Truthdig: Drilling Beneath the Headlines

May 27, 2017 Disclaimer: Please read.
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Tag: Economy

Economist Joseph Stiglitz on Trump’s Budget: ‘It Doesn’t Make Any Economic Sense’

The Nobel Prize-winning economist joined Amy Goodman on Democracy Now! to discuss the president’s $4.1 trillion budget, which was unveiled Tuesday.

Posted on May 24, 2017 WATCH & LISTEN
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Hit Him Where It Hurts


Can a boycott movement to damage President Trump financially change the political landscape?

Posted on May 24, 2017 READ MORE

If China Can Fund Infrastructure With Its Own Credit, So Can We


While American politicians debate how to finance needed fixes and which fixes to implement, the Chinese have funded massive projects across their country.

Posted on May 21, 2017 READ MORE

Trump Signs ‘Tremendous’ Deals With Saudi Arabia on His First Day Overseas


Included are $110 billion in American arms sales and other agreements that the Trump administration said will create hundreds of thousands of U.S. jobs.

Posted on May 20, 2017 READ MORE

Elizabeth Warren Challenges Steven Mnuchin Over Glass-Steagall Remarks (Video)

The Massachusetts senator slammed the treasury secretary for his confusing statements during a Senate Banking Committee hearing Thursday.

Posted on May 19, 2017 WATCH & LISTEN

Noam Chomsky Looks at How the System Is Rigged to Ensure That Corporations Always Win


The philosopher’s new book, “Requiem for the American Dream: The Ten Principles of Concentration of Wealth and Power,” is a primer in his analysis of the faults of the American political and economic system.

Posted on May 17, 2017 READ MORE

The Shrinking Oil Industry


Many of the oil services companies employed when new fields are developed have been laying off workers, and oil companies have been taking write-downs of their assets.

Posted on May 16, 2017 READ MORE

Senators Speak Out for Net Neutrality


In the past week, 25 senators have signed letters denouncing FCC Chairman Ajit Pai’s plan to scrap rules that allow equal access to internet content. Among them are Maggie Hassan (pictured left) and Maria Cantwell.

Posted on May 13, 2017 READ MORE

Richard Wolff: U.S. Economic Education Gives the Illusion That ‘Everything Is All Right’ (Video)

The renowned Marxian economist condemns American education for purposely keeping people in the dark about how the economic system works and how it threatens them.

Posted on May 11, 2017 WATCH & LISTEN

The American Way of War Is a Budget-Breaker


It’s a reasonable bet that never in history has a society spent more on war and gotten less bang for its copious bucks.

Posted on May 10, 2017 READ MORE

Trumpcare Is a Transfer From the Sick and Poor to the Rich and Healthy


Shame on every one of the 217 Republicans who voted to repeal the Affordable Care Act on Thursday and substitute basically nothing.

Posted on May 7, 2017 READ MORE

Yanis Varoufakis: Basic Income Will Be a Major Part of Any Attempt to Civilize Capitalism (Video)

“Think of basic income as a trust fund for all our children,” the Greek economist said at an acTVism event, “to be financed by dividends from our aggregate capital—which was, after all, created collectively.”

Posted on May 4, 2017 WATCH & LISTEN

Trump Seems to Think Americans Have Forgotten What They Lost in 2008 (Video)

By Robert Reich / RobertReich.org

The president has ordered a rollback of Wall Street regulations, including the Dodd-Frank Act, passed in 2010 to prevent another too-big-to-fail banking crisis.

Posted on May 3, 2017 WATCH & LISTEN

Cut [a cartoon from the Netherlands]









Posted on Apr 27, 2017 ENLARGE

Don’t Fall for Trump’s Corporate Tax Giveaway


The president wants to cut the corporate tax rate from 35 percent to 15 percent in order to “make the United States more competitive.” This is truly dumb, for five reasons.

