Working Life

    Why some people are surprised that the economy continues to be weak speaks more to the bankruptcy of our elected leaders and the cluelessness of the press release transcribers (we used to call them "journalists"). People don’t have money–and that is a real issue when two-thirds of the economy depends on people buying stuff. […]

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   The assault against even the most modest attempt to take the boot off the neck of the American consumer continues. Wall Street leaders like Jamie Dimon whine about regulation. And the banks are hoping to keep their hands in the pockets of consumers–and they have willing hands in the U.S. Senate. The Senate just […]

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   There is a deep, deep disconnect between how the political leaders, chattering classes and traditional media view what is happening in the economy versus how the rest of the people feel the economy in their everyday lives. This has been true for quite a long time. But, it is even more true today, at […]

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Yesterday, I raised my concerns about the Senate’s proposal to hand more power to the Federal Reserve Board and give the Fed the role of protecting consumers. Honestly, I thought it was a cruel joke and a perfect example of the Washington insiders protecting the interests of Wall Street. Barney Frank agrees.   Here is […]

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   I do not like to be negative. I’m actually quite the optimist, generally speaking. So, I admit to feeling uneasy that I’ve been presistently, regularly disbelieving about the talk of "economic recovery". I think that such talk ignores the actual FACTS and is largely driven by political imperatives–meaning, politicians who want to be re-elected […]

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   It is an article of faith that American consumers are way over leveraged, particularly when it comes to credit card debt. But, a pretty scary article in the Financial Times the other day makes it clear that this is a worldwide phenomena that is likely to prolong the economic crisis we are in. I […]

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   I’m going to assume that most of you are still in one state or another of digesting the massive amounts of food you inhaled yesterday. Speaking of digesting, it looks The Treasury can’t swallow the $700 billion bankers’ bailout, or so The Wall Street Journal says this morning: The current Treasury has so far […]

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