When ABC News asked if the "jobs summit" would make real progress or would just be "simply a glorified public-relations stunt," it studiously avoided asking the real question: How can the prime movers that created the current economic "Great Recession" be expected to fix it?
The United Nations summit on global warming in Copenhagen is less than a week away, and UN agencies are trying to pre-set the dials with calls for massive funding of various UN projects and programs. Speaking at a conference in Nairobi, Kenya, UN Development Program (UNDP) administrator Helen Clark said the developed nations need to provide between $75 billion and $100 billion a year to help poor nations cope with climate change.
In spite of forecasts by some commentators of an improving economy, several factors point to a coming, even worse, "double-dip" recession: false government statistics that hide the real unemployment rate of 22 percent; the coming defaults of ARM loans; plummeting commercial real estate values; and, the ripple effect the declining real estate market will have on all other areas of the economy.
Federal Reserve Open Market Committee Chairman Ben Bernanke is pulling out all the stops to kill Congressman Ron Paul's legislation to audit the Federal Reserve Bank, this time with a November 29 op-ed column in the Sunday Washington Post.
With rampant foreclosures and declarations of bankruptcy, historic levels of money creation, a plummeting dollar, and double-digit unemployment, one would think that the already-bowing backs of the American public have borne enough of the burden of trying to pull the eonomy out of the rut of recession via more "stimulus" spending. This may seem obvious to most, but not everyone would agree.