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How it went so wrong in America - How the World Works

How it went so wrong in America - How the World Works
A farewell to How the World Works Coverage of politics, the economy, and globalization will continue, but the branded blog will not Andrew Leonard Friday, Sep 23, 2011 10:24 PM UTC Politics How the World Works Operation treason? Why markets are tanking: The Fed's new plan admits the economy is in trouble but doesn't come close to fixing it Andrew Leonard Thursday, Sep 22, 2011 5:01 PM UTC Politics Ben Bernanke, Federal Reserve

Jonathan Dudley: Christian Faith Requires Accepting Evolution In the evangelical community, the year 2011 has brought a resurgence of debate over evolution. The current issue of Christianity Today asks if genetic discoveries preclude an historical Adam. While BioLogos, the brainchild of NIH director Francis Collins, is seeking to promote theistic evolution among evangelicals, the president of the Southern Baptist Theological Seminary recently argued that true Christians should believe the Earth is only a few thousand years old. As someone raised evangelical, I realize anti-evolutionists believe they are defending the Christian tradition.

The wrong John Wayne Rep. Michele Bachmann kicked off her presidential campaign on Monday in Waterloo, Iowa, and in one interview surrounding the official event she promised to mimic the spirit of Waterloo’s own John Wayne. The only problem, as one eagle-eyed reader notes: Waterloo’s John Wayne was not the beloved movie star, but rather John Wayne Gacy, the serial killer. Mrs. Bachmann grew up in Waterloo, and used the town as the backdrop for her campaign announcement, where she told Fox News: “Well what I want them to know is just like, John Wayne was from Waterloo, Iowa. That’s the kind of spirit that I have, too.”

U.S. trade policy: America's unequal trade relationship with China - The American economy has been in trouble for more than a decade, and no amount of right-wing tax cuts or left-wing fiscal stimuli will solve the primary structural problem underpinning our slow growth and high unemployment. That problem is a massive, persistent trade deficit — most of it with China — that cuts the number of jobs created by nearly the number we need to keep America fully employed. To understand why huge U.S. trade deficits represent the taproot of the nation's economic woes, it's crucial to understand that four factors drive our gross domestic product: consumption, business investment, government spending and net exports.

Sarah Palin’s midnight ride, twice over - The Fact Checker “We saw where Paul Revere hung out as a teenager, which was something new to learn. He who warned, uh, the British that they weren’t going to be taking away our arms, uh, by ringing those bells and making sure as he’s riding his horse through town to send those warning shots and bells that we were going to be secure and we were going to be free and we were going to be armed.” — Former Alaska governor Sarah Palin, June 2 "You know what? I didn’t mess up about Paul Revere.

The BitCoiners Strike Back Even if hypothetical where a "hacker" could create fraudulent Bitcoins, how in the world is that potentially more inflationary than our current fiat system with a "discretionary" monetary policy? It might not be more inflationary than every real or imaginable monetary policy of central banks. But it certainly has the potential to be more inflationary than the fiat money of the United States has proven to be. We have a long history of Federal Reserve notes.

Tea party to GOP: We could make 'examples' of you over debt ceiling Tea party activists are closely watching the talks over raising the debt ceiling and putting the squeeze on moderate Republicans. Republicans and Democrats are locked in tense negotiations on raising the debt ceilingRepublicans, especially tea party-backed ones, are dead set against a plan to raise revenueTea Party Patriots co-founder: "It's time for Congress to get its fiscal house in order" Washington (CNN) -- Right now, some Republican lawmakers in Washington may be wondering how to wiggle out from between a rock and a hard place. On one hand, they're staring at a possible financial nightmare if the nation's debt limit isn't raised. On the other, many are feeling the heat from tea party demands that bluntly warn: Vote against us and suffer political consequences. But over its 2½-year existence, the tea party movement has placed its banner of less government spending at the center of the national conversation.

The Poor Will Inherit the Earth - By Uri Dadush and William Shaw A generation ago, developing countries only hit the economic headlines when a Latin American country defaulted or a Saudi minister announced a new oil price target. The Soviet empire still lorded over Eastern Europe; China and India remained largely closed to the world; and conflict, disease, and corrupt regimes kept sub-Saharan Africa's population mired in poverty and economic isolation. But today, developing countries are propelling the world economy. Already, four (China, India, Russia and Brazil) of the seven largest economies are developing countries. Thirty years of 10 percent annual growth has transformed China from a poor, agrarian economy to an industrial giant and the world's second-largest economy. In Juggernaut: How Emerging Markets Are Reshaping Globalization, we predict that, in the next generation, Japan and Germany will fall further behind and the United States will be the only advanced country to rank among the world's seven largest economies

Debt deal: anger and deceit has led the US into a billionaires' coup There are two ways of cutting a deficit: raising taxes or reducing spending. Raising taxes means taking money from the rich. Cutting spending means taking money from the poor. Not in all cases of course: some taxation is regressive; some state spending takes money from ordinary citizens and gives it to banks, arms companies, oil barons and farmers. But in most cases the state transfers wealth from rich to poor, while tax cuts shift it from poor to rich.