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Fed Pours Huge Sums Into Foreign Bank Coffers We noted even before the TARP bailout law was signed into law that bailout moneys could flow to foreign banks. We were right. A large percentage of the bailouts went to foreign … Continue reading
The “Excel Spreadsheet Error” In Context You’ve heard that an incredibly influential economic paper by Reinhart and Rogoff (RR) – widely used to justify austerity – has been “busted” for “excel spreadsheet errors” and other flaws. As Google Trends shows, … Continue reading
Poverty Spikes In America … While the Government Throws Money at the Super-Elite AP reports that the U.S. is seeing the highest spike in poverty since the 1960s, and notes: According to a report by the non-partisan Congressional Research Service … Continue reading
Even Democratic Party Loyalists Starting to Wake Up to the Fact that Obama Is As Bad As Bush … Or Worse
Obama Is Worse than Bush In Favoring the Super-Elite, Bailing Out the Big Banks, Protecting Financial Criminals, Targeting Whistleblowers, Keeping Government Secrets, Trampling Our Liberties and Starting Military Conflicts In New Countries Glenn Greenwald notes that even Democratic party loyalists … Continue reading
Bill Moyers explains: Over the weekend, a YouTube video breaking down income inequality in America went viral. *** The video, posted by user politizane and relying on data from a popular Mother Jones post, focuses on the difference between the … Continue reading
Image by William Banzai Americans Are Acting Like Slowly Boiling Frogs In the classic history of Nazi Germany, They Thought They Were Free, Milton Mayer writes: “What happened here was the gradual habituation of the people, little by little, to … Continue reading
Waste and Fraud Are the Real Causes of the Deficit With sequestration set to go into effect in a few days, everyone is talking about it (via Google trends): Sequestration means across-the-board cuts in government spending, split 50%-50% between the … Continue reading
Preface: All capitalist systems have some inequality. We don’t want to prevent all inequality … just economy-wrecking levels: Lawrence Katz, a Harvard economist, adds that some inequality is necessary to create incentives in a capitalist economy but that “too … Continue reading
The Big Banks “Would Just About Break Even In the Absence of Corporate Welfare” The government has propped up the big banks for years through massive, never-ending bailouts and subsidies. Bloomberg noted last year that 77% of JP Morgan’s net … Continue reading
Painting by Anthony Freda: www.AnthonyFreda.com How Many Constitutional Freedoms Do We Still Have? Preface: While a lot of people talk about the loss of our Constitutional liberties, people usually speak in a vague, generalized manner … or focus on only … Continue reading