New York Times / International Business Times
Peter Goodman is European economics correspondent and former national economic correspondent for the New York Times. He's also Global Editor-in-Chief of the International Business Times and the author of Past Due: The End of Easy Money and the Renewal of the American Economy. Goodman is a former Executive Business Editor of the Huffington Post.
Do Brexit and America First mean a new world order? President Donald Trump held a joint press conference today at the White House with Theresa May. The British Prime Minister's visit to Washington today was the first White House meeting between President Trump and a foreign leader. They talked trade and other ways to strengthen the so-called "special relationship." Trump has even referred to May as "my Maggie," a reference to the close ties between President Ronald Reagan and then-Prime Minister Margaret Thatcher. So this visit has been seen as a chance to refresh what the two close allies have called "the special relationship" ever since World War II. Then again, these two new leaders are promising to exit the European Union and put "America First" so what are the real prospects for a new trade deal, and a close alliance in the fight against terrorism?
"Free Trade" and Presidential Politics Ronald Reagan, both Presidents Bush, Bill Clinton and Barack Obama have all supported massive trade agreements from NAFTA to CAFTA to the Trans Pacific Partnership. Economists disagree about who wins and who loses in these complex, economic agreements, which are negotiated in secret, with lobbyists for powerful interest groups making sure they get in on the action. The TPP been signed by the US and 11 Asian countries, but it's still waiting for an up or down vote in Congress. Meantime, it's become a hot-button issue in both the Democratic and Republican presidential campaigns.
"Free Trade" and Presidential Politics Ronald Reagan, both Presidents Bush, Bill Clinton and Barack Obama have all supported massive trade agreements from NAFTA to CAFTA to the Trans Pacific Partnership. Economists disagree about who wins and who loses in these complex, economic agreements, which are negotiated in secret, with lobbyists for powerful interest groups making sure they get in on the action. The TPP been signed by the US and 11 Asian countries, but it's still waiting for an up or down vote in Congress. Meantime, it's become a hot-button issue in both the Democratic and Republican presidential campaigns.
President Obama Swings for the Fences and Fence-Straddlers Last night in Charlotte, President Barack Obama made his plea for a second term with a tone of humility. "I'm no longer just a candidate. I'm the President." The speech lacked the soaring rhetoric of candidate Obama in 2008. Instead, it was grounded in the prose of reality – what's been accomplished, what remains to be done. Nor did Obama match the impassioned, folksy delivery of Bill Clinton from the night before, but he did paint a definitive choice for voters, outlining the stark differences between the Democrats and the Republicans. Did he manage to persuade those important swing voters to give him more time? To the Point has been broadcasting live from the Democratic convention all week. You can find extended interviews, pictures and more at KCRW.org/election2012 .
Goldman Sachs Sold ‘Crap’ but Escapes Prosecution in Subprime Mortgage Mess After a bi-partisan report 635 pages long, angry US Senators demanded a criminal investigation of Goldman Sachs. That was a year ago. Yesterday, the Obama Justice Department said it could not find the evidence needed to prove a crime.
Long-term Unemployment and Bridging the 'Skills Gap' Continued unemployment at 8.2 percent is not just a political story, but a measure of human misery. When formerly middle class workers are on the streets with their children, what's the future of the "American Dream?" We talk about the human cost of long-term unemployment for millions of Americans, the causes and potential solutions.
Long Term Unemployment and the 'American Dream' The relentless 8.2 percent unemployment rate dominates coverage of the presidential campaign, but it's much more than a political story. It's a measure of human misery. Some 5.4 million Americans have been out of work for more than six months, and that's being called "a national emergency playing out in slow motion." As the Middle Class is being "hollowed out," companies say they can't find qualified workers. Is there a "skills gap?" Are employers too picky? Is long-term unemployment making a myth of the promise that willing work is the key to upward mobility?
Occupy Wall Street: What's the Message? It's a far cry from Tahrir Square in Cairo, but Occupy Wall Street has been camped out for two weeks in Zuccotti Park between the New York Stock Exchange and the site of the former World Trade Center. The self-described "leaderless resistance movement" includes about 200 college students, recent graduates and others protesting a whole set of economic issues, from a lack of jobs to the ties between government and big business. They've endured pepper spray from a senior New York Police commander and enjoyed visits from celebrities, including Susan Sarandon and Michael Moore. They're a presence on Facebook and Twitter, and they're trying to organize nationwide. Will they ever compete with the Tea Party? What's the connection to economic unhappiness in other parts of the world?
