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Showing posts from July 23, 2016

Hillary Clinton Selects Tim Kaine, a Popular Senator From a Swing State, as Running Mate

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[The tendency is for presidential candidates to either double-down and pick a "mini-me" or choose a running-mate who makes up for what they lack. Clinton has obviously done some of the latter with warm, affable, working-class, largely progressive Tim Kaine. Though he is also squarely on Hillary and Barack's side when it comes to key issues like support for TPP. See also: Is Hillary Clinton a Progressive? Not If She Chooses Tim Kaine, and Hillary Clinton Picks Virginia Senator Tim Kaine for VP, Frustrating Sanders Delegates. Meanwhile, this is where a Trump candidacy takes you: David Duke, former Ku Klux Klan leader, to run for Congress, and White supremacist David Duke runs for U.S. Senate, says ‘My time has come’. *RON*]

By Amy Chozick, Alan Rappeport & Jonathan Martin, New York Times, 22 July 2016

TAMPA, Fla. — Hillary Clinton named Senator Tim Kaine of Virginia to be her running mate Friday, selecting a battleground-state po…

U.K. economy wilting fast after Brexit vote, as PMI shows record drop

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[Note that the Conservative government is responding by doubling down on the fiscal solutions, reliance on which has put them in the ideologically-caused deadlock in the first place. Not a word about stimulus spending. *RON*]

Andy Bruce & Douglas Busvine, Reuters / Globe & Mail, 22 July 2016
Britain’s economy is shrinking, the broadest survey of business confidence since last month’s historic vote to quit the European Union showed on Friday, leading finance minister Philip Hammond to pledge a loosening of purse strings if the weakness endures.
The Bank of England has also been clear that easing monetary policy may be necessary.
The flash, or preliminary, Markit survey of purchasing managers – executives who make spending decisions at 1,250 big firms – fell by the most in its 20-year history.

It was consistent with an economy contracting 0.4 per cent in the third quarter, contrasting with an actual reading of plus 0.4 per cent in the first qu…

Elizabeth Warren Warns Exxon: 'You Picked A Fight with the Wrong State'

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[Senator from Massachusetts derides congressional attempt to 'intimidate' state Attorney General Maura Healey. Compare with: New Documents Reveal Oil And Tobacco Industries’ Dirty History Of Working Together. *RON*]
By Deirdre Fulton,Common Dreams, 20 July 2016

U.S. Sen. Elizabeth Warren (D-Mass.) turned up the heat on ExxonMobil and its congressional accomplices on Wednesday, publicly and passionately coming to the defense of her state's attorney general, Maura Healey, in her ongoing fight to hold Big Oil accountable for climate crimes.

Healey and New York Attorney General Eric Schneiderman, along with eight environmental organizations, were issued subpoenas last week by the head of the House Science, Space, and Technology Committee, Rep. Lamar Smith (R-Texas), seeking information and documents related to their ExxonKnew investigations.

As Inside Climate News reports:
The subpoena to the nongovernmental organizations seeks documents an…

The Return of American Hunger

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[The IMF has called the US out on its high poverty rate. An uneven recovery and new food-stamp restrictions have left millions more people short on food. *RON*]

Leo Resnikoff, The Atlantic, 19 July 2016

By a handful of indicators—unemployment rates, overall economic growth, evenaverage hourly earnings—the U.S. economy isn’t doing so badly right now.

And yet, when it comes to the number of Americans who go hungry, it’s almost like the recovery never happened. The U.S. Department of Agriculture defines food security as "access by all people at all times to enough food for an active, healthy life,” and in 2006, the year before the housing market stumbled, the USDA estimated that fewer than 10.9 percent of American households were food insecure. By 2009, that figure had spiked to 14.7 percent. And now? As of 2014, the most recent year on record, 14 percent of all American households are not food secure. That’s approximately 17.4 million homes acr…

Oil Lobby Paid Washington Post and Atlantic to Host Climate-Change Deniers at RNC

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[The Washington Post is owned by Jeff Bezos, CEO of Amazon.com. "...it is a new low for major media groups to sell their brand to lobbyists and let climate truthers go unchallenged... The Atlantic was hardly alone. At the Republican National Convention, the American Petroleum Institute also paid the Washington Post and Politico to host panel conversations where API literature was distributed, API representatives gave opening remarks, and not one speaker was an environmentalist, climate expert, scientists, or Democrat." See also: Exclusive: Trump considering fracking mogul Harold Hamm as energy secretary - sources. But, then again: Did Industry Ties Lead Democratic Party Platform Committee to Nix Fracking Ban? *RON*]

Alex Emmons, The Intercept, 22 July 2016

AT THE AWARD-WINNING seafood restaurant in downtown Cleveland thatThe Atlantic rented out for the entire four-day Republican National Convention, GOP Rep. Bill Johnson turned to me an…

Why the end of austerity would be an earthquake for markets

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[A pile of baloney. The banksters crying "The sky is falling!" at the prospect of government stimulus spending. The economy remains stalled out and, as we hit the end of what can be accomplished by monetary policy, fiscal stimulus is the key policy move that's left. All this Financial Times article says is that Wall Street wouldn't gain directly from government stimulus spending and, when the stimulus happens, money in stocks will move from where it is to someplace else. Proof, if any is needed, that the health of the economy as a whole holds no interest for them *RON*]

Michael Mackenzie, Financial Times, 22 July 2016

Shock proof. The resilience of markets is standing out as a defining feature, with setbacks shortlived and ultimately providing investors with a buying opportunity.

In a climate where everyone worries about the next nerve-jangling event, the past 12 months have been marked by bouts of turmoil and predictions of gl…