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Tag Archives: Economy

Wage Stag Nation

Another ironic situation is shaping up. In the Daily Beast, Michael Tomasky points out that Republicans have started talking about stagnant wages as a way to attack Obama. For example, John Boehner, upon being reelected (barely) as Speaker of the House, spoke on the House floor: In recent months our economy has showed signs of […]

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First Orders of Business

So what did the new Republican-controlled Congress decide was their first order of business this week? On their very first day, they decided that the most important thing to do was attack Social Security. But they did it in a sneaky and underhanded way. The House passed a new rule that, as the LA Times […]

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Future Perfect?

© Lee Judge I’ve made my fair share of bad predictions, but at least I try to admit it when I’m wrong. But some people seem to make a career out of being constantly wrong. Take Grover Norquist (please!), who has announced (without irony) that he “would like Republicans to shut up about how bad […]

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Awesome!

America is Awesome! The U.S. economy grew at a rollicking 5 percent rate in the third quarter. Oh, and it added 320,000 jobs in November, the best of its unprecedented 57 straight months of private-sector employment growth. Just in time for Christmas, the Dow just hit an all-time high and the uninsured rate is approaching […]

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Lock, Stock Market, and Barrel

I hope everyone reading this blog also keeps up with Matt Taibbi, one of my heroes. Taibbi just published another article in Rolling Stone, pointing out once again (and with lots of facts) how our government is so completely owned by the banking industry. The article tells the ongoing story of a former manager at […]

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You Didn’t Hear That

I hoped that there would be a huge public outcry about what happened to Carmen Segarra, but so far it has been all but ignored by the mainstream media. Have you ever wondered how all our banks and financial institutions started failing, forcing us to bail them out, and nobody saw it coming? If yes, […]

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Human Assets!

Republicans oppose raising the minimum wage because they claim that it will cost jobs. Despite the fact that there is plenty of evidence of the opposite. After all, if working-class people earn more money, they spend it. If rich people make more money, they send it to offshore tax havens! But here’s something interesting. An […]

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Greed and Entitlement

Maurice Greenberg, the former CEO (and major shareholder) of AIG, the insurance giant that was on the brink of bankruptcy before being bailed out by the government in 2008, is suing the government, demanding billions of dollars in compensation. Why? Greenberg claims that “the government ripped him and other stockholders off by failing to negotiate […]

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Trickle down Charity?

The Chronicle of Philanthropy has put another nail in the coffin of trickle down economics. Using IRS data from 2006 to 2012, they found that as the US economy has come out of recession, while most of the new income has gone to the richest Americans, those people who earn $200,000 or more have actually […]

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The Pitchforks are Coming!

Like Nick Hanauer, I am an unrepentant capitalist. But capitalism only works if, as he says, it is well managed. And right now, we are doing a worse than terrible job of managing our capitalists and plutocrats. Income inequality is rising at insane rates. The end result, history has shown us again and again, is […]

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Business is Booming

© Ted Rall Despite the economic recovery, 35% of Americans have debts and unpaid bills that have been reported to collections agencies. That’s because most of the recovery has been funneled to the richest. But at least there is one business that is booming.

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By the Numbers

© WHUR What do Republicans have to say about this? Benghazi!

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No Longer Number One

America just passed another milestone. Or maybe it would be more accurate to say that a milestone passed us. For many years, the US has been known for having the more affluent middle class in the world. Indeed, we’ve used this fact to make fun of other countries, mocking them for their high taxes, or […]

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Welfare Reform

Nicholas Kristof has a must-read editorial in the NY Times. Kristof looks at the conservative mantra that government assistance reduces initiative, causes dependence, and increases the deficit — and agrees! He helpfully suggests five public welfare programs are wasteful and have turned us into a nation of “takers”. They should be eliminated as quickly as […]

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A rising tide lifts all boats

The whole theory of “trickle-down economics” was roughly based on the adage that a “rising tide raises all boats”. In other words, if you let the rich make lots of money, that money will trickle down to everyone else. But according to an amazing new study done by none other than the International Monetary Fund, […]

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