By Jerry White, 8 January 2011.
President Obama’s choice of William Daley for the post of White House chief of staff is a clear signal to corporate America that his administration will dedicate the next two years to accommodating the wishes of big business for reduced regulations and taxes for corporations and austerity measures for the working class.
In the midst of the worst economic crisis since the Great Depression—with workers facing long-term unemployment and rising personal bankruptcies, hunger and poverty—the president has picked a multi-millionaire banking executive from JPMorgan Chase for …

The Economic Collapse Blog.
Although it received very little coverage in the mainstream media, Barack Obama made some comments about globalism during his speech in Mumbai, India that were very eye-opening.  As he was discussing the new realities of world trade in 2010, Obama warned against “those who see globalization as a threat” and he spoke of the “integrated world” in which we all now live.  But is merging the entire globe into a one world economy, a one world financial system and a one world labor market really the best …

By Patrick Martin.
US President Barack Obama was interviewed for nearly half an hour on the CBS News program “60 Minutes,” broadcast Sunday night. The discussion with correspondent Steve Kroft was conducted on Thursday, November 4, and was the only extended public interview with Obama since the rout of the Democrats in last Tuesday’s congressional election.
These circumstances make the content of the discussion that much more remarkable. Obama has given no accounting of the debacle for the Democrats. He has not explained how his administration managed to restore the political standing …

By Chris Hedges.
American politics, as the midterm elections demonstrated, have descended into the irrational. On one side stands a corrupt liberal class, bereft of ideas and unable to respond coherently to the collapse of the global economy, the dismantling of our manufacturing sector and the deadly assault on the ecosystem. On the other side stands a mass of increasingly bitter people whose alienation, desperation and rage fuel emotionally driven and incoherent political agendas. It is a recipe for fascism.
More than half of those identified in a poll by the Republican-leaning …

By Joseph Kishore.
On Saturday, US comedic television hosts Jon Stewart and Stephen Colbert organized a demonstration that drew over 200,000 under the slogan “Rally for Sanity.”
Participants included many young people, along with families and retirees. The general mood was one of hostility toward the right wing, and the rally was in part organized in response to one held by Fox television host Glenn Beck in August. The event was heavily promoted by liberal supporters of Obama, including the Huffington Post, which spent $250,000 to bus people in.
Many of those participating …

By Patrick Martin.
Air cargo shipments across the Atlantic and along the US East Coast were brought to a standstill Friday in a terrorism scare that included searches of cargo planes and hangars in New York, Newark and Philadelphia.
Fighter jets escorted a passenger jet from the United Arab Emirates to New York’s JFK airport, allegedly because of a single package from Yemen in the aircraft’s cargo. Canadian Air Force jets first intercepted Emirates Airways Flight 201 as it entered North American airspace, and F-16s picked up the plane at the US …

By Barry Grey.
The element of manipulation in US elections is immense. Under conditions of a political monopoly of two right-wing big business parties, legally enforced by ballot access restrictions and a host of other barriers to third party campaigns, torrents of corporate campaign cash, and the exclusion of anti-capitalist views by the corporate-owned media, elections in America have far more to do with the ruling class’s recalibration of policy and changes in its governing personnel than with the democratic will of the people. The sentiments and desires of the people …

By Paul Craig Roberts.
Does anyone remember the “cakewalk war” that would last six weeks, cost $50-$60 billion, and be paid for out of Iraqi oil revenues?
Does anyone remember that White House economist Lawrence Lindsey was fired by Dubya because Lindsey estimated that the Iraq war could cost as much as $200 billion?
Lindsey was fired for over-estimating the cost of a war that, according to Joseph Stiglitz and Linda Bilmes, has cost 15 times more than Lindsey estimated. And the US still has 50,000 troops in Iraq.
Does anyone remember that …

By Barry Grey, 6 October 2010.
US corporate profits are soaring in the midst of the deepest economic slump since the Great Depression, on the basis of a ruthless policy of using mass unemployment to slash wages and heighten the exploitation of American workers. In order to make the impoverishment of the working class a permanent feature of American life, companies are hoarding vast amounts of cash rather than hiring workers and expanding output.
These are the conclusions that flow from a Wall Street Journal analysis of second-quarter 2010 corporate profits, reported …

By the Editor.
My curiosity was piqued when a friend told me of the upcoming Wall Street documentary exposé ‘Inside Job’. It’s got some pretty good reviews, and perhaps it will pack enough punch to educate the general public about the theft of taxpayer money that constituted the euphemistically termed ‘bailout’. Online reviews have praised the film, “A wake-up call of macroeconomic proportions”, “Economics explained beautifully” – certainly sounds worth a watch.
Admittedly though, you have to be quite naive to think that a genuine expose of Wall Street could …