Economics under the Democratic/Republican Uniparty

Updated 2024

Though economics is a dry subject, there is a very real human cost to getting economic policy wrong. Sondra Miller points this out in The Price of Economic Ignorance.

Scott Galloway offers an excellent overview in his book Adrift: America in 100 Charts. Telling the story of our nation through 100 charts, Galloway offers a unique take on where we’re headed and who we’ll become.

One of the greatest economic failures in history was a gamble not justified by any economics text. The references here show that - though they claim to be different - both parties in the United States have been following the same disastrous policies.

The gamble was that it would somehow improve the U.S. economy to

-embrace NAFTA type agreements including the disastrous and worst of the NAFTA like agreements: the Trans Pacific Partnership.
-lower taxes for the rich and corporations to an unprecedented level and
-rid ourselves of the regulations established in the 1930s to prevent another great depression

It did not work. Indeed, it was a massive failure that resulted in the greatest world wide collapse since the great depression. The spending spree - which did not count the wars - combined with the severe cut in revenue resulted in a government which had less money to build infrastructure, maintain a safety net, and take other actions to stimulate the economy so it would be robust enough to support a living wage. Part of the problem is corruption. Part of the problem is basic economic theory is wrong. See below "Theory is Bad" in this article. Another problem is that government figures are wildly misleading.

The reason I have so many references is to show this is a steadily increasing trend I continuously update. It is not a vanishing blip on the radar. Failure to deal with this trend will have disastrous consequences for the future. Documentation is with both an extensive and expanding list of references below and the article Economic Graphs and Videos.

Help make your progressive case by using this documentation which is continuously updated. https://www.newprogs.org/make_your_case

1-Banks

Mar09.2017LeadCartoon.gif

Rather than be a force for stability and growth, banks have become a huge drain on the economy to enrich people and corporations. Clinton's repeal of Glass-Steagall in 1999 was a huge blow to bank accountability. Democratic propaganda notwithstanding, nothing is in place that remotely resembles Glass-Steagall in protecting the public from banks. Iceland and other countries have proved that holding banks and other large financial institutions accountable leads to greater prosperity, not less. "Too big to fail" and "Too big to prosecute" are recipes for disaster. Public banks offer a real alternative. See Public Banking Institute and references 9, 15, 17, 31, 78, 104, 108,112, 126, 185, 263, 323, 380, 411, 446, 468, 528, 565, 566, 570, 620, 809, 835, 836, 839-841, 884, 893, 895, 896, 898, 903-906, 960, 972, 973, 975, 977-979, 981, 983, 1028, 1030, 1032, 1054, 1056, 1058, 1059, 1062-1064, 1069, 1071, 1141, 1142, 1144-1146, 1149, 1151-1153, 1156, 1157, 1161, 1163-1166, 1168, 1169, 1171, 1314, 1327-1330, 1374-1376, 1378, 1380, 1421, 1444, 1446, 1481, 1506, 1508-1514, 1544-1546, 1548, 1551, 1552, 1554, 1555, 1557.

2-Democrats are not the answer.

Both major parties follow the same policies. (The Republicans certainly are not the answer either. See Beware the Trump Administration) The Democrats have better rhetoric, but their actions are largely the same as their republican colleagues.

Nobody’s feet are going to be held to the fire is an excellent article which takes a hard deep look at basic economic assumptions, war, and the Democratic Party by Jeff Roby, a Florida activist.

Specifically,

-Caving in on tax breaks for the rich set to automatically expire. The Bush tax cuts for the rich cost us 800 billion dollars over ten years. Defeating the Buffet tax for millionaires cost us 50 billion dollars over 10 years. Obama and the democrats are completely responsible for both. They actively saved the Bush tax cuts which would have automatically expired and did not even try for the Buffet Tax which was defeated by the democratic senate. See reference 66. Obama and the democrats had almost a 40 vote lead in the HOR and 59 senators. Their abdication guaranteed the republicans victory in 2012. It was a neat trick to simultaneously help bankrupt social security, give the rich and corporations tax advantages they did not have through most of the 20th century, and cut our income for infrastructure which guarantees further economic decline.

-In appointing his social security “cat food” commission he did not even use reputable conservative groups such as the Citizens Against Government Waste and the Concord Coalition, but instead appointed radicals who said their purpose was to destroy social security. President Obama's Commission on Fiscal Responsibility and Reform ("Catfood Commission") proposed slashing Social Security by using the Chained-CPI as an index (effectively reducing benefits) and raising the age for SS eligibility (which for many low-income people means "work till you die"). He then made it a self-fulfilling prophesy by temporarily eliminating social security taxes. Social Security would be viable forever if rich people had to pay the same rate as poor and middle class people. Instead, there are no social security taxes after 110,000 dollars a year.

-The HAMP could be used to help home owners, but Obama decided not to use it fully.

-Clinton enabled NAFTA, the 1996 Telecommunications Act, Welfare Reform and the repeal of Glass-Steagall.

-About 45% of the stimulus was tax cuts. If there is one thing we know for sure economically from our 2000-2010 experience, it is tax cuts for the rich do not help the economy.

-Continues to be unresponsive as worker’s share of national income reaches a record low.

-Look who President Obama appointed as his economic advisers. Summers was responsible for dismantling the Glass-Steagall regulations that had acted as a firebreak against banks looting the country since the Great Depression. Geithner had performed no financial over site in the Bush administration (He said he never saw anything wrong) and was a major architect under Bush of the financial bailout that passed trillions of dollars to his former banking partners. Bernanke as Bush's Chairman of the Council of Economic Advisers could have slowed the asset bubble while it was still possible, but did not. (8) The above advisers had the government buy trillions of dollars of toxic sludge with taxpayer money, then loaned banks money at zero percent interest so they can loan it back to the government at three percent and to payday borrowers at hundreds of percent.

-Obama’s “health care reform” requires 32 million Americans to buy insurance with no cost controls. Insurance stock prices doubled as soon as the reform bill was enacted.

When you add the cost of expanding militarism then you will see we are in a bad position to compete with other countries. See Continuous Wars. See also The Democratic Party is the More Effective of Two Evils.

By enthusiastically going along with republicans and adopting their disproved tax theories democrats have helped bankrupt the United States and decreased its ability to build an infrastructure and compete. See references 8, 57, 695, 709, 731, 732, 754, 755, 761, 789. 790, 791, 792, 793, 799, 808, 809, 812, 817, 842-845, 905, 906, 908-910, 912-914, 933, 961, 963, 964, 986, 989, 1026-1027, 1033, 1072-1074, 1076-1081, 1097, 1144, 1166, 1171, 1173-1178, 1180-1184, 1186, 1376, 1417, 1460.

3-Employment - Real Percentage, Increasing Temps, and Disappearing Retirement

The current figures for unemployment are deceptive. They measure neither:
-the people who have given up on looking because the jobs are simply not there
-nor the "under-employed" which consist of people who are work part time and want full time
-nor people at a job which does not take advantage of their training or capabilities.
Even so, the unemployment rate remains higher than it was in the depths of all but one of the postwar recessions. See references 3, 30, 163, 475, 540, 552, 606, 608, 676, 677, 679, 726, 727, 759-761, 815, 817-820, 846-847, 915, 991-993, 995, 1034-1035, 1085 - 1086, 1190-1193, 1424, 1480, 1515.

To make matters even worse, there has been a huge transition from jobs with benefits - such as retirement and health insurance - to part time jobs without benefits. See references 500, 501, 732, 748, 818, 819, 820, 863, 931, 1534.

Perhaps most worrisome is the destruction of retirement and pension systems for the benefit of the wealthy. Cities (Detroit) and companies (Delta Airlines) can escape retirement obligations and promises through bankruptcy which leaves workers destitute. Contrast that with students owing huge debts who cannot get jobs in their fields and cannot declare bankruptcy. Unlike government and corporations, they cannot obtain help through bankruptcy. Matt Taibbi in reference 495 pointed out the following.

"The supposed impending collapse of Social Security, which actually should be running a surplus of trillions of dollars, is now repeated as a simple truth. But Social Security wouldn't be "collapsing" at all had not three decades of presidents continually burgled the cash in the Social Security trust fund to pay for tax cuts, wars and God knows what else. Same with the alleged insolvencies of state pension programs. The money may not be there, but that's not because the program is unsustainable: It's because bankers and politicians stole the money."

See references 57, 104, 285, 460, 493 - 498, 534, 547, 572-575, 577, 578, 580-583, 585, 640, 644, 646-648, 652, 654, 714, 716-718, 720 748, 784, 785, 792, 797, 799, 803, 804, 805, 824, 826, 872-877, 879, 882, 971, 1021, 1044-1047, 1113, 1114, 1116, 1118, 1230, 1232, 1234, 1452, 1495, 1530-1532.

4-Inequality

We are now faced with a growing inequality and less protection than we had in 1999 when we repealed Glass-Stiegal. (thanks to both democrats and republicans) The growing inequality is reaching alarming level and will have serious consequences. See Economic Graphs and Videos and the below references on this article: 629, 630, 632, 664, 701, 702, 704, 706, 708, 731, 734, 762, 764-767, 769, 770, 774, 776, 778, 779, 815, 822, 842, 848-851, 853-855, 857-860, 898, 918, 921, 924, 967, 969, 970, 970, 997-1002, 1004-1008, 1010, 1012-1015, 1039, 1040, 1079, 1090-1098, 1100-1102, 1104, 1106, 1195-1198, 1200-1203, 1206-1216, 1218, 1220 1264, 1265, 1289, 1291, 1301, 1308, 1311, 1315, 1320, 1325, 1339, 1349, 1350, 1352, 1354-1357, 1359-1361, 1363-1368, 1411, 1418, 1426, 1428-1432, 1449-1451, 1455, 1462-1465, 1473, 1476, 1482, 1483, 1485, 1487-1490, 1492-1494, 1505, 1519-1521, 1523-1525, 1527, 1528, 1542, 1547, 1549, 1550, 1558, 1561, 1562, 1563, 1564.

5-Social Security and Medicare

One serious threat to our economic security is the threat to social security and medicare. Despite contrary rhetoric from the Democratic Party, the most threatening danger is from the democrats. This danger consists of the Bowles Simpson Commission - which included false economic choices and recommended raising of the retirement age - and the Chained CPI plan. There is no need for any of this to "save" social security. Taxing the rich fully for social security at the same rate as the poor and limiting social security funds to use just for those intended would fully fund social security for the future. Medicare for all would be cheaper, get better results, and cover more people. See Health Care and references 57, 182, 196, 231, 244, 301, 305, 377, 534, 547, 637, 654, 658, 721, 957, 1119, 1178, 1235.

6-Taxes, Privatization vs. Commons, and Infrastructure

It is a simple matter of taxing enough to run the government as we did throughout the 20th century, spurring the economy with infrastructure and research making a living wage possible, and taking care of our citizens. Taxes are the price we pay for civilization. We did this throughout the 20th century. China, Rome, and Greece did it centuries before the birth of Christ. It was only in 2001 that we decided to go down a different path by drastically lowering government revenue.

Infrastructure (such as the internet, transportation and education) is a necessary prerequisite for a healthy economy. Giving up the "commons" or public property is not something that is easily regained. One result of inadequate revenue through giving undeserved and unprecedented tax breaks for the rich and corporations is a deteriorating infrastructure. Privatization of public tasks has repeatedly proved to be unreliable and more expensive. Corporations typically strip all the profit out of public property without spending to maintain it. The cost of privatizing and abandoning an already deteriorating infrastructure and selling the commons will be great. It will take decades to repair. See Our Crumbling Infrastructure, Education, and references 118, 205, 480, 481, 483-489, 491, 519, 561, 562, 710-712, 722, 737-740, 742, 743,745, 747, 749, 823, 842, 846, 861-862, 864, 866-869, 925, 927, 928, 1018-1020, 1042, 1043, 1048, 1110-1112, 1120-1122, 1187-1189, 1223-1226, 1228, 1229, 1282, 1369, 1370, 1441.

7-Theory is Bad. Wrong economic theory starts it all.

Economic theory has a reputation for being deadly boring. It is one of the most dreaded courses in college. One unfortunate consequence is we take economic assumptions as truths despite contrary evidence. This unfortunate tendency is reinforced by MBAs who are trained on inaccurate theories, assumptions, and economic measuring tools. Redefining what a recession is, pretending interest rates do not affect the consumer, and inaccurately measuring inflation do not make for a good economy. See All In Podcast. We are taking biased information based upon misleading government measurements then acting on wrong theories which is leading to an ever worsening economy. The only place I know where they are taking a new evidence based look at economic theory is Evonomics/ The Next Evolution of Economics. That is also the source of many of our references and where we got the illustration at the top of this article. For a humorous new look at economics see Dr. Yoram Bauman. For more on economic theory see below references 1129-1139, 1161, 1163, 1164, 1189, 1212-1216, 1236-1266, 1268-1274, 1276-1313, 1330, 1331, 1333-1347, 1352, 1381-1393, 1395-1407, 1410, 1411, 1416, 1434-1440, 1442, 1448, 1454-1459, 1467, 1468-1472, 1474, 1475, 1477-1479, 1496-1503, 1506, 1535-1541. 1553, 1556, 1559, 1560.

