Today is a historic day. The Federal Reserve gave their first press conference, ever. Below is the actual full press conference so you can watch for yourselves, in full.
Economist Dean Baker does a great call out on more fear tactics to convince your average American they must give up their health and retirement to save America:
Another fallacy and myth dispelled. While many a pundit tries to deny the jobs crisis by claiming lost jobs push people into entrepreneurship, the Cleveland Federal Reserve says otherwise:
The BEA is finally giving us some interesting data in this BEA economic release, Summary Estimates for Multinational Companies: Employment, Sales, and Capital Expenditures for 2009. Their statistics show U.S. multinationals fired more Americans than those abroad during this recession, even while some of these companies were bailed out by U.S. taxpayers. Additionally, these same corporations clearly have been offshore outsourcing jobs over the last decade.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
We all know most of us have no representation from government and the great land grab of what's left of the money is still going to the super rich and multinational corporations.
Whenever there is noise in the media machine, you can be sure some agenda the American people absolutely reject will be enacted. Such is the case with the Obama administration moving forward on three more NAFTA style trade agreements with Columbia, Panama and South Korea. These are trade pacts multinational corporate lobbyists demand.
The South Korean trade pact increases the trade deficit and puts U.S. workers in more unfair labor competition. Even with a new biased USTR study, littered with fantasy tariff schedules and nebulous additional regulation requirements, cannot hide the fact this trade deal increases the deficit. The new report was requested by Republicans since they didn't like the dismal results of the previous study. Regardless of the spaghetti wording, the bottom line is imports, just in autos & parts, will increase $907 million while exports will increase $48–66 million. In other words, the Obama administration and Congress know this trade deal will increase the deficit and cause further job losses. They want it anyway.
(The image is a 2008 Obama campaign flier. All three of these trade agreements are structured like NAFTA.)
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
Recent comments