Economy

WATCH: Highlighting Trump’s ‘Promises Broken,’ Sanders Gives Address on Biden’s Plan for the Economy and Working Families

WATCH: Highlighting Trump’s ‘Promises Broken,’ Sanders Gives Address on Biden’s Plan for the Economy and Working Families Read WATCH: Highlighting Trump’s ‘Promises Broken,’ Sanders Gives Address on Biden’s Plan for the Economy and Working Families on Common Dreams

Highlighting Trump’s ‘Promises Broken,’ Sanders to Give Saturday Address on Biden’s Plan for the Economy and Working Families

Highlighting Trump’s ‘Promises Broken,’ Sanders to Give Saturday Address on Biden’s Plan for the Economy and Working Families Read Highlighting Trump’s ‘Promises Broken,’ Sanders to Give Saturday Address on Biden’s Plan for the Economy and Working Families on Common Dreams

‘Everybody Is Going to Catch This Thing Eventually’: Senior Trump Official Brushes Off Criticism of Maskless Crowd at RNC

A White House official’s flippant response to concerns about the maskless crowds of attendees at the Republican National Convention—and the GOP’s ignoring of the coronavirus’s horrific toll—have sparked widespred outrage this week. “Everybody is going to catch this thing eventually,” a senior White House official told CNN‘s Jim Acosta Thursday. Reporting on the fourth night …

‘Everybody Is Going to Catch This Thing Eventually’: Senior Trump Official Brushes Off Criticism of Maskless Crowd at RNC Read More »

‘I Blame Mitch McConnell the Most. At Least Pelosi Was Trying’: Anger at GOP Over Economic Pain Grows

With jobless Americans growing increasingly desperate and furious at congressional Republicans for skipping town for summer recess without approving Covid-19 relief, House Speaker Nancy Pelosi on Thursday ripped the Trump White House for “abandoning” tens of millions of workers and children after her brief conversation with White House Chief of Staff Mark Meadows yielded zero …

‘I Blame Mitch McConnell the Most. At Least Pelosi Was Trying’: Anger at GOP Over Economic Pain Grows Read More »

As AstraZeneca Signs Deal With EU, Critics Warn Big Pharma Push for Covid Vaccine Liability Protections a ‘Dangerous Precedent’

European Union leaders announced Thursday they had signed a contract with pharmaceutical giant AstraZeneca exempting the drugmaker from “future product liability” in exchange for it supplying the EU with at least 300 million doses of a still-in-development Covid-19 vaccine by mid-2021. The deal, announced earlier this month, was made official amid new reporting about lobbying pressure …

As AstraZeneca Signs Deal With EU, Critics Warn Big Pharma Push for Covid Vaccine Liability Protections a ‘Dangerous Precedent’ Read More »

EU Signs Deal with AstraZeneca, Critics Warn of ‘Dangerous Precedent’ as Big Pharma Pushes for Covid Vaccine Liability Waivers

European Union leaders announced Thursday they had signed a contract with pharmaceutical giant AstraZeneca exempting the drugmaker from “future product liability” in exchange for it supplying the EU with at least 300 million doses of a still-in-development Covid-19 vaccine by mid-2021. The deal, announced earlier this month, was made official amid new reporting about lobbying pressure …

EU Signs Deal with AstraZeneca, Critics Warn of ‘Dangerous Precedent’ as Big Pharma Pushes for Covid Vaccine Liability Waivers Read More »

As Trump Pushes New Tax Cuts for Wealthy, Analysis Shows US Billionaires $800 Billion Richer Since Pandemic Hit

As President Donald Trump and top members of his administration continue their push to deliver another round of tax cuts to rich investors, an analysis published Tuesday by the Institute for Policy Studies and Americans for Tax Fairness showed that U.S. billionaires have seen their collective wealth soar by nearly $800 billion since Covid-19 began …

As Trump Pushes New Tax Cuts for Wealthy, Analysis Shows US Billionaires $800 Billion Richer Since Pandemic Hit Read More »

Proving ‘A Different World Is Possible,’ Exxon Dropped From Dow Jones After 92-Year Run

Climate campaigners on Tuesday marked a major milestone in the fight to eliminate the use of fossil fuels and transition to a green energy economy as ExxonMobil was dropped from the S&P Dow Jones Industrial Average after nearly a century. The oil giant, the oldest member of the Dow, was replaced on the index by software …

Proving ‘A Different World Is Possible,’ Exxon Dropped From Dow Jones After 92-Year Run Read More »

Just Two States Have Begun Paying Out Boosted Unemployment Aid 15 Days After Mnuchin Promised Benefits in a ‘Week or Two’

Treasury Secretary Steve Mnuchin vowed on August 10 that “within the next week or two,” most states would be able to set up and carry out President Donald Trump’s makeshift program authorizing a $300-per-week federal boost to unemployment benefits. As of Tuesday, more than two weeks after Mnuchin’s comments, just Arizona and Texas have begun …

