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Economic Apocalypse

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letsgetitdone's picture

Piketty's Neoliberal Capital

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 below the fold...

letsgetitdone's picture

The Real Fiscal Responsibility Today Pilot Project

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 below the fold...

DCblogger's picture

Why Obama is unpopular

Can You Handle Truth re US-Led Collapse of World Security?

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 below the fold...

DCblogger's picture

Cynical Ghandi

First they ignore you.
Then they ridicule you.
Then they fight you.
Then they buy you.

Pachigordo99's picture

VICTORY LAP – I TOLD YOU SO

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 below the fold...

DCblogger's picture

Tweet of the Day

V. Arnold's picture

Russia prepares to attack the petro-dollar

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 below the fold...

DCblogger's picture

IMF sponsored class war

DCblogger's picture

Why does Alan Krueger have a job?

letsgetitdone's picture

Still Not Over: CPC Update

The Congressional Progressive Caucus (CPC) recently issued its “Better Off Budget” document as an alternative to the White House/OMB document, and the coming House budget document, a Republican/conservative alternative. The “Better Off Budget” has received enthusiastic evaluations from writers affiliated with the DC progressive community. Richard Eskow's recent treatment is typical and provides other reviews that are laudatory. These “progressives” clearly see the CPC budget as anything but an austerity budget. But is it, or is it not? Read below the fold...

DCblogger's picture

Douglas S. Culkin leadership FAIL

Doug Culkin, is President and CEO of the National Apartment Association. Read below the fold...

letsgetitdone's picture

The TPP: A Dangerous Proposal Whose Time Has Gone

A recent, very good post at Naked Capitalism by Clive, suggests:

. . . Dear readers, you may think that writing to your elected representative, commenting negatively on articles you read in the mainstream media about the TPP and generally kicking up a bit of a fuss, making some noise, is a waste of effort. That is not so. The world does watch what goes on in the US. If popular sentiment is against something, the US government has a much harder job of convincing foreigners that it’s just them being awkward and reactionary and not getting the big, progressive, reform-minded, modernising picture.

I agree that this is a good proposal for one way the American public could register its objections to the Trans-Pacific Partnership (TPP) with foreign leaders. But, I think that such letters ought also to point out that even if the TPP were railroaded successfully in the next few months, then it is unlikely to stick. After all, it is only a Treaty. Wouldn’t an electoral victory here by a movement dedicated to overturning corporate control of the political system, result in withdrawal from the TPP before any concrete legislation likely to conflict with it was passed by Congress? Read below the fold...

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