8-Trade Agreements Both Formal and Secret

Since shortly after the 2010 elections, Obama took it as his first priority to leave the country and agree to NAFTA-type like agreements with India and South Korea. He has since publicly backed NAFTA agreements for South Korea, Columbia, and Panama. His "Jobs Bill" not only eliminates legal protection for unemployed students with giant student loans to pay back, it has as its price the acceptance of three NAFTA agreements. Congress rejected his "Jobs Bill" while still approving the NAFTA agreements. There is also an effort to approve a US-EU trade deal. Is it not pretty obvious by now that these type of agreements with countries that have no protections for their workers or the environment are disastrous for the United States? We are done in economically - once again - by democrats following lockstep in with republicans. While it is good that Trump stopped the secretive Trans Pacific Partnership, that still leaves the unspoken but real agreements that drain wealth from the poor and middle class. Off shore storing of wealth is only one aspect of this unfair system designed to further enrich the 1%. See Corporate Overreach. See also references 27, 162, 180, 265, 280, 354, 389, 398, 400, 452, 453, 464, 541 - 544, 594-597, 600, 602, 603, 672, 674, 751, 752, 787, 812, 830, 831, 845, 886, 887, 889-892, 911-914, 932, 933, 935, 937-942, 944, 946, 948, 952-957, 1022-1024, 1048, 1051, 1052, 1074, 1125, 1126, 1128, 1183, 1184, 1317-1322, 1466, 1504.

Conclusion

Unfortunately, Obama and the Democrats first and then Trump and the Republicans and now Biden have decided to pursue and extend Bush policies. NAFTA type agreements such as the TPP, a flat minimum wage, a failing infrastructure, continued lack of investment in education and research compared to the 1950s, following the Bowles-Simpson and Chained CPI recommendations, and continued pretending by both parties that the recession is over and the only problem facing our country is the deficit can only insure our continuing downward spiral. Nothing will change unless we stop relying on the two traditional parties for fundamental change. It is time to accept the fact that both Democrats and Republicans are together changing our country into a backward superstitious third world country.

For more documentation see the many references below and Economic Graphs and Videos.

The “Lessons” that Wall Street, Treasury, and the White House Need You to Believe About the Lehman Collapse

By Robert E. Prasch, Department of Economics, Middlebury College

The “Lessons” that Wall Street, Treasury, and the White House Need You to Believe About the Lehman Collapse

By Robert E. Prasch, Department of Economics, Middlebury College.

The “Lessons” that Wall Street, Treasury, and the White House Need You to Believe About the Lehman Collapse

By Robert E. Prasch, Department of Economics, Middlebury College.

The “Lessons” that Wall Street, Treasury, and the White House Need You to Believe About the Lehman Collapse

By Robert E. Prasch, Department of Economics, Middlebury College.

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Obama Cuts Medicare, Social Security for More Taxes - See more at: http://www.thefiscaltimes.com/Articles/2013/04/05/Obama-Cuts-Medicare-Social-Security-for-More-Taxes#sthash.JP6tK9Ed.dpuf

534-Obama Cuts Medicare, Social Security for More Taxes

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536-Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

537-The Creature From Jekyll Island (by G. Edward Griffin) (YouTube)

538-The Financial Crisis and the Second Great Depression Myth

539-The Origin Of 'The World's Dumbest Idea': Milton Friedman

540-21^st Century Full Employment Act for Peace and Prosperity

541-Meet the TPP: A Worldwide Corporate Power Grab of Enormous Proportions

542-President Obama Asks Congress To Give Up Its Oversight On Secret TPP Agreement

543-Secret "Free Trade" Negotiations Will Gut Regulations, Further Enrich Multinationals and Big Financial Firms

544-The Trans-Pacific Partnership

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546-US Government Threatens California City Trying to Save Homeowners From Foreclosure

547-Destroying Social America: Bipartisan Attack on Vital Social Safety Nets

548-Using Eminent Domain to Rescue Main Street

549-Full Show: Inequality for All

550-551 deleted

552-We need real "Full Employment" legislation to hold the politicians accountable.

553-Wealthiest Americans Take Home Biggest Share of Income Ever Recorded

554-deleted

555-"Makes Absolutely No Sense": David Cay Johnston on Budget Deal That Helps Billionaires, Not the Poor

556-deleted

557-3rd Quarter Corporate Profits Reach Record High-Worker Pay Hits Record Low:So How Exactly Is Obama The 'Anti-Business' President?

558-SEC’s Non-Decision Decision on Corporate Political Activity a Policy and Political Mistake

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560-House votes for bipartisan change to Dodd-Frank on bank swaps

561-How the Super-Rich Are Abandoning America, Leaving the Ship of State to Sink

562-The Superrich Don't Need Our Middle Class Infrastructure

563-Direct Rule by Wall Street Begins with Detroit

564-Meet Your Taxpayer-Subsidized Farm Bill Billionaires!

565-More Welfare for Wall Street: One in Three Bank Tellers Need Public Assistance

566-Obama Continues To Surround Himself With Wall Street Bankers

567-Obama’s Second-Term Slide Continues

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570-Icelanders Overthrow Government and Rewrite Constitution After Banking Fraud-No Word From US Media

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572-Chicago Tribune Uncovers Pension Scams of Ex-Mayor Daley and Friends

573-Dems Who Once Supported Gutting Investor Protections Bail on Wall Street

574-Detroit accused of exaggerating $18bn debts in push for bankruptcy

575-Detroit Bankruptcy Testimony: Retirees Get 16 cents, Wall Street Gets Billions, Assets Stolen

DETROIT BANKRUPTCY TESTIMONY: RETIREES GET 16 CENTS, WALL STREET GETS BILLIONS, ASSETS STOLEN - See more at: http://voiceofdetroit.net/2013/11/05/detroit-bankruptcy-testimony-retirees-get-16-cents-wall-street-gets-billions-assets-stolen/#sthash.Ts39AcqM.dpuf

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577-Don't demonize public pensions

578-KEY WITNESSES TURBEVILLE AND MCPHAIL TO DISPUTE $2.8 BILLION POC DEBT AND SWAPS IN DETROIT BANKRUPTCY

KEY WITNESSES TURBEVILLE

KEY WITNESSES TURBEVILLE AND MCPHAIL TO DISPUTE $2.8 BILLION POC DEBT AND SWAPS IN DETROIT BANKRUPTCY TRIAL - See more at: http://voiceofdetroit.net/2013/12/17/key-witnesses-turbeville-and-mcphail-to-dispute-2-8-billion-poc-debt-and-swaps-in-detroit-bankruptcy-trial/#sthash.9jkHovZ9.dpuf

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580-Ilargi: Still Feel Confident About Collecting Your Pension After This?

581-Let's get this straight: AIG execs got bailout bonuses, but pensioners get cuts - No one has accused city workers in Chicago or Detroit of bringing down the economy, but they could face pension cuts

582-Pay Retirees What They’ve Earned

583-Pension Theft: Class War Goes to the Next Stage

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585-Retired union workers facing 'unprecedented' pension cuts

586-587 deleted

588-The Facts Are in: Austerity Politics Doesn't Work

589-The Great American Class War: Plutocracy Versus Democracy

590-The $10 Trillion Heist - The Great Corporate Tax Shift

591-deleted

592-The Scholars Who Shill for Wall Street

593-The Simplest Explanation Of How To Get Out Of This Jobs Crisis I've Seen Yet

594-America Was Once a Superpower - Now It's Not

595-Bill Moyers on why the Trans-Pacific Partnership free trade agreement is death for democracy

596-Breaking ’08 Pledge, Leaked Trade Doc Shows Obama Wants to Help Corporations Avoid Regulations

597-The Top Secret Trade Deal You Need to Know About

598-599 deleted

600-WikiLeaks Release of Secret Trans-Pacific Partnership Agreement (TPP)

601-deleted

602-The Global Corporatocracy is Almost Fully Operational

603-This transatlantic trade deal is a full-frontal assault on democracy - Brussels has kept quiet about a treaty that would let rapacious companies subvert our laws, rights and national sovereignty

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606-Unemployment Drops Mostly Because People Stop Looking: The New Normal in the Age of Black Political Empowerment

607-deleted

608-Yes, Virginia, There is a Difference Between the Two Political Parties

609-“We are in great danger”: Ex-banker details how mega-banks destroyed America - "The power has only been more consolidated," warns Goldman Sachs veteran Nomi Prins in an interview with Salon

610-A Deeper Look at the Phony “Texas Miracle”

611-A year after being discredited, austerity economics still reigns - The world still hasn’t learned its lesson from the Reinhart-Rogoff debacle

612-After Crisis, Iceland Holds a Tight Grip on Its Banks

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615-House Efforts to Make “Tax Extenders” Permanent Are Ill-Advised

616-Liberals, you must reclaim Adam Smith

617-deleted

618-Deficit Is Falling Because Of Government Austerity, Not Economic Recovery

619-Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

620-The Financial Sector Is the Greatest Parasite in Human History

621-Four Reasons You Should Consider Washington's Deficit As Your Surplus

622-Saint Ayn Rand Visits the Day After Christmas!

623-624 deleted

625-How Entitlements for the Rich Cheat the Rest of Us

626-How Piketty’s Bombshell Book Blows Up Libertarian Fantasies

627-628 deleted

629-Capital in the Twenty-First Century: An Essential Inequality Reader

630-Dean Baker | Inequality: Government Is a Perp, Not a Bystander

631-deleted

632-Two-thirds unhappy with income distribution, Gallup poll finds

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635-Janet Yellen and I Were Taught to Revere Capitalism. But It’s a Failing System.

636-Matt Taibbi: 'Hands Down' Bush Was Tougher On Corporate America Than Obama (VIDEO)

637-How Obamacare Raids the Assets of Low-Income Older Americans

638-639 deleted

640-Dean Baker: Main Street’s Economic Pain Is a Result of a Policy Failure

641-643 deleted

644-Karen Lewis. The pension heist. Must read.

645-deleted

646-Looting the Pension Funds - All across America, Wall Street is grabbing money meant for public workers

647-Bankruptcy judge approves final revision of Detroit restructuring plan

648-Obama Administration Stays Quiet as Boeing Strikes Major Blow to Pensions

649-651 deleted

652-The Plot Against Pensions: PEW/Arnold Foundation, ALEC Support Banksters' Attack

THE PLOT AGAINST PENSIONS: PEW/ARNOLD FOUNDATION, ALEC SUPPORT BANKSTERS’ ATTACK - See more at: http://voiceofdetroit.net/2014/03/17/the-plot-against-pensions-pewarnold-foundation-alec-support-banksters-attack/#sthash.u5S9CWDN.dpuf

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654-The Wisconsin Lie Exposed - Taxpayers Actually Contribute Nothing To Public Employee Pensions

655-657 deleted

658-The SEC's Corporate Disclosure Rule Goes Missing - Chair Mary Jo White might be caving to political pressure.

659-660 deleted

661-White House: Let's Keep Chained CPI Cuts On The Table - Nope, Obama won't give up on his dream. He wants that chained CPI, and he's still hoping he can get it.

