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November 25, 2014
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Tag: Economy


AP/Arni Torfason

Iceland Sends Four Bank Bosses to the Slammer

The onetime CEO of Iceland’s Kaupthing Bank, one Hreidar Mar Sigurdsson, is going to jail for five and a half years for his part in his firm’s downfall—which also helped his country’s economy bottom out in 2008. He’ll be in good company.

Posted on Dec 12, 2013 READ MORE



AP/Mel Evans

Camden, N.J.: A Catastrophic Cautionary Tale

Camden, N.J. is a stone’s throw from tourist-friendly Philadelphia, Rolling Stone’s Matt Taibbi notes, but it’s nothing like its neighbor city. It’s one of the starkest examples of communities in crisis across the nation—an “un-Fantasy island of extreme poverty and violence” where everyone is scarred and few are employed.

Posted on Dec 12, 2013 READ MORE


The Inadequate, Necessary Budget Deal

It’s a sign of how far to the right House Republicans have dragged governance in our country that the very conservative budget deal reached by Rep. Paul Ryan and Sen. Patty Murray will need many liberal and Democratic votes to pass.

Posted on Dec 11, 2013 READ MORE



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Raw Deal

About the only good thing that can be said about the budget deal just patched together by House Republican budget chair Paul Ryan and Senate Democratic budget chair Patty Murray is that the right-wing Heritage Foundation and the Koch brothers’ Americans for Prosperity oppose it.

Posted on Dec 11, 2013 READ MORE



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Your Boss Is a Dick (A Glossary of Labor Terms, Translated)

To help out my friends in organized labor, here is a glossary of key union terms, translated for everyone else.

Posted on Dec 11, 2013 READ MORE



Juli Hansen / Shutterstock.com

How History Will Remember Obama (Hint: Not Well)

The man elected to end war and turn the page on George W. Bush instead expanded American militarism and persecution of dissidents.

Posted on Dec 10, 2013 READ MORE



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The Return of the Working Class Hero

For more than three decades, working class Americans receded as cultural heroes, replaced in the popular imagination by swashbuckling entrepreneurs, brilliant innovators, and shrewd investors who make millions at the touch of a computer key.

Posted on Dec 9, 2013 READ MORE



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Raise the Minimum Wage

Now that President Obama has outlined the crisis in economic mobility, he should begin by pressing his demand that Congress raise the minimum wage—and not by a little, but a lot.

Posted on Dec 6, 2013 READ MORE



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Eating Like There’s No Tomorrow

Right around now, many Americans are picking at the last few chunks of leftover turkey.

Posted on Dec 6, 2013 READ MORE


Obamacare Prediction

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Posted on Dec 6, 2013 READ MORE


The Economics of Wage Slavery

This week on Truthdig Radio in association with KPFK: Raising the minimum wage, how Oprah Winfrey enabled a self-help disaster, the media vexxing of Hillary Clinton, and we look for the worst judge in America.

Posted on Dec 5, 2013 READ MORE


The Economics of Wage Slavery

This week on Truthdig Radio in association with KPFK: Raising the minimum wage, how Oprah Winfrey enabled a self-help disaster, the media vexxing of Hillary Clinton, and we look for the worst judge in America.

Posted on Dec 5, 2013 READ MORE


Obamacare Explodes

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Posted on Dec 5, 2013 READ MORE



Poverty Wages in the Land Of Plenty

The holiday season is upon us. Sadly, the big retailers are Scrooges when it comes to paying their staffs.

Posted on Dec 4, 2013 READ MORE


Wall Street Santa

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Posted on Dec 3, 2013 READ MORE



AP/Max Rossi, Pool

Welcome Back, Jesus

The pope’s appraisal of modern capitalism is the obvious truth, whether divinely inspired or not.

Posted on Dec 3, 2013 READ MORE



401(K) 2013 (CC BY-SA 2.0)

Let’s Face It, Believing Rich People Create Sustainable Jobs Is Delusional

Henry Blodget, CEO of news website Business Insider, clears up the widespread myth that entrepreneurs such as himself are responsible for creating jobs for the rest of America. The often-told lie is simply a way to justify the immense inequality symptomatic of our dire economic climate.

Posted on Nov 30, 2013 READ MORE


The Radical

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Posted on Nov 30, 2013 READ MORE



Philip Chidell / Shutterstock.com

A Pope’s Pointed Message

The full implementation of Obamacare matters. Raising the minimum wage matters. Reforming a financial system “which rules rather than serves,” Pope Francis noted, matters.

Posted on Nov 29, 2013 READ MORE


Bitcoin Not Accepted

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Posted on Nov 29, 2013 READ MORE



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Why Pundits, Journalists and Bloggers Don’t Get Hard Times

We’ve read over and over that the great recession is behind us, although evidence of human suffering abounds. This is not a new phenomenon, and it was ably described a lifetime ago by Eugene V. Debs.

Posted on Nov 27, 2013 READ MORE



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The Empire Strikes Back

A whole new get-rich-quick scheme is brewing beneath the fanfare of the nation’s hyped housing recovery.

Posted on Nov 26, 2013 READ MORE


GOP Distraction

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Posted on Nov 26, 2013 READ MORE


Declining Social Security Benefits

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Posted on Nov 26, 2013 READ MORE



drp (CC BY-NC-ND 2.0)

Nearly 9 of 10 Low-Wage Workers Fear They Can’t Make Ends Meet

A new poll finds that workers on the bottom rungs of the economic ladder face job-loss anxiety levels not seen since the 1970s. The vast majority also say they fear their family incomes can’t keep them afloat financially. This is the American economic reality for those not riding the Dow Jones average.

