Category Archives: The destruction of the middle class

Robert Reich: 5 Reasons Why Trump’s and Cruz’s Tax Plans are Huge Giveaways to the Rich

Trump’s tax plan reveals that his economic populism is three-card Monte.

Assuming Away Unemployment and Trade Deficits from the TPP

It should come as no surprise that the Peterson Institute has managed to model the impact of the TPP so that it does not increase unemployment.

Michael Hudson on Debt Deflation, the Rentier Economy, and the Coming Financial Cold War

Michael Hudson speaks with Justin Ritchie on his favorite topics, such as debt deflation, austerity, classical economists on rentiers, and the coming financial cold war.

Gaius Publius: When Trump Talks Trade, Voters Listen

It’s easier for liberals to blame Trump voters for racism than to blame themselves for the job-loss and pain of the working class.

Gaius Publius: The Goal of the Neo-Liberal Consensus Is to Manage the Decline

Neoliberals want ordinary people to accept that their standard of living will decline. It’s not hard to see whose interest that story promotes.

Krugman Then and Now on Trade

Krugman shifts ground (yet again) as hostility to the negative effects of trade deals appears to be a big component of Sanders’ Michigan upset

Some Real Costs of the Trans-Pacific Partnership: Nearly Half a Million Jobs Lost in the US Alone

The Trans-Pacific Partnership will lead to job losses overall, with the US taking the biggest hit.

Was Clintonomics Good for Working People?

Why Clintonomics does not live up to its PR.

James Galbraith Describes Major Forecast Failure in Model Used by Romers to Attack Friedman on Sanders Plan

James Galbraith examines the used forecast by Christine Romer and David Romer to attack Gerald Friedman’s favorable review of Sanders’ plan. He’d already shellacked the methodology in a 2014 book.

Introducing Kuznets Waves: How Income Inequality Waxes and Wanes Over the Very Long Run

Why income inequality is likely to remain high.

Michael Hudson Discusses the Federal Reserve and the Global Fracture

Explaining how the Federal Reserve and central bank policies like QE, saved the banks at the expense of wrecking the real economy.

Dean Baker Exposes How CBO Cooks Inflation Forecasts to Promote Deficit Scaremongering

Yet more funny forecasts from the CBO telling you why you can’t have nice things, like a better job market.