662-deleted

663-The “middle class” myth: Here’s why wages are really so low today - Want to understand the failures of the "free market" and the key to getting a decent wage? Here's the real story

664-What a good economy should look like

665-deleted

666-The Poisons of Extreme Wealth and Inequality

667-The Real Reason the U.S. Dollar Has Value

668-The Super Rich Are Richer Than We Thought, Hiding Huge Sums, New Reports Find

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670-These 9 Maps Should Absolutely Outrage Southerners

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672-This is no recovery, this is a bubble – and it will burst: Stock market bubbles of historic proportions are developing in the US and UK markets. With policymakers unwilling to introduce tough regulation, we're heading for trouble

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674-TPP Wikileaked: US Watering Down Enviro Protections in Secret Trade Deal

675-deleted

676-Obama Admin’s TPP Trade Officials Received Hefty Bonuses From Big Banks

677-Trade Expert: Why TPP — “NAFTA on Steroids” — Must Be Stopped

678-deleted

679-Congress Has Never Allowed Unemployment Insurance Extensions To Expire With Long-Term Unemployment So High

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682-The March Jobs Report: Nothing Moving

683-Using Existing Government Funding To Create a Public Bank in Philadelphia (YouTube)

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685-Wall Street’s 2013 Bonuses Were More Than All Workers Earned Making the Federal Minimum

686-Taxes For Revenue Are Obsolete

687-Why the Super-Rich Should Pay Super Taxes

688-US economic output tumbled by 2.9 percent in the first quarter

689-8 disturbing trends that reveal the South’s battered psyche - Statistics show Southern states have the lowest economic mobility in the country. These phenomena help explain why

690-A Simplified Way to Tax Multinational Corporations

691-Americans fared better after Great Depression than today - Six years after Great Recession, majority of Americans stagnating

692-As the Foreclosure Crisis Ebbs, Cleveland Picks Up the Pieces

693-deleted

694-BRICS Bank Challenges the Exorbitant Privilege of the US Dollar

695-Capitalism’s Deeper Problem

696-Community Wealth

697-Corporate welfare’s quiet enablers: How democrats pander to big business - Support on the left for Export-Import Bank shows GOP isn't the only party tailoring policy to business interests

698-Krugman Gets His History Wrong

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700-Detroit Shuts Off Water to Residents but Not to Businesses Who Owe Millions

701-Financial Reform Rising

702-Full Show: Too Big to Fail and Getting Bigger

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704-Global Super-Rich Stashing Up To $32 Trillion Offshore, Masking True Scale Of Inequality: Study

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706-More Than $6.5 Trillion Lost in US Income Due to Tax Cuts for the Rich

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708-Rich People Rule: Struggle Lies Ahead

709-Trickle-Down Economics Confronts an Insurmountable Challenge: Reality

710-Wall Street Analysts: High Inequality Makes Us Vulnerable to Crashes

711-Obama’s Friends in Low Places - Despite Jamie Dimon’s record as a leader in the radical deregulation of banking, Obama continues to cozy up to his Wall Street backer.

712-5 ways privatization is fleecing American taxpayers: Government outsourcing goes horribly wrong more often than not. Here are a few representative horror stories

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714-Privatizing Government Services Doesn’t Only Hurt Public Workers

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716-Detroit officials agree at DIA press conference: Workers must pay for bankruptcy

717-Illinois Democrats gut Chicago city worker pensions

718-Looting the Pension Funds - All across America, Wall Street is grabbing money meant for public workers

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720-This IT worker had to train an H-1B replacement - U.S. workers protested job losses to foreign workers by displaying American flags in their cubicles

721-Wall Street’s Pension Gamble

722-Whose Presidential Campaign Will Your Pension Finance?

723-A Secret Plan to Shut Down Social Security’s Offices and Outsource Its Work - A report suggests that many of the SSA’s critical functions could soon be outsourced to private-sector partners and contractors.

724-725 deleted

726-The Way to Stop Corporate Lawbreaking is to Prosecute the People Who Break the Law

727-TPP Wikileaked: US Watering Down Enviro Protections in Secret Trade Deal

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731-Tepid employment report masks depth of US jobs crisis

732-The Full Employment Route to Poverty Reduction

733-Fed: Under Obama, only the richest 10 percent saw incomes rise

734-Temp labor at record levels in US

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737-Fed: Median incomes drop for all but wealthiest

738-Ferguson, the Foreclosure Crisis and America’s Hedge-Fund Landlords

739-Detroit Cuts Off Water To Poor People BUT Not Delinquent Businesses!

740-Detroit Shuts Off Water to Residents but Not to Businesses Who Owe Millions

741-deleted

742-The Corporate Global Privatizing Complex

743-Regional authority a prelude for privatization of Detroit water system

744-deleted

745-Preparing to Asset-Strip Local Government? The Fed's Bizarre New Rules

746-deleted

747-The Bankruptcy of Detroit and the Division of America

748-Wall Street Mega-Banks Are Buying Up The World’s Water

749-Wall Street’s Buying the World’s Water Supply at an Alarming Pace

750-deleted

751-Microsoft Admits Keeping $92 Billion Offshore to Avoid Paying $29 Billion in US Taxes

752-Playing God - The Rebirth of Family Capitalism or How the Koch Brothers, Sheldon Adelson, Sam Walton, Bill Gates, and Other Billionaires are Undermining America

753-deleted

754-Investor Dispute Settlement: A Rogue Corporation in the World Bank’s Rogue Tribunal

755-Americans face post-foreclosure hell as wages garnished, assets seized

756-758 deleted

759-'Have a sense of humility, right?': Fired Fed worker unveils secretly taped meetings between regulators and Goldman S60hs showing government 'is in the bankers' pockets'

760-When the Workday Never Really Ends

761-Highly educated, unemployed and tumbling down the ladder

762-The Three Million Forgotten Victims of the Great Recession

763-deleted

764-9 reasons the American middle class is dying: One percent of Americans now own more than a third of the country's wealth. Raising the minimum wage isn't enough

765-A Vicious Cycle: Income Inequality Is Hurting States’ Bottom Lines

766-How Rich Old White Men Are Taking Lunch Money Away From Inner-City Black Kids

767-Census: In 2013, inequality continued skyward, earnings stayed flat

768-deleted

769-Pollution Inequality and Income Inequality

770-Rising Inequality Means More Volatility for State Budgets

771-773 deleted

774-Wealth and Poverty in the United States by Jeremy Cloward, Ph.D.

775-deleted

776-Robert Reich: Harvard Business School is complicit in America’s widening inequality - The former secretary of labor calls out the famed university for the way it's educating our country's future CEOs

777-deleted

778-The Hidden History of Prosperity

779-The Mysteries of Inequality Are Only Mysterious to Elites

780-Wealth of richest 400 Americans surges to $2.29 trillion

781-783 deleted

784-Detroit bankruptcy conspiracy enters its final stage

785-Detroit charged $126 million by law firms and consultants in bankruptcy case

786-deleted

787-Federal judge opens door to the shredding of California public worker pensions

788-deleted

789-WikiLeaks Revelations on Trans-Pacific Partnership Ignored by Corporate Media

790-The trade clause that overrules governments

791-Delusion and deception in Obama’s State of Union

792-Dodd-Frank Budget Fight Proves Democrats Are a Bunch of Stuffed Suits

793-Full Show: Democrats Bow Down to Wall Street

794-796 deleted

797-UN warns of growing inequality and joblessness

798-deleted

799-Cromnibus Pension Provisions Gut 40 Years of Policy, Allow Existing Pensions to Be Slashed

800-802 deleted

803-Kentucky Pension Investments: State Says Retirees Have No Right to Know Details of Fees And Investment Risks

804-Michael Hudson: The War on Pensions – The US Budget Anti-Pension Law By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College.

805-New Jersey says it does not have to make pension contributions

806-The 2015 Federal Budget Ended Pension Protections for Millions of Retirees (text and videos)

807-deleted

808-Vermonters Didn’t Get the Public Bank They Wanted — But Did Win Millions for Local Investment

809-“We are in great danger”: Ex-banker details how mega-banks destroyed America - "The power has only been more consolidated," warns Goldman Sachs veteran Nomi Prins in an interview with Salon

810-811 deleted

812-Obama’s Foreclosure Relief Program Was Designed to Help Bankers, Not Homeowners

813-Still Going Postal

814-deleted

815-Dean Baker | Seven Years After: Why This Recovery Is Still a Turkey

816-deleted

817-Robert Reich: America is headed full speed back to the 19th century - Former labor secretary Robert Reich on the dangers of on-demand jobs and our growing intolerance for labor unions

818-Is the unemployment rate really just a 'Big Lie'?

819-The Federal Reserve Board's Plan to Kill Jobs

820-Why We’re All Becoming Independent Contractors

821-deleted

822-Welcome to Our New Share-the-Scraps Economy

823-An Economist Identified the Corporate Behavior That Led to Our Staggering Inequality

824-US Workers Subsidize Corporations at Least $10,000 per Year

825-deleted

826-NYC Public Pension Fund May Invest with Charter Backer

827-New State Pensions Rules Expose Serious Fund Deficits

828-U.S. top court rules for employer in retiree benefits fight

829-The United States’ Enormous Trade Deficits Are Widening. Why Aren’t We Fixing Our Failed Policies?

830-This Billionaire Governor Taxed the Rich and Increased the Minimum Wage -- Now, His State's Economy Is One of the Best in the Country

831-Tomgram: Pepe Escobar, Inside China's "New Normal"

832-Robert Reich: “The Worst Trade Deal You’ve Never Heard Of”

833-Will the United States End Up Like Greece? The Risks of the Trans-Pacific Partnership

834-The SEC’s Andrew Bowden: A Regulator for Sale?

835-A Tale of Two Bank Tellers: Rebuilding the Middle Class Through Better Banks

836-Tomgram: Nomi Prins, Hillary, Bill, and the Big Six Banks

837-838 deleted

839-New Report: Big Banks Require Tellers to Use Predatory Practices

840-Still Too Big To Fail - Opportunities for Regulatory Action Seven Years after the Bear Stearns Rescue by Professor of Law Jennifer Taub, Vermont Law School
841-Burned Out: World Bank Projects Leave Trail Of Misery Around Globe

842-Burning Our Bridges

843-Bill Black: Krugman Bashes Progressives for Criticizing Obama on Grounds that He Criticizes Obama

844-Life is funny

845-Fast Track: We're Winning, Phony Group Created, Repubs Say No

846-Here’s What Happens When We Lower Corporate Tax Rates

847-The Answer to Homelessness? Reliable Employment.

848-Four numbers that prove America’s economic model is broken - New data reveal the richest .1 percent are increasing their wealth by an astonishing $10 million per year

849-Economic Inequality: It’s Far Worse Than You Think: The great divide between our beliefs, our ideals, and reality

850-Employers Complain of Rising Premiums, but Workers’ Comp Is at 25-Year Low

851-Entitlements are Bankrupting America. But the Rich Keep Taking Them.

852-deleted

853-How Much Is Your Arm Worth? Depends On Where You Work

854-Inequality’s Dead End — And the Possibility of a New, Long-Term Direction

855-Off the Deep End: The Wall Street Bonus Pool and Low-Wage Workers

856-deleted

857-The 1 percent are parasites: Debunking the lies about free enterprise, trickle-down, capitalism and celebrity entrepreneurs - The rich don't generate jobs. Rising tides do not lift all boats. And they probably built that with government help

858-The 1 percent rigged everything: Why no one can end Ronald Reagan’s “dead wrong” voodoo economics - A thriving middle class is the cause of growth. The middle class creates rich people -- not the other way around

859-The Demolition of Workers’ Comp - Over the past decade, states have slashed workers’ compensation benefits, denying injured workers help when they need it most and shifting the costs of workplace accidents to taxpayers.

860-Detroit Just Had the Single Largest Tax Foreclosure in American History - As many as 100,000 of the city's residents—about a seventh of the total number—are now on track for what many are calling an eviction "conveyor belt."

861-Burning Our Bridges: Failing Infrastructure in the Age of Corporate Tax-Dodging - President Obama and some members of Congress think the easiest way to fund infrastructure is by granting corporations a large tax cut on their untaxed offshore profits.

862-How China is upsetting the old global economic order

863-How the New Flexible Economy Is Making Workers’ Lives Hell

864-5 ways privatization is fleecing American taxpayers: Government outsourcing goes horribly wrong more often than not. Here are a few representative horror stories

865-deleted

Privatization threatens your public lands

866-How Privatization Degrades Our Daily Lives

867-How Wall Street Used Swaps to Get Rich at the Expense of Cities

868-A Foreclosure Conveyor Belt: The Continuing Depopulation of Detroit

869-Tomgram: Laura Gottesdiener, Another Round of Detroit Refugees?

870-871 deleted

872-As NYC, NJ, RI, NC And The Nation's Public Pension Boards Slept, Wall Street Partied For A Decade

873-Chris Christie: New Jersey Pension Launches Probe Of Fees to Wall Street

874-Chicago Teacher Pension Money Invested With Rahm Emanuel's Friends and Donors

875-Jeb Bush Funneled Almost $2 Billion in FL Pension Funds to Brother's 'Pioneer' Donors

876-Illinois lawmakers want vetting of governor's pension proposal

877-Jeb Bush's Administration Steered Florida Pension Money to George W. Bush’s Fundraisers

878-deleted

879-New York City Comptroller Scott Stringer Pushes To Give Wall Street More Pension Cash

880-881 deleted

882-The Truth about John Arnold

883-deleted

884-With Banks 'Still Too Big to Fail,' Another Financial Meltdown Loom - 'Should one of these giant banking firms fail again, it appears that the damage will not be contained.'

885-The Libertarian Delusion

886-A Look at the Fast Track Bill Shows It’s the Wrong Thing to Do

887-The Case That Blew the Lid Off the World Bank’s Secret Courts

888-deleted

889-Progressives: We’ve Never Heard Of This “Progressive” Group Backing Obama’s Trade Deal - The “Progressive Coalition For American Jobs,” run by former Obama campaign staffers, purports to represent the progressive left on the trade deal that the progressive left hates.

