Category Economics

GOING OFF THE GOLD STANDARD CAUSED INEQUALITY TO SOAR

Why Inequality Started Soaring in 1971  by WashingtonsBlog Going Off the Gold Standard Encouraged a Financialized Economy … Which Caused Inequality to Soar The New York Sun notes that inequality started soaring in 1971 … the same year that Nixon took the U.S. off of the gold standard.  The Sun shows the following chart from Thomas Piketty’s new […]

BANKS CREATE MONEY OUT OF THIN AIR, AND THEN CHARGE INTEREST ON IT

The Biggest Secret About Banking Has Just Gone Mainstream  by WashingtonsBlog Banks Create Money Out of Thin Air … Conferring Enormous Windfall Profits At the Expense of the People We’ve pointed out for 4 1/2 years that banks create money out of thin air. Specifically, it has now been conclusively proven that loans come first … and then deposits FOLLOW. […]

Massive Inequality Didn’t Just Happen—It Was Engineered by Conservative Government Policies

AlterNet / By Dean Baker Inequality in America is the result of a whole range of policies intended to redistribute income upward.   In his speech on inequality earlier this month, President Obama proclaimed that the government could not be a bystander in the effort to reduce inequality, which he described as the defining moral issue of our […]

President Pivot prepares to screw old and infirm

                    Whatever Happened to ‘No negotiations’ with Debt Ceiling ‘Hostage Takers’?        by: Dave Lindorff   President Obama ran for president promising change. What his backers didn’t realize was that he wasn’t talking about changing America for the better. He was talking about changing his position whenever he found himself in a confrontation with Republicans. There’s […]

One Nation, Under Sesquestration

Is horse trading the answer? (Well, it might be better than the alternative …) from Hullabaloo by digby Who could have guessed? Sequestration exemptions are shaping up to be Washington’s newest version of earmarks. Agencies, companies and other groups are on the hunt for Capitol Hill allies with the juice to save their pet issues from the […]

SEPTEMBER 11TH, 2008–AMERICA’S ECONOMIC 9/11?

by Mark Glenn In an admission stunning for its frankness (and particularly given the fact it originated with a politician whose country is held prisoner by foreign, criminal interests) Rep. Paul Kanjorski, (D, Penn) Chairman of the House’s Capitol Markets Subcommittee recently admitted on C-SPAN that  the current economic problems faced by ~ not just […]

“Village mentality” of Mainstream News Reporters

Villagers have no clothes by digby Many of us shrill, filthy hippie bloggers have been pointing this out for years, but I must say that it’s a thrill to finally see it explored in the world of legitimate journalism: An essential and successful element of the Peterson strategy is to create an environment where it is […]