Just Two States Have Begun Paying Out Boosted Unemployment Aid 15 Days After Mnuchin Promised Benefits in a ‘Week or Two’ Read More »

As Big Box Stores Thrive, 1 in 5 Small Businesses Expect to Close in Next 6 Months Without Urgent Federal Aid

One in five small businesses reported in a survey Monday that they will have to shut their doors permanently if economic conditions—and the federal government’s efforts to improve them—don’t change in the next six months.  The National Federation of Independent Businesses (NFIB) surveyed 561 small business owners on August 17 and 18 and found that …

As Big Box Stores Thrive, 1 in 5 Small Businesses Expect to Close in Next 6 Months Without Urgent Federal Aid Read More »

‘What Stage of Capitalism Is This?’ Hedge Fund $3 Billion Richer Thanks to Wager on Wildfire Insurance Claims

The social and environmental toll of the unfolding fire catastrophe in California—where over 100,000 people have been displaced, seven have died, and approximately 1.2 million acres have burned since August 15—is incalculable, but hedge fund Baupost Group has found a way to turn the state’s devastating wildfire epidemic over recent years into profits for investors.   …

‘What Stage of Capitalism Is This?’ Hedge Fund $3 Billion Richer Thanks to Wager on Wildfire Insurance Claims Read More »

‘Responsible for National Collapse’: RNC Greeted With Projections Condemning Republicans for Abandoning Jobless Workers

On the eve of the 2020 Republican National Convention, a progressive advocacy group representing 15,000 unemployed workers on Sunday projected onto a Charlotte, North Carolina hotel the photos and stories of jobless workers struggling to meet basic needs after the GOP allowed the $600-per-week unemployment benefit boost to expire last month, slashing the incomes of …

‘Responsible for National Collapse’: RNC Greeted With Projections Condemning Republicans for Abandoning Jobless Workers Read More »

“We’re Back”: Greta Thunberg Kicks Off Third Year of Fridays for Future Protests in Germany After Meeting With Merkel

Swedish climate leader Greta Thunberg donned a mask and joined a socially distanced Fridays for Future protest in Berlin just a day after she and three other youth activists met with German Chancellor Angela Merkel, whose government took over the European Council presidency in July, to discuss the planetary emergency. Thunberg—along with Luisa Neubauer of …

“We’re Back”: Greta Thunberg Kicks Off Third Year of Fridays for Future Protests in Germany After Meeting With Merkel Read More »

‘Complete Bombshell’: Former Top USPS Official Reveals ‘Disturbing’ New Details of DeJoy Selection and Mnuchin Sabotage of Mail Service

In his first public remarks since resigning from the U.S. Postal Service Board of Governors in protest at the end of April, David Williams on Thursday offered a number of alarming new details surrounding the selection of Trump megadonor Louis DeJoy as postmaster general and Treasury Secretary Steve Mnuchin’s efforts to exert influence over mail …

‘Complete Bombshell’: Former Top USPS Official Reveals ‘Disturbing’ New Details of DeJoy Selection and Mnuchin Sabotage of Mail Service Read More »

Warnings of DeJoy Scheme to ‘Kill Postal Banking’ as USPS Reportedly Considering Plan to Let Wall St Set Up ATMs in Post Offices

JPMorgan Chase, the largest financial institution in the United States, is reportedly in talks with the U.S. Postal Service about a proposal to set up ATMs in post offices in several states across the country—a plan critics warned is an effort to eliminate the possibility of a public postal banking system. Capitol Forum reported Wednesday …

Warnings of DeJoy Scheme to ‘Kill Postal Banking’ as USPS Reportedly Considering Plan to Let Wall St Set Up ATMs in Post Offices Read More »

Warren Praised for Using DNC Address to Demand Child Care as ‘Part of the Basic Infrastructure of This Nation’

Speaking on the third night of the Democratic National Convention from a Massachusetts kindergarten facility that’s been shuttered for months due to the Covid-19 pandemic, Sen. Elizabeth Warren on Wednesday lamented the failure of the wealthiest country on the planet to provide crucial services to families with children and demanded that child care be treated …

Warren Praised for Using DNC Address to Demand Child Care as ‘Part of the Basic Infrastructure of This Nation’ Read More »

Greenpeace Gives Democratic Platform C+ on Climate, Calling for ‘Action at the Scale That Science and Justice Demand’

Greenpeace USA announced Wednesday that the platform which Democrats are set to adopt this week earns only a C+ rating based on the scorecard process the group previously used to rank the climate policies of what was once a large field of the party’s 2020 presidential primary candidates. That C+ (52.5 points out of 100) …

Greenpeace Gives Democratic Platform C+ on Climate, Calling for ‘Action at the Scale That Science and Justice Demand’ Read More »