890-Trade Expert: Why TPP — “NAFTA on Steroids” — Must Be Stopped

891-Wikileaks Reveals TPP Proposals to Let Corporations Sue Nations if their Laws Interfere with Profits

WikiLeaks Reveals TPP Proposal to Let Corporations Sue Nations if their Laws Interfere with Profits - See more at: http://upriser.com/posts/wikileaks-reveals-tpp-proposal-letting-corporations-sue-nations-if-their-laws-interfere-with-profits#sthash.OD0xmjB4.dpuf

892-Proposed TTIP Agreement is Profoundly Undemocratic

893-The Populists understood the money system

894-deleted

895-After 6-Year Tenure Not Prosecuting Banks, Eric Holder Returns 'Home' to Defend The Them: Critics say new position of former attorney general, known for protecting big banks, is a dramatic example of the revolving door

896-Another Massive Citibank Billion Dollar Theft From Consumers and NO ONE GOES TO JAIL

897-deleted

898-We Are All Greeks Now by Chris Hedges

899-902 deleted

903-The Big Banks Are Corrupt – And Getting Worse

904-Tomgram: Nomi Prins, Hillary, Bill, and the Big Six Banks

905-Hillary Clinton’s Mistake on Glass-Steagall

906-The Obama Administration, the 49 State Mortgage Settlement, and the Spin: A Study in Shamelessness

907-deleted

908-Mistakes Progressives Make In Framing The Economic Debate - Stephanie Kelton Discusses (YouTube)

909-Obama's Big Sellout: The President has Packed His Economic Team with Wall Street Insiders - The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway

910-Only Obama and Wall Street Criminals will Love Loretta Lynch as AG

911-deleted

912-Obama Trades Transparency

Watch: Obama Trades Transparency

913-Obama Hurls Insults at Liberals on Trade -Progressives Called Ignorant, Insincere, and Motivated by Politics

Progressives called ignorant, insincere, and motivated by politics, sparking fury among President's base Read more at http://observer.com/2015/05/obama-hurls-insults-at-liberals-on-trade/#ixzz3gvRZfoly Follow us: @newyorkobserver on Twitter | newyorkobserver on Facebook Read more at: http://tr.im/D0iYF

Obama Hurls Insults at Liberals on Trade Progressives called ignorant, insincere, and motivated by politics, sparking fury among President's base Read more at http://observer.com/2015/05/obama-hurls-insults-at-liberals-on-trade/#ixzz3gvRHRo9M Follow us: @newyorkobserver on Twitter | newyorkobserver on Facebook Read more at: http://tr.im/D0iYF

914-The Democratic Party Would Triangulate Its Own Mother: The latest squabble over the Trans-Pacific Partnership shows just how low America's "Progressive" Party has sunk

915-May Jobs Report: Progress and a Long Way to Go

916-“People and Planet First”: On the Moral Authority of Climate Justice and a New Economy

917-Dodd-Frank at Five: Private Equity and the SEC

918-Foreclosure Victims Occupy Senate Stump Speech Of Kamala Harris

919-920 deleted

921-The Political Roots of Widening Inequality

922-923 deleted

924-U.S. and Israel have worst inequality in the developed world

925-“Something is rotten in Michigan”: Poisoned water supplies, dissolved school districts and a massive unraveling of American democracy - Gov. Rick Snyder has given himself regime-change-style powers like Bush in Iraq, and his state is paying the price

926-deleted

927-Demonizing Teachers, Privatizing Schools: The Big Lies and Big Plans Behind the Atlanta School Cheating Scandal

928-Tomgram: Gottesdiener and Garcia, How to Dismantle This Country

929-930 deleted

931-Disney Profits Soar After Replacing US Workers With Cheaper Foreign Temps - As the Disney Corporation reports its most profitable year yet, hundreds of its former employees are unable to share the wealth after the magical kingdom replaced them with temporary foreign workers.

932-10 Reasons the TPP Is Not a 'Progressive' Trade Agreement

933-Democrats recount labor's pressure tactics - ‘I haven’t seen this look in their eyes in a long time.’

934-deleted

935-Congress Can — and Should — Declassify the TPP

936-deleted

937-Here’s how much corporations paid US senators to fast-track the TPP bill: Critics of the controversial Trans-Pacific Partnership are unlikely to be silenced by an analysis of the flood of money it took to push the pact over its latest hurdle

938-EU dropped pesticide laws due to US pressure over TTIP, documents reveal - US trade officials pushed EU to shelve action on endocrine-disrupting chemicals linked to cancer and male infertility to facilitate TTIP free trade deal

939-Food, Water, Health, Life: UN Experts Warn of Threats Posed by Secret 'Trade' Deals' - All draft treaty texts should be published so that Parliamentarians and civil society have sufficient time to review them and to weigh the pros and cons in a democratic manner,' say officials

940-Free Trade Agreements Fail Workers at Home — And Workers Abroad

941-Leaked: What’s in Obama’s trade deal - Is the White House going to bat for Big Pharma worldwide?

942-Is the TPP Okay With Slavery? Really?

943-deleted

944-Julian Assange on the Trans-Pacific Partnership: Secretive Deal Isn’t About Trade, But Corporate Control

945-deleted

946-Nike, Obama and the Fiasco of the Trans Pacific Partnership

947-deleted

948-ObamaTrade Rewards US Corporations That Profit From Slavery

949-951 deleted

952-The March Trade Deficit and the Trans-Pacific Partnership

953-The Trans-Pacific Partnership (TPP): This Is Not About Ricardo

954-This Small Town’s History Shows Why the TPP Could Be a Disaster for US Workers

955-U.S.-Korea Trade Deal Resulted in Growing Trade Deficits and Nearly 60,000 Lost Jobs

956-Wikileaks Exposes Obama’s Fake Trade Deal – Only 5 Of The 29 Chapters Are Actually About Trade

957-William Rivers Pitt | Killing a Nation With Euphemisms: TPP-Eats-Medicare Edition

958-"Surviving Progress" a 2011 film available on Netflix

959-"Zeitgeist: Addendum" a 2008 film available on Netflix

960-Reinventing Banking: From Russia To Iceland To Ecuador

961-How Democrats Pillaged Chicago Toward Bankruptcy

962-deleted

963-Obama's 2 Mistakes That Lost the Country

964-Obama’s Foreclosure Relief Program Was Designed to Help Bankers, Not Homeowners

965-966 deleted

967-Treasury Report Shows Biggest Threat to U.S. Is on Wall Street

968-deleted

969-The Tipping Point: Most Americans No Longer Are Middle Class

970-Lurking Within That Ominous, Omnibus Spending Bill - The bipartisan budget compromise is a holiday giveaway to the wealthy.

971-House kills pension bill, leaving budget deal in tatters

972-Democratic Banking for the 99%: Public Banks Stop Wall Street from Gambling with our Money

973-Government books $41.3 billion in student loan profits - Figures come as concerns mount about growing loan debt for students, graduates.

974-deleted

975-How 37 Banks Became 4 In Just 2 Decades, All In One Astonishing Chart.

976-deleted

977-Fifth Third Bank to Pay $18 Million Settlement For Charging Black Customers More Interest for Auto Loans

978-Overdrawn and Overworked: How Banks Are (Still) Screwing Consumers With Overdraft Fees

979-Newsletter: After The Crash...

980-deleted

981-Iceland Forgives Entire Population of its Debt. Total US Media Blackout.

982-deleted

983-The “Dirty Work” of the International Monetary Fund, Lays the Groundwork for Worldwide Financial Conquest

984-985 deleted

986-Obama Instituted the ‘Greatest Transfer of Wealth in History’ to the 1%

987-988 deleted

989-President Obama’s Top 12 Failures on Money in Politics

990-deleted

991-Yet Another Fabricated Jobs Report — Paul Craig Roberts

992-Here's Why the Jobs Economy Doesn't Feel Strong Despite Years of Strong Growth Numbers

993-Our Jobs Are Disappearing

994-deleted

995-The Big Lie: 5.6% Unemployment

996-95% consensus of expert economists: cut carbon pollution: A survey of economists with climate expertise finds a consensus that climate change is expensive and carbon pollution cuts are needed

997-1% Still Beating The Crap Out Of The Tax Code

998-6 numbers that tell you everything you need to know about America’s busted priorities - If you're wondering why wages are stagnating and inequality is on the rise, look no further

999-American capitalism has failed us: We’re overworked, underemployed and more powerless than ever before - Denmark, Norway and Sweden are all thriving under democratic socialism. Why is it so difficult for us to embrace?

1000-Economic apartheid: Explosive report shows how rich Americans have their own “private tax system that saves them billions” - The U.S. tax system is essentially regressive, and rich elites use the money they save to buy political influence

1001-Five Trends Shaping America in 2016: The Pew Research Center recently highlighted some data points worth noting as we enter this election year.

1002-What We’re Reading About the Flint Crisis: The tragedy tells us a lot about America in 2016. Here are some key points.

1003-deleted

1004-How to Corral the Donor Class - When it comes to money in politics, the real problem is not corruption, but inequality.

1005-New Thinking on Rescuing Our Politics from Plutocrats - In his new book Plutocrats United, election law scholar Rick Hasen argues that the problem isn't that politicians are corrupted by special interests — it's that they have no incentive to pay attention to anyone but the rich.

1006-Five Trends Shaping America in 2016 - The Pew Research Center recently highlighted some data points worth noting as we enter this election year.

1007-Income Inequality Is a Health Hazard – Even For The Rich

1008-Tomgram: Ann Jones, Social Democracy for Dummies

1009-deleted

1010-Obama Signs $8.7 Billion Food Stamp Cut Into Law - More Cuts Will Follow To Other Social Programs

1011-deleted

1012-Reform Is Not Enough to Stem the Rising Tide of Inequality Worldwide

1013-Richest 62 people as wealthy as half of world's population, says Oxfam - Charity says only higher wages, crackdown on tax dodging and higher investment in public services can stop divide widening

1014-The greatest trick the rich ever pulled was making us believe they pay all the taxes

1015-The Real Terrorists: The .01%

1016-1017 deleted

1018-Bill Could Open Door to Privatization of Water Utilities in Wisconsin

1019-Emergency for Democracy: Unelected Manager Who Caused Flint Water Crisis Now Runs Detroit Schools

1020-Christie Signs Bill Privatizing New Jersey's Water Supply

Christie Signs Bill Privatizing New Jersey's Water Supply - See more at: http://thecontributor.com/christie-signs-bill-privatizing-new-jerseys-water-supply#sthash.rTecY99K.dpuf

1021-The looting of US workers’ pensions

1022-Jeff Sessions: TPP ‘Breathtaking … Erosion of Sovereignty’

1023-New NAFTA lawsuits reveal disturbing, dangerous trend - If corporate interests keep suing Canada and other countries under trade agreements like NAFTA, state sovereignty might soon be a thing of the past.

If corporate interests keep suing Canada and other countries under trade agreements like NAFTA, state sovereignty might soon be a thing of the past. - See more at: http://theindependent.ca/2016/01/14/new-nafta-lawsuits-reveal-disturbing-dangerous-trend/#sthash.HeY6aSi5.dpuf

New NAFTA lawsuits reveal disturbing, dangerous trend - See more at: http://theindependent.ca/2016/01/14/new-nafta-lawsuits-reveal-disturbing-dangerous-trend/#sthash.cWm1QNms.dpuf

1024-WikiLeaks - The US strategy to create a new global legal and economic system: TPP, TTIP, TISA. (YouTube)

1025-deleted

1026-The Chart That Explains Everything

1027-The Untouchables: How the Obama administration protected Wall Street from prosecutions by Glenn Greenwald

1028-Biggest banks are still too big to fail: Fed’s Kashkari - MarketWatch

1029-deleted

1030-Central bankers 'don't have a clue' - Jim Rogers - Feb. 15, 2016

1031-deleted

1032-The Federal Reserve and the Global Fracture

1033-President Obama Sides With U.S. Corporate Tax Cheats

1034-Article: Expanded Version: The Us Economy Has Not Recovered and Will Not Recover | OpEdNews

1035-More unemployment and less security « Systemic Disorder

1036-1038 deleted

1039-Nickel and Dimed in 2016 - BillMoyers.com

1040-Tomgram: Peter Van Buren, Minimum Wage, Minimum Chance | TomDispatch

1041-deleted

1042-Profiting off of chaos: How the U.S. privatized its war in Afghanistan — Antony Loewenstein on “Disaster Capitalism” - Salon.com

1043-With A Brooklyn Accent: Privatizing What Should Be Public; The True Face of Inequality in Parks and Schools in NYC

1044-1047 deleted

1048-Taxes on trial - how trade deals threaten tax justice | Global Justice Now

1049-1050 deleted

1051-Trade Officials Promised Exxon That TTIP Will Erase Environmental 'Obstacles' Worldwide | Common Dreams | Breaking News & Views for the Progressive Community

1052-Corporate Tax Avoidance Could Get Worse Under Trade Agreements | PopularResistance.Org

1053-deleted

1054-Bank of America: Too Crooked to Fail - The bank has defrauded everyone from investors and insurers to homeowners and the unemployed. So why does the government keep bailing it out?

