"Words that make actions speak louder."
According to Asia News, In its World Economic Outlook, the International Monetary Fund says only a new Chinese monetary policy can guarantee a global economic recovery . This is a characterization (dated April 22) of the IMF’s semi-annual World Economic Outlook, which was released last week. The April report is available at this link. So […]
The following was originally published by Politico This spring, much of Washington is afflicted with deficit allergies. The Senate had to break a filibuster just to pass a one-month extension of unemployment insurance without “paying for it.” House Blue Dog Democrats are posturing about a balanced-budget amendment on top of the president’s three-year freeze on […]
Last night, Senate Republicans proved beyond any doubt that when it comes to the economy, they stand with Wall Street and against everybody else. Joined by lone Democrat Sen. Ben Nelson (D-NE), Republicans successfully filibustered the procedural technicality of opening debate on Wall Street reform. It’s an unmistakable ploy to kill the bill and collect […]
This may be the single biggest lie in modern American history: “Most Republicans want a bill,” said Sen. Richard Shelby, “but they want a substantive bill.” We’ve criticized the Democrats plenty of times on the issue of financial reform, and the Dodd bill isn’t perfect. But this wasn’t a yea-or-nay vote about a bill. It […]
Today at the Virtual Summit on Fiscal and Economic Responsibility for People Who Did Not Wreck the Economy hosted by Campaign for America’s Future… Whose Commission Is This?: Roger Hickey flags that the White House deficit commission is working directly with chief deficit hysteria propagandist Pete Peterson to organize “grassroots” events. … the White House […]
The following is part of the “Virtual Summit on Fiscal and Economic Responsibility for People Who Did Not Wreck The Economy.” Before the White House deficit commission meets for the first time tomorrow, the two co-chairs Erskine Bowles and Alan Simpson gave a preview on Fox News Sunday. It wasn’t pretty. They claim to be […]
Last week, Larry Summers, the top economic adviser to President Barack Obama, gave a startlingly dishonest interview with PBS Newshour’s Jeffrey Brown. When asked directly why the White House was not pushing to break up the nation’s largest banking behemoths, Summers responded with a lie that rivals the recent whoppers told by Mitch McConnell. Breaking […]
A return to Eisenhower-era 90% top tax rates helps fix our economy in several ways: 1) It makes it take longer to end up with a fortune. In fact it makes people build andearn a fortune, instead of shooting for quick windfalls. This forces long-term thinking and planning instead of short-term scheming and scamming. If grabbing everything in sight and […]
A return to Eisenhower-era 90% top tax rates helps fix our economy in several ways: 1) It makes it take longer to end up with a fortune. In fact it makes people build and earn a fortune, instead of shooting for quick windfalls. This forces long-term thinking and planning instead of short-term scheming and scamming. […]
Some Americans get all bent out of shape when they hear someone label the United States a ‘plutocracy.’ But if we have an honest-to-goodness democracy, where the people really rule, then how can we explain Goldman Sachs? The outsized political role of Goldman Sachs, America’s most powerful bank, has been attracting widespread attention — and […]