Yes it is good journalism. I fault it like many stories in the relativities that it portrays. The article makes punchy points, but doesn't make the obvious point, that is, the spending should be occurring at the federal level, not the state level as part of a "depression avoidance" plan. There is no mention that military spending is another US$30-50 billion AHEAD of the record US$480 billion spent in a record year of private homebuilding. The infrastructure spending is laudable and just what the country needs to avoid depression (from the implosion/collapse of the banking system of endemic fraudulent lending and speculative now proven worthless investment banking executive and dealer bonuses, that cannot be recovered, but thats ... More »

Nice try from some guest writers, but typical of "ivory tower" thinking. Misses the big picture; the two GSE's have subsidised the banking industry by removing market risks and replacing them with an implicit government guarantee. It also misses the point of the "emperors new clothes" aspectof the rescue, these two GSE's can issue an unlimited amount of their own debt and get the Fed to replace it with Government paper. Let's leave aside the fact that the article is factually incorrect in that GSE's bought sub-prime portfolios, bundled to be AAA, but how about some intelligent thinking about how much of sub-prime lending was forced on the private sector because these dinosaurs of "free market meddling" crowded out main street ... More »

About as appalling a piece of journalism you could invent. All about the complete banality of a sycophant playing up to readers he hopes will keep paying him to throw out complete tripe. Still I guess he can go back to watching Gerry Springer when he is done.

The growing and desparate need to rectify the flagrant mismanagement of the economy during bush's reign as king george the vii'th or gregorius ceasar is spelled out in black and white. Impoverishing the USA by corrupt means (sponsoring of illegal occupation in iraq, ignoring the geneva convention, and handing out billions to the military junta and coporations that played his game) leaves a legacy epitomised by the farce that is the pentagon. Imagine schoolyard bullies running the country, and if you think thats extreme, consider that the pentagon takes almost 60% of all tax revenues and compare that with banana republics and other military junta that have come and gone on other countries. Maybe there is a political candidate who ... More »

Reality bites. The big picture is lacking, city taxes and energy costs are captured in overall inflation, not in inflation measures for those in retirement. But at least the author is attempting to provide some clues. Bottom line from this is that health will cost 1 million bucks in retirement. Factor in the same amount for heating/air con, travel, food and there is a hint that at last, the dawning conclusion is that "the house" is not the largest ticket item in a persons life, it is now cash flow provision in retirement.

hmmm..well lets see..did the author actually quote the rate of inflation as the cpi ubnsa or cpi ex or the feds preferred measure the pce consumption deflator within gdp and ask why the government can borrow at less than the reported headline cpi? or question whether the headline cpi is an accurate guage of inflation when the whole world except the BLS and the Fed are experiencing sticker shock at every supermarket and gas station? sure the reports cite sources like the fed strip pricing in an increasein fed funds rates and a few sage canadian banks calling that too early to throw the towel in..but the big picture is sadly lacking. ask the welfare and pension beneficiaries for who the correct measure of stagflation is vital how ... More »

hmmm..well lets see..did the author actually quote the rate of inflation as the cpi ubnsa or cpi ex or the feds preferred measure the pce consumption deflator within gdp and ask why the government can borrow at less than the reported headline cpi? or question whether the headline cpi is an accurate guage of inflation when the whole world except the BLS and the Fed are experiencing sticker shock at every supermarket and gas station? sure the reports cite sources like the fed strip pricing in an increasein fed funds rates and a few sage canadian banks calling that too early to throw the towel in..but the big picture is sadly lacking. ask the welfare and pension beneficiaries for who the correct measure of stagflation is vital how ... More »

finally!! bravo the alternet..insight, asking questions, provoking thought, leading the intellect! bravo bravo bravo! we finally have one of the obvious questions being asked..the next ones might go further and proscute the military for not accepting surrender..before the invasion! hey oil might still be 30 bucks a abarrel!..bravo the alternet, bravo vincent!! keep your eyes onthis guy!

