Category Archives: Economics

Geithner Rejects Call to Resign, Faults Republicans – Bloomberg.com

“I can’t take responsibility for the legacy of crises you bequeathed the country….”

The “worst financial crisis in generations” happened after “almost a decade, certainly eight years, of basic neglect of basic public goods, in health care, in education, in public infrastructure, in how we use energy.”

Tim Geithner, say what you will about him, seems to have had enough of Republicans acting like this shit economy isn’t a direct result of their stupidity.

Yes, he’s a tool of big money and I truly wish someone else had his job, but he’s right on this one.

Rachel Maddow:Slavery still has defenders?

Yeah, the GOP and their Corporate masters don’t want the government to protect consumers from items made by slave and child labor because they might lose some money on the deal. The article highlighting this evil belief in Mammon over humanity Rachel refers to can be found here.

So, not only do they hate women, Republican fascists (yeah, that’s the term for politicians who get on all fours for corporate interests) want you to buy slave-made goods so their puppet masters can save a few bucks.

Op-Ed Columnist – Safety Nets for the Rich – NYTimes.com

We cannot continue transferring the nation’s wealth to those at the apex of the economic pyramid — which is what we have been doing for the past three decades or so — while hoping that someday, maybe, the benefits of that transfer will trickle down in the form of steady employment and improved living standards for the many millions of families struggling to make it from day to day.

That money is never going to trickle down. It’s a fairy tale. We’re crazy to continue believing it.

In short, Bob Herbert notes that we really, really, really need to stop bailing out rich people. They never learn, they never share, and they can never – ever – have enough money.

Dylan Ratigan, Michael Moore Slam Wall St. Over Latest Round Of Bonuses

You know, maybe I’m wrong about Dylan Ratigan. When they first gave him a show on MSNBC I just figured he’d be extra BS time for Scarborough-style stupidity. But I’ve been off the mark on that of late.

Here he is railing against exorbitant Wall Street bonuses with Michael Moore as the banks owe us billions and millions remain out of work.

And here he is the other day calling out the head of the Chambers of Commerce for “talking nonsense”.

He also had an informative HuffPo piece on the health insurance industry last week.

Speaking of earlier, Michael Moore had an equally thoughtful article on health care reform bills.

So, hopefully, another progressive-minded voice in the wilderness, at least on a few subjects.

This was written in US Bankers Magazine, Aug. 25, 1924.

More truth from Reddit:

“Capital must protect itself in every possible manner by combination and legislation. Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible.

When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world. By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance.

Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished.”