Working Life

Well, duh…

It’s good to see this demand by both Elizabeth Warren and Joe Manchin. But, there’s an important point missing.

Read the full story

Among the many reasons the country would be better off if Bernie Sanders was president is that the man just refuses to deal in silliness. He wants the country to have a serious debate — and whether the next head of the Federal Reserve Board is a man or a woman, or the current president is more “comfortable” with one person or another running the Fed, is entirely irrelevant to Sanders. And so Sanders goes really wild — he invokes the two words that most people will not speak in this debate even though those two words are part of the Federal Reserve Board’s mission: FULL EMPLOYMENT.

Read the full story

   This past Friday, I wrote that the financial powers were winning the debate on Capitol Hill. Today, another victory for those powers: The Senate on Tuesday voted unanimously to require a one-time audit of the Federal Reserve’s emergency actions during and after the 2008 financial crisis as part of broad legislation overhauling the nation’s […]

Read the full story

People are missing the point about the reappointment of Ben Bernanke to head the Federal Reserve Board. Appoint him or not, choose a Republican or a Democrat or not–until we decide to change the way we see the role of the Federal Reserve Board, and how the economy is structured, the power over our lives […]

Read the full story

   One of the enduring myths of Washington insider language is the need for the Federal Reserve Board to be "independent". This is utter nonsense and is, to a great extent, the reason our economy has collapsed–not just over the past year but over the past 30 years as it has failed to translate the […]

Read the full story

   As I said yesterday, the crazy-assed rise in the stock market on Monday was all about one-time profit-taking. And today look for things to begin to come down to earth because, as The Wall Street Journal reports just now on its website: U.S. retail sales took the sharpest drop in three years during September […]

Read the full story

   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 […]

Read the full story