bravo ..the truth..but again..journalism that comments and doesnt solve...or provoke or suggest the unthinkable ..that there are prosecutable crimes being perpetrated by polticians against those who cant defend themselves..why not suggest that the politicians need to stand trial for war crimes, crimes against humanity over iraq and racketeering over handing jobs to their cronies in the corporate sector, human rights abuses over americans in jails over a faulty plea bargaining system (take a low guilty plea,but lose innocence first, not last) and endemic racial bigotry throughout the education system..this article does an excellent job of articulation and, although further along, does a very poor job in substantive provocation ... More »

This a great story, it actually gets to a reality that is being hidden and not discussed in any depth. The point that is missing is that it avoids the painful truth, via complacency amongst the voters, that corruption is the outcome whenever improper accounting occurs. This story has the potential to make Watergate look like a crossed line. I look forward to the time when our reporters actually go under cover for the real story within the pentagon which to me sounds very much like, generals get half to shoot off their big guns and half goes to the pentagon backed corporate mafia that siphons their bit off to their buddies and then says, hey "I know I can organise the logistics of a full theatre battlegroup, but please don't ask ... More »

although a little tonguein cheek, the author does highlight the dislocation between reality and fantasy that an elitist big government run by corporate america has caused socially. It is a pity thatno solutions are offered but as a commentary, at least it isnt all "eyes wide shut" pandering to a coffee table audience that has no interest in lifting anyones living standards.

Well let's see, the fact that the government will go broke in 20 years because of irresponsible fiscal discipline (e.g. war in iraq, defaults on health and welfare promises, failing to rebuild infrastructure, need for a new economic model because of the logistics of handling 300 million aging people) an assumption of an 8% rate of return when the 30 year government bond is only 4.5% with inflation about to blow out to 8% (oil and food, though not "core" inflation, roll my eyes) all outside of personal financial control comapred with a very simple truth - the easy path to savings (put aside per month what you want to live on when you retire (1,000 bucks a month when you are 50 for 1,000 bucks a month when you are 70) is the ... More »

yes it is..the start of a novel even..along the lines of orwells 1984 (originally 1948) . We can all pray that (along the lines of Orwells "Big Brother is watching you" the internet has shown that there is a positive side to communciation flow) there is a flip side to the complete incompetence of successive bush and clinton policies and that someone with reagans stature, gores brains and carters morals will be there to lead the way away from the military junta and police state, paid for by the corporate special interest groups whose only role in life is to safeguard an elite. I think there is a flip side..and the writer has done a good job in highlighting real numbers..debt up by 8 trillion less GDP only up by 4 = 4 trillion ... More »

Yes it is great journalism. It challenges, suggests, motivates and stimulates informed opinion. Bravo, if you heck my other reviews, I think you may take the view that I am cynical in general about journalistic quality. This article should be compulsory reading not just because of the Pope Jean Paul (deceased) views but because the farce that passes for editorial content needs to be challenged. I will pay for a news service that has unbiased news and attracts no advertising. I am sure that there are many millions who would too. Bravo! Encore, Encore Encore

It is in the sense they ran the story..not good in that they couldnt emphasise the scale of racism evident

At last, some facts. Of course, the questions asked of political part supporters can't be couched in terms that get to the nub of the matter, but at least we have an idea now that the idiots running for presidential nomination will at least have a poll that will force them to act in a particular way. Of course theharder question to have been asked by Gallup woudl have been, does America have any valid place to impose its will in any country, given its failure to run its own economy without corruption, but hey..it's a start. I wonder when it will be possible to ask such a political question by appealing to the conscience and actual knowledge of those being asked, I doubt whether most even know which countries border Iraq, let ... More »

I thought that good journalism exposed hypocrisy, presented a clear summary and a way forward. The real story lies the behind the share price manipulation that saw supposed stable organisations shares rising 75% off lows in two days at a time when they are increasing the balance sheet exposures into a known toxic dump. Why did the share prices drop so much and why did they bounceback so far so fast? To me the real story is the lack of power of the SEC to catch onto the rigging of share prices by a chosen few large share price manipulators. Of course, that might be too controversial, but nonetheless, it would at least ask the question. As far as I know, the well known defrauding of the tax payer (by passing a subsidy to bank ... More »

