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October 27, 2016
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Tag: Economy

‘On Contact’: Chris Hedges and David Cay Johnston Examine Our ‘Rigged’ Tax System

The journalists discuss how the superrich—including Republican presidential nominee Donald Trump—take advantage of America’s tax laws.

Posted on Oct 18, 2016 WATCH & LISTEN


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The Empire Strikes Back

U.S. imperialism and vicious corporate exploitation have returned to Latin America, and the region’s populist governments and movements are broken or in disarray. The defeat of the Latin American left is our defeat.

Posted on Oct 2, 2016 READ MORE

Why We’ll Definitely Need a Universal Basic Income (Video)

As new technologies replace work, the question for the future is how best to provide economic security for all.

Posted on Oct 2, 2016 READ MORE

How the Override of the Veto of the 9/11 Lawsuit Bill Could Come Back to Bite Americans

President Obama vetoed the Justice Against Sponsors of Terrorism Act, but Congress has for the first time in his presidency over-ridden his veto. This is a disastrous law with potentially ruinous effects on the U.S. economy and U.S. policy.

Posted on Sep 29, 2016 READ MORE

Cast Your Vote: Which Corporation Most Deserves a Boycott?

Truthdig readers zeroed in on the negative effects of capitalism this week, as demonstrations against racial inequality flared up across the United States. We want to hear from you: Which corporation do you want to target for contributing to neoliberal disasters?

Posted on Sep 27, 2016 READ MORE

It’s Time for Congress to Stop Hollering at CEOs and Actually Take Action

Instead of setting up further rounds of CEO perp walks for the TV cameras, Congress should give the Justice Department and regulatory agencies enough funding to do their jobs.

Posted on Sep 26, 2016 READ MORE

Robert Scheer and Journalist David Cay Johnston Discuss the Duplicity of Trump

Donald Trump’s success is not an accident. It’s the result of a corrupt capitalist system. The author of “The Making of Donald Trump” explains in a conversation with the Truthdig editor in chief.

Posted on Sep 23, 2016 WATCH & LISTEN

New Tales of Wells Fargo

Posted on Sep 23, 2016 ENLARGE

Shaun King Calls for Nationwide Economic Boycott to Protest Racial Inequality

The prominent activist and journalist cites the Montgomery bus boycott as an example the nation needs to follow.

Posted on Sep 23, 2016 READ MORE

Criminal Directions

Posted on Sep 22, 2016 ENLARGE

Wage Gap Between Black and White Americans Is at a 40-Year High

On average, whites make 26.7 percent more than blacks, earning $25.22 an hour, compared with $18.49 for blacks.

Posted on Sep 20, 2016 READ MORE

The Courtiers and the Tyrants

We must not confuse the political elites who function as courtiers to corporate power with the tyrannical leaders who actually drive corporatism. Our real enemy, lurking behind the curtain, is usually faceless and anonymous.

Posted on Sep 18, 2016 READ MORE

Trump’s Yuge Bamboozle

Donald Trump poses as a working-class populist, but his economic plan for the U.S. would be a gusher for the wealthy—and almost nothing would trickle down to anyone else.

Posted on Sep 18, 2016 READ MORE

Why Corporate Tax Deserters Shouldn’t Get the Benefits of Being American Corporations (Video)

By Robert Reich /

Apple is only the latest big global American corporation to use foreign tax shelters to avoiding paying its fair share of U.S. taxes. It’s just another form of corporate desertion.

Posted on Sep 14, 2016 WATCH & LISTEN

Dummy Accounts

Posted on Sep 10, 2016 ENLARGE

Wages Took a Rare Decline in First Quarter

January through March, the average weekly wage in the U.S. fell 0.5 percent from last year—just the seventh such annual decline dating back to 1978, according to the U.S. Labor Department.

Posted on Sep 8, 2016 READ MORE

Why Are Private Equity Titans Giving All Their Campaign Money to Hillary Clinton?

