Category Archives: Free markets and their discontents

Media Consolidation Thwarted Again as Comcast Backs Off Time Warner Deal

Late Thursday, Comcast apparently signaled that they would abort a 14-month bid to purchase Time Warner Cable, in a deal that would have created the nation’s largest cable operator by a wide margin. The FCC was going to recommend a hearing, which is a prelude to cancellation. The spin is that there are more consolidation attempts on the way, but there’s no guarantee that they would be successful either.

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The Continuing Depopulation of Detroit

Detroit is getting the same treatment as Latvia and Ireland, and we are already seeing similar results in Greece, with most people who have good foreign job prospects taking a hike. But while Latvia and Ireland stabilized at much lower levels of output and have started to recover from their, Detroit, like Greece, looks like a failed state. And this is perversely seen as acceptable in America.

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Dubious FX Broker CWM FX Claims Sports Celebrity Scalps, but Princess Anne Remains Unmolested

The CWM FX fraud bust, a murder, Princess Anne and some groping. It’s BAU in the world of sports sponsorship.

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Ilargi: Warren Buffett is Everything That’s Wrong With America

I’m sure readers can add to this antidote to the pervasive Warren Buffett hagiography in American media. For instance, Buffett lavishes praise on the executives of Wells Fargo, when Wells engages in abusive servicing (see here and here for examples). So Buffett is part of the cohort that has held bank leaders as competent and deserving of their leadership roles, which serves to hide the fact that a big chunk of industry profits rests on predatory behavior, like gotcha terms in checking accounts and credit cards.

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Joe Firestone: The New York Times Soft-Pedals the Dangers of the TPP

While the New York Times did a public service by joining Wikileaks in publishing a draft chapter of the TPP, the accompanying article is quite another matter. Joe Firestone has taken it upon himself toshred analyze it. The sad reality is that the Times is never going to oppose neoliberalism in a serious way.

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Bernie Sanders Blasts “Robin Hood in Reverse” Subsidies to the Rich, Calls for Full Employment

Bernie Sanders gave a forceful, if sobering, assessment of the state of the economy from the perspective of working men and women, as well as retirees, and focused on the hypocrisy of corporations and the wealthy that poor-mouth as a way to extract even more subsidies and tax breaks.

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Austerity Kills: Economic Distress Seen as Culprit in Sharp Rise in Suicide Rate Among Middle Aged

I’m surprised, but perhaps I shouldn’t be, that a recent study hasn’t gotten the attention it warrants. It points to a direct connection between the impact of the crisis and a marked increase in suicide rates among the middle aged.

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