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News and Notes

August 27, 2010 - Forgive me for being a tad confused. I am finding it difficult to understand why one person goes to jail for privately selling an appointment for elected office while others have a legal right to buy their elected positions. The U.S. Supreme Court says corporations are persons in terms of exercising free speech through political contributions. Other persons who behave more like corporations than persons are spending personal fortunes buying positions of power in the public sector.
August 25, 2010 - For the US economy, the bad news keeps piling up, like that 60-mile, 11-day-long Chinese mega-traffic jam. Sales of existing homes sank to a 15-year-low in July, the National Association of Realtors announced on Tuesday. The 27 percent drop surprised already pessimistic housing experts—a group of economists had told Dow Jones Newswires they expected sales to fall by just 14.3 percent. "The report shows the housing industry has hit more turbulence, is not leveling off, and is worried about a nose-dive," Mitchell Hochberg, who works for Madden Real Estate Ventures, told Dow Jones.
August 15, 2010 - According to the U.S. Department of Labor's Bureau of Labor Statistics, there are nearly 31 million people currently unemployed -- that's including those involuntarily working parttime and those who want a job, but have given up on trying to find one. In the face of the worst economic upheaval since the Great Depression, millions of Americans are hurting. "The Decline: The Geography of a Recession," as created by labor writer LaToya Egwuekwe, serves as a vivid representation of just how much. Watch the deteriorating transformation of the U.S. economy from January 2007 -- approximately one year before the start of the recession -- to the most recent unemployment data available today.

August 12, 2010 - More than a thousand people gathered Wednesday outside a metro-Atlanta shopping mall in hopes of being placed on a waiting list for federal housing assistance. Fights broke out, children were reportedly trampled, and police had to stop the crowd from storming a nightclub being used by the East Point Housing Authority in East Point, Ga, reports the Atlanta Journal-Constitution. Television station 11Alive reports that the line for Section 8 housing vouchers formed two days ago and grew into the hundreds Tuesday night.

August 11, 2010 - A strange milestone was marked this week in the history of student loans. The total balance of all outstanding US student loans (given as $730 billion in DIY U, based on OMB estimates) is now estimated by Mark Kantrowitz of Finaid.org at more like $830 billion -- $605.6 billion in federally guaranteed student loans, which have interest rates fixed and in some cases interest subsidized by the government, and a further $167.8 billion in private student loans, with interest rates that hover around 18-20%. Furthermore, Kantrowitz says, $300 billion in federal student loan debts have been incurred in the last four years.
August 8, 2010 - Over the last decade this nation has experienced a massive loss of productive and high value jobs in manufacturing, trade, and the professions sending many overseas and having many destroyed through the egregious misdirection of the self serving priorities of our financial institutions encumbering viable companies making real goods and services with untenable debt. Leveraging their assets in order to maximize profits for the financial engineers before flipping the company or taking it to market as an IPO. Too often the workers who made the company are left with little or nothing while the Wall Street "whiz kids" march off with a bundle having destroyed the vision, imagination and the hard work that went into creating these companies, to their benefit and to the detriment of its workers and society at large.
July 27, 2010 - Since the health insurance reform bill passed this past spring, you’d think we suddenly stopped having American patients die and suffer unimaginable horror at the hands of the corporate owned and operated healthcare business system in the United States.  No one tells the stories. The reality is that patients were props, and they just aren’t needed as props any more. An estimated 45,000 preventable deaths occurring in these United States annually due to the lack of access to appropriate healthcare marches on.