'Depression Economics,' Recovery and Socialist Transition

“Depression economics” is a term that Krugman came up with over a decade ago. His main point is that monetary policy, once you get into a depression, becomes ineffective, and the only possible way to manage the economy or influence its direction once interest rates have reached zero – which, coincidentally, they are pretty close to right now.

Battlelines: The Political-economy of Recovery

President-elect Obama's economic recovery package could help create or save between 3 and 4 million jobs in a variety of job markets over the next two years, according to a report authored by Christina Romer, Obama's designee to chair the Council of Economic Advisors, and Jared Bernstein, Vice President-elect Joe Biden's top economic advisor.

Demand is Up for Emergency Food Help in Atlanta

As the economic crisis drags on, more people in the United States are struggling to get the food they need, turning to food pantries and food stamps for help at a greater rate than at any time in recent history.

US Economic Crisis: Fundamental Changes Needed

Employers cut 524,000 jobs in the months of December, the latest report from the Bureau of Labor Statistics revealed Friday, Jan. 9th. Altogether the jobless rate jumped to 7.2 percent, the highest in 16 years.

Analysis: Economic Crisis and the Struggle for Relief

What will be impact of the Wall Street bankruptcies, bailouts and blunders on working people in this country and worldwide? What's the solution to the crisis?

Response: TARP, Full Employment and Other Sticky Details

In an otherwise excellent article debunking Bush as a phony socialist [as he is being dubbed on right-wing talk radio], Joel Wendland writes the following theses that I think deserve 'a deeper look.'


Obama Reiterates Economic Stimulus Plan in Weekly Address

In his weekend video address to the nation, President-elect Barack Obama called on Congress for fast action on a plan to stimulate the US economy. Obama re-stated his plan to invest in rebuilding infrastructure, including roads, bridges and schools in order to quickly create about three million jobs.

Recession Expected to Hit Bottom in Mid-2009

The US economy is already in recession for a year and is expected to hit bottom in mid-2009, which would make it the longest recession since World War II, Standard & Poor's chief economist David Wyss said in a recent interview.

Vietnam: Gov’t Vows to Curb Economic Recession

Preventing an economic recession, maintaining economic growth and ensuring social security will be the government’s top priorities in 2009, said Prime Minister Nguyen Tan Dung.

Bush a Socialist? Don't Make Me Laugh

The Republican Party is lashing out again. This time at itself. Several media sources recently reported that at an upcoming Republican National Convention meeting a resolution has been submitted that accuses George W. Bush of promoting socialism through the Wall Street bailout.

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