Sometimes one just despairs at the lack of cause and effect thats displayed by journalism, maybe its mischievous but why on earth does the story not focus on the fact that poppies are grown in huge fields and that there are many fields of poppies in afghanistan. Two items should have been suggested, one that the west is sponsoring the taliban to grow poppies to dope up its recalitrant youth and secondly, the western military (mainly the "new reich" american storm troopers) have the technology to wipe out all the poppy fields overnight, but don't because they make money out of heroin (either directly by selling and shiiping it, or indirectly by getting more tax payers money to (not) fight the growers). It might generate a bigger ... More »

The article provides an insight into the thinking of one players, albeit one who had "loose lips" as far as the Bush "group think" administration was concerned. Lindseys analysis highlights the fundamentally flawed strategic thinking that lies behind the American system of determining foreign policy and the acolytes whose stars rise and fall, depending on the ego of the encumbent President and the self-perpetuating arrogance of an overstaffed and overfunded state department military and intelligence community, as far as foreign affairs is concerned. The issue (to me at least) is touched on by Lindsey, but is not directly addressed. To compare a stance on a world (1941-1945) or civil war (1861-1865) with the economic impact of a ... More »

well if journalism is about dragging up a view from a twenty year period and expressing it as a critique of what went wrong without suggesting what should be done..then journalism is about historical record not editorial..this lame duck dry drunk president represents one of the easiest targets for any poltician or political party..the fact that the democrats dont challenge shows that the real story is that politicians of any persuasion have no interest in changing the status quo....the real story is that america spends 50% of tax revenue on defence instead of health education and welfare..at home..in the USA..and it is getting progressively poorer because of it...much the same way as the Roman, British and Russian "empires" fell ... More »

Great journalism..this guy should be a national icon for revealing the true shock and awe of a president who lied to his people and comdemned a foreign country already punished by 12 years of sanctions to its knees. It only lacks a reference to Hans Blix (the UN weapons inspector) to prove a non_US centric version of events. Bush/Blair have shamed their own people and have brought back memories of Hitler/Mussolinie. The truth is almost being told here.

The gutter press of global capitalism shows a paucity of knowledge that is simply staggering. Perhaps the journalist also reported that the US was about to cease trading with China beacuse of Gramm Schuman. China does not yet have itsown government debt mrket repository for this "funny money" or a means of storing pension assets. Where would it transfer the money. China can diversify its assets simply by sterlising its trade surplus in other countries or seeking to penetrate other export markets and retaining "reserves" elsewhere. Its annual trade surplus of US$250 billion can achieve 50% diversification in just 3 years or so. Better for the journalist to concentrate on how the Chinese government is lifting livign standards ... More »

Here we go again, using distance cocktail gossip to discuss facts. How about some objectivity, like for instance the slightly closer reporting on http://news.bbc.co.uk/1/hi/world/middle_east/6922347.stm where the claim is made that america and britain actually oversee a dictatorship and martial law that yields worse living conditions than sadam. or would that just sour the cocktail hour. let's hope the 190,000 guns that have gone missing from US arsenals ended up in some worthy cause

Not bad, at last it has made a stab at quantifying the scope of the issue. What it doesnt do is point the finger at the right places. Mortgagees get access to funds they dont deserve from banks who pass on the mortgage pools to the government via the GSE's. The banks made around a 7 year duration times a 2% average spread on 3 trillion of mortgages sold to GSE's like Freddy and Fanny (thats 420 billion over the last 15 years). This scam is paid for by the tax-payers providing the implict guarantee to a GSE acting outside its initial mandate of low income subsidised housing and has spawned the huge housing imbalance.

Typical white racist bias using white national socialist metrics to guage the evolutionary progress of civilisation. this article attempts to set back the integration of races by using facts and figures with zero wisdom. does the "Jonas" think that only tribes ever existed? talk about myopic and shallow, what on earth does he expect to happen at a timeof rapid change? i bet there is very little charity by iraqis towards americans either!

No, it is the usual US dogma that assumes both sides of the argument can only be played out in US intellectual space

No,, it doesn;t address the two month gap before a "fresh debate" whilst hundreds die every week from a lost cause, the headline should read "Politicians continue to receive blood money from flawed policy"