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 [...]
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 [...]
THE LAST THREE DECADES OF THE PECUNIARY RECORD HAVE UNDERLINED A REALITY THAT INCOME INEQUALITY IS RULE, NOT EXCEPTION, IN AMERICA. In case you were wondering what the “99 percent” are doing on the streets, here is a slap in the face courtesy the Congressional Budget Office and its examination of income growth in the [...]
By Michael Parenti Over the last two decades or more, Republicans have been denouncing as “class warfare” any attempt at criticizing and restraining their mean one-sided system of capitalist financial expropriation. The moneyed class in this country has been doing class warfare on our heads and on those who came before us for more than [...]
Do the poor and middle-class need to “share some of the responsibility” in helping to reduce America’s debt burden? Are the wealthiest Americans overtaxed? Yes, according to Sen. Orrin Hatch (R-UT), whose comments on the Senate floor last week have sparked controversy. The national embrace of government austerity and the expanding appetite among many lawmakers [...]
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