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Category Archives: Economics

Working geezers = unemployed youth

Wednesday, July 27, 2011

Further proof at the link, if any were needed, that Lieberman’s proposal to raise the age of Medicare eligibility makes no sense in financial terms. One thing that is rarely mentioned when these issues are discussed is the effect that raising eligibility ages has on the young. This is an issue, however, about which the […]

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Another voice crying out in the wilderness

Tuesday, June 21, 2011

Must reading. A big time bond trader says the emphasis on short term deficit cutting is suidical. Our learn-nothing leaders, both the Republicans who are trying to destroy the economy (anything to destroy the Kenyan Marxist) and the Democrats, who always seem to accept the Republican frame, have ignored guys like Krugman and Baker, who […]

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There they go again

Friday, June 17, 2011

From Pro Publica: There are yet more delays in implementing financial reform. The Commodity Futures Trading Commission has said it needs extra time to write a set of derivatives rules required by Dodd-Frank, and others that were scheduled to go into effect automatically next month may be deferred until the end of the year—leaving the […]

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The Day goes to bat for a misunderstood union buster

Thursday, March 31, 2011

Today the Day joins the anti-union push, and in its usual somewhat muddled fashion, helps push the meme that the only thing standing between America and prosperity is unions, and please to ignore those corporations sitting on piles of cash they won’t even share with their shareholders. We are treated to a sympathetic portrayal of […]

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Another right wing meme exploded

Monday, March 7, 2011

The right has never had any particular penchant for telling the truth, particularly when it gets in the way of a good storyline that justifies screwing the middle class or poor. So, it’s no surprise that the latest right wing meme-that state worker pensions are driving states into bankruptcy-is basically a lie. Dean Baker (though […]

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A proud record

Wednesday, March 2, 2011

Great article at The Big Picture about McKinsey & Co, the firm for which Rajat Gupta worked. Gupta, was recently sued by the SEC for insider trading. It’s the classic modern success story. Massive success through massive failure. McKinsey is a global consulting company, which has managed to make huge amounts of money while achieving […]

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Book review with comment

Sunday, January 30, 2011

I just finished Matt Taibbi’s Griftopia, and I highly recommend it. It is an excellent account of the scam artistry that destroyed the economy, and is, like the vampire squid to which he compares Goldman Sachs, (the arch, but not only villain of the book) sucking the life blood out of the country. It’s a […]

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Thieving China

Sunday, January 23, 2011

There’s no better blog, in my opinion, than Dean Baker’s Beat the Press, in which he skewers the press for its economics illiteracy, or, at times, for its seeming deliberate ignorance of the facts. Today he criticized the New York Times for characterizing the Chinese as thieves for stealing our intellectual property. With reference to […]

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Deja Vu all over again

Thursday, January 6, 2011

Are the criminals at Goldman Sachs at it again? Here, we find that a gold-plated division at Goldman, whose investors appear to be made up in large part of Goldman insiders, passed on the very Facebook deal that Goldman is now peddling to outsiders. Here, we find that the Facebook deal is structured in a […]

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A Brilliant Idea

Tuesday, December 21, 2010

This is the best idea I’ve heard in a long time. Brad Lander from District 39 on the New York City Council: Here in New York City, Mayor Bloomberg has proposed laying off over 4,000 public school teachers, closing 20 fire companies at night, closing dozens of child care centers, eliminating over 2,000 summer youth […]

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