Economy

Neocons Trade Medicare for War

Exclusive: The American neocons are again on the upswing as they undercut peace initiatives from the Obama administration and gain Republican support for maintaining massive Pentagon spending, in exchange for limiting senior citizens’ access to Medicare. As Robert Parry reports, the neocons can now see the light at the end of the tunnel for their restoration…

GOP Rejects Global Warming Threat

As a current article of political faith, Republican leaders decry the science on global warming as ”junk” or a left-wing conspiracy. Even as temperatures rise around the planet and new weather patterns threaten food supplies, the GOP and its right-wing alllies refuse to face the frightening new reality, as Michael Winship notes.

Skating to the Financial Abyss

Even as another potential Great Depression looms, the U.S. political/media system seems incapable of addressing the crisis and devising coherent answers. Instead, the old partisan and lobbying games dominate the political world and obsession with trivia commands the news media’s focus, Danny Schechter writes.

Asian Alliance Supplants US Empire

While Official Washington grapples with how slowly to draw down troops in Afghanistan – and debates whether to complete the pullout from Iraq by year’s end – a new alliance of Asian states is expanding into the vacuum left by America’s decaying empire. By mid-June, the Shanghai Cooperation Organization may represent more than half the…

Making the US Economy ‘Scream’

Exclusive: Over the past several decades, Republican methods for winning national power have come to resemble CIA techniques for destabilizing an enemy country — through the use of black propaganda, political skullduggery and economic disruptions. Now, heading toward Election 2012, the Republicans appear poised to make the U.S. economy “scream,” observes Robert Parry.

Taking the Side of the Billionaires

Exclusive: America’s Right pitches itself as populist, taking the side of the common man against “big guv-mint” and “lib-rhul elites,” but its actual policies – from the NFL lockout to Rep. Paul Ryan’s budget – side with the billionaires in what amounts to an escalating class war against the middle class and the poor, Robert…

Spanish Protests Lose Their Way

The popular protests across Spain gave voice to national indignation over the political/economic system, but the result of regional elections was only to shift power from the Socialists to the center-right Partido Popular. Spanish writer Pablo Ouziel says that outcome should prompt some self-reflection among radical groups that seized control of the uprising.

Wall Street Was ‘Too Big to Jail’

HBO’s new docudrama on the Wall Street crash of 2008 details the frantic government efforts to stabilize the banking system and stave off a global depression, but the program misses the systemic fraud and other crimes that were at the heart of the crisis, Danny Schechter writes in this guest essay.

Perp-Walking the Wrong Banker?

The sexual-assault arrest of International Monetary Fund chief Dominique Strauss-Kahn touched off a frenzy of media coverage in New York, including repeated showing of the French banker looking disheveled in handcuffs. But Danny Schechter pines for the day when the Wall Street schemers who caused the 2008 financial meltdown get their perp walks.

Spain’s Tahrir Square

Angered by “free-market” policies that have created high unemployment and are now forcing government spending cuts, tens of thousands of Spaniards are occupying central squares in Madrid and other cities in a challenge to the country’s economic elites, as Pablo Ouziel describes in this guest essay.