Working Life

Gee, I can’t wait. The Romney ship is sinking, the rats are starting to abandon ship, the leftover cretins are starting to point fingers at each other but, wait, all will be saved because the Romney people are about to give us more details on what their candidate would do as president.

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You’ve heard repeated as if it’s gospel: tax cuts boost economic growth. Except there has never been any evidence to back up what has to be seen as middle-ages alchemy divorced from reality. And here are some facts to prove it.

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Chalk this up to experience or maybe cynicism, or a little of both. But, there should be a shudder rippling through every sector of the Egyptian workforce. Because, riding to your rescue—hopefully, you get my sarcastic inflection–are American corporations.

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Yes, unions brought us the weekend. But, there are life-changing skills that unions often open up for people who might not have access to them. Something to remember via a strong Labor Day column from Michael Hiltzik in The Los Angeles Times, a piece that celebrates, rather than bemoans, the state of unions.

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Wed Aug 29, 2012 at 07:30 PM EDT
Banksters Get Off Again: Citibank Pays Off Crimes, Robert Rubin Skates

by Tasini

Same old story. The crimes of the financial crisis remain, for the most part, unpunished-except if you are a shareholder of a financial institution who is paying the price for the misdeeds and crimes of the greedy, overpaid executives who destroyed the lives of millions of people. Today’s example: Citibank.

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Austerity is a bad thing. As I’ve pointed out before, when an economy is suffering from lower demand, the last thing you want to do is squeeze the pocketbooks of the very people who you want to have out there spending money. But, here’s another thing: it makes you sick. Literally.

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The barrage against Mitt Romney’s record as the chief executive of a hedge fund is head-shaking. Not because it isn’t legitimate to probe his record of job creation or destruction while at the helm of Bain Capital. Rather, there is a more fundamental question: why would anyone think a business executive is qualified to run a country?

This is a common choice voters are being offered around the world. Unemployment is high, governments appear incapable of charting a course for economic security and people feel afraid.

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The gyrations of stock markets, the Euro crisis and the conflicting predictions about the direction of the economy are related to one basic point: average people are tapped out. Wal-Mart tells us the story in pretty simple terms. And it is the story of poverty and class warfare. Turns out, who knew, but a paycheck […]

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Among the myths promoted by the traditional press–myths that hurt the entire country–is the “independence” of the ratings agencies. And that myth was one of the underpinnings of the financial crisis–the ratings agencies gave positive ratings to the crummy debt securities that were at the heart of what led to millions of people losing their […]

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You don’t have to look further than the utterly pathetic game of repeated “stay-out-of-jail” cards handed the global banker elite to understand why people are pissed—whether in the U.S., Greece or pick a country. Time after time, the guys who cratered the economy, and robbed people of their jobs and wealth, are given a pass […]

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