A memory of a rather different time than 2009: http://www.leftbusinessobserver.com/Seattle.html
LBO issue 123 has been emailed to electronic subscribers, and is on press for the dead-tree crew. Contents: throwing money at homeowners • regulating finance: newfangled schemes • the stimulus program: how much, who’s getting it, is the debt a problem? • what comes after the Great Recession? • Iraq oil • Mishkin talks more nonsense Tastes of each: LBO 123 contents. This is the fifth on-time issue in five months! If you don’t subscribe, repent and offer appropriate monetary sacrifices at LBO subscription info.
Dubai melts Iceland, only about 80 degrees warmer? The latest sovereign financial crisis is Dubai, whose national holding company declared on Thursday that it needed to stop servicing its debts for a few months. (Wouldn’t it be nice if all of us could do that?) Dubai is a small country, less than 1600 square miles, on the Persian Gulf. It is one of the seven members of the United Arab Emirates. Its population is only about a million and a half, three-quarters of them male, and less than a fifth are citizens…. Read More
[November 12 was the first new show I did on WBAI since the fundraising began in mid-October. Most of the opening commentary was a reprise of the previous week’s analysis of the October employment report, which the New York audience didn’t hear, though the California audience did. The following are the only fresh bits in this week’s punditry.] Now, the usual words on the economic news. In general, we continue to see signs of stabilization, but no serious signs of a turnaround. I suppose that coming after such a deep recession, a… Read More
[WBAI spent most of October and the beginning of November fundraising, and my show was pre-empted much of the time. I’d been doing mostly re-runs for the KPFA version. The November 6 show was a re-run—or an “encore presentation” as they say in TV—but had this bit of fresh commentary prepended.] Friday morning brought the release of the U.S. employment report for October. Once again, less bad is what passes for good these days. The headline job loss was the best—meaning smallest loss—we’ve gotten in more than a year. But below the… Read More
A year after being pronounced dead, the Republicans are resurgent! Liberals will say that this proves that Obama must move to the left, but Obama will tack to the right. The rightward tilt will prompt a spate of anguished blog posts and Nation editorials wondering why Obama is doing it. You read it here first.