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What Progressives Can Learn from the Cubs Winning the World Series

Cross-posted from Real Economics. I hope Correntians find this a good diversion from this sad spectacle of an election. Read more about What Progressives Can Learn from the Cubs Winning the World Series

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Bill Neal on Neoliberalism: Karl Polanyi and the Coming U.S. Election

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I first noticed Bill Neal's writing many, many years ago. He always has some startling insights or turns of phrases that make his articles a welcome respite from the torrent of half-baked hash that now passes for news reporting and commentary. Neal's article is especially important now, because since Hillary Clinton has clinched the Democratic nomination, there has been what appears to me to be a concerted effort to drown out any discussion of neo-liberalism. Neal is especially good at identifying and highlighting the social and cultural implications of neo-liberalism.
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HAWB 1870s - American producer class hero Peter Cooper - How America Was Built

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I suppose some words of introduction are in order. Around the end of 2014, I conceived the idea of compiling a chronological history of how the USA economy had actually been built, highlighting the role of government in nurturing and promoting science and technology in industry, agriculture, and transportation. This would, of course, directly repudiate the right-wing myths of heroic entrepreneurs as "wealth creators" in a "free market" liberated from the deadening hand of government. Read more about HAWB 1870s - American producer class hero Peter Cooper - How America Was Built

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China proposes $50 trillion global renewable energy plan

State Grid Corporation of China, which run’s China's electric power grid, has announced it has signed memorandums of understanding with Russian energy grid compnay Rosseti, Electric Power Co. of South Korea, and SoftBank Group of Japan, to begin moving forward with State Grid’s proposed $50 trillion global electricity network based entirely on renewable energy sources. Read more about China proposes $50 trillion global renewable energy plan

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WalMart execs panicking over lousy sales

Cross-posted from Real Economics.

WalMart executives are freaking out over lousy sales, according to this article in Business Insider. After a disastrous January, one WalMart exec wrote in an email that February sales so far are a "total disaster," according to a Bloomberg news story.

“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, WalMart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.”

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Beyond whether Obama wins or loses

Cross-posted from Real Economics.

A week ago, Matt Stoller provoked a lot of discussion with his The Progressive Case Against Obama, a masterful accounting of this administration’s dismal policy record “on the grounds of economic and social equity.” Income and wealth inequalities, Stoller points out, have not just continued under Obama, but have actually become some fifty percent worse than during the Bush regime. Read more about Beyond whether Obama wins or loses

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Some of the noteworthy econ-finance news of late

Every week there are a number of articles and blogs I would like to comment on, but never do. Here are a few of the most noteworthy from the past two or three weeks.



A tip-o-the-hat to Jesse's Café Américain for posting Financial Fukushima: US Big Bank Derivative Bets Double in Six Years To $236 Trillion, based on a summary of the Sept 2012 report from the Bank for International Settlements, As Stirling Newberry commened about two years ago, all that the Obama administration has really accomplished is to get Wall Street willing to play with itself again.
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Mars rover Curiosity landed safely

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Cross-posted from Real Economics.

The Mars rover Curiosity landed safely on Mars early this morning. The rover weighs over one ton and is larger than a full-size American automobile (notice the two people standing at the left side of the photo, below). Congratulations are due to the people at NASA, JPL, and elsewhere who conceived, designed and executed this impressive mission. Read more about Mars rover Curiosity landed safely

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American Revolutionaries were "ashamed of success"

Cross posted from Real Economics.

In response to President Obama’s rather inept explanation that nobody can build a successful business outside the supportive legal and physical environment created and funded by all the rest of us citizens of the republic, Mitt Romney declared that, “I’m convinced [the President] wants Americans to be ashamed of success.” Read more about American Revolutionaries were "ashamed of success"

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Jimmie Dimon's JP Morgan Chase hits the wall

Kinda surprised Lambert's not the first here with the story. JP Morgan Chase called a special after-hours press conference to reveal a few billion bucks in losses on some derivatives trades going against them. The guys at Zero-Hedge seem intent on pushing into full panic mode, with their usual hyperbole, but - who knows? Read more about Jimmie Dimon's JP Morgan Chase hits the wall

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