Tag Archive | "Depression"

Shuddering

A few of us have never bought the idea that the world economy has recovered from the financial crisis—mainly because people were struggling to make ends meet before the crisis. Add to that a mind-boggling obsession to impose austerity on the very people are struggling and, presto, you have the perfect storm for a mess. And just in the past 24 hours we get a flavor of this.

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Krugman: “OWS Has Done A Great Service”, Wall St Committed Crimes

   A few months ago, I spent 5-6 hours interviewing Paul Krugman for Playboy magazine. It’s now on-line here. He speaks candidly–surprise–about the economic misdeeds of Wall Street, the foolishness of the current austerity obsession and focus on the non-existent debt crisis, and a whole range of topics including his view that the Obama Administration […]

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Rejoice, Oh, Austerity Mongers: It’s Already A New York Reality

   I’ve written a lot about the complete immoral insanity of the obsession over the phony debt and deficit "crisis"and the rush to impose austerity on the people when we really need much more public spending to employ the masses of people who are falling, falling, falling further behind. Well, truth is austerity is not […]

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BREAKING Greeks General Strike Against Austerity. We Need The Same

   Greeks have taken a big part of the brunt in Europe because of the preying on its country by banks and international institutions. Essentially, the failed strategy has been all about AUSTERITY: shrink the economy even more in return for not…plunging the economy even deeper.    The people in Greece have had enough–and they’ve […]

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Capitalist Voices Say: Print Money–Or Be Afraid…VERY AFRAID

   You can smell the fear and the alarms going off–not by reading The Nation (snore…kick me when it has something new to say) or The New York Times, whose "economic" reporters, with one or two exceptions, are astonishingly dumb. For some real insights, look to the Financial Times and The Economist. And the message […]

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False Prophet Slobbering: Buffett The Fox in The Chicken Coop

   It is a sign of how truly leaderless we are, from Congress to the White House, that people are slobbering over a billionaire’s declaration that the rich should pay more in taxes. Well, duh.    But, let me be one voice who cautions, at the sight of so many puppies rolling over in joy […]

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“Guys who can’t get a job on Wall Street get a job at Moody’s”

   Every day, there is a new joke about the economy–though, the joke is a cruel one on most normal people and unfortunately, the transcribers of the news (nee "journalists") don’t get the jokes largely because they are (a) really dumb and/or (b) don’t really care and/or (c) are so wrapped up in being "serious" […]

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Moody’s Threatens U.S. Credit–Hah! Who Cares What Moody’s Says?

    This is so absurd it made be burst out laughing in the midst of a sip of coffee this morning–and fittingly the coffee splashed over the idiotic front-page article in The New York Times (yes, I still read the actual paper version) that hails the newest words from the mountaintop, wisdom passed down from […]

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Corp America DROWNING in Cash: Just Not Interested in Giving People Jobs

    The bad news will keep pulverizing your grey cells: housing prices sliding, stock markets weak, bond yields in the toilet, the dollar down (which I actually have argued is a good thing)…     But, do not make the mistake of thinking that means that companies are lacking for money. Nope. Times are […]

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The “Recovery” Mirage: It Still Comes Down To Wages

    Over the next 18 months, brace yourself for a lot of hand-wringing about the economic crisis we’re in. Every so often, we’re going to be told the "recovery" is just around the corner.  Oh, let’s be clear: the worries will have NOTHING to do with what is actually happening to PEOPLE. It will have […]

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Stop The Deficit Silliness: Even OECD Says High Unemployment Is The Crisis

   My head hurts every time I read about the phony crisis about the debt and the deficit–whether it be the idiotic headlines bowing down to the rating agencies’ hand-wringing (the same bozos who did such a good job blessing the financial instrument trash churned out by Wall Street) or the daily headlines about a […]

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Why We Need A Job Party–Today’s Jobs Figures

It is still very grim out there for those people who want decent paying work. Not just a job–but a job that pays a fair wage. Today’s numbers make even more clear–we need a Job Party.   I’ll talk about the Job Party a bit more. But, first, let’s look at the numbers: While the […]

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The Republican Economic Propaganda Fraud Will Give Us A Lost Decade

   A lot of the voices on our side repeat the absolute truth: the Republican Party is simply not telling the truth about the seeds of the economic disaster we are dealing with and that it is in fact the government–our government–that prevented things from getting a lot worse AND we would be in much […]

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No Surprise

   I am continually amazed at the way people–or at least the brain-dead traditional media–express surprise when this happens: In the one-two punch many had long been fearing, hiring by businesses has slowed significantly while government jobs are disappearing at a record pace. Companies added 64,000 jobs last month, after having added 93,000 jobs in […]

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Breaking News: Fed May Return To Planet Earth Reality

   Well, it’s nice to know that even the Federal Reserve can hear: The Federal Reserve will meet on Tuesday faced with a pivotal decision about whether to abandon its presumption that the economy is gradually picking up steam and begin to consider new steps to keep the recovery from sputtering out.    That easily […]

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No Money In The Till

   This is the news today: U.S. consumer spending was flat in June as incomes stopped growing and prices remained subdued, pointing to a weaker economy.    But, that should not be a surprise. Which makes this very curious:    Federal Reserve Chairman Ben S. Bernanke said rising wages would probably spur household spending in […]

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