Robert Kuttner: Supposedly state socialism failed, but China has created an improbable combination of a one-party socialist state and predatory capitalism. American industry is so far into the tank with the Chinese, and the U.S. government is so heavily dependent on the Chinese to buy our bonds, that the administration can't imagine taking a hard line against Beijing. Our diplomats behave more like a client power genuflecting before the might of the imperial master than the dominant nation that the U.S. is supposed to be. Click here to read more.
How many Americans understand how broken and defective the banking system as a whole has become? For the crazy facts are these: bankers now borrow from their customers and from taxpayers.
It's no big accomplishment to create jobs by getting poorer. Our goal isn't just more jobs. It's more jobs that pay enough to improve our living standards.
Carly Fiorina's lack of experience does not trouble me so much as her reductive attitude towards Barbara Boxer on a personal level and her complete and shameful obfuscation of Boxer's record in the Senate.
Instead of destabilizing our schools and bashing teachers, we should channel all that outrage into a positive reform movement that could really improve the schools.
Picking a new head for the National Economic Council is an important moment for the president's rapidly realigning staff. The old economic models are broken, and a little entrepreneurial populism is exactly what is needed.
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