When the Middle Class Lost Its Wealth
Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.
Read more...Category Archives: The destruction of the middle class
Everything You Thought You Knew About Western Civilization Is Wrong: A Review of Michael Hudson’s New Book, And Forgive Them Their Debts
Why debt unforgiveness is the original and incurable curse on our post-eighth-century-B.C. Western Civilization,
Read more...Gaius Publius: Amazon Rips Off 238 Cities, States and Provinces, Then Builds in NYC and DC
More evidence that Amazon is nasty.
Read more...Apple’s “Capital Return Program”: Rewarding the Wrong People
nstead of rewarding the taxpayers and employees who actually create value for the tech giant, Apple is doling out massive stock buybacks
Read more...Trump and the Midterms: Is It Not The Economy, Stupid?
What role did the state of the economy likely play in the midterm results?
Read more...AOC Rental Woes a Reminder of Worsening Conditions for Workers
Rising rental costs put a spotlight on how it is even harder than ever for ordinary workers to get by.
Read more...The Super Rich Get Even Richer
The continuing rise in wealth of the super rich bodes ill for financial and social stability.
Read more...Erasing Economics and Economic Policy from Politics: The Race and Xenophobia Sideshow
More and more economic studies find that inequality hurts growth. Adolph Reed discusses why politicians focus on divisive messaging rather than broad-based economic policies.
Read more...Mischaracterizing HAMP and Principal Reduction: A Regression Discontinuity Test Error
Explaining a fundamental error in a widely-touted paper on HAMP modifications.
Read more...Economic Distress Did Drive Trump’s Win
Contrary to the dominant media narrative, social issues like racism and sexism on their own can’t explain Trump’s success.
Read more...What’s the Problem with Financialization?
Some of the analytical sleights of hand used to promote the ideology of financializatation.
Read more...Michael Hudson: Rescuing the Banks Instead of the Economy
Michael Hudson on his themes of how banks are mainly funding real estate rather than the economy and the problem of failing to write down debt that can’t be repaid.
Read more...Can Politics Ever Be Compassionate?
Why the time is overdue to have politics give much higher priority to reducing suffering.
Read more...A Follow-Up on the Reasons for Prime Age Labor Force Non-Participation
Some surprising findings on why labor force participation of prime age men is flagging.
Read more...FICO Gets Creative With Credit Scores to Facilitate Getting More Americans in Debt
FICO is evil.
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