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Additional Thoughts on the Bailout
"We hang the petty thieves and appoint the great ones to public office" - Aesop
By Paul Craig Roberts
Just as the Bush regime’s wars have been used to pour billions of dollars into the pockets of its military-security donor base, the Paulson bailout looks like a Bush regime scheme to incur $700 billion in new public debt in order to transfer the money into the coffers of its financial donor base. Continue
The End of Friedmanite Economics
By Mike Whitney
"We are in the midst of a major historic turning point, equivalent to the emergence of neoliberalism under Thatcher and Reagan" (interview with economist Robert Pollin) Continue
Capitalism Without Capital?
By Ron Paul
Not only is our nation on the verge of bankruptcy, but so are its people and private institutions. We are now repeatedly hearing about businesses “needing to access the credit market to make payroll.” This is an unmistakable sign of more dire consequences ahead for the economy. Continue
Americans Unwilling to Face Reality
By John R. MacArthur
Even with all the frenzied commentary about the credit crisis now choking the media (while the financial geniuses assembled at the corner of Wall and K Streets scramble to save their hides), I’m struck more by what’s not being said than what is. - Where, for example, is the voice of organized labor? Continue
The American Way of Life is Dead…
By Stanislav Mishin
he era of the dollar is over and with it US power. The dollar has been in a steady free fall for the better of the past 6 years, faster than the steady decline of the preceding 30 years. How is it, that with a prolonged war, costing close to $1 trillion, no new taxes have been raised? Well, that's what printing presses are for and why since 2004, the Fed has stopped issuing the M3 report. Continue
Nearly 30% of US Families Subsist on Poverty Wages
By Tom Eley
A report released Tuesday by the Working Poor Families Project reveals that more than 28 percent of American families with one or both parents employed are living in poverty. Continue
Home Prices Seem Far From Bottom : Home prices across much of the country are likely to fall through late 2009, economists say, and in some markets the trend could last even longer depending on the severity of the anticipated recession.
Birmingham on the brink (of bankruptcy): With $3.2 billion in debt, the county that is home to Alabama's largest city is about to go bust. How the credit crisis went South.
As crisis bites, more Americans turn to food stamps: While penny-pinching among the wealthy may help draw attention to poverty issues, living on food stamps is a devastating reality for millions of Americans -- and the numbers are growing to alarming levels.
As Budgets Tighten, More People Decide Medical Care Can Wait: To monitor the multiple sclerosis attacking Ann Pietrangelo's central nervous system, her doctor recommends an annual MRI. Last year, the 49-year-old Winchester, Va., woman had to pay a $3,000 co-payment to get the imaging done.