Closing Out the Old Year and Ringing In the New Those end-of-the-year wrap-ups are starting to show up everywhere, and they're not making for cheery reading. 2010 was a rough year for many people who continued to struggle. In the United States, the news was dominated by the economy and big changes on the political landscape as Tea Partiers shook up the status quo. What's ahead on horizon? In 2011, where should we be looking for good news? Who's thinking about new answers to solve ongoing problems and prevent future disasters? How do disasters and downturns affect our cultural psyche? How does the world look beyond our own horizons? Are things brighter for the developing world?
Closing Out the Old Year and Ringing In the New Those end-of-the-year wrap-ups are starting to show up everywhere, and they're not making for cheery reading. 2010 was a rough year for many people who continued to struggle. In the United States, the news was dominated by the economy and big changes on the political landscape as Tea Partiers shook up the status quo. What's ahead on horizon? In 2011, where should we be looking for good news? Who's thinking about new answers to solve ongoing problems and prevent future disasters? How do disasters and downturns affect our cultural psyche? How does the world look beyond our own horizons? Are things brighter for the developing world?
The Great Recession: Counting Costs, Contemplating Change A new survey by the Pew Research Center says that more than half of the nation's working adults have been directly hit by the recession. While the personal costs are high, the changes in individual lives will undoubtedly affect the broader social landscape. Will this kind of economic and institutional upheaval lead to the kind of shared sacrifice Americans experienced during World War II? How will young people, the so-called Millennial Generation, plan for a future that seems less secure?
The Great Recession: Counting Costs, Contemplating Change A new survey by the Pew Research Center says that more than half of the nation's working adults have been directly hit by the recession. While the personal costs are high, the changes in individual lives will undoubtedly affect the broader social landscape. Will this kind of economic and institutional upheaval lead to the kind of shared sacrifice Americans experienced during World War II? How will young people, the so-called Millennial Generation, plan for a future that seems less secure?
Unemployment: How Long Can This Go On? The Senate's newest member, Scott Brown of Massachusetts, was one of 13 Republicans who voted this week in support of a jobs bill, which provides $35 billion for highways, mass transit and tax credits for employers who hire new workers. With 15 million Americans out of a job and unemployment still close to 10%, it might create or save as many as 1 million, hardly a dent in the long-term problem that worries economists most. The author was Leading Democrat Harry Reid, whose bid for re-election is in serious trouble. How did his latest effort go down with the folks back home in Nevada? What are the social and psychological impacts of unemployment? Could it lead to unrest? Is it time for another New Deal, even if that means more deficit spending?
Trying to Stabilize the Housing Crisis Fifteen million Americans are “underwater,” meaning they owe more on their mortgages than their homes are worth. The Obama Administration has $75 billion for a program called Making Home Affordable , but there’s widespread agreement that it’s a failure that could be making things worse.
Is Federal Action Making the Housing Crisis Better or Worse? Fifteen million Americans are "underwater," meaning they owe more on their mortgages than their homes are worth. The Obama Administration has $75 billion for a year-old program called Making Home Affordable , but there's widespread agreement that it's a failure that could be making things worse. Critics say false expectations have led people to waste money trying to stay in homes they really just can't afford. And banks have been hiding their losses. Are a vast number of foreclosures just being kicked down the road? Is a federal bailout required or should cruel financial reality be allowed to take its course? We debate an issue that's crucial to home-owning Americans, the housing industry and economic recovery.
Hunger in America The Agriculture Department says that 49 million Americans did not get enough to eat last year. Scholars at Cornell and Washington Universities report that half America's children will be on food stamps before they grow up. President Obama has renewed his campaign promise to reduce the “trend of rising hunger.”
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.
Terrorism and tweets, hate speech and murder Just days before an election, Britain is coping with a rash of deadly terrorism, and Prime Minister Theresa May is on the defensive. And again today, President Trump has tweeted criticism of the Mayor of London. Later, a double murder in Portland, Oregon has revealed the ugly past of a supposedly “progressive” city. One immediate question: is “hate speech” protected by the First Amendment?
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.
