Capitalism – Not China – Is to Blame for the Current Global Economic Decline
Capitalism’s “recovery” now proceeds like another speeding train headed toward contradiction and catastrophe.
Read more...Category Archives: The destruction of the middle class
What Influence Does Wall Street Have Over Candidates Clinton and Sanders?
Clinton plays with figures to understate her degree of Wall Street campaign support, and that ignores past support to the Clinton Foundation.
Read more...U.S. Corporations Don’t Need Tax Breaks on Foreign Profits
Why a proposal to lower the tax rate on corporate funds that are “offshore” only from a tax perspective is just another corporate gimmie.
Read more...The Predictability of Political Extremism
What’s at stake: The rise of the extreme right in the latest French election has mostly been treated as surprising or reflecting special circumstances like the November 13 Paris attacks. But a large literature linking extreme right votes to persisting depressed economic conditions suggests that longer run factors are at play.
Read more...The Fed’s New “Operation Twist”: Twisted Logic for Bank Profits at the Expense of the Real Economy
How did Janet Yellen and the Federal Reserve justify their rate increase now, despite strong signs that there is little economic basis for doing so?
Call this an exercise in twisted logic, plain and simple.
Read more...Matias Vernego: Neoliberalism Resurgent: What to Expect in Argentina after Macri’s Victory
The election of businessman Mauricio Macri to the presidency in Argentina signals a rightward turn in the country and, perhaps, in South America more generally. Macri, the candidate of the right-wing Compromiso para el cambio (Commitment to Change) party, defeated Buenos Aires province governor Daniel Scioli (the Peronist party candidate) in November’s runoff election, by less than 3% of the vote.
Read more...Matthew Cunningham-Cook: How the Christie Stole New Jersey Local Government Workers’ COLA
A vignette of how pensioners are being shafted by being denied their COLA, or cost of living increase. In New Jersey, this looks to be a transfer to Wall Street.
Read more...Demise of the US Middle Class Now Official
A study by Pew gives a new look at the fall of the middle class and how the accompanying rise in income stratification is playing out.
Read more...The Importance of Wealth Concentration and Why It is So Difficult to Measure
As bad as available data says wealth concentration is, it is probably even worse.
Read more...Guess What? You Can Pay $600 a Month to be Homeless in San Francisco
Being homeless in San Francisco is not necessarily a bargain.
Read more...America to Working Class Whites: Drop Dead!
On the fallen status of lower-class whites, and the poor prospects for many of their betters.
Read more...“Failed: What the ‘Experts’ Got Wrong about the Global Economy”
An excerpt from CEPR co-director Mark Weisbrot’s important new book, Failed.
Read more...Tom Ferguson: Who is Supporting Trump?
Our favorite curmudgeon, political scientist Tom Ferguson, appeared on Real News Network to tease some signal out of the considerable noise on Donald Trump.
Read more...From G20 to Labour20
Labour20 set forth important goals not just for labor but for the economy and broader society. But does organized labor have the credibility to promote these aims?
Read more...The Disaster of Greek Austerity – What Next?
More on the ground readings on the impact of austerity in Greece.
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