alternet logo

Tough Times

Demand honest news. Help support AlterNet and our mission to keep you informed during this crisis.

Economy

Trump made a promise he never intended to keep: 'There was no plan'

Bob Kemper recalls the hope Donald Trump intentionally stirred in 2016 by pledging to revive manufacturing and keep factories busy producing steel, aluminum and other materials for a major infrastructure overhaul.

Keep reading... Show less

Citi report sees $16 tn drag on US economy from racism

New York (AFP) - Racial inequality has cost the US economy $16 trillion in wealth over the last two decades, Citigroup said in a report Thursday.The banking giant -- pointing to the drag from unequal pay, housing discrimination, education disparity and other longstanding ills in the United States -- simultaneously pledged $1 billion in initiatives for Black-oriented business needs."Addressing racism and closing the racial wealth gap is the most critical challenge we face in creating a fair and inclusive society and we know that more of the same won't do," said Citigroup Chief Executive Michael...

The 2 major political parties are more interested in donor cash than what voters want

I recall being devastated when I learned that the professional wrestling I watched as a kid was fake. How could combatants show such contempt for their opponents in the ring and yet all work for the same company?

Keep reading... Show less

Study reveals how 'stakeholder capitalism' fails to live up to promises as corporations continue putting profits over people

When the Business Roundtable issued a statement on corporate purpose and promised to "deliver value to all of... our stakeholders" in 2019, some applauded the attention paid to social and environmental concerns by 181 CEOs as a significant improvement from neoliberal economist Milton Friedman's 1970 dictate that "the social responsibility of business is to increase its profits," which marked the beginning of an era of shareholder primacy.

Keep reading... Show less

The rich won't let us quarantine

Every campaign pitch is at its root a narrative, a story line about the ebb and flow of our history that acts as the orientation for the vote that is upon us. The candidate whose story line captures the most people is the one that prevails in November.

Keep reading... Show less

9 days from hell: The GOP's dark vision for the US is taking us to the brink — again

It's been 129 days since the House passed the $3.4 trillion HEROES Act, which Mitch McConnell has refused to take up, and it's 9 days until the government runs out of funding with the end of the fiscal year. Oh, and the election is in 43 days. It's also official: the now-annual September government shutdown clock has started.

Keep reading... Show less

The death of Ruth Bader Ginsburg may have already doomed Obamacare

Supreme Court Justice Ruth Bader Ginsburg's death may drastically affect the fate of a lawsuit seeking to strike down Obamacare — even if President Donald Trump fails to replace her with a more conservative justice.

Keep reading... Show less

Paul Krugman explains how the GOP has been 'wrong every step of the way' on Obamacare

If President Donald Trump and Senate Majority Leader Mitch McConnell — following the death of Justice Ruth Bader Ginsburg on Friday — are successful in ramming a far-right Supreme Court nominee through the U.S. Senate, it is entirely possible that the Affordable Care Act of 2010, Obamacare, will be abolished. Republicans, unable to repeal the ACA via Congress, are hoping that the law will be struck down as unconstitutional.

Keep reading... Show less

Former GOP insider details why conservative economics is severely flawed

Economist Milton Friedman, who was 94 when he died in 2006, was a major influence on Reaganomics, neoliberalism and trickle-down economics — and everyone from the Libertarian Party to Ronald Reagan’s administration has embraced his views on business and the economy. Friedman, however, has been widely criticized by liberals, progressives and proponents of New Deal and Great Society economics, and former GOP insider Bruce Bartlett lays out some reasons why Friedman’s influence on U.S. economic policy has been harmful in an article published in The New Republican this week.

Keep reading... Show less

Democrats mock the GOP for climate denialism — but they're addicted to fossil fuel cash

The recent chorus of Democratic Party leaders lining up to denounce President Donald Trump’s climate science denial is deafening. As the West Coast of the United States burns relentlessly, taking lives and land, spewing ash and smoke, Democratic presidential nominee Joe Biden denounced Trump’s refusal to acknowledge climate science, saying in a speech, “If you give a climate arsonist four more years in the White House, why would anyone be surprised if we have more of America ablaze?” He added, referencing hurricanes on the Gulf Coast, “If you give a climate denier four more years in the White House, why would anyone be surprised when more of America is underwater?”

Keep reading... Show less

Ralph Nader: Here's how to fight Americans' inclination to relinquish control to corporations

The American people own most of the wealth—private and public—and most of the information in the country. The top one percent do not.

Keep reading... Show less