Category Archives: The destruction of the middle class

Geithner Ghostwriter Mike Grunwald Tries to Shift Financial Crisis Narrative Away From The Big Short

It’s sad that you have to be something of a detective to decipher what passes for content at most major American news outlets. In the case of Michael Grunwald, however, we have a decent set of indicators about the normally hidden agenda. The Politico writer worked with Tim Geithner on his memoir. In fact, I believe he has said publicly that he didn’t know a lot about finance before meeting Geithner. So when Grunwald decides to leap into anything involving this topic, we can assume the end result is not altogether different than what it would look like if Geithner wrote it with his own byline.

The latest example is a nominal review of The Big Short, which is not really a review. It’s an attempt to steer the narrative of what happened, in the financial crisis and its aftermath, to territory that comforts elites.


Capitalism Versus The Social Commons

How the struggle over who controls the commons, the monied classes or a broader group of citizens, reveals the fundamental contradictions of capitalism.


Mathew D. Rose: Now It Is Poland’s Turn

Germany is very upset that Poland has voted in a populist, Euroskeptic, anti-austerity government. And Germany is particularly unhappy that the new regime is increasing its control over public media….which Germany already has in place.


Michael Hudson: The Top Three Economic Stories of 2015

Yves here. I beg to differ a tad with Hudson in this Real News Network video regarding his third economic story. The US had already pushed Europe to side with it against Russia when it hit Russia with economic sanctions. The US had similarly declared an economic war of sorts against China with its “pivot […]


“Summer” Rerun: “Why America Will Need Some Elements of a Welfare State”

In 2007, the Financial Times’ Martin Wolf Wolf concluded that America needed some form of a welfare state. His argument is as valid now as then. Yet it is hard to imagine that anyone would make it now, particularly in light of the effort of soi-disant liberals to pretend that Obamacare insurance policies bear any resemblance to “universal health care”.