The Democratic candidate has gone even further than Donald Trump in promising to kill a tax break that benefits some of the wealthiest people in finance, and yet she is receiving all of the private equity industry’s support.

Posted on Sep 8, 2016 READ MORE

One Big Bill Clinton Campaign Promise That a President Hillary Should Finally Keep

If elected, Hillary Clinton should fulfill a pledge of her husband’s that fell through when he got to the White House: Bar companies from taking tax deductions on executive pay above $1 million.

Posted on Sep 8, 2016 READ MORE

Working-Class Struggles in Southern California Symbolize Blue-Collar Blues Across America

Far from the noise of the Donald Trump-Hillary Clinton brawl are painful examples of what this presidential campaign should be about: people struggling to raise their families out of poverty, send their kids to school and survive day to day.

Posted on Sep 7, 2016 READ MORE

A Message to Working People From a Former Labor Secretary

Your typical wage is below what it was in the late 1970s, in terms of what it can buy. Yet the American economy is twice as large as it was back then.

Posted on Sep 6, 2016 READ MORE

The Disconnect Between Economists and the Public in Assessing Free Trade (Video)

By Robert Reich /

Economists still think free trade benefits most Americans, but, according to polls, only 35 percent of voters agree. Why this discrepancy?

Posted on Sep 5, 2016 WATCH & LISTEN

Standing Up to Apple

For years, Washington lawmakers on both sides of the aisle have attacked big corporations for avoiding taxes by parking their profits overseas. Last week, the European Union did something about it.

Posted on Sep 4, 2016 READ MORE

The Decline in Union Membership Is Hurting All of Us

A new report says that “rebuilding our system of collective bargaining is an important tool available for fueling wage growth and ending the era of persistent wage stagnation.”

Posted on Aug 30, 2016 READ MORE

Venturing Into ‘the Capitalist Labyrinth’  (Video)

In this week’s edition of “On Contact,” Truthdig columnist Chris Hedges and author Rob Urie explore how our economic system is responsible for nuclear weaponry, climate change and imperialism.

Posted on Aug 23, 2016 WATCH & LISTEN

‘On Contact’: Chris Hedges and Professor Eddie Glaude Discuss ‘The Great Black Depression’ (Video)

“From housing to jobs to poverty levels, black America is struggling,” the Princeton educator tells the Truthdig columnist. “In so many ways since 2008, our communities have been in ruins.”

Posted on Aug 16, 2016 WATCH & LISTEN

Why a Tax on Wall Street Trades Is a Great Idea (Video)

By Robert Reich /

One of Bernie Sanders’ most important proposals didn’t receive enough attention and should become law.

Posted on Aug 14, 2016 WATCH & LISTEN

Trump’s Economic Plan

Posted on Aug 11, 2016 ENLARGE

How Universal Basic Income Could Help Build Better, Closer-Knit Communities

An advocate of the idea cites numerous cases around the world in which money allotted to members of communities with no strings attached led to important gains in social cohesion.

Posted on Aug 4, 2016 READ MORE

Pope Francis: Capitalism Is ‘Terrorism Against All of Humanity’

The pontiff argues that the modern economy’s worship of the “god of money” leads to disenfranchisement and extremism.

Posted on Aug 2, 2016 READ MORE

‘Equity’ Film Review: Women Bare Their Teeth in Wall Street’s Shark Tank

This female-driven thriller, starring Anna Gunn of “Breaking Bad” fame, is a study of a cutthroat species in its natural habitat and plays on expectations and conventions with some surprising twists.

Posted on Jul 28, 2016 READ MORE

Robert Scheer Questions Lawrence Summers and Michael Blumenthal on the 2008 Financial Crash (Video)

On Day 3 of the Democratic National Convention, Truthdig’s editor in chief confronted the two former Treasury secretaries about the role financial deregulation played in the Wall Street crash.

Posted on Jul 27, 2016 WATCH & LISTEN

Top Five Green Energy Good News Stories Today

Solar power is poised to grow sixfold by 2030 and could constitute between 9 percent and 13 percent of world electricity production by then.

