STOCK MARKET RECORD HIGHS: THE RICH GET RICHER, EVERYONE ELSE GETS POORER… Last week saw the Dow Jones stock index shatter its all-time record highs, an occurrence trumpeted by the press and the Obama administration as a clear sign of a full turnaround from the depths of the Great Recession and proof of a [...]
THE UNITED CASTES OF AMERICA. Upward economic mobility and the basic premise of the “American Dream” have been been eradicated, argues economist Joseph Stiglitz. Decades of regressive economic and social policies — policies wholly accepted and perpetuated by the current presidential administration — have severed a large and growing segment of the country from [...]
SRI LANKA IS “COUNTRY OF CONCERN” TO BRITISH FOREIGN OFFICE FOR ITS HUMAN RIGHTS ABUSES; BUT A MAIN BUSINESS OPPORTUNITY FOR U.K. ARMS DEALERS. Expose article by U.K. Independent shows that millions of pounds worth of small arms have flown into the country, many of them used in the escalated violence of the government [...]
A renewed legislative effort to raise the national minimum wage and give a boost to the millions of Americans mired in working poverty was a featured promise made by President Obama in Tuesday’s State of the Union address. But political reality is likely to intrude on the president’s vision as familiar foes of wage hikes [...]
AFRICAN-AMERICANS: LET THEM EAT SYMBOLS. The just-past inaugural festivities highlight the yawning discrepancy between the rhetoric and reality of the situation of black Americans. Black leaders at every level from the courthouse to the White House seem to think like some modern day Marie Antoinettes. Faced with the reality of African Americans stuck in [...]
THE EURO-ZONE IN TROUBLE? PUT THE BLAME ON THE SOUTH OF ITALY. A New York Times article highlights this take on European Union economic troubles, in which northern members of the European Union tend to blame delinquencies in countries the like of Greece, Italy and Spain for their “Euro” troubles. The article describes the [...]
IN UK, THEY DON’T LAY OFF ARMY SOLDIERS: THEY JUST GIVE THEM “REDUNDANCY NOTICES.” Rumors abound of effort to overcome massive budget deficit by reducing the force to 80,000, the lowest number of Britons in uniform “since the 1770s.” With these “notices” slated to occur in December, officials are worrying about how to issue [...]
PROBLEM OF THE DAY FOR PARENTS OF 350,000 CHILDREN IN CHICAGO: HOW TO GET THROUGH A MONDAY WITHOUT SCHOOLS. Chicago Teachers Union begins a strike today as negotiations between school board and teachers breaks down. There is bitter acrimony between the Mayor, Rahm Emanuel and the head of the CTU, Karin Lewis, who calls [...]
“ITS BEHAVIOR RISKS FUELING A SPECULATIVE BUBBLE AND CONTRIBUTING TO HUNGER AND POVERTY FOR MILLIONS OF THE WORLD’S POOREST PEOPLE.” Some of the world’s largest and most influential banks and financial institutions have set their sites on the global food supply as the latest target of their ruthless quest for profits, turning the basic [...]
ANTI-POVERTY ADVOCATES CAN’T TALK ABOUT WEALTH RE-DISTRIBUTION, LEST WE BE ACCUSED OF INCITING “CLASS WARFARE.” One such advocate, Peter Edelman, who resigned from a job at the Department of Health and Human Services in protest of Bill Clinton’s “welfare reform” law, used to believe this admonition. Now, in a new book, “So Rich, So [...]
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