Since the 1970s, wealth has become increasingly concentrated in the hands of the financial sector [EPA] Cambridge, MA - The Occupy movement has been an extremely exciting development. Unprecedented, in fact. There’s never been anything like it that I can think of. If the bonds and associations it has established can be sustained through a long, [...]
Posts Tagged ‘ Economy of the United States ’
Plutonomy and the precariat: On the history of the US economy in decline The current US economy is built on ‘growing worker insecurity’ – people who are too busy and poor to make demands. by Chomsky
The Stall Has Arrived Sunday, 06 May 2012 12:45By Robert Reich, Robert Reich’s Blog | Op-Ed The economy has stalled. Friday’s jobs report for April was even more disappointing than March. Employers added only 115,000 new jobs, down from March’s number (the Bureau of Labor Statistics revised the March number upward to [...]
Want to understand the economy? Don’t read the press Financial crimes and woes are severely underreported in the media, and in many cases, completely overlooked.
Economists tend not to be very good at economics, not noticing the $8 trillion housing bubble [GALLO/GETTY] New York, NY - Financial journalists are supposed to be among the most educated and savvy about the economy. Many have either worked on Wall Street, or have advanced degrees in economics and business. Over the past few years, [...]
America at stall speed? The longer politicians argue about how to solve the economic crisis, the smaller the chance of recovery becomes.
Without quick strategic action to restart the economy, the unemployment crisis will deepen [GALLO/GETTY] Judging from the skittishness of both markets and “consensus expectations”, the United States’ economic prospects are confusing. One day, the country is on the brink of a double-dip recession; the next, it is on the verge of a turbo-charged recovery, powered [...]
US economy slows down: world shares fell sharply in response. Photograph: Henny Ray Abrams/AP The US economy ground to a virtual halt in the first half of the year, with consumer spending at its weakest level in two years. The world’s largest economy grew by just 0.4% between January and June – half the pace of [...]
An Economy Destroyed By PAUL CRAIG ROBERTS Recently, the bond rating agencies that gave junk derivatives triple-A ratings threatened to downgrade US Treasury bonds if the White House and Congress did not reach a deficit reduction deal and debt ceiling increase. The downgrade threat is not credible, and neither is the default threat. Both are [...]
Ben Bernanke‘s press conference – as it happened Federal Reserve chairman Ben Bernanke blamed ‘headwinds’ for the feeble state of the US economy in a press conference Ben Bernanke takes questions on the state of the US economy. Photograph: Brendan Smialowski/Getty Images For only the second time, Federal Reserve chairman Ben Bernanke will take the microphone [...]
Remember the Financial Crisis was just that- financial. The worst is yet to come. You can not print money forever. Say I’m old fashioned Say I’m over the hill, but someone has to pay and you can bet the elites will not put their hands in their pockets
US economy may be sliding back towards recession, Wall Street fears Wall Street share sell-off is triggered by gloomy US jobs and industry figures Share92 Larry Elliott, economics editor guardian.co.uk, Wednesday 1 June 2011 23.56 BST Article history Poor data on US employment and industrial performance cast a pall over Wall Street. Photograph: Spencer [...]