Memo to Bernanke: Dress Rehearsal For Debt Peonage The Spend-And-Borrow Economy The Foreclosure Rescue Mirage One In Nine Americans Uses Food Stamps
"No Wage Growth; No Recovery"
By Mike Whitney
It should be fairly obvious by now that US consumers are undergoing a generational shift and will not be able to lead the way out of the recession as they have in the past. Nor will they miraculously "bounce back" and provide demand for products made abroad. Continue
Guns And Butter - Audio Interview
Dr. Michael Hudson on why the banks are returning the bailout money; bank fees and penalties; banks prefer default to foreclosure; debt as wealth; Obama's Financial Regulatory Reform Proposal and its six major flaws; the deregulation-by centralization ploy; failure to reform the economy will lead to debt peonage. Continue
By Nouriel Roubini
Governments will have to manage perceptions. Today investors remain willing to bankroll federal spending without any clear or firm indication of how the fiscal crisis--and it is a crisis of extraordinary proportions--is going to be dealt with. That won't last. Continue
By Andy Kroll
How the government’s flagship homeowner relief program hangs borrowers out to dry.Continue
By Tom Eley
In all, 34.4 million people used the Supplemental Nutrition Assistance Program (SNAP), a federal program that provides assistance to low-income people, an increase of more than 2 percent from the previous month, and a staggering increase of 6 million over the past year.Continue
Saturday, 29 August 2009
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