economic news and information
Cannonfire has an excellent post on eating on food stamps. I agree with him, it was nice that Gwennyth Paltrow at least tried to imagine what it would be like to live on food stamps. It is nice to see rich people with an agenda that goes beyond more tax breaks for me, so kudos to Paltrow for at least trying. However, I disagree with his solution. Read more about Rice and beans
An email today from the Green Shadow Cabinet contains a link to Fast Track Is Not A Done Deal, The People Will Stop It
The byline says, "There is bi-partisan opposition in Congress to Fast Track and a large movement of movements mobilized to stop it."
When you read the article, however, you find:
roughly 30 House Republicans are already on record opposing the trade legislation.
President Obama's remarks to the Business Roundtable on Trade raise alarm bells for us all, and suggest that he is still pushing his pro- 1% agenda for all it is worth. Perhaps it would be better if Congress just treated him as a lame duck from here on in. Here are a number of statements from his talk and answers to questions, and my comments on them. Read more about A Credibility Problem?
Let's get this out of the way. I agree with Piketty's overall conclusion in Capital about inequality, that: the distribution of wealth in many industrial nations is highly unequal, wealth concentration has been increasing; and there is a high likelihood that the extent of wealth inequality will continue to grow unless appropriate fiscal policy is used to reverse current trends. However, I don't agree with:
-- the framework he uses to define and specify “capital”;
-- the way he looks at Government finance and net worth; and
-- the fiscal policy proposals he offers to reduce Inequality and put a stop to current trends of growth in the capital to income ratio. Read more about Piketty's Neoliberal Capital
This pilot project and the radio/video shows it will produce and place on the web is for everyone tired of hearing economic commentary from those who got everything wrong. For decades, the doctrine of "Fiscal Responsibility" interpreted as long-term deficit reduction and Government austerity has had a secure place in American politics. This doctrine is the economic equivalent of the medieval notion that patients must be bled to cure them of disease. And this truth is reflected in the economic history of the United States at least since 1976, when we first began to practice ideology-based austerity in its modern form by planning for deficit reduction and balanced budgets in order to decrease the debt-to-GDP ratio.
Yes, there were short periods of expansive GDP growth during the Reagan and Clinton Administrations, but when one compares job creation and growth rates across the decades, one can see from Table One, that new job creation and GDP growth during the 70s, 80s, 90s, and the first 10 years of this century don't compare to the 40s, 50s, and 60s of the 20th century. By comparison we've been experiencing a stagnant economy in varying degrees for more than 40 years now. Read more about The Real Fiscal Responsibility Today Pilot Project
What follows are five fact-filled and revelatory perspectives I have distilled from Professor John McMurtry’s compelling “‘Global Society Destruction’ and The Ukraine Crisis: Decoding its Deep Structural Meaning”. McMurtry cuts through the mainstream media anti-Russian and anti-Ukraine resistance propaganda to expose what he considers a US-led money/military cancer system attacking ALL of global civilization.
1) McMurtry writes: Read more about Can You Handle Truth re US-Led Collapse of World Security?
I’m generally not one to brag or tell others “I told you so” but after reading more and more articles by other bloggers, writers, pundits and commentators over the past 5 years, I should claim to be some sort of clairvoyant.
More and more people have felt over the past 10 years that the U.S. was not just becoming more oligarchical, but was already an outright Oligarchy. My pessimistic view of the nation was finally vindicated.
“Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens” was a report released this year that used extensive policy data collected between 1981 and 2002 to determine the oligarchic state of the US political system. The study stated “…the preferences of the average American appear to have only a minuscule, near-zero, statistically non-significant impact upon public policy.” Read more about VICTORY LAP – I TOLD YOU SO
It would appear Obama has finally done it; his economic sanctions against Russia has apparently been the catalyst for China and Russia to start selling gas and oil with regional currencies being used, not dollars.
Given that Saddam Hussein and Muammar Gaddafi were both attempting the same scenario, it would also seem that Putin's maneuver could spark armed conflict.
This is by far the most dangerous time, IMO, in the last 2 decades.
I'm worried Obama won't blink and I'm pretty sure Putin won't. Read more about Russia prepares to attack the petro-dollar