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Bush recession different in size and substance
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UPDATE: This morning, GM announced layoffs of an additional 10,000 workers.
The President’s stimulus plan is, doubtless, far from perfect. But it has the support of the most brilliant economists we have, including the Nobel laureate Robert Krugman (whose chief concern is that it is far too small). Investing in the economy has the potential for paying the government back manyfold, even above the cost of borrowing.
And another ten thousand people will be bringing bad news home to their families.
Seems foolish to delay.
Tags: recession, job+loss+graph, recession+different, Bush+recession, stimulus, Krugman, Monte Asbury
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400 richest Americans’ incomes doubled under Bush tax cuts; economy collapsed
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- Image by yachtfan via Flickr
Certainly the tide has risen for the very wealthy: their fortunes have doubled. But has this “rising tide” lifted “all boats?” Has trickle-down affected your income? Can we say that business has been stimulated?
Perhaps it’s a good time to wonder why tax cuts for the rich did not result in national prosperity as promised.
Mired on the shore in our jonboats, most of us look on as the yachts head for the open sea.
Tags: rising+tide+lifts+all+boats, economy, prosperity, trickle-down, Reaganomics, Monte Asbury
Spurned by Bush, Iran again offers talks
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Tags: Ahmadinejad, Iran, negotiations, Obama, Iraq, Afghanistan, Monte Asbury
Chevron to Bush: Force little countries not to sue when we pollute
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“Speak up for the people who have no voice, for the rights of all the down-and-outers. Speak out for justice! Stand up for the poor and destitute!” – Proverbs 31:8, The Message
Update, 8-19-08, related story: Judge Rules Aceh Villagers Can Sue Exxon for Human Rights Abuses
A federal judge has ruled that a suit alleging human rights violations against Exxon committed in Aceh can be heard in a US court. Eleven villagers from Aceh say Exxon should be held liable for alleged violent crimes by military units of the Indonesian national army hired by Exxon to protect its facilities. According to some estimates, ExxonMobil has extracted some $40 billion from its operations in Aceh. -DemocracyNow!
Tags: Chevron, big+business, lobbyists, big+oil, energy, oil+dependence, environment, pollution, toxic+waste, Ecuador, globalism, trade, Monte Asbury