Economy

A Grand Bargain or a Grand Uprising?

Right now in America, the Federal Reserve is buying up $40 billion a month in worthless mortgage-backed securities during what is known as QE3. In layman's terms, this means that a private banking cartel that owns our currency, unaccountable to any government agency, is forking over $40 billion a month to the same Wall Street bankers that wrecked our economy with risky bets on imaginary financial instruments.
origin Author: 
origin Blog: 

Fox Host Calls Ben Stein a Communist

Fox Host Greg Gutfeld calls Ben Stein a Communist for contending the rich must pay more to help resolve the nation’s debt.
origin Author: 
origin Blog: 

Robert Reich – Invest in America

Fifty years ago America invested in public education, infrastructure and research. If America wants to remain competitive, it must continue making investments in public works.
origin Author: 
origin Blog: 

Occupy Wants To Abolish Your Debt (with David Graeber)

Professor David Grabaer explained why our understanding of debt is flawed, why we keep telling ourselves a false narrative of debt, student loans and Occupy, how the debt crises and the ecological crises are the same thing, how the Rolling Jubilee will work and what is financial disobedience?
origin Author: 
origin Blog: 

The Elite Set to Abandon the Unemployed

While you hear all this talk about the fiscal cliff and cuts to government programs and tax cuts...but what about the long term extended unemployment insurance.
origin Author: 
origin Blog: 

How the Establishment Wants to Destroy Social Security

Sam takes a look at the Ezra Klein piece "There's Nothing Courageous About Raising the Social Security Retirement Age" and how the establishment wants to destroy social security.
origin Author: 
origin Blog: 

Businessman Schtick, Governor Romney and Mr. Spence

Kevin Horrigan in his Sunday column in the St. Louis Post-Dispatch brought up a study (pdf) by a couple of academics that question the practice of "peer benchmarking" CEO salaries in order to keep them from moving on to more lucrative jobs. The idea is that companies have to pay more in order to keep talented CEOs in place. The two researchers, Ch...
origin Author: 
origin Blog: 

Wells Fargo Foreclosing on Breast Cancer Victims During Breast Cancer Awareness Month

Last week, Ana Casas Wilson — a wheelchair-bound woman with celebral palsy and terminal stage-four breast cancer, and who has struggled for months to get Wells Fargo and US Bank to accept her money and stop foreclosing on her home of forty years — received a final 5-day notice to vacate from LA County Sheriff Lee Baca’s office. Wilson and her family briefly fell behind on her payments after she had to go into the hospital for a double mastectomy, as I described in an earlier post. She and her friends and supporters have launched a round-the-clock vigil at her home in a blue-collar suburb outside Los Angeles (8968 San Juan Ave., South Gate, CA 90280) to resist eviction, as the Los Angeles Times reported last week.
origin Author: 
origin Blog: 

The Return of Junk Bonds

Junk bonds, also called high-yield bonds, tend to offer higher yields when they pay off but carry significantly higher risk of default. The problem is not the bonds themselves, but the way they tend to be used -- to financed forced takeovers that strip value from the company taken over, to fund the collateralized-debt obligations at the center of the 2008 crash and, as they are being used now, to pay off investors without thought to what they will do to the long-term health of the company.
origin Author: 
origin Blog: 

Trans-Pacific Partnership More Likely to Create 'Disaster Scenario' Than Positive Economic Impact

Lost in this election’s never-ending barrage of meme unworthy misquotes and rehashed social issue talking points is the Trans-Pacific Partnership (TPP), a free trade agreement that looks to shape the future of business in burgeoning Asian markets. It has been mentioned exactly zero times by the Presidential candidates as far as we can tell, but if/when it is secretly approved it will become the most significant foreign and domestic policy initiative to come out of the Obama administration.
origin Author: 
origin Blog: 

Pages