Republicans Caused the Major 2008 Recession & Economic Downturn
Two states plus Washington D.C. can follow in the footsteps of Colorado and Washington state by voting in favor of fully legalizing marijuana with ballot initiatives, this mid-term election cycle. The states that have decided to have their electorate vote on ballot measures this time around are: Alaska, Oregon, and Florida.
When is it time to throw in the towel and accept that the tide has turned? Napoleon must have asked himself this very question after being humiliated in the Battle of Waterloo and summarily exiled for the remainder of his life. It's also the same question many anti-gay marriage activists must be asking themselves after the Supreme Court refused to wade back into the gay marriage debate.
Hundreds of thousands of people flooded the streets of New York City today to warn the world that humans are killing the planet and insist that something has to be done to fix it before it becomes too late.
Several months behind Colorado, but still only the second state in our union to do so, Washington state has begun to officially sell recreational marijuana. Sales began on July 8th. As with Colorado, the first day of sales was largely celebratory and more historic in nature, than anything else.
Back on November 6th, 2012, the bold states of Colorado and Washington passed ballot measures alongside the last presidential election process to fully legalize marijuana.
Last night on the Charlie Rose Show, Treasury Secretary Timothy Geithner said something that doubtless sent a shiver through financial markets. He said, "Capitalism will be different." It is the most elegant way of putting it that we've heard so far.
n the current issue of Hamburg’s highly respected weekly Die Zeit, economics editor Fabian Lindner takes a look at an important study of the U.S. economic downturn done by Kenneth Rogoff, the International Monetary Fund’s former chief economist who now teaches at Harvard, and Carmen Reinhardt, a well known capital markets expert at the University of Maryland.
Have you ever wondered just what caused the deep recession that the United States is in? Many people believe it was the meltdown of Wall Street and the financial industry. That was the trigger that began the recession, but was it the true cause of it? Robert Reich has a very good article in The Nation that the folks over at Alternet have reprinted. Reich agrees that the Wall Street meltdown was the trigger to the recession, just as the Wall Street disaster in 1929 triggered the Great Depression. But the real cause of both the current recession and the Great Depression was the absurdly lop-sided distribution of income.
Our economy can't thrive when the richest 1% get an ever larger share of the nation's income and wealth, and everyone else's share shrinks.
Herbert Hoover Copycat: How the Current Financial Rescue Schemes are Following Hoover's Failed Model - The Huffington Post
In a few days, we’ll reach the fifth anniversary of the fall of Lehman Brothers — the moment when a recession, which was bad enough, turned into something much scarier. Suddenly, we were looking at the real possibility of economic catastrophe.
It had been billed as a showdown: David Boies, the famous litigator, grilling Hank Paulson, the former Treasury Secretary, about the September, 2008, bailout of American International Group, which Maurice (Hank) Greenberg, A.I.G.’s former chief executive—and the man who hired Boies—claims illegally expropriated the firm’s stockholders, himself included. In the event, Paulson’s appearance in the U.S. Court of Federal Claims, in Washington, D.C., was a bit of an anticlimax. Far from apologizing for the terms of the loan that the Federal Reserve extended to A.I.G., which included the government’s taking a large equity stake and charging, for a while, a punitive rate of interest, Paulson repeatedly said that they were entirely necessary, and in the public interest.