Two Economic Items From NPR

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  Economist Robert Reich, a public policy professor at the University of California at Berkeley and former Secretary of Labor in the Clinton Administration, gave a short, sweet, and to the point commentary last week on NPR's Marketplace about why "austerity measures" are a bad idea in an economic downturn. Bottom line: It's not just about debt, it's also about debt as a percentage of GDP. By making drastic spending cuts, European governments are lowering demand even further, thus slowing the economy even more and making things worse. If Mitt Romney wins the election, he will try the same scheme in the U.S., with the same results.
  


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  Investigative journalist Steve Coll was interviewed last week on Fresh Air about his new book Private Empire: ExxonMobil and American Power. The book details how Exxon, one of the most despicable corporations on the planet, uses its vast power and huge piles of cash to essentially shape American foreign and tax policies to be more in line with the company's interests. Under former CEO Lee Raymond, Exxon engaged in an extensive campaign to undermine climate science and prevent action on global warming. Internationally, Exxon's cash plays a key role in propping up various third-world dictators who keep a firm grip on their nations' oil resources and leave next to nothing for their citizens. Mr. Coll points out that Exxon has become what amounts to a nation-state in its own right, with its own agenda that may or may not align with that of the United States.