Taking Stock of the Republicans Embrace the Dollar's Downfall The Dollar Will Not Crash The Two Americas A Reality Check From the Brink of Extinction Federal Deficit Hits All-Time High of $1.42 Trillion: What is $1.42 trillion? It's more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada's, and more than $4,700 for every man, woman and child in the United States. Foreclosures: 'Worst three months of all time': During that time, 937,840 homes received a foreclosure letter -- whether a default notice, auction notice or bank repossession, the RealtyTrac report said. That means one in every 136 U.S. homes were in foreclosure, which is a 5% increase from the second quarter and a 23% jump over the third quarter of 2008. U.S. launches aid for state, local housing agencies: The Obama administration on Monday launched a new program to help state and local housing finance agencies provide hundreds of thousands of affordable mortgages and further stabilize the depressed U.S. housing market.
By Mike Whitney
The Republicans have become deficit hawks. It's more phoniness from a party of phonies. They've decided to stake their political future on opposition to Obama's agenda. It doesn't matter what it is; they're against it. Stimulus is bad because extends unemployment benefits and keeps the states on life support. The Republicans have a better idea; let's build more bombs and slash taxes. Continue
By Dean Baker
Banks might suffer if China stopped buying US debt, but the US economy as a whole would be much better off. Continue
By Mike Whitney
What difference does it make if China and Russia are unhappy? Who gives a hoot? Toppling the dollar is going to take a concerted effort by people who truly despise the system, not the blather of malcontents who are simply envious of US power. Continue
By Andre Damon and Joe Kishore
The big banks have used government money to return to profitability and the stock market has risen more than 50 percent since last March. The market has been pushed up by investors awash in cash who have no productive outlet for their money. But its extraordinary rise is also a vote of confidence in the Obama administration by bankers and big investors who have been reassured that it is fully committed to protecting their interests. Continue
By Chris Hedges
Those who run our corporate state have fought environmental regulation as tenaciously as they have fought financial regulation. They are responsible for our personal impoverishment as well as the impoverishment of our ecosystem. Continue
Tuesday, 20 October 2009
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