Greetings folks! Another eventful week in the news. More political fall out, a major bankruptcy, mayors running off at the mouth, and much more. There was not a shortage of happenings this week, so lets get right to it.
NYC Mayor Bloomberg has been flippant lately. In an interview this week, the mayor answered speculations about a future White House bid by noting the perks that come with being the head elected official of this city. In addition to noting the United Nations as an international draw, the mayor referred to the NYPD as his own army. “I have my own army in the NYPD, which is the seventh biggest army in the world.” That sounds about right. The NYPD always was an still behaves like an occupying army in the eyes of Black New Yorkers. Does Bloomberg feel comfortable saying such brazen things like this because he is in is last term? It looks like it. This statement combined with his wish to get rid of half of city teachers definitely puts him in that “I don’t give a damn category. Being a plutocrat has its privileges.
Cain Wreck: Game Over for Herman
Herman Cain is “reassessing” his candidacy after the latest revelations of a 13 year long affair. All week, there has been speculation about whether or not Cain will drop out of the race. The GOP candidate is expected to announce his intentions today. Regardless of what decision is made, the damage is already done. We will all see what decision is made. Well, if its all over after today, at least Mr. Cain gave many of us a good hearty laugh (albeit at his expense) Edit: Cain suspends his campaign.
CUNY Students Protest Tuition Hikes
Despite protests by many students in the City University system, the University still decided to raise tuition. Tuition CUNY wide will rise 300 dollars a year, for the next five years. This will have the effect of increasing the debt burden on 10’s of thousands of students, and shutting many out of a college education. With times being what they are, its unfortunate that more people will be forced to incur debt when the prospect of jobs to pay it off is increasingly scarce.
Unemployment Drops Slightly
Speaking of jobs, the employment report actually improved. According to the latest statistics from the Department of Labor, the unemployment rate is now 8.6 per cent. While this is refreshing news, we should wait and see how this plays out for the rest of the year and into January. There are increases in employment figures associated with holiday shopping and seasonal work. Furthermore, many companies prefer to wait until January to shrink their workforce. If the unemployment rate holds, or continues to shrink, then that will be an indication of economic progress. So its a little early for anyone to claim this as a feather in their cap.If airlines are going bankrupt, is the economy recovering?
What in your opinion was the story of week?
-Marc W. Polite