Category Archives: The destruction of the middle class

Wolf Richter: Unemployment Crisis Going in Wrong Direction: Week 25 of U.S. Labor Market Collapse

Unemployment claims continue to increase, with nearly 20% collecting unemployment insurance. even according to the stringent claims criteria.

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America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.

Lance Taylor explains that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.

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Democracy Scares, from the Destruction of Bryan to the Abdication of Bernie: Why America Desperately Needs a Second Populist Movement but Ain’t Gonna Get One an interview + Review of The People, No! A Brief History of Anti-Populism by Thomas Frank

Thomas Frank explains why populist campaigners face such a hostile environment now.

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Michael Hudson: How an “Act of God” Pandemic Is Destroying the West: The U.S. Is Saving the Financial Sector, Not the Economy

The coronavirus’ effect has been to help defeat the financial sector’s enemy, governments strong enough to regulate it.

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More Giveaways to Capitalist Finance? It’s High Time To Change the Objective

Jan Kregel explains the fundamental problem with the economic system is its focus on providing finance to investors.

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Tom Ferguson: Biden Blurring Almost Everything

Political scientist Tom Ferguson juxtaposes the factions around Biden with how Roosevelt eventually stared down banks and corporatists in the second phase of the New Deal

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‘Threadbare’ US System Denounced as Study Shows 12 Million Lost Employer-Tied Health Care During Pandemic

New data on how many lost their health insurance, which often means health care, due to Covid. And the numbers are not getting better soon.

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