Tag Archives: great recession

  I'm Stickin' With The Union

More Bad News For Republicans: Americans SO Gay For Labor Unions

They like representation! They really like representation!
They like representation! They really like representation! So here’s a big fuckin’ deal: Despite decades of declining union membership (thanks, “right to work” laws!), a new Gallup poll shows that, for the first time since the recession, a majority of Americans like labor unions again: Read more on More Bad News For Republicans: Americans SO Gay For Labor Unions…
  There Are Cargo Cults With Better Economic Models

Now Grover Norquist Wants To Drown Republicans In The Bathtub

Wow such current meme. Still more up to date than Norquist
There is an old saying: if you laid all the economists in the world end to end, Grover Norquist would still be wrong about everything. Still, you have to give him a lot of credit (No you don’t). In spite of the fact that only 2 percent of economists polled by the University of Chicago agree with him, Norquist is trumpeting his belief that the economic recovery did not come as a result of the economic stimulus act passed in 2009. So what did cause the recovery? Why, the spending cuts caused by the sequester and the continuation of 85 percent of the Bush tax cuts, you silly goose. Read more on Now Grover Norquist Wants To Drown Republicans In The Bathtub…
  The Human Torch Was Denied A Bank Loan

Former Fed Chair Ben Bernanke Denied Refinanced Mortgage Like Common Poor

You're getting your poverty on us, Ben
The next time you see Ben Bernanke and he’s all like, “Bro, could you spot me five bucks, bro?” do NOT spot him five bucks, bro, because Bernanke ain’t good for it. That’s not our opinion, it’s the opinion of an as-yet-unnamed financial institution, at least if you take Bernanke’s word for it. Read more on Former Fed Chair Ben Bernanke Denied Refinanced Mortgage Like Common Poor…
  let them eat bootstraps

With Nothing Else to Worry About, Congress Cuts Food Stamp Budget

Hey, remember when the economy went to hell and one in ten workers were out of a job  and millions of Americans lost their homes? That was awful, but LUCKILY rich people have completely recovered from the Great Recession (and then some!), so Congress is now finally able to tackle the very pressing matter of cutting the food stamp budget against the wishes of the American people. This is Econ 101: in the event of a prolonged economic downturn, 1. fire as many government workers as possible, and then 2. make sure Poors cannot get enough to eat so they will be forced to start a bootstrap business and become makers instead of takers. We’ve already accomplished number 1, so now it’s time to get cracking on the poors: Monday night, the Senate passed a five-year farm bill that contained $4.1 billion in cuts to the Supplemental Nutrition Assistance Program (SNAP) over ten years. This ensures that the only debate now will be about how much to cut—and it’s likely to result in cuts much deeper than $4.1 billion. Read more on With Nothing Else to Worry About, Congress Cuts Food Stamp Budget…
  citizens just cause trouble

Obama Installs Consumer Chief, Officially Makes Citizens ‘Consumers’

Citing a pressing need to legally redefine Americans as “consumers” before they get any other big ideas, President Obama today appointed his choice to lead the new Consumer Financial Protection Bureau. The appointment bypassed the Senate, because the Republican minority there won’t allow anything but tax cuts for the rich and new War Contracts. The Senate has not officially adjourned since last year, because the GOP won’t allow that, either. So the procedural fake outrage today is about the president’s authority to make recess appointments, even though Obama is appointing someone with “bipartisan support” who has been waiting for a year to go to work. What that work will entail, however, is the formal conversion of U.S. citizens to “consumers.” Considering how quickly the rights of human citizens are being signed away by this president, perhaps it is a good thing that the American people are getting a new designation! Read more on Obama Installs Consumer Chief, Officially Makes Citizens ‘Consumers’…
  our flourishing economy

Stocks Collapse Worldwide On News About Meg Whitman

Unloved corporate failure Meg Whitman was last seen insisting that she should be governor of California because goddammit, she paid $141 million to be governor of California. And now the former eBay executive has re-appeared on the public stage, with news that she will be hired to run the ruined tech company Hewlett Packard. The rumor/announcement was greeted by a global plunge in all stocks, led by a collapse in all technology shares. Why can’t she just leave Earth alone? Aren’t things bad enough without Meg Whitman? Read more on Stocks Collapse Worldwide On News About Meg Whitman…
  that's like 20 dinners at olive garden

Obama Preparing ‘Jobs Plan’ To Give $961.04 To Each American

According to somebody who telephoned CNN, Barack Obama’s jobs plan will involve somehow spending $300 billion because of tax cuts, and then people will have jobs again. No really this is what the article says. That’s $961.04 for every man, woman, transgender and child in America! Happy days are here again! Nine-hundred-and-sixty-one dollars! Enough for rent this month, plus some rice-a-roni! Read more on Obama Preparing ‘Jobs Plan’ To Give $961.04 To Each American…
  those were the days

Obama Was Supposed To Be the Kenyan FDR, But Now He’s Herbert Hoover?