1055-deleted

1056-BRICS Under Attack: The Empire’s Destabilizing Hand Reaches Into South Africa - An undercurrent of political manipulation pulses beneath the surface of popular South African demonstrations organized around legitimate grievances. But who’s pulling the strings? And why?

1057-deleted

1058-Five Big Banks Flunk Key Test, Proving They're Still "Too Big To Fail" - 'The goal to end too big to fail and protect the American taxpayer by ending bailouts remains just that: only a goal,' says fetderal regulator

1059-Why the Banks Should Be Broken Up

1060-1061 deleted

1062-Met chief suggests banks should not refund online fraud victims - Bernard Hogan-Howe accused of victim blaming after saying cybercrime is made worse by people with poor web security

1063-New BRICS-supported bank approves first set of loans

1064-BRICS Under Attack: Western Banks, Governments Launch Full-Spectrum Assault On Russia (Part I) - Russia is the target of a multi-faceted, asymmetric campaign of destabilization that has employed economic, political, and psychological forms of warfare -- each of which has been specifically designed to inflict maximum damage on the Kremlin.

1065-1068 deleted

Iceland forgives entire population its debt. Total US media blackout.

1069-The End of Big Banks? - "Too big to fail" may soon be a thing of the past.

1070-deleted

1071-Wells Fargo settles for $1.2 billion, admits they deceived U.S. government into insuring crap

1072-“Liberal” Economists Cheered the New Democrats’ Deregulation of Finance

1073-Clinton/Obama pushed Panama trade deal that now houses $13 Trillion in Tax Havens for filthy rich

1074-Commerce Secretary Pritzker Defends Corporate Tribunals In TPP

1075-deleted

1076-Retiring Obama Administration Prosecutor Says the SEC Is Corrupt

Iceland forgives entire population its debt. Total US media blackout.

1077-How Dems Created a “Liberalism of the Rich” - In this excerpt from his new book, Frank writes about the Democrats' new innovation in liberalism -- which isn’t the stuff of Franklin Roosevelt or the United Auto Workers.

1078-How Illinois Democrats hoodwinked the middle class

1079-Tomgram: Thomas Frank, The Inequality Sweepstakes

1080-HOW CLINTON DEMOCRATS KILLED ROOSEVELT’S DREAM OF THE AFFORDABLE HOME

1081-Obama Admin Finally Grants Homeowners 2008 Crisis Debt Relief; “Big Banks Got Their Money Immediately,” Warren Laments

1082-deleted

1083-Chris Hedges and Michael Hudson: Junk Economics and the Future, Part 2

1084-Economics Is a Mess and Needs to be Reformed - Organizing the jumbled schools of economic thought

1085-Alternate Unemployment Charts

1086-The Big Lie: 5.6% Unemployment

1087-How Adam Smith’s Invisible Hand Was Corrupted by Laissez-Faire Economics - If read correctly, Smith's invisible hand shows the limits of laissez-faire

1088-1089 deleted

1090-Concentrated Power Drives Extreme Income Inequality and Slows Economic Growth - The concentration of corporate power

1091-Panama Papers: why tax havens matter, in one chart

1092-The costs of inequality: When a fair shake isn’t - Harvard researchers, scholars identify stubborn tenets of America’s built-in inequity, offer answers

1093-Wage inequality continued its 35-year rise in 2015

1094-1 Chart Every Middle-Class American Needs to See - You might be surprised to find out how the American middle class stacks up against the rest of the world.

1095-The Association Between Income and Life Expectancy in the United States, 2001-2014

1096-Here's how America's middle class stacks up against the rest of the world's

1097-The Democrats own this mess too: Gerrymandering and obstructionism alone can’t explain American inequality - Progressives are told time and again that Clinton and Obama are the best their party can do. It's a total crock

1098-Global inequality may be much worse than we think

1099-deleted

1100-Millennials Are Paying for ‘the Western World’s Most Stunning Accounting Disaster to Date’

1101-Ontario report: Inequality at levels “not seen since the Great Depression”

1102-USA: The World's Newest Third World Nation

1103-deleted

1104-The Panama Papers: What They’re All About - Here's a basic primer on the global offshore tax haven scandal with some useful links.

1105-deleted

1106-Why Elites Want More Competition for Everyone Except Themselves - Is anti-competition driving income inequality?

1107-deleted

1108-Neoliberalism has hijacked our vocabulary

1109-deleted

1110-Grand Rapids veterans home is Michigan's latest outsourcing disaster

1111-Privatization savings fade as vets home answers audit

1112-The Only Woman to Win the Nobel Prize in Economics Also Debunked Mainstream Economics - The truth about the tragedy of the commons

1113-'Let them sell their summer homes': NYC pension dumps hedge funds

1114-Congress approves plan to allow pension cuts

1115-deleted

1116-Ill. Supreme Court strikes down Chicago pension rescue plan

1117-deleted

1118-The State of American Retirement - How 401(k)s have failed most American workers

1119-Budget Deal Kicks the Can on Disability Insurance, Robs $150 Billion From Social Security

1120-Making money is not a vice, but refusing to contribute tax is - Being a tax dodger is antisocial. That tight friend who never buys a drink but earns more than you – that’s who’s running the country right now

1121-deleted

1122-Freedom Rider: The Panama Papers Problem

1123-1124 deleted

1125-TPP Grants Banks Terrifying Secret Powers - video(YouTube)

1126-Now We Know Why Huge TPP Trade Deal Is Kept Secret From the Public

1127-deleted

1128-The Trans-Pacific Partnership Is Unlikely to Be a Good Deal for American Workers

1129-Traditional Economics Failed. Here’s a New Blueprint - Why true self-interest is mutual interest

1130-23 Countries Now Abandoning US Dollar

1131-Complexity Economics Shows Us Why Laissez-Faire Economics Always Fails - Why markets are like gardens, not machines

1132-Do We Own Money, or Does Money Own Us? Markets, Numbers, and Prices - What do we do when the numbers look wrong, when the incentives they produce no longer make sense?

1133-Don’t Be Fooled. Corporate Ecosystems Are Filled with Predators and Parasites - The complex ecosystem and nature of firms

1134-Economics Has Failed America - When it comes to the impact of global trade, the dismal science has done a dismal job explaining how to help workers hurt by globalization.

1135-How the Invisible Hand Was Corrupted by Laissez-Faire Economics - Smith's invisible hand shows the limits of laissez-faire

1136-How Bad Biology is Killing the Economy - The flaws in the competition-is-good-for-you logic

1137-Isn’t it Time to Stop Calling it “The National Debt”? How about Government-Issued Assets instead?

1138-The Crisis This Time: US Capitalism Continues to Decline with No End in Sight

1139-You Don’t Own That! The Evolution of Property - Get off my lawn.

1140-World War III Has Begun

1141-Iceland Sentences 26 Corrupt Bankers To 74 Years In Prison

1142-Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California?

1143-deleted

1144-Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton’s VP - Who needs consumer protections when we have all these job creators?

1145-Big Banks Just Claimed A Constitutional Right To A Taxpayer Subsidy

1146-BRICS Under Attack: Western Banks, Governments Launch Full-Spectrum Assault On Russia

1147-1148 deleted

1149-Big banks driving hotter climate

1150-deleted

1151-Big banks are shorting the climate - at what cost?

1152-Big Banks Betting Against Climate Change Policies, Spending Billions On Fossil Fuel Projects: Report

1153-First They Jailed the Bankers, Now Every Icelander to Get Paid in Bank Sale

1154-1155 deleted

1156-NGOs to regulators: Stop banks from funding haze culprits - An international coalition of 70 green groups has called on financial regulators to force banks to stop funding companies which are found to be responsible for forest fires in Southeast Asia.

1157-North Dakota's Boom Goes Bust. It's Public Bank Comes to the Rescue!

1158-1160 deleted

1161-Banks Gone Bad: How Our Evolved Morality Has Failed Us - We seem to be unable to punish bankers for their scandalous behavior because our moral instincts can’t cope

1162-deleted

1163-The Rise of Finance and The Fall of American Business: Companies don’t innovate when they can make more money from financialization

1164-Why Garbagemen Should Earn More Than Bankers - How more and more people are making money without contributing anything of value

1165-US Federal Court: Private Lawsuit Can Bring 16 of the World’s Largest Criminal Banks to Their Knees

1166-Wall Street Money: Barney Frank To Oversee Democratic Platform While Running Big Bank

1167-deleted

1168-Why Californians are paying Double in interest to the banks

Why Californians Are Paying Double – In Interest to the Banks - See more at: http://www.occupy.com/article/why-californians-are-paying-double-%E2%80%93-interest-banks?utm_source=Website+%27Join+Us%27&utm_campaign=7e84cc7a9c-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_77fe4a462d-7e84cc7a9c-58981489#sthash.F6BWNNSk.dpuf

1169-Why Haven’t Bankers Been Punished? Just Read These Insider SEC Emails - Right after the financial crisis, an SEC lawyer fought a lonely struggle to get his agency to crackdown harder on Goldman bankers. He lost.

1170-deleted

1171-Jail the Bankers? Obama Has Been Their Staunchest Defender

1172-deleted

1173-Obama Instituted the ‘Greatest Transfer of Wealth in History’ to the 1%

1174-Obama orchestrated a massive transfer of wealth to the 1 percent

1175-Democrats Accept More Cuts in Food Stamp Program

1176-President Obama signs $8.7 billion food stamp cut into law

1177-Why Obama Won’t Help Foreclosure Victims

1178-Can We Please Stop Pretending Obama is “Capitulating” on Social Security?

1179-deleted

1180-The Obama Legacy Part 2: Economic Policy Wall Street Could Count On

1181-Thomas Frank on How Democrats Went From Being the ‘Party of the People’ to the Party of Rich Elites: Democrats have gone from the party of the New Deal to a party that is defending mass inequality.

1182-Tomgram: Nomi Prins, Too Big to Fail, Hillary-Style

1183-Emails Show TPP 'Collusion' Between Big Banks & Obama Administration - Emails obtained through Freedom of Information Act (FOIA) show U.S. Trade Rep. Michael Froman discussing TPP with Goldman Sachs lobbyists

1184-Obama and Clinton Collude to Ram TPP through Lame Duck Congress

1185-deleted

1186-WikiLeaks: Citigroup Exec Gave Obama Recommendation of Hillary for State, Eric Holder for DOJ

1187-Can Capitalism Survive Without the Commons? What can bind people together beyond the minimal social and civic ties?

1188-The Only Woman to Win the Nobel Prize in Economics Showed Us How to Solve the Climate Crisis - Don’t wait for global politics to fix climate change – we can do it ourselves

1189-The Tragedy of the Commons: How Elinor Ostrom Solved One of Life’s Greatest Dilemmas - The design principles for solving the tragedy of the commons can be applied to all groups

1190-Alternate Unemployment Charts

1191-The sure way not to solve any unemployment problem

1192-Unemployment kills: 1 in 5 suicides is associated with unemployment

1193-Record Shattering 94.7 Million Americans Not in the Labor Force. Up by 664,000 in One Month.

1194-deleted

1195-Productivity Is Slowing and Inequality Is Growing. Here’s What’s Causing it. Productivity, Inequality, and Economic Rents

1196-They Don’t Just Hide Their Money. Economist Says Most of Billionaire Wealth is Unearned. The concentration of wealth from rent-seeking

1197-US Income Inequality Reaches Historic High

1198-Wealth Inequality in America (YouTube)

1199-deleted

1200-Wolf Richter: These Debt Slaves are the Government’s Largest Asset Class, and It Will Haunt the Economy for Years

1201-Getting Radical Might Be the Most Practical Way to Fix Inequality: Why we need more radical policies so that we don’t just repeat the debt-fueled booms all over again

1202-Katrina Pain Index 2016 by the Numbers: Race and Class Gap Widening

1203-It Is Time to Begin the Process of Rebuilding Our Middle-Class Economy - Our collapse from an "opportunity for all" middle-class economy to a "winner-take-all," dog-eat-dog system is behind many problems we face as a society.

1204-1205 deleted

1206-Nobel Laureate Economist Says American Inequality Didn’t Just Happen. It Was Created. How to keep power at the top of society

1207-Poor Wages Send A Third Of US Manufacturing Workers To Welfare Lines In Order To Pay For Food, Healthcare, Data Show

1208-Richest 62 people as wealthy as half of world's population, says Oxfam - Charity says only higher wages, crackdown on tax dodging and higher investment in public services can stop divide widening

1209-System Meltdown: How US Imperialism is Whitewashing Crisis on Multiple Fronts

1210-The Anatomy of Crisis and the Decline of US Empire

1211-The winners have taken all: Middle class incomes are plummeting — with no relief in sight. The staggering reality is that half of America is in financial distress and at risk of falling deeper into debt.

