Among the superrich, there's a growing desire to freeze themselves and
their bank accounts in hopes of rising again. Talk about Groundhog Day.
New federal guidelines for banks and credit card companies that boost minimum monthly payments have wreaked havoc on American families struggling to pay their bills and avoid bankruptcy.
American business elites in Davos for the World Economic Forum are
far more interested in global markets and corporate investors than they
are in ordinary Americans' needs.
Nicholas Kristof produces a steady stream of titillating reports on
child prostitution in the Third World. Better to focus on draconian
economic reforms driven by the World Bank that create the conditions
The late socialist economist Harry Magdoff read Marx at
fifteen and never looked back. A self-educated co-editor of the
Monthly Review, he not only fought for a just and humane world;
he embodied his politics in the way he conducted his life.
It's not true that only the rich can help the poor. We must work to empower nations like
Bangladesh that are addressing the problem of hunger by creating networks of
schools, health training and micro-loans.
The election of former coca farmer Evo Morales as Bolivia's first
indigenous president appears to be an enormous victory for the left, as
yet another Latin American nation turns away from Washington-driven
economics. But will Morales be able to live up to his promise of
home-grown solutions for this cash-poor yet resource-rich nation?
The cynical restructuring plan for bankrupt Delphi Automotive calls for
massive wage and benefit givebacks for 51,000 American workers.
Governors of affected states must craft strategies to minimize loss of
jobs and income.
Interest rates nosed higher today as the Federal Reserve Board
sought to control inflation. But the impact of runaway inflation is
already being felt by workers whose wages will stagnate and whose
earning power is on a steep decline.
Marc Cooper interviews Gore Vidal about an America that is increasingly
controlled by corporations and suggests that the Gulf Coast hurricanes
and the Iraq debacle signal the breakdown of an empire.