More from Corporate Accountability and WorkPlace ”
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The Great Debt Crisis Begins
By Hale Stewart, Huffington Post
The US economy is just at the beginning of a huge problem.
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Are we in a recession? Is recession a ‘grave and gathering’ threat? Or are we seeing a lot of overblown worries from what the Wall Street Journal editorial page likes to refer to as the “Chicken Little Set?”
Economist Dean Baker offered some perspective on that question — let’s call it the Quote of the Week:
“A near majority of economists are now predicting recessions. Economists don’t predict recessions. Almost all of them missed both the 2001 and the 1990-1991 recessions. Economists’ predictions of a recession are a lagging indicator showing that we are in fact in a recession. The economists’ predictions go along with a large collection of other data – rising unemployment rates, crashing house sales and slumping retail sales – all of which indicate that the economy has likely entered a recession. The fact that even economists now recognise the economy’s dire straights just seals the case.”
Read Baker’s whole piece, along with Sarah Anderson on the Democratic candidates’ promises to “fix” NAFTA; Max Fraser on the sorry economic state of black America; Labor Notes on the decline in unions’ bargaining power and more. Dig in!
-Joshua Holland
Editor, Corporate Accountability and Workplace coverage
Greedy Bank of America Engineers “Fake Rescue” in Sub-Prime Fire Sale
By Danny Schechter, AlterNet
Bank of America bought out Countrywide Home Loan to avoid harming its other ambitious and often avaricious strategies.
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‘Catastrophic Times’ for Black America
By Max Fraser, The Nation
Shockingly little attention has been paid to the mortgage crisis on the campaign trail.
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Conservative Judges to Enron Retirees: Drop Dead
By Robert L. Borosage, TomPaine.com
Roe v. Wade is still standing. But consumers, workers, small investors, and the freedoms of Americans are taking it in the ear.
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There Could be a Green Lining in Those Dark Clouds of Recession
By Dean Baker, Comment Is Free
If policy-makers would think outside the box, a stimulus package to mitigate the recession might have a real impact.
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Bottled Water Industry Tries to Greenwash its Image
By Tony Azios, Christian Science Monitor
After negative media reports on the environmental cost of bottled water, the industry responds with greener strategies.
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Bush’s Prescription for Plutocracy
By Sam Pizzigati, Too Much: A Commentary on Excess and Inequality
Is Washington hopelessly gridlocked? Not when the rich and powerful need help.
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Divide and Conquer: Unions Facing Tough Times
By Mark Brenner, Mischa Gaus, Chris Kutalik, Labor Notes
In recent years, working people have made huge givebacks under the gun of employers, courts, and (yes, even) union officials.
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Where Are the Working Class Heroes?
By Sean Gonsalves, AlterNet
These days we don’t want to hear from poor folk. Today’s motto is: The poor should not be seen, nor heard. It’s survival of the richest.
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‘Democracy,’ American Style
By Paul Buchheit, AlterNet
If this is democracy, why doesn’t the average wage earner receive a fair share of America’s productive economy?
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