Posted on Jul 4, 2016 READ MORE

Puerto Rico in Crisis as Obama Authorizes Federal Financial Control (Multimedia)

Puerto Ricans took to the streets Thursday to protest what they see as a return to colonialist policy after President Obama signed an emergency measure to put the island’s finances under the oversight of the federal government.

Posted on Jul 1, 2016 WATCH & LISTEN

7 in 10 Americans Believe the Economy Is Rigged

Most feel they have less financial security than their parents had, a new poll reveals. And they fear the economic situation will only get worse.

Posted on Jun 28, 2016 READ MORE

I Have a Big Idea for Hillary

Hillary Clinton needs a big idea that gives her presidential candidacy a purpose and rationale—and, if she’s elected, a mandate to get something hugely important done.

Posted on Jun 20, 2016 READ MORE

Fed Leading the Banks

Posted on Jun 17, 2016 ENLARGE

John Oliver, Outraged Over His 401(k), Tells Us All We Need to Know About Retirement Plans (Video)

Financial advisers chose the wrong late-night show host to try to bamboozle with complicated retirement plans full of hidden fees.

Posted on Jun 13, 2016 WATCH & LISTEN

Bill Clinton’s Legacy of Denial

Endorsing the Republican agenda of financial industry deregulation, reversing New Deal safeguards, President Clinton caused more damage to the American economy in the long run than any president since Herbert Hoover.

Posted on Jun 5, 2016 READ MORE

Imagine What President Donald Trump and Attorney General Chris Christie Might Do to Marijuana Laws

A new administration hostile to marijuana and a memo from the Justice Department could crash the pot movement.

Posted on Jun 1, 2016 READ MORE

Armed with Policy Solutions and Populist Rage, Campaign Vows to ‘Take on Wall Street’

“We are going to make this an issue in congressional races. No one will be able to run from this.”

Posted on May 24, 2016 READ MORE

Will Hillary Clinton’s Plan to Have Her Husband Fix the Economy Hurt Her at the Polls?

The intense scrutiny of Bill Clinton’s economic record may not give her the boost she is expecting.

Posted on May 21, 2016 READ MORE

Student Debt

Posted on May 21, 2016 ENLARGE

American CEOs Make 335 Times More Than Their Workers

And Verizon’s CEO makes even more than that.

Posted on May 19, 2016 READ MORE

Great Recession Continues to Loom Over 2016 Graduates, Even as Corporate Profits Rise

The New York Times editorial board released a depressing report recently on the bleak job prospects faced by high school students graduating this year, a situation it traces to consistent political failures in recent times.

Posted on May 15, 2016 READ MORE

Surprise! Despite Syria-Iraq Turmoil, Major Mideast Economies Are Growing at 3 to 4 percent (Video)

When you hear only bad news from a place, you form a negative opinion of it.

Posted on May 15, 2016 READ MORE

Middle- and Lower-Income U.S. Households Losing Ground, Report Says

Poorer households saw their income drop from a median of $26,373 in 1999 to $23,811 in 2014, and middle-class incomes fell too, according to new research.

Posted on May 12, 2016 READ MORE

The Smartest Places on Earth

“The sharing of brainpower was taking place in very unlikely places that were becoming the hotspots of innovation,” write the authors of a new book. These unlikely places—the rust belts of America—are the cities and regions that were crushed by the previous round of competitiveness.

Posted on May 6, 2016 READ MORE

Greece Bailout Was for EU Banks: Study Confirms That Rescue Loans Didn’t Serve the Greek People

“The only reason why they effected this so-called bailout of Greece was to save their own banks and to present this as solidarity with Greece.”

Posted on May 5, 2016 READ MORE

President Obama Calls for Support of TPP; Sanders Calls TPP a ‘Disaster’

Amid the recent hubbub about the TTIP (Transatlantic Trade and Investment Partnership), it’s easy to lose sight of that other international trade deal with two Ts and a P in its abbreviation that’s caused a worldwide backlash in recent months.

Posted on May 4, 2016 READ MORE

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