For years and years a minority of savvy people would ask themselves, “Just how long can this go on?” The “this” was lending people money that they were not earning enough to repay. Now we know. Now the question is not how long can this go on but how come it went on so long. Read More
Nicholas von Hoffman
The tale of the C.I.A.’s torture tapes grows longer, more twisted and interlaced. The list of question grows apace, too.
What part did members of Congress play? When were these tapes showing C.I.A. agents inflicting pain on their captives destroyed? Who destroyed them? On whose orders? What were the motives for doing so? Or Read More
While cam-paigning, Barack Obama is often heard to quote his wife, Michelle, saying, “We are not that far away from being normal.” He then goes on to explain that it was only five years ago that he and his wife were still struggling to pay off their student loans and were wondering how they could Read More
This is no time for trade union idiocy, but we’ve got it anyway. The International Alliance of Theatrical Stage Employees are back at work, but employers succeeded in making the case that this union struck for what used to be called featherbedding. Featherbedding is a union contract that includes paying workers for not working. In Read More
A couple of weeks ago, during a Democratic presidential debate on MSNBC, two men claiming to be journalists threw wilted lettuce and decomposed organic material at the candidates. Judging from the questions aimed at the candidate/victims, the purpose of the networks sponsoring these debates is to bait, bully and embarrass while giving the news celebrities Read More
In business circles these days people speak of “the real economy” as contrasted to whatever the hell is happening downtown on Wall Street. Perhaps Wall Street is the name for a virtual or playland economy.
Evidently some kind of convergence of the real economy and the other one occurred recently when it was announced Read More
Since there is no rule requiring the United States to finish one war before starting the next, with each passing day the bookies are shortening the odds that Iran will be next. No war will have less justification in light of the number of chances the U.S. has been offered to settle its differences with Read More
“Now,” Alan Greenspan told The Wall Street Journal the other day, “it turns out politics is less important, domestically, than it was, because globalization is taking over an ever increasing part of the decision making process with the exception of national security.”
This is a fancy-dancy way of saying, “You foolish little persons can Read More
Now he tells us. Alan Greenspan has come out from behind the cloud of gas where he had hidden himself for the past couple of decades to say in public what he should have said years ago when it might have mattered.
In his book, Mr. Greenspan complains that the Bush administration paid little Read More
The tiresome boast put forth by secretaries of the treasury, stock exchange executives, Wall Street C.E.O.s, their economists, their consultants, their think-tankers, their B-school professors and suck-up business journalists is that Wall Street is the “world’s most efficient capital market.”
Exactly what we are to take that to mean is rarely explained. We are Read More