Wolf Richter: These Debt Slaves are the Government’s Largest Asset Class, and It Will Haunt the Economy for Years
Student debt isn’t just a millstone around young people’s necks; it’s weighing down the economy.
Read more...Category Archives: The destruction of the middle class
Elizabeth Warren Slams SEC’s Mary Jo White for Putting “Information Overload” Project Ahead of Dodd Frank Rulemaking
Elizabeth Warren and Mary Jo White cross swords again…but how effective can Warren be after she hitches her star to Clinton?
Read more...And Now, Price Deflation in India and China?
Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.
Read more...Artificial Intelligence and Employment
The substitution of human labour by artificial intelligence and robots is a keenly debated topic. Some claim that a substantial share of jobs is at risk, while others argue that computers and robots will lead to product innovations and hence to unimaginable new occupations. This column uses a survey of Japanese firms to examine the impact of AI-related technologies on business and employment. Overall, firms expect a positive impact on business but a negative impact on employment. Firms with a highly skilled workforce, however, have a more optimistic view than firms with lower skilled employees.
Read more...Michael Hudson: Millions Around the World Fleeing from Neoliberal Policy
Hudson tallies the high cost of neoliberal ideology.
Read more...Why So Many Americans Are Voting Against the Status Quo, in One Chart
This chart shows how much the bottom 90% has lost ground while the top 10% has pulled away.
Read more...Tom Engelhardt: How Donald Trump Reveals the March of American Authoritarianism
Trump as a symbol of an America morphing into a visibly less democratic fading empire.
Read more...Wolf Richter: What Makes This Jobs Report So Truly Ugly?
Last week’s job report was not only disconcerting in and of itself, but it also bodes ill for labor market prospects.
Read more...Our Politico Story on Why Clinton Does Not Deserve the Sanders Vote
Clinton is not interested in representing Sanders voters. They’ve gotten the memo and are acting accordingly
Read more...Hoisted From Comments: Neoliberalism Tearing Societies Apart
The true destructiveness of neoliberalism is becoming more and more apparent.
Read more...Refinancing is Dead: A Generation of Hard Times Will Continue Until Secular Real Wages Improve
Real gains by average Americans won’t come financing gimmicks but from real growth in wages. And no one in authority seems willing to provide them.
Read more...Is America Committing Slow-Motion Suicide? A Look at the Decline of CUNY
The decline of CUNY as evidence that the superrich are killing the rest of us through a slow process of attrition
Read more...Americans Increasingly Angry With Corporate Desertions via Tax Inversions
Tax inversions damage the already low credibility of Corporate America.
Read more...Inflation Targeting and Neoliberalism, Part 3
Yves here. In a bit of synchronicity, this post continues the theme of Dipherio’s podcast over the weekend on NAIRU, describing how other central banks around the world look at the issue of what inflation rate to try to achieve and why. I’m a little surprised that Epstein did not mention how the Fed kept […]
Read more...Economics for the Rest of Us Explains NAIRU, Including Its Political Implications
An explanation of NAIRU for novices, as well as a discussion of its politics.
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