1212-Being Rich Doesn’t Mean You’re More Hardworking: Economist Says Markets Amplify Luck - Why people with similar talents earn such dramatically different incomes

1213-Joseph Stiglitz Says Standard Economics Is Wrong. Inequality and Unearned Income Kills the Economy - The rules of the game can be changed to reverse inequality.

1214-Mainstream Economics Has Become a Celebration of the Wealthy Rentier Class - The One Percent have found a pressing need for the services of mainstream economists

1215-Why Trump-Sanders Phenomenon Signals an Oligarchy on the Brink of a Civilization-Threatening Collapse: Oligarchies win except when society enacts effective reforms

1216-It’s Simple! Concentrated Wealth and Inequality Crushes Economic Growth: More billionaire dollars, slower growth. Full stop.

1217-deleted

1218-Tomgram: Nomi Prins, Going Offshore in the 2016 Election Campaign

1219-deleted

1220-We Are So Poor Because They Are So Rich by Dariel Garner

1221-1222 deleted

1223-5 ways privatization is fleecing American taxpayers: Government outsourcing goes horribly wrong more often than not. Here are a few representative horror stories

1224-8 Ways Privatization Has Failed America

1225-Privatizing America’s Public Land

1226-Study: Privatizing government doesn’t actually save money

1227-deleted

1228-The Offshore Outsourcing of American Jobs: A Greater Threat Than Terrorism

1229-Tomgram: William deBuys, No More Wide Open Spaces? Privatizing America's Public lands

1230-Are Your Retirement Savings Being Used to Undermine Our Democracy?

1231-deleted

1232-Opinion: How the Teamsters pension disappeared more quickly under Wall Street than the mob

1233-deleted

1234-The House Just Voted To Give Wall Street Billions From Americans’ Retirement Savings - Brokers are allowed to give you bad advice. The House wants to keep it that way.

1235-Social Security Still Isn’t Broke, New Report Confirms

1236-“It is happening again”: David Dayen on the epidemic of mortgage fraud and the rigged economy that sets it in motion - David Dayen's new book explores the criminal conspiracy that destroyed the lives of millions

1237-A Radical Proposal After Brexit: End the European Union and Begin Destructive Creation: Why the European Union should start over

1238-How the blockchain will radically transform the economy - TED Talk

1239-Business Schools Should Start Teaching How to Create Value and Stop Teaching How to Make a Quick Buck: How MBA programs drive wealth inequality

1240-Chimpanzees Prove That Elites Don’t Understand Darwin’s Message About Cooperation - The evolutionary roots of our social contract

1241-Democracy. Capitalism. Socialism. Choose Any Three of the Above - If you don’t have a big bathtub of oil in the ground, you need all three to deliver widespread economic well-being.

1242-Do Markets Make Us Fair, Trusting, and Cooperative, or Bring out the Worst in Us? - Scientists traveled the world to understand how markets shape human behavior

1243-Distinguished Professor of Corporate and Business Law Says Wall Street Doesn’t Do Anything Useful - It’s time to challenge the idea that Wall Street trading helps allocate society’s resources more efficiently

1244-Economic Theory Is Dead. Here’s What Will Replace It. - From Einstein to Darwin

1245-Economist Debunks Huge Free-Market Myth About Government - Why the state must be entrepreneurial

1246-Economist J. W. Mason: “When We Turn to Concrete Economic Questions, There Isn’t Really a ‘Mainstream’ at All.” - There is a mix of common-sense opinions, political prejudices, conventional business practice, and pragmatic rules of thumb, supported in an ad hoc, opportunistic way by bits and pieces of economic theory.

1247-Economists Forgot Smith and Darwin’s Message: Society Cannot Function Without Moral Bonds - The problem when we ignore moral dispositions and concentrate on self-interest

1248-Economists Keep Getting It Wrong Because the Media Coverup Their Mistakes

1249-Economists Should Stop Defending Milton Friedman’s Pseudo-science - On the pseudo-scientific nature of Friedman’s “as if” methodology

1250-Want to Kill Your Economy? Have MBA Programs Churn out Takers Not Makers. Why has business education failed business?

1251-How to Suffocate Your Economy: Drown it in Massive Private Debt. = The whole world has too much of it. History suggests this won’t end well.

1252-Failed Economics: Tyranny of Mathematics and Enslaved by the Wrong Theory - The strange world of modern economics

1253-How ‘Competitiveness’ Became One of the Great Unquestioned Virtues of Modern Culture - How did mounting inequality succeed in proving culturally and politically attractive for as long as it did?

1254-How America Hates Socialism without Knowing Why - Why are socialist programs so unpopular today?

1255-How Do the Economic Elites Get the Idea That They ‘Deserve’ More? - The natural tendency toward discrimination and inequality

1256-Friedman and Hayek: How Neoliberal Revolutionaries Took over the World - Economic ideas change the world: Marx, Keynes, Hayek, Friedman, and Reagan

1257-How Economists Duped Us into Attacking Capitalism Instead of Parasitic Rent-Seeking - Time to resurrect an old idea: economic rent

1258-How Economists Killed Your Conscience: Cultivating conscience: how good laws make good people

1259-How Finance Behaves like a Parasite Toward the Economy - Economist Michael Hudson explains financial parasitism

1260-How Norway Dispels the Private vs Public Sector Myth - A strong state capable of building infrastructure is not enough. It must also be an inclusive state.

1261-How Perfect Markets Concentrate Wealth and Strangle Growth and Prosperity - The winners have us all playing a loser’s game

1262-How the Invisible Hand Was Corrupted by Laissez-Faire Economics: Smith’s invisible hand shows the limits of laissez-faire

1263-How the Profound Changes in Economics Make Left Versus Right Debates Irrelevant - Eric Beinhocker introduces the ‘new economics’ research programme

1264-Finance Is Not the Economy - An economy based increasingly on rent extraction by the few and debt buildup by the many is a feudal model

1265-How Capitalism Actually Generates More Inequality - Why extending markets or increasing competition won’t reduce inequality

1266-It Takes a Village of Media, Business, Policy, and Academic Experts to Maintain a Dangerous Financial System - A mix of distorted incentives, ignorance, confusion, and lack of accountability maintain a dangerous financial system

1267-deleted

1268-More Evidence That Learning Economics Makes You Selfish - The perils of teaching homo-economicus

1269-Oligarchy, Predators, and Parasites: What the New Feudalists Would Be Doing Now, if They Had Sense. - The smartest billionaires today want nothing to do with feudalist trends

1270-Orthodox Economics Is Broken. How Evolution, Ecology, and Collective Behavior Can Help Us Avoid Catastrophe: After the crash, can biologists fix economics?

1271-Orthodox Economics Is Empirically Invalid and Theoretically Flawed. Bring on Complexity Economics. - Both economists and policy makers had been lulled into a sense of false security

1272-Scientists Discover What Economists Haven’t Found: Humans - Working towards building a better theory of human nature

1273-Success Means Competing and Cooperating. Adam Smith as You’ve Never Seen Him Before - Free rider problems and twenty-first century public goods

1274-The Death of the Invisible Hand: Why the Narrow Pursuit of Self Interest Always Fails - Regulation comes naturally for small human groups but must be constructed for large human groups.

1275-deleted

1276-The Future of Economics Uses the Science of Real-Life Social Networks - Why the focus of policy needs to shift away from prediction and control

1277-The Invisible Hand is Dead! Long Live the Invisible Hand! - It’s time to rethink the foundational economic metaphor

1278-How the Darwinian Revolution Can Fix Economics - The inability to acknowledge our Darwinian nature leaves reformers in an awkward position

1279-The Left and Right Share a Common Enemy: Capitalists Who Corrupt Capitalism - The battle that should join progressives and free-market advocates

1280-The Milton Friedman Doctrine Is Wrong. Here’s How to Rethink the Corporation. - We won’t fix the problem until we address the nature of the corporation.

1281-The New Confessions of an Economic Hit Man - Human activities are driven by this process of altering human perceptions of reality

1282-The Only Woman to Win the Nobel Prize in Economics Also Debunked the Orthodoxy - The truth about the tragedy of the commons

1283-The Radical Remaking of Economics - To place economics on a solid footing, we need to build its intellectual foundations

1284-The Rise of Finance and The Fall of American Business - Companies don’t innovate when they can make more money from financialization

1285-The Trump Tax Cut versus Universal Basic Income - UBI solves the fundamental problem of modern capitalism, lack of demand

1286-The Woman Who Saved Economics from Disaster - Who is Elinor Ostrom?

1287-Traditional Economics Failed. Here’s a New Blueprint. Why true self-interest is mutual interest

1288-Trickle-Down Economics is Not True Capitalism - The rise of rentiers and the destruction of the middle class

1289-Why Trump-Sanders Phenomenon Signals an Oligarchy on the Brink of a Civilization-Threatening Collapse - Oligarchies win except when society enacts effective reforms

1290-Virtuous Rent: a Rudder That Can Transform Our Economy - How to create a bottom-up stimulus machine in which the people rather than the government do the spending.

1291-Was the Rise of Neoliberalism the Root Cause of Extreme Inequality? - Financial meltdown, environmental disaster and even the rise of Donald Trump – neoliberalism has played its part in them all.

1292-We Can’t Wait for an Invisible Hand. It’s Time to Rewrite the Rules of the Economy - To survive, the game of business needs to update its rules

1293-We’re Not as Selfish as Economists Think We Are. Here’s the Proof. - Why the pessimism about human nature is unwarrented

1294-What Happened When Homo Economicus Entered Business School - Neoclassical economic theory fosters a corporate culture that ignores business social responsibilities

1295-What Happens When You Believe in Ayn Rand and Modern Economic Theory - The reality of unfettered self-interest

1296-What is New Economic Thinking? - Three strands of heterodox economics that are leading the way

1297-What Is the Role of Morality in a Capitalist Economy? - Does the economic orthodoxy subscribe to the popular mantra “greed is good”?

1298-What Keeps the Rich and Powerful up at Night, and Why They’re Happy You Don’t Care - The powerful are pleased we find interest rates boring

1299-What Milton Friedman Got Wrong: Biologists Destroy Homo-Economicus - Homo-economicus vs biological adaptation

1300-What Role Should Money and Markets Play in a Good Society? - What do we do when the numbers look wrong, when the incentives they produce no longer make sense?

1301-Elites Want More Competition for Everyone Except Themselves - How anti-competition is driving income inequality

1302-Why Behavioral Economics Is Really Marketing Science - Ironically, the discipline of marketing was started by economists!

1303-Why Capitalism Creates Pointless Jobs - It’s as if someone were out there making up pointless jobs just for the sake of keeping us all working.

1304-Why Countries Never Thrive Without Activist Government Investment - History shows that economies have never grown through minimizing government involvement in the economy

1305-Why Economics Is Really Psychology on Steroids - Why economists are so often wrong

1306-Why Economists Don’t Know How to Think about Wealth (or Profits) - Until 2006, they quite literally weren’t playing with a full (accounting) deck. Most still aren’t.

1307-Why Economists Ignore Much of Rich People’s Income - Did you “earn” that money?

1308-Why the Deeply Held Ideas of the Nation’s Most Elite Economists Were Direct Causes of Extreme Inequality - As Americans turned away from government, so did the economics profession

1309-Why the Invisible Hand from Biology is Better Than the Invisible Hand from Economics - The notion that economics and business are all about competition and self-interest is alluring but wrong

1310-Why You Should Blame The Economics Discipline For Today’s Problems - The people responsible for national economic policy are economics professors

1311-Wrong all along: Neoliberal IMF admits neoliberalism fuels inequality and hurts growth - Top International Monetary Fund researchers concede austerity, privatization & deregulation can hurt more than help

1312-You Might Have Earned It, But Don’t Forget That Your Wealth Came from Society - To be human is to earn the right to share in the wealth generated by productive social institutions

1313-You’re witnessing the death of neoliberalism – from within

1314-Why Central Banks Should Offer Bank Accounts to Everyone - Central banking disrupted for the 21st century

1315-The US Protects Its Wealthy Professionals Financially While Throwing Workers to the Wolves

1316-deleted

1317-Bill Moyers on why the Trans-Pacific Partnership free trade agreement is death for democracy

1318-This video shows why we must stop TPP to keep fossil fuels in the ground

1319-TransCanada Files NAFTA Suit Demanding More Than $15 Billion for Keystone XL Rejection:

Fossil fuel company’s case demonstrates climate threats of TPP

1320-NAFTA at 20: One Million U.S. Jobs Lost, Higher Income Inequality

1321-New Data Show U.S. Trade Deficit Doubled, More Jobs Lost Under Obama Trade Deal That Was Template for the TPP

1322-U.S. offers $30 million to help Vietnam implement TPP

1323-Tomgram: William Hartung, How to Disappear Money, Pentagon-Style

1324-deleted

1325-What Happened to America’s Wealth? The Rich Hid It

1326-deleted

1327-Federal Bank Regulator Drops a Bombshell as Corporate Media Snoozes

1328-Mayor makes picks for Public Banking Task Force

1329-Public Banking & the Nonpartisan League: Is It Time for a Financial Revolution? (also has video)

1330-President Trump, listen to candidate Trump and keep Volcker Rule

1331-None of the world’s top industries would be profitable if they paid for the natural capital they use

1332-deleted

1333-Why Society’s Biggest Freeloaders Are at the Top. No, wealth isn’t created at the top. It is merely devoured there.

