Americans' Income and Spending Drop, Despite Stimulus

Mark Trumbull, The Christian Science Monitor: "Household disposable income stagnated in September, and spending fell 0.5 percent, the government reported. The figures call into question the strength of the economic recovery."

//www.truthout.org/1101094



How Goldman Secretly Bet on the US Housing Crash

Greg Gordon, McClatchy Newspapers: "In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in US housing prices would send the value of those securities plummeting."

//www.truthout.org/1101095

--------

Obama Goes Wobbly Over More Stimulus

By Mike Whitney

Unemployment swelled to 9.8 percent, "with nearly nearly 26 million workers-17 percent of the workforce-unemployed or underemployed," according to economist Mark Zandi. The economy remains extremely weak and is expected to lapse back into recession if the Obama administration fails to provide a second-round of stimulus.

//www.informationclearinghouse.info/article23852.htm



Big Bad Government Is Coming to Get You

By David Michael Green

The right in America loves its canned tropes, but perhaps none so much as the 'government is evil' one. Ooooooohh! Look out. Big bad government is coming to get you.

//www.informationclearinghouse.info/article23854.htm



Propping Up a Broken Capitalism

By Shamus Cooke

Five years ago it would be unthinkable that a harsh critique of capitalism would attract a mass audience. But this is exactly what Michael Moore's new movie - Capitalism: A Love Story - has done. The source of Moore's success is his willingness to focus on what the media ignores: the human faces behind unemployment, bankruptcy, foreclosures, evictions, etc., and the faces benefiting from this misery - the corporate-elite sitting atop the financial system.

//www.informationclearinghouse.info/article23859.htm



US consumer spending falls

US consumer spending fell for the first time in five months in September, official data has shown, in a sign that a recovery from the recession is likely to be sluggish.

//english.aljazeera.net/news/americas/2009/10/2009103020222166284.html



Goldman takes on new role: taking away people's homes

Unable to identify a lender, the couple could neither capitalize on a mortgage hardship provision that would allow them to defer some payments, nor on a state law enabling them to offset their debt against separate, investment-related claims against Goldman.

//www.mcclatchydc.com/227/story/77841.html


From Information Clearing House



//freepage.twoday.net/search?q=Obama
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