Wednesday, 1 September 2010

Economists Haven’t A Clue

By Paul Craig Roberts

When the jobs have been shipped overseas, fiscal stimulus does not call workers back to work in order to meet the rising consumer demand. If fiscal stimulus has any effect, it
stimulates employment in China and India. Continue



By Mike Whitney

By the time the Republicans were swept from office in 2008, the economy was in freefall. Unemployment was rising at 750,000 per month, and all of the main economic indicators were plunging faster rate than after the Crash of '29. Continue

Four Israelis killed in shooting attack in occupied West Bank: Two men and two women, one of whom was pregnant, killed in attack that occurred around 7:30 P.M. when gunmen opened fire on victims' car.

17 Percent of America in Anti-Poverty Programs: One out of every six Americans are in government anti-poverty programs, according to USA TODAY. More than 50 million Americans are in Medicaid. Forty million receive food stamps and 10 million receive unemployment benefits.

Homelessness Up 50% In New York City: If you think you've been seeing more people sleep on city streets, statistics back up the perception. The homeless population living on New York City streets has gone up 50 percent in the past year, according to city statistics reported by the HellsKitchenLife.com blog.

Man 'sick' of poverty gets prison in Pa. heist: An Erie man who told the FBI he was "sick of being poor" has been sentenced to serve six years and nine months for robbing a northwestern Pennsylvania bank and violating his probation for another robbery.

Stranger than fiction: For Newark, it's come to this: Selling city buildings: The city is trying to sell off its buildings to win a cash windfall today, a move that will force it to make rent payments in years ahead. It’s like selling your house to grab the equity, and then renting it back from the new owner.