Capitalism Is Dead. Now What Do We Do?
Think about this. Our government has just decided that $85 billion more of our money should be used to cover the actions of (and pardon the unsophisticated language here) stupid, greedy, criminal people.
HuffPost's QuickRead
Should The World's Reserve Currency Yield Zero Percent
We must grow the economy by empowering the private sector. I would have hoped by now we learned that inflation doesn't solve anything.
The Anatomy of the Financial Crisis and Why We Must Get It Right
The danger is that politicians, who have little understanding of the financial world, may draw the wrong conclusions from Wall Street follies and make the wrong decisions as they try to revive our financial system.
Time to Buy Gold Bars?
The acrobatics of the Bear rescue suggest the depths of the abyss that our financial leadership has dug for us. Does anyone believe that this is the last time we will hear Fed sirens wailing in the night?
Do Paulson and Bernanke Doom McCain's November Chances?
By promoting the mother of all financial bail-outs, Hank Paulson has all but mocked McCain's recent anti-bailout rhetoric and heightened a growing awareness of the disastrous Republican policies on Wall Street.
Missing Minsky
Hyman Minsky didn't live to see how closely this year's meltdowns would follow his predicted scenario, with the Lehman failure being one of several clear Minsky moments.
We Were Punked
What I and other bailout opponents have been saying is that bailout backers sensationalized a real problem to create the belief that if we didn't do something unfathomably unprecedented, the world would end.
The New Hooverites
The policies that Paulson and Bernanke did implement at such staggering cost have only begun to do their full long-term damage, which will probably come in a round of even more serious inflation.
Not a Bailout - A Rescue
If credit dries up and there is no plan, more of your neighbors will lose their homes. Those homes will sit empty because potential buyers will not be able to come up with financing.
Behind Wall Street's Collapse
In a nutshell, the Wall Street meltdown is not only due to greed and to the lack of government regulation of a hyperactive sector.
Clitoral Economics
I'm proposing a radical shift in rhetoric: Any stimulus package should focus on the poor and the unemployed, not because they spend more, but because they are most in need of help.
Lasting Homeowner Help? Try (Financial) Fishing Lessons
As a nation, we have lost our financial way. Founded in the principles of thrift, frugality, and hard work, our beloved country has morphed into a giant financial couch potato.
Congress Bails out Those Who Shower Before Work, but not Those who Shower After Work
Detroit is a place where workers are unionized; Wall Street is not. And right-wing Republicans and conservative pundits have made it clear they want the union workers to suffer.
Finding the Toilet in Stockholm
Last week a mix of water and sanitation experts gathered for World Water Week in Stockholm, Sweden to mull over the world's biggest public health crisis. The problem is that not enough people paid attention.
Celebrating Capitalism's Death? Not so Fast...
Just because you stop something old that is bad, doesn't mean you will automatically start something new that's good.
Even Warren Buffett Agrees: Bernanke Bailout Price Plan A Joke
To suggest that a tiny team of public servants can glance at the assets, determine a fair price, and then not get taken to the cleaners is absurd.
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People make comparisons to the depression but they don't work. The depression of the 30's took a while to play out, now the effects of a depression can be felt instantaneously all over the world. The moment orders are canceled factories shut down immediately. Then people are out of work, which means they spend less, which means more orders are canceled, which means more jobs are lost. It's a vicious cycle. I'd say we've been in a depression that has been spiraling downward for some time. Obama is our FDR. God help us all if he isn't.
The current economy is based on conning us into spending money that we don't have and no one is buying that drivel now. The only way that we will have any money is to save it; and the economy be damned. Only about five percent of the population benefits from the current economy anyway. I hope every bank and hedge fund goes belly-up so people will finally see that we don't need them.
Exactly right. The real economy, namely technology, engineering, production, construction, infrastructure, can re-grow only if the parasitic "sectors" like banking, funds, insurance, would disappear and get replaced by straight non-profit services (e.g. from the government).
1st the Republicans change the bankruptcy laws for individuals knowing the economy is heading to disaster. The people are distrated by the usual bread and circuses.
Next, the Republicans yell fire, the economy is going to crash and we need to give $700 Bill to wall street. The dumb Dems don't think to tie in relief for the middle class into this bill. They ignorantly state the middle class relief will be next. So, the Bush friends get their $700B gift. The gift Bush couldn't give them by privitizing social security.
Now, with the eonomy tanking the Republicans are whining that we can't give the middle class relief because of deficits. The Dems will roll over and allow the Republicans to scratch their tummy., and the middle class will shrink to nothing. We are all to blame for this fiasco.
It's all comin down baby. Better go reread your copy of "When Things Fall Apart." The rich got greedy and forgot that even the best laid plans "Of Mice and Men" get shredded. Life/God will always find a way to bring you down a few pegs
this man is a joke. he has no idea what to do . They should get him out and get someone capable in that position . But we all owe Bush and his GOP cronies a big round of applause for ruining our country--thanks for nothing you jerks