Congress voted Monday on a package designed to rescue the financial industry and pull our economy from an expected major downturn. It failed by 12 votes.
Tag: economy
Letters to the Editor for the Week of October 2 – 8, 2008
Maller Down on Wall Street Bailout Plan Editor, Like all Americans and indeed the entire world I have watched with fascination the financial turmoil of the past weeks and months.
Nicholas F. Benton: Global Financial Meltdown
It’s becoming unclear which will bring the McCain candidacy down faster or harder: the economy or Sarah Palin.
The Peak Oil Crisis: Summer’s End
While waiting to see how much damage this week’s hurricane will do, it is a good time to review recent developments in the world’s petroleum and economic situations for their relevance to peak oil.
Nicholas F. Benton: The Consumer Credit Crunch
“We’re trying to come to grips with the end of a 20-year secular credit expansion that went parabolic in the last six years,” the chief North American economist for Merrill Lynch said on national TV yesterday.
Jim Moran’s News Commentary
The housing and credit crisis has left no community untouched. Odds are someone in your neighborhood has already fallen behind on their mortgage payments. For those whose mortgages have not stretched their budgets past the point of breaking, it’s tempting to rest in the belief that your neighbor’s struggles are […]
Jim Moran’s News Commentary
Tuesday marks Earth Day, the annual event reminding all Americans that a livable, sustainable world cannot be achieved without action. In the last year, the New Direction Congress has taken up that challenge, beginning to reverse the old, failed energy policies of the past, breaking ground on new measures to […]
The Peak Oil Crisis: The Case for 2008
It is conventional wisdom for most of the people following the peak oil story that we still have a few years to go before the real troubles begin. Some say 2011, others 2015 or later, but in general, among those calculating the depletion vs. new supply balance most have been […]
Paul Krugman: Why Is America Feeling So Bleak?
The Survey Research Center of the University of Michigan has been tracking American economic perceptions since the 1950s. On Friday the center released its latest estimate of the consumer sentiment index — and it was a stunner. Americans are more pessimistic about their situation than they have been for more […]
Paul Krugman: Taming The Beast
We’re now in the midst of an epic financial crisis, which ought to be at the center of the election debate. But it isn’t.
