The politics of progress; cleantech, the economy, antiwar
Doug Henwood on Bernanke
Why is this guy getting reappointed? He let the bubble inflate, dismissed worries about the dangers of subprime mortgages and derivatives, said in mid-2008 that the recession was unlikely to get too serious (just as it was about to get very serious)—and then, when everything fell apart, set about writing big big [...]
The New York Times shows what side of the class war they are on by explaining that US workers really are just so overpaid, something Fenian Rising finds obnoxious. So do I.
Washington’s Blog has been running a provocative series of posts about the possibility the US might start a war to get out of the recession. He thinks the argument is bogus, that war in fact creates recessions rather than ending them, but that hasn’t stopped such wars from occuring in the past. In other words, [...]
“We let failing banks go bankrupt, Lord
We didn’t bail out General Motors
Give me that old time recession
It’s good enough for me”
Merle Hazard
More of the ghost ships, anchored tankers hidden where they hope you won’t see them. Zero Hedge mashes up more data to track ships idled by the recession.
But maybe no one told him about The ghost fleet of the recession.
Henwood is an economist / author who regularly gets quoted on economic matters in Alan Ableson’s column in Barron’s and also runs the hard left LBO-Talk listserv.
Excerpts from the interview in The Brooklyn Rail.
Henwood: I didn’t expect a massive transformation from Obama. I knew he had a lot of support in Wall Street and is [...]
Matt Taibbi at Rolling Stone thinks so, saying Goldman helped create then profit from all the great bubbles.
But Daniel Indiviglio at The Atlantic says otherwise. Goldman is a major player, but hardly the only one. But he then goes on to basically excuse them, because, y’know, they’re smarter than everyone else and also because regulation [...]
From the Rockefeller Institute comes news of devastating shortfalls in state income tax revenue.
In FY 2008, personal income tax revenue made up over 50 percent of total tax collections in six states — Colorado, Connecticut, Massachusetts, New York, Oregon, and Virginia. Personal income tax revenue declined dramatically in all six of these states for the [...]
Seeing how difficult it is to find a job right now, the last thing you need is some ridiculous bird or skull tattoo on your neck or forearms or anywhere visible, wrecking your job interview.
Thus, the tattoo removal business is thriving.
I know several lawyers with major tattoos. But when they’re wearing business suits with their [...]
Jan 21 photo by dvergur
The current PM says he will not run. This is a direct result of their financial crisis and the growing protests.
From Perspective
Peaceful and prosperous were two words you would have used to describe Iceland. Now the island faces ruin as the credit crunch has wiped out banks and rendered the currency [...]
No, I mean really dreadful.
Bad news for housing, autos, eBay, chipmakers, and more
Banks too.
Even Google and Microsoft are laying off workers, as the unemployment rate keeps rising.
China is in recession now too.
Rising unemployment usually translates into political unrest. In the Great Depression, FDR created a jobs program and defused the situation. Some said he was [...]
Cisco’s new outlook calls for a revenue decline of 5%-10% next quarter. The Street was looking for +6%. October was apparently awful. Worldwide.
It is increasingly clear that the global economy fell off a cliff at the end of September, around the time that the global credit markets ceased functioning.
Cisco sells to huge corporations across the [...]
Looks like a grim Christmas season, both for retailers and for websites that generate revenue from Google ads. With sales down, advertisers are cutting back on search engine advertising.
So, for those wondering, why did my Google income drop off a cliff in September, now you know.
