Americans Unwilling to Face Reality

In These Times by John R. MacArthur | Oct. 19, 2008 (Opinion)

It’s not as though no one saw it coming. Here’s the economist Michael Hudson, writing in the May 2006 issue of Harper’s magazine: “The reality is that, although home ownership may be a wise choice for many people, this particular real-estate bubble has been carefully engineered to lure home buyers into circumstances detrimental to their own best interests… . The bubble will burst, and when it does, the people who thought they would be living the ... Full Story »

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Subjects: Politics, Media
Topics: Media and Politics
Member Tags: US Economy
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Posted by: Posted by Marsha Iverson - Oct 19, 2008 - 9:28 PM PDT
Reviewed by: Marsha Iverson (review)
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Edited by: Marsha Iverson - Oct 19, 2008 - 9:40 PM PDT

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Marsha Iverson
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 by Marsha Iverson - Oct. 19, 2008

MacArthur, publisher of Harper's Magazine, ties together the various threads of the global economic collapse, the American passion for quick financial success, and a dearth of responsible reporting, into a neat, ugly package wrapped with a gloomy ribbon of negligent media and an uncritical audience.

This detailed article is a mini-seminar in the most critical economic issue in 70+ years, and the political, cultural and media environment that each bear responsibility.

…why isn’t Treasury Secretary Henry Paulson, the former CEO of Goldman Sachs, challenged on his slow response to the Fannie Mae and ... More »

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  • Is the Fourth Estate a Fifth Column?

    In These Times by Bill Moyers | Jul. 11, 2008 (Opinion)
    () Sadly, in many respects, the Fourth Estate has become the fifth column of democracy, colluding with the powers that be in a culture of deception that subverts the thing most ...
    Posted by Dwight Rousu
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