Another fallacy and myth dispelled. While many a pundit tries to deny the jobs crisis by claiming lost jobs push people into entrepreneurship, the Cleveland Federal Reserve says otherwise:
The BEA is finally giving us some interesting data in this BEA economic release, Summary Estimates for Multinational Companies: Employment, Sales, and Capital Expenditures for 2009. Their statistics show U.S. multinationals fired more Americans than those abroad during this recession, even while some of these companies were bailed out by U.S. taxpayers. Additionally, these same corporations clearly have been offshore outsourcing jobs over the last decade.
The ForeclosureGate scandal poses a threat to Wall Street, the big banks, and the political establishment. If the public ever gets a complete picture of the personal, financial, and legal assault on citizens at their most vulnerable, the outrage will be endless. (Image)
Foreclosure practices lift the veil on a broader set of interlocking efforts to exploit those hardest hit by the endless economic hard times, citizens who become financially desperate due medical conditions. A 2007 study found that medical expenses or income losses related to medical crises among bankruptcy filers or family members triggered 62% of bankruptcies. There is no underground conspiracy. The facts are in plain sight.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
We all know most of us have no representation from government and the great land grab of what's left of the money is still going to the super rich and multinational corporations.
We're not worth having around after 65, says Michael Collins. Why else would they want to kill us off?
House Budget Committee Chairman Paul Ryan (R-WI) proposed a Medicare plan that combines Social Darwinism and a bailout for health insurance carriers, even larger than the one provided by the president's health care reform legislation.
The specific features of the program are less important than the overall effect. In summary, Ryan proposes a plan that will starve most of those sixty-five and older of health care. Here are the numbers, based on Congressional Budget Office projections and elaborated by Dean Baker and David Rosnick (in 2011 dollars) (Center for Economic and Policy Research, April 2011)
The Federal government is about to settle the ForeclosureGate affair, according to a report in the New York Times on April 9. The Times noted that twelve million homes will be lost by 2012. Home equity values are down by $5.6 trillion since the real estate crash.
The draft agreement released to American Banker shows another corporate-friendly deal designed to maintain the incumbent perpetrators at the expense of the people. (Image: zoonabar)
The proposed settlement culminates an effort by federal prosecutors to address strongly supported allegations of widespread mortgage fraud perpetrated on as many as sixty percent of current mortgage holders. Homeowners were sold mortgages, serviced for the loans, and, in some cases, subjected to foreclosure and eviction based on fictional contracts and collections practices that violate the most basic principles of contract law and specific federal code pertaining to fraudulent debt collection.
Whenever there is noise in the media machine, you can be sure some agenda the American people absolutely reject will be enacted. Such is the case with the Obama administration moving forward on three more NAFTA style trade agreements with Columbia, Panama and South Korea. These are trade pacts multinational corporate lobbyists demand.
The South Korean trade pact increases the trade deficit and puts U.S. workers in more unfair labor competition. Even with a new biased USTR study, littered with fantasy tariff schedules and nebulous additional regulation requirements, cannot hide the fact this trade deal increases the deficit. The new report was requested by Republicans since they didn't like the dismal results of the previous study. Regardless of the spaghetti wording, the bottom line is imports, just in autos & parts, will increase $907 million while exports will increase $48–66 million. In other words, the Obama administration and Congress know this trade deal will increase the deficit and cause further job losses. They want it anyway.
(The image is a 2008 Obama campaign flier. All three of these trade agreements are structured like NAFTA.)
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
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