…. just a couple of years ago at an “economic summit” in NY called together by Senator Charles Schumer, one of the presenters made a case as to how and why the US would be a third world country within 20 years. I do not know how compelling a case he made but he was not the first to “connect the dots”, to see the signs of our national decline. There is no conspiracy. We have done this to ourselves and we continue to be our own worst enemies.
Tag: featured
LETTER: Not optimistic about progressive causes
I sincerely wish that I could see some light at the end of the political tunnel, but to use an overworked cliché the only light I can see is that of an express train coming toward us. Although the relevant polls on the subject show that the public is significantly opposed to the United States Supreme Court’s decision in the Citizens United case permitting unlimited and undisclosed corporate or organizational funding in favor of or against candidates for electoral public office, I do not see a way forward to act on that sentiment.
Allegheny County defends sex-offender limits
From the PITTSBURGH TRIBUNE-REVIEW: Allegheny County officials tried to convince the state’s highest court Tuesday that the county has the authority to restrict where registered sex offenders can live. Assistant county Solicitor Craig Maravich argued to the seven justices that the Allegheny County ordinance prohibiting registered sex offenders from living within 2,500 feet of child care and community centers, county parks and schools does not conflict with Pennsylvania’s Megan’s Law….
PPP poll: Sestak evens it up with Toomey
PUBLIC POLICY POLLING: Raleigh, N.C. – The race for Senate in Pennsylvania has seen dramatic movement over the last two months and Joe Sestak has now taken the slightest lead over Pat Toomey, 46-45. On PPP’s previous survey of the state, in mid-August, Toomey led by a 45-36 margin.
AOL
“The circus came to town Monday night, a seven-ring affair that featured candidates for New York governor. Though voters may have expected a spirited exchange between the two frontrunners, Andrew Cuomo and Carl Paladino, what they’ll likely remember are the self-described madam who provided escorts to Eliot Spitzer, the former Black Panther and, most of all, the ‘Rent Is Too Damn High’ Party candidate.
The Fed’s new bubble
From ROBERTREICH.COM: The latest jobs bill coming out of Washington isn’t really a bill at all. It’s the Fed’s attempt to keep long-term interest rates low by pumping even more money into the economy (“quantitative easing” in Fed-speak). The idea is to buy up lots of Treasury bills and other long-term debt to reduce long-term interest rates. It’s assumed that low long-term rates will push more businesses to expand capacity and hire workers…
FINANCIAL TIMES
“A senior member of the Federal Reserve has warned that the US economy is in a ‘liquidity trap’ and signaled support for more action to boost the recovery.
Charles Evans, president of the Chicago Fed, said that ‘in my opinion, much more policy accommodation is appropriate today’ because ‘the US economy is best described as being in a bona fide liquidity trap’, a point where ultra-low interest rates and high savings rates conspire to make monetary policy ineffective.
SUNDAY NEWS
In “You’re making too much money”, columnist Gil Smart defends minimum wage on the moral ground of “…how will they pay their bills” and without minimum wage: “Consumer spending constitutes 70 percent of GDP [Gross Domestic Product]. Consumers won’t be spending so much if their paychecks are slashed.”
FDA Approves Once-A-Month Injectable Drug to Fight Opiate Addiction
DRUG WAR CHRONICLE: The US Food and Drug Administration (FDA) announced Tuesday that it had approved a once-a-month injectable drug for use in treating opiate addiction. The drug, marketed as Vivitrol, is a form of naloxone, an opioid atagonist that blocks the action of opioids on brain cells and is currently used in responding to overdoses.
Inquirer: Hershey deal merits investigation. Then how about LGH?
An editorial in the Philadelphia Inquirer calls for an invesetigation by Tom Corbett, Attorney General:
“Revelations regarding the questionable expenditure of millions of charitable dollars by the trustees at the Hershey School deserve a thorough investigation by the state.
Charting the Foreclosure Crisis’s Far- Reaching Consequences
From AOL NEWS: Even as the consequences of the ongoing foreclosure crisis slowly unfold — and the ultimate impact is yet unknown — it’s not too early to tote up a list of 10 potentially important developments that have already happened. (For more background, see my recent DailyFinance article “The Foreclosure Crisis: Eroding Trust — and Ending the Recovery?”)
The Foreclosure Crisis
From the NEW YORK TIMES: … The big weaknesses in the administration’s main antiforeclosure policy is that participation by lenders is voluntary and homeowners have little leverage to get better terms — especially reductions in loan principal when the mortgage balance is greater than the value of the home.
Ike’s Leadership Celebrated on 120th Birthday
From NEWSMAX: Liberals called him a “do-nothing-president.” Well they may be right if you consider not getting us into a war, like Kennedy and Johnson, as doing nothing. Eisenhower ended the Korean War by threatening to deploy a nuclear weapon if North Korea did not end their hostilities.
PA-Sen: Sestak takes the lead
DAILYKOS.COM: Hart Research for the DSCC. 10/8-10/10, 604 likely voters. MoE 4.0:
Sestak (D): 47
Toomey (R): 44