Posted on Apr 27, 2017 READ MORE

Trump’s Tax Plan Draws Immediate Criticism From Progressives


The plan prompts allegations of conflicts of interest and excessive benefits to the wealthy.

Posted on Apr 26, 2017 READ MORE

Emmanuel Macron and Marine Le Pen Advance to French Election Runoff


Whether France will stay in the European Union or head for a “Frexit” largely comes down to which of the two leading vote-getters will prevail May 7.

Posted on Apr 23, 2017 READ MORE

The Financial Diaries


A new book explores the lives of families dealing with financial uncertainty and volatility.

Posted on Apr 14, 2017 READ MORE

The Menace of Trump and the New Authoritarianism: An Interview With Henry Giroux


The renowned intellectual and social activist analyzes the underlying forces of authoritarianism in the U.S. and Europe and argues the need for resistance.

Posted on Apr 13, 2017 READ MORE

White House Insider Javier Palomarez Is Not the Hispanic Community’s Martin Luther King Jr.


Once an outspoken critic of Donald Trump, the U.S. Hispanic Chamber of Commerce CEO now may be a misguided opportunist in the president’s national diversity coalition.

Posted on Apr 13, 2017 READ MORE

Many Reasons to March Against Tax Injustice


There are two Americas: one that pays taxes for the public good and one that works hard to pay as little tax as possible. It’s clear which one President Trump serves.

Posted on Apr 13, 2017 READ MORE

As French Election Nears, a Bernie Sanders-Style Candidate Rises in the Polls


The threat of proto-fascist Marine Le Pen continuing the trend started by Brexit and Donald Trump’s victory is tempered by the possibility that a socialist—Jean-Luc Melenchon—could prevail.

Posted on Apr 11, 2017 READ MORE

The Truth About Trumponomics (Video)

By Robert Reich / RobertReich.org

Building an economic wall around America is not the way to make its workforce more competitive.

Posted on Apr 11, 2017 WATCH & LISTEN

Financial Reports Reveal Extent of Trump Team’s Wealth


News organizations join forces to publish White House staffers’ income and holdings, exposing potential conflicts of interest.

Posted on Apr 1, 2017 READ MORE

National Insecurity


Voters drawn to Donald Trump because they believed he would rein in interventionism abroad and deal with festering problems at home are in for a disappointment.

Posted on Mar 31, 2017 READ MORE

The Real Problem With Dave Chappelle’s Transphobic Jokes


The comedian’s Netflix show is generating criticism; the president had a crash course in how government works; and economists are exploring rising mortality rates among middle-aged white Americans.

Posted on Mar 26, 2017 READ MORE

The Dirty Secrets of the Global Hair Trade


Supplying the rich with hair from poor women and children is not “meeting a need” but creating a demand.

Posted on Mar 22, 2017 READ MORE

The Culture of Cruelty in Trump’s America


The repressive state and market apparatus of the 19th century have returned with a vengeance, producing new levels of aggression and violence in U.S. society.

Posted on Mar 22, 2017 READ MORE

Trump’s Budget Proposal Underscores His Lack of Concern Over Climate Change


If anything, proposed cutbacks to environmental programs are more extensive than expected.

Posted on Mar 22, 2017 READ MORE

John Oliver Uses the President’s Own Words to Show That the Trump Budget Is a Bad Deal (Video)

The “Last Week Tonight” host critiques the proposed budget by reading from “The Art of the Deal.”

Posted on Mar 20, 2017 WATCH & LISTEN

A Last Chance for Resistance


Unless we act now, Americans will remember 2017 as the year their naive belief in the recovery of democracy died under the heel of despotism.

Posted on Mar 19, 2017 READ MORE

U.S. Pressures Group of 20 Into Dropping Climate-Change Reference From Joint Statement


Finance ministers of the world’s leading economies, defying German leadership, have removed a clause about funding, a G-20 official tells Reuters.

Posted on Mar 19, 2017 READ MORE

Rising Above Racism Is Imperative for Human Societies


Scapegoating immigrants absolves the true culprits—neoliberal capitalism and corporate greed—from blame. But this is too simplistic.

