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One of the many parts of the financial sector that the crisis exposed as desperately in need of reform was the 401(k) industry. In 2008 alone, the securities industry lost over $2 trillion in workers’ hard-earned 401(k) and IRA savings.
A new Media Matters study shows that not only was climate change absent from the Presidential debates, it was virtually absent from media coverage. Total media coverage of climate change was just over three and a half hours since August 1st. However, the vast majority of this -- two and a half hours worth -- was on MSNBC. The other networks combined spent 51 minutes discussing climate change.
Poverty’s up, but still ignored. The drumbeat of evidence shows that it remains, despite the recovery, persistently high. The official Census poverty measure this summer found a record 15 percent of Americans living in poverty. But, as expected, that lowballs it. The official measure, which hasn’t been updated in fifty years, is inadequate.
No doubt the new International Energy Agency (IEA)'s latest World Energy Outlook will be cause for celebration for the fossil fuel industry. In it, IEA points to the strong oil and gas production in the U.S. and predicts that by within a decade or so, the U.S. will become the world's largest oil producer, surpassing Saudi Arabia and Russia. By 2030, North America could be a net oil exporter and, around the same time, the U.S. will likely be energy independent.
Tuning in to the latest round of fiscal panic, you might think that Congress and the President have been doing exactly nothing about the deficit over the past few years. Of course, though, that is wrong: Major steps have already been taken to control government spending. According to a new analysis by the Center for Budget and Policy Priorities:
One of the most visible signs of climate change was last summer’s prolonged extreme drought. Over eighty percent of the corn and soybean crops were impacted. Not surprisingly, we saw record food prices globally. Price increases due to drought are easy to understand given the reduction in crop supply that accompanies drought.
When we talk about leveling the playing field for energy solutions, we often talk about how fossil fuels receive the lion’s share of federal subsidies even though they continually post record profits. The renewable energy sector, in contrast, continually faces uncertainty over future funding.
We already know that a well-publicized corporate gift can put spit and shoeshine on a tarnished public image; a well-placed one can exert political leverage. But what about companies that use disaster relief as product placement?
Last week's election was historic for all sort of reasons: gay rights (and human decency) prevailed in Maine, Maryland, Minnesota and Washington; Romney's loss suggested that super PACs could not, in fact, buy the presidency; and President Obama will get the crucial chance to implement the Affordable Care Act.