Browsing the "Economy" Category →

8.8 million officially unemployed. Downsizing. Bankruptcies. Budget cuts. Growing debt. Any worker can tell the economy is in trouble these days. But it took Alan Greenspan, chairman of the Federal Reserve Bank, to publicly acknowledge...

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The Gas Scam

April 1, 2003

We’ve heard about Enron “gaming” the energy market – creating false shortages to spike prices and reap a quick profit. How about “gaming” in the oil market? In the build-up to the Iraq war, crude...

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While the Bush administration and its friends at Bechtel and Halliburton are benefiting from the war in Iraq, it is working people who are paying the bill. An unprecedented $79 billion have been appropriated so...

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At the beginning of this year, the capitalist media’s continual refrain was that all that was holding back the long-promised economic recovery was “uncertainty” in corporate America about the war in Iraq. However, as the...

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In mid-April, Congress gave Bush an additional $79 billion to fund the war effort – this on top of a defense budget of $400 billion. The $1.4 trillion tax cut for the rich passed in...

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The new Massachusetts governor, Mitt Romney, has confronted the state budget crisis with a big, bloody meat cleaver. Romney claims he has found over $2 billion in “waste and inefficiency” to help patch an estimated...

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“The credit system appears as the main lever of overproduction and over speculation in commerce solely because the process of reproduction, which is elastic in its nature, is here forced to its extreme limits. “And...

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