Posted on Nov 26, 2013 READ MORE



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The Benefits of a Deal

The U.S.-led deal to freeze Iran’s nuclear program is a great accomplishment on many levels. Begin with the most basic: What if the talks in Geneva had failed?

Posted on Nov 25, 2013 READ MORE



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Why Iran Deal Is Good for the Economy

As Reuters reports, the wizards of finance expect the landmark nuclear deal between the U.S. and Iran to boost global growth and make us all feel a little bit richer. Here’s why.

Posted on Nov 25, 2013 READ MORE



The 90 Companies Most Responsible for Climate Change

Researcher Richard Heede says the people to blame for our planet’s environmental demise “could all fit on a Greyhound bus or two”; Jeremy Scahill proves time and time again he is not the White House’s favorite journalist; meanwhile, exposure to the arts does have a positive effect on intelligence after all. These discoveries and more after the jump.

Posted on Nov 25, 2013 READ MORE


Tea Party Idiots

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Posted on Nov 24, 2013 READ MORE


Endangered Elephants

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Posted on Nov 24, 2013 READ MORE



U.S. Navy/MC3 Paul Kelly

Sequestration: Getting Our Priorities Straight

Lobbyists for military contractors are swarming all over Capitol Hill these days in a frenzy to stave off automatic budget cuts as part of the second wave of sequestration, due in January.

Posted on Nov 20, 2013 READ MORE



Corporate Lobbyists Flood Warsaw Climate Talks

This year’s climate meeting has a new feature: corporate sponsorship.

Posted on Nov 20, 2013 READ MORE


Robert Reich on America’s Income Inequality

The Dow Jones is hitting record highs, giving the top 5 percent of the U.S. (who hold more than 80 percent of stocks) another huge boost. And although Stephen Colbert doesn’t think the wealth divide is a big deal, former Truthdigger of the Week Robert Reich begs to differ.

Posted on Nov 20, 2013 READ MORE



Europe Weighs Capping CEO Income as Wall Street Continues to Run Amok

The Swiss are considering limiting the compensation of chief executive officers to a 12:1 ratio, but Americans can’t even get banksters to reveal the comparison of their pay to the average salary; Germany wants to impose a financial transactions tax; meanwhile, in London the per-capita income is 90 percent higher than in the rest of Britain. These discoveries and more after the jump.

Posted on Nov 19, 2013 READ MORE


Gerrymandering

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Posted on Nov 19, 2013 READ MORE


Obamacare Is a Heavy Load for Democrats

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Posted on Nov 18, 2013 READ MORE



OUR Walmart

Wal-Mart Asks Employees to Feed One Another

Known for its poor treatment of workers and low wages, the retail giant is under fire in Canton, Ohio, where its store apparently set up a food drive for needy employees.

Posted on Nov 18, 2013 READ MORE


Tea Party Rules

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Posted on Nov 18, 2013 READ MORE



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Trans-Pacific Partnership and the Freaky New World Order of International Treaties

WikiLeaks blew open the secret negotiations behind the Trans-Pacific Partnership Agreement on Wednesday, releasing draft text that looks good for big corporations and bad for ordinary people.

Posted on Nov 13, 2013 READ MORE


GOP Blessings

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Posted on Nov 13, 2013 READ MORE



AP/Nick Ut

Can L.A.’s New Mayor Succeed Where Other Charming Liberals Failed?

The difficult task of ending income and social inequality in Los Angeles is now in the hands of a liberal new mayor, Eric Garcetti, a compromiser rather than a crusader.

Posted on Nov 12, 2013 READ MORE



The Economics of Middle-Class Identity

As the recession forces many of us to frequently change jobs and work in servile positions, defining whom we are becomes increasingly difficult; Karl Marx is considered by some to be the world’s most influential scholar; meanwhile, animals can speak, scientists find, but they don’t say much beyond the basics. These discoveries and more after the jump.

Posted on Nov 12, 2013 READ MORE


Our Good Old Todays

Years from now, when someday the nation is mired in another recession or bogged down in another ill-conceived war, these may be remembered as the good old days.

Posted on Nov 11, 2013 READ MORE



landmarkmedia / Shutterstock.com

David Cameron’s Surprise: Permanent Austerity

Back in 2010, the British PM began slashing the country’s budget on the promise that temporary cuts were necessary to reduce the deficit and right the economy. Another recession soon followed.

Posted on Nov 11, 2013 READ MORE


The Liar’s Club

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Posted on Nov 10, 2013 READ MORE


Gobbling Obamacare

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Posted on Nov 9, 2013 READ MORE


Disinformation

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Posted on Nov 8, 2013 READ MORE



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The Connection Between Poverty and Education

Google the phrase “education crisis” and you’ll be hit with a glut of articles, blog posts and think tank reports claiming the entire American school system is facing an emergency.

Posted on Nov 8, 2013 READ MORE


Running With the Tea Party

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Posted on Nov 6, 2013 READ MORE



Cellphones Are Interfering With Your Brainwaves

Scientists have discovered that radiation from cellphones has affected the way our brains have evolved to function; newsrooms all over the country are downsizing and becoming digital in the process; meanwhile, Germany denies Edward Snowden asylum yet again, but this time wants to find a way to question him. These discoveries and more after the jump.

Posted on Nov 6, 2013 READ MORE


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