Working Life

To paraphrase Lloyd Bentsen, you haven’t met a real elitist until you consider the life of John Paulson. His salary last year: $3.7 billion. That is not a misprint: three billion, seven hundred million dollars. Now that’s doing elitism in a big way. Welcome to the new Gilded Age.   Today, Institutional Investor Magazine releases […]

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    I know this won’t shock those of you who already know something is up. But, the details are important–from the folks at the Economic Policy Institute: Over the last 60 years, the U.S. tax code has dramatically shifted away from corporate taxes and toward taxes on individuals, especially through the payroll tax, the financing […]

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  Right now, the so-called "free trade" deal with Colombia is floating dead in the water. But, once the sniping goes away over process, the horse-trading will begin. And the Democratic freshmen in the House may end up being key votes.   By now, we know that Speaker Pelosi is blocking a vote right now, […]

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  I keep thinking that there will be a limit on how far thinking people will go to turn a blind eye to the death and misery brought to us courtesy of so-called "free trade". But, lo and behold, every day brings new wonders at the capacity of our government, and its servants in the […]

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    More news today: The economy shed 80,000 jobs in March, the third consecutive month of rising unemployment, presenting a stark sign that the country may already be in a recession. Sharp downturns in the manufacturing and construction sectors led the decline, the biggest in five years. The Labor Department also said employers cut far […]

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    Readers of this blog know that I have been pointing out for a long time that the majority of Americans have been in recession for a long time–it was partly masked by the housing bubble, which allowed a lot of people to pull out a whole bunch of cash from almost under the mattress […]

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    This morning, Sen. Obama is scheduled to give a major address on the economy. Yours truly is scheduled to appear on CNBC’s "Power Lunch" (hey, I didn’t come up with the name) at 1:20 p.m. (Eastern Time). I may not have a chance to post the entire speech here before the CNBC gig but […]

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    Yesterday, I observed the bizarre proposal by Sen. Clinton to hand over fixing the economic mess we’re in to the very people who helped create the mess (well, actually, for most workers we’ve been in an economic mess for a very long time–but you’all know that). I wasn’t trying to pick on Sen. Clinton […]

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I have been waiting to hear what the presidential candidates have to say about how to address the financial crisis gripping the country, and the international markets. Very little of substance has been said, beyond vague pronouncements—until yesterday. Sen. Hillary Clinton released a plan, which, in my humble opinion, underscores why another Clinton Administration would […]

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    This just out via the Associated Press: The number of newly laid off workers filing for unemployment benefits rose last week to the highest level in nearly two months, providing more evidence that the weak economy is having an adverse impact on the labor market. The Labor Department said Thursday that applications for jobless […]

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