The Bear Market Economics Phenomenon

“The Bear Market Economics Phenomenon” is an observation of Political Economics. Wall Street Admits: ‘We Got Rich Off the Backs of Workers’ thus creating the Bear Market. The Bear Market is America's default war. The ethic of Wall Street is the ethic of celebrity. It is fused into one bizarre, perverted belief system and it has banished the possibility of the country returning to a reality-based world or avoiding internal collapse. A society that cannot distinguish reality from illusion dies.

FAIR USE NOTICE

A BEAR MARKET ECONOMICS BLOG

DEDICATED TO OCCUPY AND THE ECONOMIC REVOLUTION

OCCUPY THE MARKETPLACE

FOLLOW ME ON FACEBOOK

This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in an effort to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. we believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law.

In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml

If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.

FAIR USE NOTICE FAIR USE NOTICE: This page may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This website distributes this material without profit to those who have expressed a prior interest in receiving the included information for scientific, research and educational purposes. We believe this constitutes a fair use of any such copyrighted material as provided for in 17 U.S.C § 107.

Read more at: http://www.etupdates.com/fair-use-notice/#.UpzWQRL3l5M | ET. Updates

Sunday, June 28, 2009

America's failing infrastructure - ASCE Report

PBS

America's failing infrastructure - American Society of Civil Engineers' 2009 Report Card

In order to have an impact on the American Recovery and Reinvestment bill, the American Society of Civil Engineers (ASCE) released its 2009 Report Card for America’s Infrastructure.

Still, as the bill goes through Congress little has been done to ensure that proper oversight will be applied to the funds devoted to spending – for example, that the right infrastructure projects will be funded. The economic stimulus package seems to cut more in taxes than spend on infrastructure repair.

At the same time, the Senate Finance Committee approved its $522 billion portion of the bill, expanding the economic stimulus package almost $70 billion. The Senate Appropriations Committee also approved its portion – $365.6 billion in spending. The total amount of the stimulus package is now at $887 billion and, with the passage by the two committee panels, the full Senate can now begin debate on the bill, which Democrats want to pass sometime next week.

The nearly $70 billion increase came from a fix to insulate middle-class taxpayers from the Alternative Minimum Tax for a year.

Roughly, the stimulus includes $550 billion in spending and about $275 billion in tax cuts. Around $90 billion will go to building and repairing highways, bridges, mass transit systems and other infrastructure projects. The hope is that this investment in the physical infrastructure of the country will slow the job loss rate throughout America.

Still, it is unclear who will be employed, how long the employment will last or if America’s infrastructure will get the kind of repair it actually needs.

According to the ASCE, decades of underfunding and inattention have “endangered our nation’s infrastructure.” As a result, the group concluded that $2.2 trillion is needed in repairs and upgrades over the next five years in order to maintain “adequate conditions.”

Click here to read the full report card