1334-Inside the new economic science of capitalism’s slow-burn energy collapse. And why the struggle for a new economic paradigm is about to get real

1335-How Bad Biology is Killing the Economy - The flaws in the competition-is-good-for-you logic

1336-Of money and morals - Moneylending has been taboo for most of human history. So how did usury stop being a sin and become respectable finance?

1337-How economics became a religion: Its moral code promises salvation, its high priests uphold their orthodoxy. But perhaps too many of its doctrines are taken on faith. By John Rapley

1338-How Economics Can Free Itself from Religious Dogmatism - Pure theory made economics more remote from day-to-day reality.

1339-The New Normal: Radical Inequality, Suffocating Debt, and Growing Job Uncertainty - Demand, secular stagnation and the vanishing middle-class.

1340-It Takes a Theory to Beat a Theory: The Adaptive Markets Hypothesis - We need a new narrative for how markets work. We now have enough pieces of the puzzle to start putting it all together.

1341-Memo to Jeff Bezos: Stack-Ranking is a Destructive Employee Practice - A survival of the fittest approach to hiring is a recipe for disaster.

1342-Seven Ways to Transform 21st-Century Economics — and Economists: Economics matters enormously for the future, but its fundamental ideas are centuries out of date.

1343-Should the rich be taxed more? A new paper shows unequivocally yes - Measuring tax paid against share of income earned and wealth owned reveals the US tax system has become less progressive – and in Britain it is a similar picture

1344-Stand-up Economist

1345-Want to Kill Your Economy? Have MBA Programs Churn out Takers Not Makers. Why has business education failed business?

1346-What Economics Models Really Say: Why is there such an enormous gulf between what economists know and what they say in public?

1347-Where Do Pro-Social Institutions Come From? How Do Countries ’Get to Denmark‘?

1348-deleted

1349-Robert Reich: On Labor, Tragically, Trump Was Right

1350-The Mega Rich Are Getting Mega Richer: A Former CEO Exposes the Corruption Behind Their Obscene Paychecks

1351-deleted

1352-New Economics Says Prosperity Doesn’t Trickle Down. It Comes from the Middle-Out - Properly understood, the middle class is the source of all growth and prosperity in a modern technological economy.

1353-deleted

1354-‘X’ Marks the Spot Where Inequality Took Root: Dig Here

1355-Insanely Concentrated Wealth Is Strangling Our Prosperity - Today’s mountains of wealth throttle the very engine of wealth creation itself.

1356-One Chart About Income Inequality That Will Make Your Blood Boil

1357-“If Poor People Knew How Rich Rich People Are, There Would Be Riots In The Streets”

1358-deleted

1359-Huge Human Inequality Study Hints Revolution Is In Store For U.S.

1360-Our Biggest Economic, Social, and Political Issue

1361-Wealth Inequality Is Higher Than Ever

1362-deleted

1363-People Don’t Actually Want Equality. They Want Fairness.

1364-NAFTA, The Cross-Border Disaster

1365-Problems of the Super-Rich - At what point will society intervene and strike back?

1366-Three Cheers for Financial Repression! Truth told, it’s more like financial liberation.

1367-Wealth Inequality Most Severe Since Ancient Egypt w/Prof. Richard Wolff (YouTube)

1368-The 1% grabbed 82% of all wealth created in 2017

1369-What Will Replace Outdated Left and Right Economic Thinking? The Commons Paradigm. (The commons is about self-organized social systems for managing shared wealth.)

1370-The Consequences of Adopting a Territorial Tax System: More Tax Avoidance, Less Investment in the U.S.

1371-1373 deleted

1374-It's time to get banks back to nation-building basics

1375-Public Banking Institute - (YouTube)

1376-Dem defectors help Senate Banking Committee strike deal to free banks from post-crisis oversight (The rule being gutted is barely seven years old. Family wealth still hasn't recovered from the crisis that prompted it.)

1377-deleted

1378-Public Banks and Credit Unions: What’s the Difference?

1379-deleted

1380-When Wall Street Owns Main Street — Literally (The rise of Wall Street landlords and the decline of homeownership.)

1381-All of the World’s Money and Markets in One Visualization

1382-Economist Josh Ryan-Collins: How Land Disappeared from Economic Theory (For classical economists, it was a factor of production, and the source of “rent.”)

1383-Economists Are Obsessed with “Job Creation.” How About Less Work? Increased automation has not reduced our workload. Why not? What if it did?

1384-How the Economics Profession Is Coming to Terms with Its Role in the Great Financial Crisis It’s time for mainstream economists to relax the defenses and open up a little.

1385-Five Reasons Why A National Balanced Budget Amendment Is Lunacy

1386-From inboxing to thought showers: how business bullshit took over Vacuous management-speak is easily laughed off – but is there a real cost to talking rubbish?

1387-How 10,000 Years of War Made Humans the Greatest Cooperators on Earth

1388-How America Hates Socialism without Knowing Why Why are socialist programs so unpopular today?

1389-How Ideologues Use Grade-School Economics to Distort Minimum Wage Debates - Introductory economics can be more misleading than it is helpful.

1390-How Norway Proves Laissez-faire Economics Is Not Just Wrong, It’s Toxic. A surprisingly simple solution to the conflict between self-interest and mutual benefits at all hierarchical levels

1391-How the Deadly Sin of Greed Was Rehabilitated as Self Interest (And why economists have come to have second thoughts about Homo economicus.)

1392-How the Profound Changes in Economics Make Left Versus Right Debates Irrelevant Eric Beinhocker introduces the ‘new economics’ research programme

1393-How to Construct a New Invisible Hand: A Conversation with Peter Barnes: A middle path between laissez faire and centralized planning.

1394-deleted

1395-If You Look Behind Neoliberal Economists, You’ll Discover the Rich: How Economic Theories Serve Big Business - The road to serfdom – sponsored by big business

1396-Martin Luther King Jr. Asked This Economist a Profound Question The price of inequality in society.

1397-Most ‘Wealth’ Isn’t the Result of Hard Work. It Has Been Accumulated by Being Idle and Unproductive. It’s time to call the housing crisis what it really is: the largest transfer of wealth in living memory.

1398-Parasites, Security, and Conflict: The Origins of Individualism and Collectivism - How does the balance of traditional community and civil society in a nation shape its economic and political atmosphere?

1399-Post-Capitalist Entrepreneurship: Basic Income, Blockchain Cities, and Local Currencies - Towards a new, local, but globally interconnected, digital, collaborative, urban economic model of shared prosperity.

1400-Ralph Nader: How CEO Stock Buybacks Parasitize the Economy Hyper enrichment of a handful of radical corporate state supremacists wasn’t what classical capitalism was supposed to be about.

1401-Stop Crying About the Size of Government. Start Caring About Who Controls It. The role of the state in the economy

1402-The Invisible Hook: How Pirate Society Proves Economic Self-Interest Wrong Pirate bands are radically democratic and egalitarian: Hayek and the evolutionary imperative.

1403-Tim O’Reilly: It’s Time to Rewrite the Rules of Our Economy - The economic game is enormously fun for far too few players, and an increasingly miserable experience for many others.

1404-Traditional Economics Failed. Here’s a New Blueprint. Why true self-interest is mutual interest

1405-Want to Kill Your Economy? Have MBA Programs Churn out Takers Not Makers. Why has business education failed business?

1406-Why New Economics Needs a New Invisible Hand - The New Invisible Hand suggests the existence of a middle path.

1407-Yes, Economics Has a Problem with Women - In the news recently we’ve heard about a study of sexist terms used to refer to women economists. But that’s only the tip of the iceberg.

1408-Book Review by Sondra Miller: In the Shadows of the American Century: The Rise and Decline of US Global Power

1409-Tomgram: William Hartung, The Pentagon Budget as Corporate Welfare for Weapons Makers

1410-Peter Turchin: Entering the Age of Instability after Trump - Why social instability and political violence is predicted to peak in the 2020s

1411-The American Dream has moved to Canada - By every measure, Canada is the true place to find ‘life, liberty and the pursuit of happiness.’ Let’s stop squandering our good fortune.

1412-1415 deleted

1416-They Go Together: Freedom, Prosperity, and Big Government - Countries with larger government sectors tend to have more personal freedom

1417-The Untold Story Of How Clinton's Budget Destroyed The American Economy

1418-Tomgram: Nomi Prins, You, Sir, Are No Alexander Hamilton

1419-1420 deleted

1421-Still scraping by while the bankers celebrate

1422-Cooking Books: DOD, HUD Defrauded Taxpayers Of $21 Trillion From 1998 To 2015

1423-deleted

1424-Making 9 Million Jobless "Vanish": How The Government Manipulates Unemployment Statistics

1425-deleted

1426-Capital’s Share of Income Is Way Higher than You Think - Almost half of households’ market income is received for just being wealthy: owning stuff.

1427-deleted

1428-How Do the Economic Elites Get the Idea That They ‘Deserve’ More? The natural tendency toward discrimination and inequality

1429-Cheating workers out of wages is easier than ever

1430-The Injustice and Crime of Extreme Inequality by Graham Peebles

1431-Tomgram: Stephanie Savell, How America's Wars Fund Inequality at Home

1432-The 1% grabbed 82% of all wealth created in 2017

1433-Military Spending Is Already Bankrupting America - Since 2001, the U.S. government has spent more than $1.8 trillion in the wars in Afghanistan and Iraq – that’s $8.3 million per hour.

1434-A New Way to Think About Solving the World’s Biggest Problems - How to build global cooperation. It’s SIMPOL!

1435-Economists Are Obsessed with “Job Creation.” How About Less Work? Increased automation has not reduced our workload. Why not? What if it did?

1436-How the Dominant Business Paradigm Turns Nice People into Psychopaths

1437-Markets Work Because of Dumb Luck and Inefficiency: The great mistake of market lovers

1438-The CEO of Sears Fails His Company by Believing in Ayn Rand and the Invisible Hand: Why promoting only individual level competition is disastrous.

1439-The Future of Organizational Management: Ecological Systems Thinking: Most of what passes for novel thinking in management now is merely the slapping of new labels onto old ideas.

1440-Trade wars and conflict of perceptions

1441-The Tragedy of the Commons: How Elinor Ostrom Solved One of Life’s Greatest Dilemmas The design principles for solving the tragedy of the commons can be applied to all groups

1442-How Norway Proves Laissez-faire Economics Is Not Just Wrong, It’s Toxic. A surprisingly simple solution to the conflict between self-interest and mutual benefits at all hierarchical levels

1443-U.S. Army fudged its accounts by trillions of dollars, auditor finds

1444-Tenth Anniversary Of Financial Collapse, Preparing For The Next Crash

1445-Tomgram: Alfred McCoy, Will China Be the Next Global Hegemon?

1446-Why Garbagemen Should Earn More Than Bankers How more and more people are making money without contributing anything of value

1447-deleted

1448-How America Hates Socialism without Knowing Why Why are socialist programs so unpopular today?

1449-How the ultra-rich could save the world, if they wanted to, in 22 pictures and charts

1450-Tomgram: Ben Freeman, The Saudi Lobby Juggernaut

1451-Mainstream Economics Has Become a Celebration of the Wealthy Rentier Class The One Percent have found a pressing need for the services of mainstream economists

1452-As Sears Plunges Toward Chapter 11, Lampert Stands To Win, Whatever Happens

1453-deleted

1454-Economic Man vs. Humanity: A Puppet Rap Battle Challenging outdated economics with rap and puppetry.

1455-Why Wealth Is Determined More by Power Than Productivity

1456-Ten Years After the Crash, We’ve Learned Nothing

1457-They Go Together: Freedom, Prosperity, and Big Government Countries with larger government sectors tend to have more personal freedom

1458-There are nowhere near as many public companies in the US as there should be

1459-Want to Kill Your Economy? Have MBA Programs Churn out Takers Not Makers. Why has business education failed business?

1460-No, Voting Democrat is Not “Harm Reduction”

1461-deleted

1462-How Bronze Age Rulers Simply Canceled Debts - Clean Slate proclamations were part of the community’s self-preservation.

