‘Government Sachs’ Strikes Gold ... Again
By Robert Scheer
Connect the dots: Goldman Sachs made $3.44 billion in profit this past quarter, while the U.S deficit topped $1 trillion for the first time in the nation’s history and appeared to be headed toward doubling that figure before the budget year is out.
Since most of the increase in the federal deficit is due to bailing out the banks and salvaging the greater economy they helped destroy, why is the top investment bank doing so well? Continue
The Joy of Sachs
By Paul Krugman
The American economy remains in dire straits, with one worker in six unemployed or underemployed. Yet Goldman Sachs just reported record quarterly profits — and it’s preparing to hand out huge bonuses, comparable to what it was paying before the crisis. What does this contrast tell us?
Goldman Sachs Posts Record Profits
Matt Taibbi Probes Role of Investment Giant in US Financial Meltdown
By Democracy Now - Audio and Transcript
Goldman Sachs, the nation’s most powerful financial company, has reported the richest quarterly profit in its 140-year history: $3.44 billion between April and June.
We speak to Matt Taibbi, whose new Rolling Stone article argues that “Goldman Sachs has engineered every major market manipulation since the Great Depression.” Continue
Can The Economy Recover?
By Paul Craig Roberts
There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.” Continue
How Bad Will the Economy Get?
Really, Really Bad
By Thomas Greco, Jr.
Historically, every financial and economic crisis has been used to further centralize power and concentrate wealth.
This one is no different, and in fact the moves being promoted by the Obama administration and the central banks of the Western powers will take the whole world to the pinnacle of financial despotism -- unless enough people wake up and claim their own "money power.” Continue
Making Money Available at Zero or Nominal Interest
Taking Populism Seriously
By Adrian Kuzminski
The populist impulse of today, widespread but fragmented and disorganized, is what's left of a once proud and impressive mass political movement in this country.
In its heyday, in the 1880s and 90s, fifty populists from the People's party, were elected to the US Congress, with many others winning state and local offices. Such a showing by a third party today would be cataclysmic.
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