Of all the “this president is like that president” games, the one that Barack Obama’s supporters were very unlikely to come up with was, “Barack Obama is the Black Herbert Hoover.” But, according to this chart showing Barry’s approval ratings for his work destroying the economy by destroying the government’s ability to pull the country out of recession/depression and instead focus all his efforts on coddling billionaires and flattering teabaggers who hate him anyway, Obama is the new Hoover! Read more on Obama Was Supposed To Be the Kenyan FDR, But Now He’s Herbert Hoover?…
  recovery.gov

U.S. Recovery Canceled Due To New, Neverending Economic Depression

The stock markets just closed in New York, hooray! (“Hooray,” because now the stock markets can’t fall any further today. But tune in tomorrow!) If you don’t care because you’re already poor — hello, 90% of America! — or you have retirement and/or investment accounts and have just been too terrified to look at Marketwatch.com, the Dow Jones Industrial Index closed down 635 points, or another 5.5% in the toilet. Wh-wh-whut’s happening? Didn’t Obama and Boehner solve the “debt crisis” or whatever made-up horse poop they invented to avoid talking about the tens of millions of unemployed workers and the stagnant/declining wages for those still hanging onto jobs and the other symptoms of our long national recovery? Read more on U.S. Recovery Canceled Due To New, Neverending Economic Depression…
  our flourishing economy

Just In Time For U.S. Default, U.S. Recession Gets Much Worse

While the Republicans try to force a default of the American Nation with such tactics as “scholarship grants are for communists,” the Democrats are engaged in an exciting game of catch-up. “Oh,” Obama might say, looking thoughtfully at his hands, “Pell Grants are communist? Well then, I offer a compromise of shutting down Medicare and turning our National Parks into private endangered-species hunting camps run by Ted Nugent. What else can we do?” Meanwhile, the U.S. Economy is rolling along — rolling down, fast. Turns out the 2008-2009 recession was far worse than economists could comprehend at the time, even though it was very clear to actual working people that we had plunged into a long and perhaps permanent downturn. And while economists are still pretending the “recovery” is something real and not just more double-your-money fun for America’s millionaires and billionaires, they’re finally admitting that once they fudge their numbers another percent, we’re actually already in a second recession. Read more on Just In Time For U.S. Default, U.S. Recession Gets Much Worse…
  brother can you spare a meal?

Obama Campaign’s New Contest: You Could Win a Plate of Food

Times are tough and getting significantly tougher, so it’s a challenge for the Obama campaign to come up with some fundraising stunts that will attract any attention in these desperate, weird times. He could put his dong on Twitter, we suppose, but that’s not exactly the right kind of attention. What the Barack Obama campaign machine needs is some kind of aspirational message, perhaps something along the lines of “Hope” and “Change” but without the actual emotion of Hope or the prospect of actual Change. Oh, we know! Have a contest, and the winner gets a plate of food. Read more on Obama Campaign’s New Contest: You Could Win a Plate of Food…
  you didn't need that stuff anyway

As American Middle Class Vanishes, Advertisers Focus Only On Richest 10%

Here’s something with a plus and a minus: Most Americans will soon be free of endless advertising and marketing campaigns, because the advertising industry has decided the only money to be made is in marketing things to the last people with money, the richest 10%. Read more on As American Middle Class Vanishes, Advertisers Focus Only On Richest 10%…
  hobo beans

Nation Needs To Replace 6,955,000 Pre-Recession Jobs; 38,000 Created Last Month

At the rate of last month’s dismal job creation, it will take more than 15 years for America to replace the 7 million jobs that vanished in this Great Recession. The awful new job numbers — just 38,000 in May when economists say the country needs at least 244,000 new jobs per month if the United States is to ever climb out of its hole — are the latest sign America is beginning a new brutal phase of the endless crisis. Read more on Nation Needs To Replace 6,955,000 Pre-Recession Jobs; 38,000 Created Last Month…
  our flourishing economy

Nearly a Third of American Mortgages ‘Underwater’

The economic recovery continues to be a complete fiction, like the Harry Potter books but without all the fun sex magick. Unemployment is officially back to 9%, with real unemployment at 22%. Energy and food costs keep rising as jobless benefits run out and wages are stagnant for the lucky ducks who still earn a paycheck. And there’s a record number of people owing more on their houses than the houses are worth: “28.4 percent of single-family homeowners, representing a peak since Zillow began calculating the data in 2009.” Throw in all the other awful economic news from America and abroad, and you might wonder if this whole system of corrupt corporate welfare/warfare thing has, you know, collapsed forever. Read more on Nearly a Third of American Mortgages ‘Underwater’…
  keep voting republican

Wal-Mart Shoppers Now Completely Out of Money

Crap merchant Wal-Mart has watched shoppers flee its grim aisles in increasing numbers for the past two years — seven straight quarters of declining sales. So what happened to this glorious monument of American Exceptionalism in the late 20th Century found on the honky-tonk mini-mall edge of every Nowhere Town, USA? Why did working/lower/starving class people stop cashing their paychecks in exchange for $24.99 Chinese DVD players and frozen slabs of factory-murdered meat? Oh right, the global financial collapse/Great Recession/End of the American Economic System of attacks on labor/redistribution of wealth to the richest 0.01%. That’s what happened. There are no paychecks anymore. Read more on Wal-Mart Shoppers Now Completely Out of Money…
  feed your kids some deficit cuts

Obama ‘Pleased’ With Budget Killing Health Clinics & High Speed Rail

Last we checked, at least 15 million Americans cannot find a job — it’s 27 million when you include those forced to work part-time when they need full-time employment, and those who recently gave up altogether. There are 10 million fewer full-time jobs in the United States today as there were in 2007, before the Great Recession began. And it’s getting worse. Never before have so many people depended on the “safety net” for help with food, housing and very basic medical care. So it’s wonderful to hear that tonight’s exciting new federal budget worked out by the White House and the Democrat-controlled Senate and the GOP-controlled House cuts “$600 million for community health centers and $2.9 billion for the development of high-speed rail.” Clinics for the desperate in need of a doctor and a big chunk of cash to get people to work laying railroad track and doing construction? Those are wonderful things to slash in Year Three of nationwide catastrophe. What does President Barack Obama say about all this, anyway? Read more on Obama ‘Pleased’ With Budget Killing Health Clinics & High Speed Rail…