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November 24, 2014
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Tag: Great Recession


Drowning in Profits

A story of a private equity firm, a missing pool fence, and the death of a two-year-old child raises troubling questions about how, as a nation, we define security in housing and why, in the midst of what’s regularly termed a “recovery,” many neighborhoods may actually be growing increasingly vulnerable.

Posted on Jun 23, 2014 READ MORE



Shutterstock

How to Shrink Inequality

Some inequality of income and wealth is inevitable, if not necessary.

Posted on May 14, 2014 READ MORE



Clinton’s Advisory Team Pressed for Wall Street Deregulation, Documents Show

New documents reveal the back story of how Wall Street deregulation was pushed by the advisers of President Clinton.

Posted on Apr 21, 2014 READ MORE



Prognosticator: Karl Marx Foresaw 2014

The 19th-century economic theorist “accurately predicted several aspects of contemporary capitalism, from the Great Recession to the iPhone 5S in your pocket,” Sean McElwee writes at Rolling Stone.

Posted on Feb 1, 2014 READ MORE


Bankers Brought to Justice

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Posted on Jan 6, 2014 READ MORE



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



khawkins04 (CC BY 2.0)

Unemployment IS Down: When Good News Really Isn’t

Those who were heartened by the recent drop in the unemployment rate have less to cheer about than it seems as the gap between those with jobs, and those who have given up, yawns widely. The percentage of working-age Americans with jobs is still painfully low—and not likely to change soon as corporations hoard cash.

Posted on Dec 8, 2013 READ MORE



Center on Budget and Policy Priorities

Another Win for the Koch Brothers: Underfunded Public Schools

The American working and middle classes aren’t the only sectors still suffering the effects of the Great Recession. Public schools have yet to regain their economic footing, either. That fits in perfectly with the dreams the Koch brothers-backed American Legislative Exchange Council has of dismantling the system, and democracy itself.

Posted on Sep 20, 2013 READ MORE



mtume_soul (CC BY-SA 2.0)

Abracadabra: You’re a Part-Timer

The truly mysterious aspect of this “recovery” is that 21% of the jobs lost during the Great Recession were low wage, meaning they paid $13.83 an hour or less, but 58% of the jobs regained fall into that category. The lost jobs with better wages, benefits and long-term security have completely vanished.

Posted on Aug 22, 2013 READ MORE



kevin dooley (CC BY 2.0)

The Investment Crisis Midwifing the Ongoing Recession

Investment in what experts call “real inputs”—structures and machines that enable and boost future output and productivity—is one way an economy grows over time. No wonder, then, that an economic crisis occurred just decades after the share of national income going to investment began declining during the start of the neoliberal era, around 1980, UMass-Amherst professor Gerald Friedman writes in Dollars & Sense.

Posted on Aug 9, 2013 READ MORE



visualpanic (CC BY 2.0)

How the 40-Year ‘Long Recession’ Led to the Great Recession

If you had to date the Great Recession, you might say it started in September 2008 when Lehman Brothers vaporized over a weekend and a massive mortgage-based Ponzi scheme began to tumble. By 2008, however, the majority of American workers had already endured a 40-year decline in wages, security and hope—a Long Recession of their own.

Posted on Apr 10, 2013 READ MORE



Don Hankins (CC BY 2.0)

Shortchanged Workers Fuel the Missing Recovery

“Today the stock market is high not from profits from expanding sales revenues, but from labor cost savings,” former Reagan Treasury Secretary Paul Craig Roberts writes in CounterPunch.

Posted on Mar 6, 2013 READ MORE



Super Size Your Paycheck

A union in New Zealand got fast food chains such as McDonald’s and Starbucks to raise their workers’ wages by 50 percent; Palestinian books don’t indoctrinate children against Jews after all; and perhaps, rather than fear Massive Online Open Courses, we should embrace this opportunity for cheap widespread online education. These discoveries and more after the jump.

Posted on Feb 11, 2013 READ MORE



Randy Son of Robert (CC BY 2.0)

The Anti-Economist: Misleading American History

By ignoring the historic role government played in enabling economic growth, the prevailing myths about how the U.S. became prosperous allow lawmakers, officials and lobbyists to craft policies that prevent the majority of Americans from taking their rightful share of the national wealth, Jeff Madrick writes in Harper’s Magazine.

Posted on Jan 29, 2013 READ MORE



White House/Pete Souza

Why Obama Deserves a Second Term

My family survived the Great Recession because of the policies of the Obama administration. I suspect we were not alone in benefiting from one or another of the various relief programs.

Posted on Oct 15, 2012 READ MORE



Mike Licht, NotionsCapital.com (CC BY 2.0)

Update: 25 People at the Heart of the Meltdown

At the height of the financial crisis, The Guardian identified 25 bankers, economists, politicians and financial officials who helped bring about the worst economic crisis since the Great Depression. What are they up to now?

Posted on Aug 7, 2012 READ MORE



Zuade Kaufman/Truthdig

Robert Scheer Wins Prestigious Sigma Delta Chi Award

Truthdig’s editor-in-chief has taken top honors in the Online Column Writing (Independent) category.

Posted on Jul 19, 2012 READ MORE



MrGuilt (CC BY 2.0)

Who’s Not Putting Americans Back to Work

With the encouragement of Mitt Romney, House Republicans are doing everything they can to keep Americans from getting work, just to defeat President Obama.

Posted on Jun 14, 2012 READ MORE



pasukaru76 (CC BY 2.0)

Preying on the Poor

The poor provide a juicy target for anyone depraved enough to make a business of stealing from them. The trick is to rob them in ways that are systematic, impersonal and almost impossible to trace to individual perpetrators.

Posted on May 17, 2012 READ MORE



nosha (CC BY-SA 2.0)

Plutonomy and the Precariat: On the History of the U.S. Economy in Decline

After the first few years of the Great Depression there was a sense that “we’re gonna get out of it.” It’s quite different now. For many people in the United States, there’s a pervasive sense of hopelessness, sometimes despair. I think it’s quite new in American history. And it has an objective basis.

Posted on May 8, 2012 READ MORE



AP / Erich Schlegel

Truthdiggers of the Week: Indiana University Poverty Researchers

Here’s a sobering dose of reality: Poverty in America has risen to the 27 percent mark in the last half-decade and, perhaps worse, the prospects for our nation’s poorest won’t necessarily get better as the economy picks up. It’s not news many want to hear, but we’re glad a group of researchers at Indiana University were gutsy enough to release it.

Posted on Jan 13, 2012 READ MORE



Flickr / wallyg

Wall Street’s Not-So-Little Secret

In 2008, the 10 biggest U.S. banks and brokerage firms took $829 billion in emergency loans from the U.S. Treasury and the Federal Reserve. Until now, who got what had been a secret. ... (more)

Posted on Aug 28, 2011 READ MORE



AP / Mark Lennihan

Steve Fraser on the Crisis of Capitalism

Does the prospect of deepening economic meltdown and political disarray raise the specter of a social upheaval and, perhaps, the collapse of capitalism, the likes of which we haven’t seen since the Great Depression?

Posted on Nov 6, 2009 READ MORE


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