Working Life

    Really. When I read The New York Times editorials about the economy, or the truly shallow reporting from most of the paper’s reporters, often I think: the people at The New York Times actually are dolts. They don’t understand economics–at all. But, more often, it’s worth considering–they actually believe what they write, even if […]

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   I have, for a very long time, been very skeptical about every pronouncement of the good news about the "recovery" that seems to be around the corner each time a snippet of data comes out that political leaders grab on to to try to reassure an angry and frustrated citizenry. You can’t say that […]

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With the country facing the biggest financial crisis in 100 years, which threatens the homes, livelihoods and bank accounts of millions of working Americans, where is the labor movement? This moment fits the classic observation by community organizer Saul Alinksy that the Chinese character for "crisis" means both "danger" and "opportunity". The "danger" part is […]

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   So, let’s see if we can sum this week’s drama:    Over the past weekend, Treasury Secretary Henry Paulson says, basically, nothing to worry about, we’ve got this financial crisis under control now that we–the taxpayers–own Freddie Mac and Fannie Mae.    Opppsss…then comes Monday. Paulson says, eh, don’t worry everything is okay even […]

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   You might remember yesterday–oh, how long ago that seems as events move so quickly–that I suggested that you couldn’t trust the reassurances of either the president or the Treasury Secretary when they say things are under control and the financial system is sound. And so…look at today’s story: Fearing a financial crisis worldwide, the […]

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   Would you buy anything from this man, even an opinion?: “I know Americans are concerned about the adjustments that are taking place in our financial markets,” Mr. Bush said at a ceremony to welcome the president of Ghana. He added: “In the short run, adjustments in the financial markets can be painful — both […]

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   Yours truly is hitting the road early and so will be out of reach for the morning of all the websites and news…good thing…because when the market opens at 9, all hell is going to break loose. I’m not sure how many people on Main Street understand the deep panic underway among the financial […]

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    As I wrote yesterday, the markets around the world are in a freefall. This morning, things are looking just as grim, with predictions that the Dow will drop 500 points in early trading based on what happened yesterday and overnight in foreign markets. The Federal Reserve has just announced a 3/4 of a point […]

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    As I wrote yesterday, the markets around the world are in a freefall. This morning, things are looking just as grim, with predictions that the Dow will drop 500 points in early trading based on what happened yesterday and overnight in foreign markets. The Federal Reserve has just announced a 3/4 of a point […]

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    Across the world, while the markets here are closed, there is a melt down under way. This is a report from The Wall Street Journal’s website: Asian stocks suffered a heavy blow Monday on fears of a U.S. recession, as India’s index set a record with a 7.4% plunge and 5% or more was […]

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