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Archives by Tag 'Economy'
Austerity Versus a People’s Budget
MARK VORPAHL
It’s no secret that most cities, counties, states and school districts in the U.S. are facing big deficits. What is less understood is the extent to which austerity cuts have become politicians’ bi-partisan response to the situation. The dramatic measures bein...
The Missing Recovery
PAUL CRAIG ROBERTS
Officially, since June 2009 the US economy has been undergoing an economic recovery from the December 2007 recession.  But where is this recovery?  I cannot find it, and neither can millions of unemployed Americans. The recovery exists only in the official measur...
A Robot Didn’t Steal Your Job
ROB URIE
When Barack Obama first entered office the financial crisis created by Wall Street banks was at its peak and hundreds of thousands of people per week were losing their jobs. As writer ...
Economic Sabotage
ANDREW FIELDHOUSE
As “sequestration” spending cuts seem increasingly likely to take effect tomorrow, and the blame game escalates over responsibility for the fallout, some incorrect ...
Warning: Stocks Likely to Crater from Here
CHRIS MARTENSON
I don’t relish the job of constantly pointing out the risks to the equity markets. But since few on Wall Street seem willing (or able) to do this, I’m “making the call” for a market correction, as enough variables have aligned to indicate a high li...
Servants and Their Bosses
DEAN BAKER
The retirement of the baby boom cohorts means that the country’s labor force is likely to be growing far more slowly in the decades ahead than it had in prior decades. The United States is not alone in facing this situation. The rate of growth of the workforce has slowe...
The Push for Sequester Cuts
ERIC ZUESSE
Republicans in Congress have decided to reject economists, the Congressional Research Service, and the International Monetary Fund, in order to argue that the sequestration cuts will be good for the economy. To do this, they also misstate Keynesian economics, and t...
The Greek Economy is Kaput
MIKE WHITNEY
“The Greek economy is finished. The Greek economy is in a great, great depression… There is no power, no force within the Greek economy, within Greek society that can avert it….Imagine if we were in Ohio in 1931 and we were to ask: What can Ohio poli...
A Quest for New Jobs Where None Exists
JOHN WALSH
“Those jobs are not coming back.” The late Steve Jobs to Barack Obama. Hot on the heels of his State of the Union address with its emphasis on the moribund job market,...
Masters of Fraud
ROB URIE
The most telling line from PBS’s Frontline piece ‘The Untouchables,’ on the absence of criminal prosecutions ...
The Fall and Rise of the French Rothschilds
EVAN JONES
‘Rothschild’ is a household name. It belongs to a family banking dynasty with a two hundred year lineage, reputedly once supremely powerful. Omnipresent historian Niall Ferguson has devoted two volumes to this history. The Rothschild name is now bestowed on a s...
The Debt-to-GDP Diversion
DEAN BAKER
Morgan Stanley director Erskine ...
Still Clueless About the Economy
DEAN BAKER
The latest fad in Washington economic policy debates is arguing over the level at which the government should stabilize the debt-to-GDP ratio. The doves are okay with a debt-to-GDP ratio of 73 percent or even 76 percent. The hawks want 60 percent or even less. This is the...
Obama’s Carnival of Fraud
NORMAN POLLACK
The big picture is clear, from drone warfare as escalation of sought-after global US military hegemony to the trivialization and evisceration of government’s regulatory functions, all pointing to a business-as-usual continuation of policies and practices going back, reg...
Remember Growth?
MIKE WHITNEY
One thing you can say about Obama; he never fails to disappoint. Last night’s State of the Union Speech is a perfect example. In his typical lofty rhetoric, the president promised to continue to implement his regressive social and economic policies without pause pro...
What Will Lew Do?
DEAN BAKER
It has been more than five years since the onset of the financial crisis. It will be at least several more years before the economy recovers fully. And the too-big-to-fail banks are ...
Time to Drop Money From Helicopters
KEVIN ZEESE and Dr. MARGARET FLOWERS
Milton Friedman of the Chicago School of Economics suggested in 1969 that dro...
Housing Hijinx
MIKE WHITNEY
“Experts do not seem to think that we are going back to the same boom. There might be ‘cheap talk’ that housing is ‘off to the races again,’ but the people who think about it seriously, doubt it.” — Robert Schiller,...
End the Fed
ROB URIE
The Federal Reserve is supporting and maintaining a system of finance capitalism that by the ‘rules’ of capitalism should have disappeared in 2008. Wall Street, with its outposts now circling the globe, claims its ‘due’ under the premise its system of savage capit...
What they Don’t Tell You About the Economy
Dr. MARGARET FLOWERS AND KEVIN ZEESE
The corporate media and front groups for big business and political parties leave out what we believe are important details. In this week’s news: the real national security budget is bigger than acknowledged, the growth in GDP before the election seems to be due to ...
Want to Fix the Economy? Spend More Money
MIKE WHITNEY
The economy operates on a simple principle: When people spend money, the economy grows. That means the goal of economic policy should be to maintain a level of spending that keeps the economy growing and minimizes the unavoidable peaks and valleys of the business cycle. T...
Why Economic Inequality is Not Good for the Economy
ROB URIE
The nineteenth and twentieth centuries saw multiple discourses on the relationship between concepts of ‘truth’ and power—social, political and economic. The ‘view from nowhere,’ the rhetorical device of science and economics used to claim that truth exists in ...
There is No Hope for Change
DEAN BAKER
There have been two momentous events in the last week. Of course President Obama’s swearing in for a second term is a big deal, even if somewhat less historic than his inauguration back in 2009. The other big event was the release of the Federal Reserve Board’s ...
Exit Geithner
DEAN BAKER
Treasury Secretary Timothy Geithner’s departure from the Obama Administration invites comparisons with Klemens von Metternich. Metternich was the foreign minister of the Austrian Empire who engineered the restoration of the old order and the suppression of democracy...
Housing Bubble on the Horizon
MIKE WHITNEY
The US Consumer Financial Protection Bureau’s rule defining a “qualified mortgage”, which was announced on Thursday, creates vast new opportunities for the nation’s biggest banks to engage in predatory lending practices with impunity. While the mai...