Rick Newman


September 2010


How Ordinary Folks Can Fix America

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We're toast.

The Chinese outwork us, the Indians outsmart us, and the Germans outvacation us. Our biggest corporations have become computerized Potemkin shells that crank out profits without people. Our middle class is too obese to hustle down to the outplacement office. The government takes all of ...

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TAGS:
economy
recession

The Film That May Rehabilitate Wall Street

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Ever meet a nice Wall Street banker?

Probably not. Most people have never met a Wall Street banker at all, since they tend not to hang out at the fast-food joints and bowling alleys where mere mortals congregate. But there's certainly a public image of the typical financial mogul: Polished,

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TAGS:
Wall Street

How Netflix (and Blockbuster) Killed Blockbuster

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When Blockbuster, the huge video-rental chain, set up a mail-delivery service in the summer of 2004, rival Netflix watched its stock price tumble. Netflix had invented the business in the late '90s, and already survived one competitive scare after Wal-Mart began dabbling in DVD rentals. By 2004,

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TAGS:
Blockbuster

4 Things Missing From the 'Pledge To America'

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The theme is compelling, and certainly timely: Shrink government, get spending under control, and force Congress to do more with less, just like the rest of America. But like most campaign propaganda, the Republicans' "Pledge To America" glosses over the nation's biggest problems and largely ...

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TAGS:
Republican Party
Democratic Party
Obama administration
Obama, Barack
2010 Congressional elections
White House
House of Representatives

What It Is, If It's No Longer a 'Recession'

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We can't call it a recession anymore—the group of economists that determines such things has declared that the recession officially ended in June 2009. But it sure doesn't feel like a recovery. A year after the recession ended, the unemployment rate is more than three percentage points higher than ...

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TAGS:
economy
recession

Why Elizabeth Warren Will Benefit Wall Street

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Global banking regulators recently decided to toughen the rules on banks, requiring them to hold more capital against their assets, to prevent another financial panic like the one that mushroomed in 2008. The new requirements will cut into profitability, since banks will have less money to lend and ...

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Why Tax Hikes For the Wealthy Are Inevitable

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Thanks to Herbert Hoover, it's considered insanity to raise taxes during an economic downturn. Three years into the Great Depression, Hoover sought to close a mushrooming federal deficit by passing the Revenue Act of 1932, which boosted income taxes on most earners and pushed the top rate from 25 ...

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TAGS:
Obama, Barack
Obama administration
federal taxes
taxes
recession
Hoover, J. Edgar
Roosevelt, Franklin Delano

How Obama Blew Stimulus II

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It might stimulate the chattering class and rouse his political foes, but President Obama's latest economic proposals won't do much to create jobs or boost incomes any time soon.

Obama knows this.

[See 3 ways Obama could boost hiring.]

With Congress only in session for a few weeks until the midterm ...

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TAGS:
debt
deficit and national debt
Obama, Barack
Obama administration
White House
economic stimulus
Republican Party
Democratic Party

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