Posts Tagged “financial crisis”

There’s been a lot of interesting political commentary going on this past week (just check out the industrious writers on my blogroll), but I admit that I haven’t felt inspired to chime in on it. Sometimes the weight of public affairs just seems overwhelming, and it helps to step back and focus on personal matters. Continue reading →

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Treasury Secretary Tim Geithner today announced a new plan that will allegedly help stabilize the financial markets, restore institutions’ balance sheets, and thus ease the credit crunch with all its attendant ripple effects. It’s an unwieldy construct with multiple parts, but ultimately a lot of it comes down to using taxpayer money to help purchase “toxic Continue reading →

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Wall Street. A term that designates not only a physical place, but a symbol, a way of thinking. It’s the capital of investing (embodied in the stock market), the capital of high finance (embodied in the banking system), the capital of… capital. It’s the hub of the economy, domestically and internationally. And it’s the single Continue reading →

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In fact, I’d go so far as to say that Obama’s address tonight may well have been the first presidential speech I’ve ever seen that genuinely lived up to the full meaning of the word “presidential.” The first time in my life we’ve had real, effective leadership in Washington. So this is what it looks Continue reading →

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While the right wing is busy spreading FUD about the economy and the Democrats’ fiscal stimulus (thereby openly opposing schools and teachers, bridges and railroads, alternative energy and environmental protection, Food Stamps and social services), and disseminating outright misinformation about what worked in the Great Depression… most of us are just struggling to keep up Continue reading →

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Boy, doesn’t that sound just too exciting for words? (Don’t drool all over your keyboard in anticipation.) See, here’s the thing. On the one hand, an old friend had made a comment in response to my recent post about the top news stories of last year, with a link to a piece from AlterNet calling Continue reading →

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A completely subjective list, of course. But what the hell… aren’t they all? Going in to 2008, one could hardly open a magazine or flip a channel without hitting a media comparison to 1968. It was 40 years ago (a nice, round number), and it was a paradigm-shifting political year that looked familiar, with an Continue reading →

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All year long, throughout an interminable political campaign season, the debate kept popping up:  “are we in a recession?” Defenders of the Bush regime insisted “no”; critics looked at the economy outside their windows and said “yes, of course”; waffling purveyors of conventional wisdom pointed to arbitrary standards about consecutive quarters of GDP shrinkage. Well, Continue reading →

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The internet has long been known as a hotbed of libertarian thinking—a bunch of rugged individualists sitting in their home offices tapping away at keyboards about their right to live unbounded lives. It has seldom spilled over into modern real-world politics, however, because there’s too much internal disagreement over what libertarianism is really about, and Continue reading →

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As I write this, the U.S. stock market has plunged downward for seven straight days. Just two days after dropping below 10,000 for the first time in four years, the Dow dropped below 9,000 for the first time in five years. That’s a 39% slide from its historic high of 14,000, set only a year Continue reading →

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