mike whitney

Still Broken Five Years Later

Feb 22, 2014
Very few people seem to know that the crisis began in a shadowy part of the financial system called repo, which is short for repurchase agreement.

Foreclosure Filings Jump as Investors Eye Exits

Feb 15, 2014
It’s too bad Keynes isn’t around today to see how the toxic combo of financial engineering, central bank liquidity and fraud have transformed the world’s biggest economy into a hobbled, crisis-prone invalid that’s unable to grow without giant doses of zero-rate heroin and mega-leverage crack cocaine.

Obama Killed the American Dream

Feb 8, 2014
Here's your shining city on the hill in a nutshell: a privately owned gulag where petty drug offenders are locked up for life so some chiseling hedge fund manager can report record profits to his shareholders.
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Work Until You’re Dead?

Jan 2, 2014
A sizable chunk of the adult population is going to punch a clock until they keel over in the office parking lot and get hauled off in the company dumpster. And those are the lucky ones, the so called baby boomers. By the time we get to the millennials it’ll be even worse because the economy will have been ravaged by 25 or 30 years of austerity leaving the proles to scrape by on hardtack and gruel.

A Repo Implosion

Oct 13, 2013
Obama is determined to prevail in his battle with GOP leaders over the debt ceiling, but not for the reasons stated in the media.

The True State of the Economy

Oct 5, 2013
There is a tradeoff for all the loot Obama’s friends have been pilfering from working people, and that tradeoff is trust. Americans no longer have confidence in the government, the market or the justice system. And while the effects might not appear in the next month or two, there are sectors of the economy that are showing signs of weakness already.