Monthly Archives: July 2013

More Obama Big Lies: Touting Sweatshop Amazon Warehouse Jobs as “Middle Class”

Obama needed a visual to show that, no, really, truly, jobs really are being created somewhere in America for yet another one of his exercises in trying to pretend that he’s on the side of ordinary Americans. So Obama used as his backdrop an American success story, Amazon, which is opening a new a warehouse in Chattanooga and hiring 7,000 people. That choice tells you everything about what Obama’s “middle class” program is really about.

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Memo to Eliot Spitzer: If Even Harvard’s Own Law Firm is More Loyal to Bain, How Can You Get Good Legal Advice?

The saga of Harvard Management Company’s relationship with its lead law firm, Ropes & Gray, is a cautionary tale for those who like to believe that private equity investors are doing a good job of taking care of their interests. Just follow the money.

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James Galbraith on Social Breakdown and Financial Stress in Europe and Why the Word “Stimulus” Needs to be Banned

Yanis Varoufakis provided the English translation of a new interview with James Galbraith published in Suddeutsche Zeitung. Galbraith focuses on institutional arrangements, the need for restructuring and reform, and constraints on growth.

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Tom Engelhardt: Edward Snowden vs. Robert Seldon Lady Shows How Our One-Superpower World Works

Retired CIA agent Robert Seldon Lady, convicted in absentia in Italy for a rendition/kidnapping operation, is picked up in Panama on an Interpol warrant, hits the news for a day, and then is allowed to fly back to the U.S. where he disappears — and despite the Edward Snowden case, the Washington media doesn’t even blink.

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Monday DataDive: June’s New and Existing Home Sales and Advance Report on Durable Goods

By rjs, a rural swamp denizen from Northeast Ohio, and a long-time commenter at Naked Capitalism. Originally published at MarketWatch 666.

This week we’ll look at sales of previously occupied homes, which unexpectedly slipped more than one percent in June… Some think it’s the effect of higher interest rates, but there’s not enough evidence in the data, which showed even higher prices, to pinpoint a cause.. Then we’ll look at the census report on sales of new homes, which some think were at a 5 year high, and explain that Census doesn’t even know if they rose or fell in June… Finally, we’ll look at new orders for durable goods, which appeared to be up more than expected in June, and find that once we strip out the orders for aircraft, new orders for other durable goods put up a goose-egg…

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