With Tax Cuts for Wealthy and Corporations Complete, Gary Cohn Calls it Quits

Since the passage of the Trump’s tax cuts in December, Wall-Street veteran turned Economic Advisor Gary Cohn likely had little incentive to stay in the White House.

Jon Queally
By Jon Queally
White House chief economic adviser Gary Cohn, speaks to reporters during the daily press briefing in the Brady press briefing room at the White House, in Washington, Jan. 23, 2018. (AP/Manuel Balce Ceneta)

Just over two months after the Trump administration celebrated its most notable policy achievement of President Donald Trump's term—passage of massive tax cuts for corporations and the wealthy—the President's chief economic advisor Gary Cohn, former head of Wall Street giant Goldman Sachs, announced his resignation on Tuesday. Reportedly over an

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As Wall Street Sinks Global Markets, China’s Economic Policies Build Independence & Immunity

China has been faced with — and continued to grow throughout — a previous U.S.-triggered global recession just under a decade ago. While the current condition of the markets is nothing like the end of 2008, there is still the same fear in the West that China is somehow on the brink of catastrophe.

James Carey
By James Carey

BEIJING (Analysis) -- The recent economic “correction” in the U.S. markets, which saw stocks drop back down from recent record-highs, has begun to spread to the east, reaching the stock exchanges in Tokyo, Taiwan and Shanghai. While all three of these markets depend, to some extent, on the performance of Wall Street, one is likely to emerge

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It’s Not If the Next Financial Crisis Will Happen – but When

The millionaire and billionaire deregulators extraordinaire of the Trump administration might be taking a “brand-new America” (as the president called it) down a rather old path.

Nomi Prins
By Nomi Prins
President Donald Trump and Treasury Secretary Steven Mnuchin arrive at the Treasury Department in Washington, April 21, 2017, where the president was to sign an executive order to review tax regulations set last year by his predecessor, as well as two memos to potentially reconsider major elements of the 2010 Dodd-Frank financial reforms passed in the wake of the Great Recession. (AP/Susan Walsh)

There’s been lots of fire and fury around Washington lately, including a brief government shutdown. In Donald Trump’s White House, you can hardly keep up with the ongoing brouhahas from North Korea to Robert Mueller’s Russian investigation, while it already feels like ages since the celebratory mood over the vast corporate tax cuts Congress passed

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The Democratic Party’s Grim Metaphor: Tom Perez

Tom Perez’s lackluster first year as head of the Democratic National Committee provides a metaphoric glimpse into the waning influence of the Democratic Party as a whole.

Norman Solomon
By Norman Solomon
Democratic National Committee (DNC) Chairman Tom Perez speaks at a protest against President Donald Trump's travel ban in Lafayette Square outside the White House, March 6, 2017. (AP/Andrew Harnik)

Sometimes a party’s leader seems to symbolize an enduring malaise. For Democrats in 2018, that institutional leader is Tom Perez. While serving as secretary of labor during President Obama’s second term, Perez gained a reputation as an advocate for workers and civil rights. That image may have helped him win a narrow election among Democratic

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Since 2008 Financial Crisis, Wall Street Is The Grinch That Keeps Stealing Christmas

Hauling everything they owned in two grocery carts, Anderson and his three teenage children had put in a good 12 hours in their trek from Silicon Valley’s northern edge en route to the Promised Land, Berkeley, which was still another 14 miles away as the crow flies.

Jon Jeter
By Jon Jeter
Vernon Watson, a homeless person, wraps himself in blankets as a lone pedestrian walks by on a cold Chicago street. (AP/Charles Rex Arbogast)

BERKELEY, CALIFORNIA -- From his post at the edge of the bus-shelter bench, James Anderson spotted the two police patrol cars heading slowly towards him and snapped briskly to attention, or at least as briskly as humanly possible for a 53-year-old man with a bad back. He reached for his cane and struggled unsteadily to his feet, shielding his eyes

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As Trump and GOP Further Eviscerate US Public Sector, Canada Stops Imitating

What’s happening in Canada is the phasing out of a ruinous national experiment in austerity that took its cue from the default position of the political class in the United States for two generations and counting.

Jon Jeter
By Jon Jeter
President Donald Trump walks with Canadian Prime Minister Justin Trudeau along the Colonnade to the Oval Office at the White House on Oct. 11, 2017. (AP Photo)

OTTAWA, CANADA -- While U.S. lawmakers debate a Trump administration tax cut that will inexorably deepen the bone-deep budget cuts that have been eroding American living standards for nearly 40 years, Canadians are going on a bit of a spending spree. Quebec’s Premier this week proposed a guaranteed minimum income of $14,000 annually for disabled

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