1463-How Low-Paying Jobs and Weak Safety Nets Reduce Innovation and Productivity - Given the structure of our social safety net, automation tends to increase poverty and inequality rather than unemployment

1464-Millennials Didn’t Kill the Economy. The Economy Killed Millennials. - The American system has thrown them into debt, depressed their wages, kept them from buying homes—and then blamed them for everything.

1465-Tomgram: Nomi Prins, A World That Is the Property of the 1%

1466-An Historic Opportunity To Transform Trade When We Stop NAFTA II

1467-Complexity Economics Shows Us Why Laissez-Faire Economics Always Fails - Markets are a type of ecosystem that is complex, adaptive, and subject to the same evolutionary forces as nature.

1468-Neoliberalism’s Dark Path to Fascism, by Chris Hedges

1469-Economists Ignore One of Capitalism’s Biggest Problems. Banks Create Money out of Nothing. - Banks don’t intermediate loans, they originate loans

1470-Michael Hudson: The Vocabulary of Economic Deception

1471-US-Led Economic War, Not Socialism, Is Tearing Venezuela Apart Americans have been trained by decades of Cold War propaganda to look for any confirmation that ‘socialism means poverty.’ But in the case of Venezuela and other states not governed by the free market, this cliche simply doesn’t ring true.

1472-What Monopolies and King Kong Have in Common Small may not necessarily be beautiful, but there are scientific reasons that big is often bad.

1473-Top charts of 2018: Twelve charts that show how policy could reduce inequality, but is making it worse instead.

1474-It’s Time for New Economic Thinking Based on the Best Science Available, Not Ideology

1475-Why Wall Street Isn’t Useful for the Real Economy - It’s time to challenge the idea that Wall Street trading helps allocate society’s resources more efficiently

1476-Economist Says Most of Billionaire Wealth is Unearned.

1477-$1.5 trillion tax cut had no major impact on business spending

1478-Girls Rock Camp for Economists

1479-Meet the Economist Behind the One Percent’s Stealth Takeover of America

1480-Unemployment is low only because 'involuntary' part-time work is high

1481-Banks Funneled $1.9 Trillion Into Fossil Fuels Since Paris Agreement

1482-Europe and China in a Globalized World: The Geopolitical Impacts of Belt and Road

1483-It’s Simple! Concentrated Wealth and Inequality Crushes Economic Growth

1484-deleted

1485-'Eye-Popping': Analysis Shows Top 1% Gained $21 Trillion in Wealth Since 1989 While Bottom Half Lost $900 Billion - "The top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing."

1486-deleted

1487-Eight Reasons Why Inequality Ruins the Economy

1488-The GOP Tax Cut Trickle Down Has Arrived: Worker Bonuses Went Up One Penny in 2018

1489-Wealth, Income, and Power

1490-America’s Middle Class is Vanishing. Nearly Half of Workers Earn Less than $30,000

1491-deleted

1492-The Movement And The 2020 Elections

1493-Half of Americans Are Effectively Poor Now. What The? America’s Collapsing Because it’s the World’s First Poor Rich Country

1494-The Absurd Amount of Entitlements That Go to Rich People

1495-It just became easier for employers to dump retirees' pensions

1496-Debunking Deregulation: Bank Credit Guidance and Productive Investment - Deregulated banking in rich countries delivers more “investment” in speculative asset markets, not productive businesses.

1497-Does Capitalism Kill Cooperation?

1498-Don’t let the Nobel prize fool you. Economics is not a science

1499-Economics is a failing discipline doing great harm – so let's rethink it

1500-Rapid Money Supply Growth Does Not Cause Inflation - Neither do rapid growth in government debt, declining interest rates, or rapid Increases in a central bank’s balance sheet

1501-US Workers Are Paying High Taxes. But Without Any of the Benefits.

1502-The Rise of Neoliberalism: The Cause of Extreme Inequality?

1503-What Happens When You Believe in Ayn Rand and Modern Economic Theory - The reality of unfettered self-interest

1504-U.S. Trade Policy in North America, China, and Beyond

1505-'Eye-Popping': Analysis Shows Top 1% Gained $21 Trillion in Wealth Since 1989 While Bottom Half Lost $900 Billion - "The top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing."

1506-Usury: The Root Cause of all Problems on the Planet – Debt Slavery – Central Banks, Wars, Assassinations

1507-deleted

1508-Banking on Climate Change - Fossil Fuel Finance Report 2020

1509-Banks getting away with same crimes that crashed the economy in 2008

1510-Banks to give $10 billion bailout to Boeing, nothing to the families of the dead

1511-Big banks kill jobs while pocketing $32 billion from the GOP tax law

1512-Report: Six Banks Reaped $18 Billion Last Year from Trump Tax Cuts

1513-The Fed Protects Gamblers at the Expense of the Economy

1514-There’s Nothing Normal About the Fed Pumping Hundreds of Billions Weekly to Unnamed Banks on Wall Street: “Somebody’s Got a Problem”

1515-How is The Official Unemployment Rate 3.8% When 37% of the U.S is Unemployed?

1516-1518 deleted

1519-Fed Massively Tapered QE-4. Hasn’t Bought Any Junk Bonds, Was Just Jawboning - Helicopter Money for Wall Street & the Wealthy: $2.06 Trillion in 5 Weeks. Regular folks, forget it.

1520-Income inequality in America is at its highest level in more than 50 years

1521-New Report Confirms Just How Shitty US Workers Have It - Compared to other rich nations, the U.S. offers very little in the way of vacation time, parental leave, or unemployment benefits.

1522-deleted

1523-US Workers Are Paying High Taxes. But Without Any of the Benefits.

1524-Record Inequality and Corporate Profits Are What Media Call a ‘Strong Economy’

1525-U.S. income inequality at highest level in 50 years, economic gap growing in heartland Six states with the biggest yearly gains in inequality were primarily in the heartland — Alabama, Arkansas, Kansas, Nebraska, New Hampshire and New Mexico.

1526-deleted

1527-US income inequality jumps to highest level ever recorded

1528-Life expectancy in the US keeps going down, and a new study says America's worsening inequality could be to blame

1529-deleted

1530-Fossil Fuel Investments Cost California and Colorado Pension Funds Over $19 Billion, Report Finds

1531-Looting the Pension Funds - All across America, Wall Street is grabbing money meant for public workers

1532-Why retirement insecurity is the new American epidemic Under the current, broken system, the rich feather their own nests at everyone else’s expense.

1533-deleted

1534-Do 5 Million Americans Really Live in Third World Poverty?

1535-Are Economists Ideologically Biased? Economists like to think they’re immune from ideological influence. New research shows otherwise.

1536-If You Look Behind Neoliberal Economists, You’ll Discover the Rich: How Economic Theories Serve Big Business

1537-The Dirty Secret of Capitalism and a New Way Forward (TED Talk)

1538-The IMF Confirms That 'Trickle-Down' Economics Is, Indeed, a Joke

1539-Why Radical Libertarians Are the New Communists

1540-Elon Musk on the problem with corporate America: ‘Too many MBAs’

1541-Study of 50 Years of Tax Cuts For Rich Confirms 'Trickle Down' Theory Is an Absolute Sham - "Major tax cuts for the rich since the 1980s have increased income inequality, with all the problems that brings, without any offsetting gains in economic performance."

1542-11 Charts on Taxing the Wealthy and Corporations

1543-deleted

1544-Chris Hedges | How Bankers ROBBED and ENSLAVED America (YouTube)

1545-New research puts big banks’ sustainability claims in doubt

1546-World’s Central Banks Are Fueling The Climate Crisis

1547-Trickledown Economics - Honest Government Ads (YouTube)

1548-Commerzbank, Citi and Bank of America among banks issuing new deal for Russian coal giant SUEK just two months before COP26 - Russia's largest coal producer SUEK plans to expand its coal mining and has mandated nine banks for a bond issuance

1549-Pandora papers: biggest ever leak of offshore data exposes financial secrets of rich and powerful

1550-US Denounced as 'Biggest Peddler of Financial Secrecy' After Pandora Papers Leak

1551-1000 companies driving the world towards climate chaos

1552-Standard Chartered shareholders challenge bank to live up to net zero promise on fossil fuels

1553-A rant about economist pundits, and other things, but mostly economist pundits

1554-Climate groups call out banks lobbying for watered down Net Zero Commitments - Stop the Money Pipeline organizations respond to news that on behalf of a group of 12 banks, HSBC lobbied Mark Carney’s GFANZ to scrap mandatory science-based targets and delay a deadline.

1555-French bank La Banque Postale quits oil and gas, sets international precedent

1556-50 years of tax cuts for the rich failed to trickle down, economics study says

1557-SACE and Intesa Sanpaolo finance Arctic exploitation

1558-How Congress Made Sure the Rich Retire in Luxury—at Taxpayer Expense Savings plans pitched as helping the middle class have turned out to be a gold mine for the wealthy.

1559-The Truth About Inflation: Why Milton Friedman Was Wrong, Again - As inflation fears return, it’s worth reminding ourselves of the real-world facts.

1560-How There’s More to Economics Than the Science of Scarcity Economic life as experienced was increasingly pushed out of view to make the chosen methods work.

1561-How the U.K. Became One of the Poorest Countries in Western Europe - Britain chose finance over industry, austerity over investment, and a closed economy over openness to the world.

1562-Powell Lets Wall Street Pay Skyrocket While Targeting Workers’ Wages

1563-The Progenitor of Inequalities—Corporate Personhood vs. Human Beings The biggest prize of all for the uses of corporate-dominant inequality over real people is the control of the Congress, state legislatures, country boards, city councils, and elections, along with the selection of judges.

1564-Tax-Free Day For The Ultra-Wealthy

1565-

1274-1275-1276-1277-1278-1279-1280-ore here: http://blogs.mcclatchydc.com/washington/2013/09/obama-nominates-former-romney-advisor-to-post-.html#storylink=cpy

Obama nominates former Romney advisor to post

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Obama nominates former Romney advisor to pos
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commented 2014-10-07 12:00:30 -0700 · Flag

Robert Bostick below has a valid criticism of another article. I agree in principle, but I did not make those arguments.

commented 2014-10-06 09:40:06 -0700 · Flag

The author uses outdated premises as the foundation for his critique of Democratic and Republican policies. How different his criticism would be had he understood modern economics. His false premise is, the Federal Government faces insolvency if it does not raise revenue. Nothing could be further from the truth.

Since 1971 the U.S. has been monetarily sovereign, issuing a non-convertible, fiat currency with a flexible exchange rate and all of its debt owed in its own currency - the dollar.

That’s what happened when Nixon abandoned the international gold standard. America became the monopoly issuer of its own currency and could issue as much of it as it wanted constrained only by inflation, and the lack of a Congressional appropriation, not the lack of revenue.

The author is not alone in his unawareness of the above facts. Joining him are scores of academics, pundits, MSM editors and their casts of feature and technical, economic writers, 99.9% of elected officials and most American citizens.

A careful reading of the definition of monetary sovereignty would then force the author to take an entirely different tack in critiquing U.S. economic/fiscal/monetary policy decision makers.

Moreover, when the Congress appropriates deficit spending what it is doing, according to Accounting 101, is providing net financial assets to the private sector/non-public sector. The simple rule is that where ever there’s a deficit there’s a surplus. All of the deficit hawks are loath to admit that without deficit spending the private sector source for net financial assets dries up and the private sector goes into deficit, leading to low and eventually, no new investment, production, hiring, sales.

One need only analyse the history of deficits shown in a sectoral financial balances graph. http://goo.gl/CGmF6f

The indisputable fact is that the Federal government and none of its programs can ever, involuntarily, go broke or face insolvency. Congress must appropriate for the government to spend its fiat currency.

Because Congress is ignorant of its own role as the score keeper and master of the purse strings our nation will suffer unspeakable social and economic dysfunction. As long as Congress, wrongly, believes it must tax and borrow to spend America is destined for the bottom of ladder not the road to Camelot.

When Congress and the any Administration acknowledge the fact that tax policy only manages; aggregate demand, income distribution and market incentives and disincentives, then and only then will American have rational fiscal policy decisions. As for borrowing, the U.S. NEVER BORROWS. Treasury and Fed transactions simply manage the term structure of interest rates. When Treasury bonds (securities) are traded there is no accompanying loan agreement. Funds are transferred fro checking accounts to savings accounts, that is not borrowing.

All the funds to pay taxes and buy Treasury securities come from government spending. No government spending no threat of inflation, therefore, no need for tax payments or Treasury purchases.

Wake up America the rich are creaming you of your surpluses and you know you haven’t had a real pay increase in forty years.

With inflation below 2%, real unemployment at 23% and surplus capacity at 8% your Federal government should be deficit spending to achieve full employment.

But, because you, wrongly, believe the government can go broke you will wallow in your cognitive dissonance until you go broke. You can’t avoid it because, unlike the Federal government, you cannot create your own sovereign currency.