Bernanke’s `Rookie Mistake’ Forces Fed to Shift Focus

“It was a rookie mistake,” said Kenneth Thomas, a lecturer in finance at the University of Pennsylvania’s Wharton School in Philadelphia. The Fed “underestimated liquidity needs” of investors and the fallout from the housing recession, he said, adding, “This demonstrates the difference between book-smart and street-smart.” From Bloomberg News The meeting signals Congress is looking… Continue reading Bernanke’s `Rookie Mistake’ Forces Fed to Shift Focus

Glenn Greenwald on imperial ideology

It may very well serve our “national interests” to start a war because we want to control someone else’s resources, or because we think it would be good if they had a different government, or because we want the world to fear us, or because we want to change the type of political system they… Continue reading Glenn Greenwald on imperial ideology

How Karl Rove lost a generation of Republicans

The March poll from the Pew Research Center showed that 50 per cent of Americans identify as Democrats while only 35 per cent say they are Republican. The June NBC-Wall Street Journal poll showed 52 per cent of Americans would prefer a Democratic president while only 31 per cent would support a Republican, the largest… Continue reading How Karl Rove lost a generation of Republicans

The collapse of Karl Rove

A month ago, a friend who has spent his entire career working for the Republican House leadership pulled up beside me at the intersection of Seventh and Pennsylvania in Washington. A House institutionalist, and a fiercely partisan secular Republican, he was oddly cheerful. “Call me next time you’re in town,” he said. “We’ll talk about… Continue reading The collapse of Karl Rove

Gingrich calls War on Terror Phony

Newt Gingrich, former Republican House Speaker, called the war on terror “phony” in a speech to a group of young conservatives in Washington, D.C. on Thursday. … Instead of the current strategy to fight terrorism, Gingrich said we should focus on energy independence. “We have to have a national energy strategy, which basically says to… Continue reading Gingrich calls War on Terror Phony

The Al Qaeda Reader

These are not real grievances for al-Qaida (it does not bear mentioning that Bin Laden is probably not very concerned with campaign finance reform). They are a means of weaving local and global resentments into a single anti-American narrative, the overarching aim of which is to form a collective identity across borders and nationalities, and… Continue reading The Al Qaeda Reader