Dean Baker compares the United States and China

The United States as #2 – Al Jazeera English.

China races to the top while the United States races to the bottom.

Quote of the day

This one appears on the Center for Economic and Policy Research website. The subject is Alan Greenspan:

Former Federal Reserve Board chair Alan Greenspan shared his wisdom on Face the Nation yesterday. His wise words were presented in the top of the hour news segment on Morning Edition.

Greenspan is best known for being unable to see the $8 trillion housing bubble, the collapse of which wrecked the economy. Given Greenspan’s obviously limited understanding of economics, one wonders if Face the Nation and NPR were unable to find a street drunk to share their views.