Why have nations at all, economically speaking? Continue reading
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Category Archives: Economy
A New Contract for America
The U.S. working class has always been divided—along racial lines, against each succeeding wave of immigrants and now between the haves and the have-nots. Continue reading
The Money Party on the road to ruin
The Money Party is destroying the United States. For 10 years, there have been no new jobs with flat income. Unemployment and poverty are making a big comeback. The party consists of those who own and control concentrations of great wealth and the select few who serve them (their Mandarins). Based on the efficiency of the demolition job, you have to wonder is this is by design? If greed, ignorance, and paranoia constitute a plan, then they are master planners. Continue reading
American manufacturing slowly rotting away: How industries die
I wrote in a previous article about why America’s manufacturing sector, despite record output, is actually in very deep trouble: record output doesn’t prove the sector healthy when we are running a huge trade deficit in manufactured goods, i.e. consuming more goods than we produce and plugging the gap with asset sales and debt. Continue reading
Obama’s FY 2012 budget is a tool of class war
Obama’s new budget is a continuation of Wall Street’s class war against the poor and middle class. Wall Street wasn’t through with us when the banksters sold their fraudulent derivatives into our pension funds, wrecked Americans’ job prospects and retirement plans, secured a $700 billion bailout at taxpayers’ expense while foreclosing on the homes of millions of Americans, and loaded up the Federal Reserve’s balance sheet with several trillion dollars of junk financial paper in exchange for newly created money to shore up the banks’ balance sheets. Continue reading
Taking it to the street
The late, great American historian Howard Zinn, as professor emeritus in Boston University’s History Department, said in January 2001, “For progressive movements, the future does not lie with electoral politics. It lies in street warfare—protest movements and demonstrations, civil disobedience, strikes and boycotts using all of the power of consumers and workers have in direct action against the government and corporations.” Continue reading
The F Word: Obama should be ashamed of his budget
“This freeze would cut the deficit by more than $400 billion over the next decade, bringing this kind of spending—domestic discretionary spending—to its lowest share of our economy since Dwight Eisenhower was President. Let me repeat that. . . .” Continue reading
The Fed’s policy of creating inflation: A massive wealth transfer
Let us begin with some macroeconomic indicators of reference. Continue reading
