Daily Digest - May 4: Breaking Up is Hard to Do

May 3, 2012Tim Price

What you need to know to navigate today's most critical debates.

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The 99 Percent Wakes Up (Daily Beast)

Roosevelt Institute Senior Fellow Joseph Stiglitz writes that worldwide protests have been fueled not just by rising inequality, but by the sense that the 1% have risen to the top by smashing capitalism's moral compass and sweeping the pieces into the dust bin.

Plutocracy, Paralysis, Perplexity (NYT)

Paul Krugman argues that our ability to respond to the economic crisis has been hindered by the fact that the 1% have bought a controlling interest in the GOP, and they've decided that reason and evidence are no obstacle to pushing their preferred doctrine.

Why the Economy is Heading for a Stall (Robert Reich)

Ahead of today's jobs report, Robert Reich's forecast calls for stormy weather as consumers exhaust their savings and conservatives continue to cut back on government spending in their quest to prove that window-shopping is a valid basis for an economy.

Why 2012 Could Be a Year of the Woman -- and Why It's Important That Women Run (Forbes)

So far the candidates in this cycle have spent a lot of time talking about women in an attempt to win them over, but NND Editor Bryce Covert writes that if all goes well, more women may actually get a chance to speak for themselves after this November.

Obama's Not-So-Hot Date With Wall Street (NYT)

The romance between Barack Obama and Wall Street was strong in 2008, but Nicholas Confessore reports that the love has faded since he stopped showering banks with expensive gifts and -- the ultimate betrayal -- started flirting with the 99%.

Why crying 'uncertainty' is profitable for the business community (WaPo)

Suzy Khimm notes that business leaders' repeated complaints about regulatory uncertainty aren't actually a request for more details. They're a hint that the only way to make them really, really certain would be to bring them in and let them write the rules.

U.S. Chose Better Path to Recovery (NYT)

Floyd Norris writes that U.S. bank recapitalization and quantitative easing have been unpopular but effective for stabilizing the economy, while Europe's reluctance to do either has left it double-dipping like George Costanza with a fresh bowl of French Onion.

Europe Debacle Is Full of Lessons, but Which Are True? (Bloomberg)

Ezra Klein argues that there's little chance of the U.S. becoming Greece, but if the EU is to survive, it will need to become a lot more like the U.S., where despite massive internal conflicts, we've at least settled on the decision that our union should exist.

Mitt Romney and Paul Ryan's Budget (NYT)

Simon Johnson writes that Mitt Romney will have trouble positioning himself at the center for the general election if he continues to embrace the Ryan budget, which is farther off to the right than that blank part of the map labeled 'Here There Be Dragons.'

How Romney Brilliantly Summed Up GOP Ideology in a Single Sentence (TAP)

Jamelle Bouie notes that Romney's claim that global warming isn't a problem because it's not "America warming" (which requires you to believe that America is not part of Earth) reflects a conservative movement paradoxically motivated by apathy.

With additional research by Elena Callahan.

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