Greta Thunberg and Fellow Activists Decry ‘Political Inaction’ on Climate Crisis After Two Years of School Strikes

A day before meeting with German Chancellor Angela Merkel, four Fridays for Future leaders published an op-ed in The Guardian on Wednesday calling out world leaders for failing to tackle the planetary crisis despite the past two years of youth-led global protests demanding urgent action to achieve climate and environmental justice. Greta Thunberg of Sweden, …

Greta Thunberg and Fellow Activists Decry ‘Political Inaction’ on Climate Crisis After Two Years of School Strikes Read More »

‘Immoral, Criminal, Inexcusable’: Climate Groups Furious as DNC Drops Support for Ending Fossil Fuel Handouts From Platform

Environmentalists reacted with outrage late Tuesday to news that the Democratic National Committee this week quietly removed from the final party platform an amendment calling for an end to federal subsidies to the fossil fuel industry, a longstanding demand of climate activists that both Joe Biden and Kamala Harris supported during the primary. “We are …

‘Immoral, Criminal, Inexcusable’: Climate Groups Furious as DNC Drops Support for Ending Fossil Fuel Handouts From Platform Read More »

In DNC Remarks, Dying Medicare for All Activist Ady Barkan Delivers Powerful Indictment of ‘Broken’ US Healthcare System

Medicare for All activist Ady Barkan, left paralyzed and unable to speak by ALS, delivered a powerful indictment of the “fundamentally broken” for-profit U.S. healthcare system in his remarks at the Democratic National Convention Tuesday night, decrying a status quo that saddles Americans with massive costs while providing inadequate treatment. “We live in the richest …

In DNC Remarks, Dying Medicare for All Activist Ady Barkan Delivers Powerful Indictment of ‘Broken’ US Healthcare System Read More »

AOC Uses 90-Second Convention Speech to Blast ‘Unsustainable Brutality’ of US Economy and Celebrate Movements Fighting for Justice

Making the most of her 90-second speaking slot at the Democratic National Convention, Rep. Alexandria Ocasio-Cortez on Tuesday night condemned the “unsustainable brutality” of an economy that allows the very few at the top to hoard obscene wealth at the expense of the many and celebrated nationwide grassroots efforts to advance transformative change. “Thank you …

AOC Uses 90-Second Convention Speech to Blast ‘Unsustainable Brutality’ of US Economy and Celebrate Movements Fighting for Justice Read More »

Warnings of GOP Attempt to ‘Control the Narrative’ as Senate Republicans Set Hearing With DeJoy Just Ahead of House Testimony

Republican Sen. Ron Johnson announced Tuesday that Postmaster General Louis DeJoy—a major donor to the GOP—will testify at a virtual Senate Homeland Security and Governmental Affairs Committee hearing on Friday, just days ahead of DeJoy’s scheduled appearance before the Democrat-controlled House Oversight Committee. The timing of the planned Senate hearing—and Johnson’s stated reasons for inviting …

Warnings of GOP Attempt to ‘Control the Narrative’ as Senate Republicans Set Hearing With DeJoy Just Ahead of House Testimony Read More »

As Wages Stagnate and Executive Pay ‘Continues to Balloon,’ Report Shows Top CEOs Now Make 320 Times More Than Typical Worker

New research published Tuesday by the Economic Policy Institute shows that the top executives at the largest corporations in the United States now make 320 times more than what their typical employees earn in wages and benefits. “CEO pay can be curbed to reduce the growing gap between the highest earners and everyone else with …

As Wages Stagnate and Executive Pay ‘Continues to Balloon,’ Report Shows Top CEOs Now Make 320 Times More Than Typical Worker Read More »

‘I Hope the Postmaster General Comes Prepared. I Know I Will,’ Says Rep. Katie Porter as DeJoy Agrees to Testify on USPS Changes

Following demands by top congressional Democrats that he testify before the House Oversight Committee, Postmaster General Louis DeJoy’s office announced Monday that he will appear at a hearing August 24. “I hope the Postmaster General comes prepared,” committee member Rep. Katie Porter (D-Calif.) tweeted Monday afternoon. “I know I will.” DeJoy, a Republican Party megadonor who …

‘I Hope the Postmaster General Comes Prepared. I Know I Will,’ Says Rep. Katie Porter as DeJoy Agrees to Testify on USPS Changes Read More »

Trump Administration Denounced for ‘Foolish and Deeply Damaging’ Plan to Drill in Arctic Wildlife Refuge

Environmental advocates vowed to sue the U.S. Department of Interior following its announcement Monday that the Trump administration has finalized plans to auction off oil and gas leasing rights in Alaska’s Arctic National Wildlife Refuge. “The door is being flung wide open for oil and gas drilling to impose irreversible harm to one of America’s iconic …

Trump Administration Denounced for ‘Foolish and Deeply Damaging’ Plan to Drill in Arctic Wildlife Refuge Read More »