Heidi’s articles about The Banks are the only articles about The Banks: “The reaper has come for America’s strongest bank. JP Morgan, the bank that sailed elegantly through the financial crisis with no scratches, just announced its first quarterly loss since 2004 … Consequences, long delayed, are being visited on the financial sector for its abuses, and JP Morgan’s bad quarter is the first really tangible evidence of that.”
If you’ve been mostly ignoring the news this summer because you’ve been chilling on a boat or relaxing in a treehouse or just decided that you know what life is too short do anything but just take one day at a time and try to get up at a reasonable hour and eat some fruit everyday and drink a glass of water and say hi to your neighbors and maybe smile at a baby every now and then and who has time to really worry about the Larger Problems of the Country and World at Large Anyway, well: Heidi N. Moore has a good little synopsis of Where We’re At and also how ridiculous it is that all anyone can talk about is Syria when there is Domestic Chaos Afoot. (“It would be a treat to see White House aides lobbying as aggressively – and on as many talk shows – for a better food stamp bill, an end to the debt-ceiling drama, or a solution to the senseless sequestration cuts, as it is on what is clearly a useless boondoggle in Syria.”)
Heidi N. Moore has lots to say—and nothing good—about the fiscal cliff deal (“deal”) passed by the Senate early Tuesday morning: “So, after a day, and week, and year filled with manufactured drama, the US Senate not only failed its only goal – reducing the US deficit – but also built a mountain range out of the molehill of budget talks.”
And if you’re in the mood for more good (“good”) news, her piece about the longterm unemployed and how a real deal likely wouldn’t help them anyway is a doozy (“The predicament of the long-term unemployed only has a passing relationship to the fiscal cliff. There happens to be no one in the government who can put their hand up and protect the unemployed”).
Heidi N. Moore has a delicious translation of Speaker Boehner’s letter to Pres. Obama about THE FISCAL CLIFF, and you should definitely read it. (“We’ve been pretty clear that we don’t want to raise taxes on people making more than $250,000 a year – but if we absolutely have to, then we insist on cutting government spending on programs like social security and Medicare.”)
If this sarcasm piques your interest in the cliff and now you’re like, oh maybe I should read about that I guess, MAY I SUGGEST this thread in which Heidi and her Guardian pal Dominic Rushe answer reader questions about the fiscal cliff. Their responses are extremely readable and understandable.
FOR EXAMPLE, Heidi answered the question, “Why is it called a cliff?” super simply (TO SCARE YOU), and then explained the whole mess in four short paragraphs.
“There’s no good reason that it’s called a cliff! The phrase was invented by Federal Reserve chairman Ben Bernanke in February and everyone stuck with it.
If LIBOR makes your head hurt, this Marketplace report by hero and scholar Heidi N. Moore might make it hurt a little less (maybe). It’s a real-life example of a real-life town who lost real-life money because of a made-up rate! You can read the transcript, but really you should just listen to it because it’s five minutes, there are pool sounds, and Heidi Moore’s voice will seep into your mind and make you understand all things (proven).