Posted on Mar 16, 2017 READ MORE

Pages From Trump’s 2005 Tax Return Make News, With Fanfare to Spare (Video)


It took nearly a half hour on her Tuesday night telecast, but MSNBC’s Rachel Maddow eventually relayed the news she’d hinted about ahead of time.

Posted on Mar 14, 2017 READ MORE

Snapchat’s Hometown Protests Company’s Presence


Snap Inc. just had a profitable first day trading on the stock market, but one Southern California neighborhood is fighting the gentrification that comes with hosting a tech giant.

Posted on Mar 3, 2017 READ MORE

Exposing the Myth of the American Dream (Video)

A new two-part video documentary reveals the divided nature of the United States—and the dissatisfaction with corporate power.

Posted on Feb 28, 2017 WATCH & LISTEN

Republicans Launch Bicameral Salvos Against Wall Street Watchdog


Legislation introduced by Sen. Ted Cruz and Rep. John Ratcliffe would kill the Consumer Financial Protection Bureau.

Posted on Feb 15, 2017 READ MORE

Why Are My Highly Educated Friends so Ignorant About Trade?


Many young people understand next to nothing about one of the most important issues the world faces.

Posted on Feb 11, 2017 READ MORE

Democrats Jump the Gun in Accusing Trump Administration of Easing Russian Sanctions


Although top Democrats criticized the president for revising sanctions, a change announced Thursday was common protocol.

Posted on Feb 3, 2017 READ MORE

‘Spectacular Betrayal’ as Trump Rolls Back Wall Street Regulations


The president is set to scale back the 2010 Dodd-Frank financial-overhaul law and roll back an Obama-era financial regulation.

Posted on Feb 3, 2017 READ MORE

Trump Can’t Make America Great Again Without Immigrants (Video)


People like Donald Trump strategist Steve Bannon are doomed to disappointment if they think white birthrates can fuel the country’s economic growth.

Posted on Feb 1, 2017 READ MORE

From Tweet to Trade War? Trump Upends U.S.-Mexico Relations


It takes the president less than a week to create a major rift with one of the nation’s neighbors and chief trading partners.

Posted on Jan 26, 2017 READ MORE

We Were Warned About Barack Obama—by Obama Himself


The 44th president’s service to the rich and powerful was foretold, and not just by leftist “carpers.” This is history that matters.

Posted on Jan 16, 2017 READ MORE

Billionaire Carl Icahn Will Lead Trump’s ‘Deregulatory Charge,’ Consumer Advocate Says


Robert Weissman, president of the group Public Citizen, declares that Icahn “epitomizes predatory corporate capitalism.”

Posted on Dec 22, 2016 READ MORE

Donald Trump’s ‘Half-Blind’ Trust Scheme Is Called Absurd


The president-elect’s creative solutions for staying in the financial loop while seeming to keep his distance once again are drawing fire from his critics.

Posted on Dec 21, 2016 READ MORE

Why Liberal States Won America’s Tax Experiment (Video)

By Robert Reich / RobertReich.org

For years, conservatives have been telling us that a healthy, business-friendly economy depends on low taxes, few regulations and low wages. Are they right?

Posted on Dec 12, 2016 WATCH & LISTEN

Carrier









Posted on Dec 11, 2016 ENLARGE

How the Twinkie Provides a Blueprint for Amassing Wealth


Highlighting a deal involving Hostess, the company known for its sweet baked treats, an investigation by The New York Times shows how private-equity executives expanded their fortunes.

Posted on Dec 10, 2016 READ MORE

The Art of the Trump Deal Is to Use Sticks and Carrots to Get Big Corporations to Do What He Wants


Don’t be fooled into thinking Trump is being guided by anything other than his own random, autocratic whims.

Posted on Dec 7, 2016 READ MORE

Jobs









Posted on Dec 5, 2016 ENLARGE

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