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Bernanke Speech Was Only a Minor Footnote to Enduring Crisis


Saturday 27 August 2011
Bernanke Speech Was Only a Minor Footnote to Enduring Crisis


Richard D. Wolff, Truthout: "If Americans expected some sign of dramatic policy initiatives from Federal Reserve Chairman Ben Bernanke, they were disappointed in Friday's speech. Instead, Bernanke repeated how confident he was in the basic strengths of the US economy... This all amounts to more of the same policies we have been seeing... 'Trickle-down' is indeed the right name for this program: shovel help to the financial top of the economic pyramid and hope it trickles some of its loot down to the mass of businesses and individuals."
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Core of Hurricane Irene Starts Coming Ashore
Brian Stelter, Kim Severson and Campbell Robertson, The New York Times News Service: "The eye wall of Hurricane Irene, now a Category 1 storm, came ashore just east of Cape Lookout in North Carolina on Saturday morning, the first stop in the mainland United States for a storm that is expected to scrape up the East Coast and bring flooding rains to a dozen states... Irene's landfall marked the first time since 2008 that a hurricane made landfall in the continental United States."
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Dr. King's Memorial Is About the Reality, Not the "Dream"
Dr. Wilmer J. Leon III, Truthout: "If one studies Dr. King's speeches and writings and understands the context of their time, the reality is that Dr. King was not about politics; he was about policy. He was not about elected positions and presidents; he was about people. Dr. King was not about tax breaks for the wealthiest of us; he was about social programs for the least of us. He was not about a war in Iraq, Afghanistan, or Libya. He saw '... war as an enemy of the poor ...' and attacked it as such."
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C.I.A. Demands Cuts in Book About 9/11 and Terror Fight
Scott Shane, The New York Times News Service: "In what amounts to a fight over who gets to write the history of the Sept. 11 attacks and their aftermath, the Central Intelligence Agency is demanding extensive cuts from the memoir of a former F.B.I. agent who spent years near the center of the battle against Al Qaeda. The agent, Ali H. Soufan, argues in the book that the C.I.A. missed a chance to derail the 2001 plot by withholding from the F.B.I. information about two future 9/11 hijackers living in San Diego, according to several people who have read the manuscript."
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Rick Perry's Tall Tales of Texas
Michael Winship, Truthout: "A lot of the state's success in job creation looks more like dumb luck than evidence of ole Pecos Perry's political prowess or expertise in governance... Perry points to deregulation and low taxes... but there were many factors largely beyond his control, including increased trade between the United States and Mexico and the high price of gasoline that pumped revenue into the state, accompanied by new technologies for oil and gas extraction."
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US Drug Thirst, Gun Sales Must Share Blame for Casino Tragedy, Mexican Official Says
Tim Johnson, McClatchy Newspapers: "His voice cracking with emotion, President Felipe Calderon said Friday that the United States bore some blame for 'an act of terror' by gangsters who doused a casino with gasoline and set a blaze that killed at least 52 people. The attack Thursday in Monterrey, an industrial city of 4 million barely a two-hour drive from Texas, stunned Mexicans and seemed likely to mark a watershed in the country's intensifying war against criminal syndicates."
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"Cooperatives Aren't Charity"
Kanya D'Almeida, Inter Press Service: "As industrial production penetrates all corners of the planet and transnational capital gains have unfettered access to virtually every country and community, the United Nations has declared 2012 to be the 'International Year of Cooperatives (IYC)'... While the high-level meeting will no doubt generate enormous awareness on the necessity of sustainable and alternative economies like cooperatives, many individuals and organisations have been working quietly for years to bring worker-owned enterprises to fruition."
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This Labor Day We Need Protest Marches Rather Than Parades
Robert Reich, Robert Reich's Blog: "Labor Day is traditionally a time for picnics and parades. But this year is no picnic for American workers, and a protest march would be more appropriate than a parade. Not only are 25 million unemployed or underemployed, but American companies continue to cut wages and benefits. The median wage is still dropping, adjusted for inflation. High unemployment has given employers extra bargaining leverage to wring out wage concessions."
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"No Man Is an Island": Reflections From Norway
Richard Daly, Truthout: "There are no more lone madmen causing terror than there are island communities unto themselves. We are connected, more and more as human history unfolds. Oslo, on July 22, 2011, did not see the actions of a lone madman, but rather, a complex of actions and actors who are part of the dichotomy of post-World War II Europe... No matter which island we stand on, anyone's death diminishes us because, whether or not we acknowledge the fact, we are involved in the safeguarding and cultivating of human kind."
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Your Chance to Take a Stand Against Corporate Greed
Dave Johnson, Campaign for America's Future: "Do you think that corporate greed has gotten out of control? Here is your chance to take a stand against corporate greed in a way that can make a difference. There is a greedy corporation that right now is trying to take away its workers' benefits and job security. Let's all back up the workers and stop this, and show people how it's done."
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BUZZFLASH DAILY HEADLINES

The BuzzFlash commentary for Truthout will return Monday.
Expect a Third-Party Candidate in 2012
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Suicide Attack in Algeria Kill at Least 18
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The DC Earthquake Is an Alarming Case Against Keystone XL Pipeline
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