Tag Archive | "Economy"

“Big Labor” or Wall Street: Who Hurt The American Economy?

    The answer to this question would appear to be obvious. But, it needs constant reinforcing–as you will see from the debate (if you can call it that) last night between yours truly and Larry Kudlow and a stooge from the right wing. It’s almost laughable and entertaining–if the consequences weren’t so dire. The subject […]

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Disasters Are Good For The GDP

  The tragedy in Japan is real and the loss of life truly sad. But, there is one other piece of knowledge to glean today that is a long-term keeper: how disasters are GOOD for the Gross Domestic Product, and what that tells us about how we think about "recovery" and "economic growth".     […]

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Our Demand: INCREASE SOCIAL SECURITY BENEFITS

I think we are making a mistake, both economically and politically, by confining our defense of Social Security to an argument about simply preserving current benefits. We should be pushing for an INCREASE in Social Security benefits as both a social and economic necessity.   Let me start with the hardest challenge facing people who […]

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The Great Convergence: China, India Eating Our Lunch

While a bunch of elected "leaders" engage in a childish game of theater (reading the Constitution), while we flush down the toilet trillions of dollars in wealth on immoral wars, while one half of the working class is being turned against the other half and unions are being blamed for ills created by the incompetent, […]

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Profits Based on Cost-Cutting

   What does it mean when corporate profits are up–but people aren’t buying enough to sustain those profits? As in this report today via The Wall Street Journal: A record number of U.S. companies beat earnings expectations in the third quarter, but a big portion of their profits came from cost-cutting, disappointing investors who were […]

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Priorities: Afghanistan Versus Worker Pay Hikes

Our problem in the country is not the lack of money or the lack of resources. It is how we set our priorities, whether we choose, for example, to value our communities over corporate special interests (the health care fight is one clear example of that struggle). Today, we see priorities pitted against each other […]

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Short-Lived Euphoria

   I feel like I’m in the middle of Star Trek V: The Final Frontier movie. You know, when the entity masquerading as God talks a good game and is trying to seduce his listeners into believing that a wonderful future awaits–if only he can hitch a ride on the Enterprise. To which Capt. Kirk […]

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You Can’t Make This Up

   You want contrast? I’ve got a doozy for you this morning. Check out these two contrasting developments. First, no surprise, the economy isn’t growing…duh: The economy grew less than expected from April to June, the government said on Thursday, and it shrank in the final months of 2007, dimming the outlook for a quick […]

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War, The Economy And The Death of A Man

Intuitively, a lot of people understand that war and a fragile economy are related. But, nothing brought home the connection better than the death of Andrew Seabrooks. His life, and death, speak more about what we face than any politician’s rhetoric.   You see, Andrew died because he had no option but to go to […]

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Stimulus Misdirection

    In the past few days, there has been mounting discussion in the political class about some sort of "stimulus package" that should be conjured up in Congress to try to bolster the economy. Today, for example, The Wall Street Journal has this: Amid concern about the economy, House and Senate Democrats are preparing legislation […]

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Stimulus Misdirection

    In the past few days, there has been mounting discussion in the political class about some sort of "stimulus package" that should be conjured up in Congress to try to bolster the economy. Today, for example, The Wall Street Journal has this: Amid concern about the economy, House and Senate Democrats are preparing legislation […]

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Small Step For Minimum Wage

Catching up to this so you’all may know about this…busy weekend…From The Wall Street Journal yesterday: Democrats Move Ahead On Minimum-Wage Rise By DAVID ROGERSApril 21, 2007; Page A3 WASHINGTON — House and Senate Democrats reached agreement on a $4.8 billion package of business tax breaks that the party hopes will clear the way for […]

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We Are Not Getting Our Share

A few days, I got a report from the good folks at the Center for Economic and Policy Research on a topic that hasn’t gotten the attention it should–the break between productivity and wages. CEPR’s report focuses on looking at productivity and how that relates to wage growth and income inequality. Some of the conclusions: […]

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No Wonder People Are In Debt

Louis Uchitelle has a strong and heart-breaking story about the choices auto workers are having to make as tens of thousands of them leave the industry–the largest exodus of workers from one American industry in decades, according to the story. What caught my eye, within the wrenching stories, was this paragraph: Across America, more than […]

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Productivity Slowing But Do We Care?

This morning, The Wall Street Journal has a story about the slowing of productivity. But it misses the main point. First, here’s the main thesis: Productivity Lull Might Signal Growth Is Easing Ripples Could Confuse Interest-Rate Outlook; Fed Remains Optimistic By GREG IPMarch 31, 2007; Page A1 The U.S. productivity boom that began in the […]

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The Blind Federal Reserve

If you are one of the 48 million Americans without health care, if your wages are barely rising or are stuck, if your debt level is crushing because you can’t keep up with the basic bills that pay for the rock bottom necessities of life, if you have no real retirement…hey, don’t worry because the […]

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