wrong?

Elizabeth Warren discusses how the dreams of the middle class american family are being depleted by the dramatic increase in bankruptcies and foreclosures. Warren discusses the role that credit card companies and ballooning interests rates have played in rapidly increasing mortgage rates as well as the how the over consumption myth is clouding our understanding of the average middle class family, who is in fact experiencing a lower standard of living than their parents and still finding themselves one payment away from losing their home. Elizabeth Warren is the Leo Gottlieb Professor of Law at Harvard Law School and chaired the Congressional Oversight Panel created to investigate the U.S. banking bailout . This program originally aired in April 2004. it is being re-aired because Professor Warren's predictions of economic disasters and the reasons for them have proven correct, and she is a candidate to head a commission to guard against recurrence. The Massachusetts School of Law also presents information on important current affairs to the general public in television and radio broadcasts, an intellectual journal, conferences, author appearances, blogs and books. For more information visit http://www.mslaw.edu

I get a little bored repeating over and over that our short-term deficit is almost entirely not Barack Obama's fault. It's mostly the fault of the Bush tax cuts, the Bush wars, and the financial collapse that happened during the Bush presidency. At this point, though, this is more in the nature of a religious debate than a factual one, and conservatives are going to keep repeating the same tired disinformation about the deficit regardless of any evidence one way or the other. Still, just on the off chance that a few people are still persuadable on this, it's nice of CBPP to update its chart showing the source of the deficit over the next decade. (Farther out than that, Medicare is largely responsible for most deficit projections.) As you can see, by 2013 or so, virtually the entire deficit is due to Bush-era policies/disasters. So cut this out and post it on your refrigerator.

Mathew Yglesias: CBPP Analysis of John Boehner's Plan: The Center on Budget and Policy Priorities concludes that if enacted, John Boehner's debt ceiling plan "could well produce the greatest increase in poverty and hardship produced by any law in modern U.S. history." That sounds to me like something that would create strong incentives to not be poor and, indeed, to fully incentive richness. Consequently, we'll have massive economic growth. Right? Think of all the old people who will be willing to do odd jobs, whatever, in order to pay for health care. No more free-riding from grandma and grandpa to slow the economy down. The CBPP adds: This may sound hyperbolic, but it is not. The mathematics are inexorable. ... In short, the Boehner plan would force policymakers to choose among cutting the incomes and health benefits of ordinary retirees, repealing the guts of health reform and leaving an estimated 34 million more Americans uninsured, and savaging the safety net for the poor. It would do so even as it shielded all tax breaks, including the many lucrative tax breaks for the wealthiest and most powerful individuals and corporations. As for the way the debt ceiling talks are going, what a disaster.

This would be entertaining if the possible outcomes weren't so serious.

The true picture of the American economy is that in 2007 there were 146 million Americans employed, or 63% of the working age population. Today, there are 139.9 million Americans employed, or 58.5% of the working age population. Over this time frame, an additional 7.1 million Americans entered the working age population. In 2007 there were 26.3 million Americans on food stamps, or 8.6% of the US population. Today there are 44.2 million Americans on food stamps, or 14.3% of the US population. To call the current economic disaster a recovery is to practice the art of the Big Lie.

Let's be clear: It was never in the political interests of House Republicans to force a government shutdown over this -- and John Boehner, who was a member of his party's leadership when the GOP suffered a P.R. disaster during the shutdowns of late 1995 and early 1996, knew it. But the House Speaker also knew that the best way to keep his fellow Republicans from insisting on one -- and, potentially, from throwing him overboard in the process -- was to extend the negotiations as long as possible, making it look like he was as hell-bent on confrontation with President Obama as they were, and to hope that influential conservatives would eventually give him cover to cut a deal. That seems to be what finally happened late on Friday night, just over an hour before funding for the government was set to expire and mass furloughs were set to begin.

This article explains the difference between a natural disaster and a corporate mishap.

Where has Obama been, and what has he been doing since the 2010 Gulf oil spill began? Golf, parties, gym, basketball, etc. Everything you would expect from this President.

President Obama's Democrat base is beginning to understand what the rest of us already knew: He is an incompetent leader on many levels.