Tag Archives: economy

The 2008 Financial Crisis Will Happen Again (Probably In The 2020s)

Forty reasons: Risk-taking alpha males. Coke using. Hookers. Nihilism. Amorality. The rich will turn their backs on society. Emotional blackmail: “You need us! Without us the economy will crash!” Abusers of the financial system will have well-prepared lawyers. The culture … Continue reading

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Why I Favor a Minimum Wage of $12.50

Because $12.50 translates to just $500 dollars for a 40 hour work week ($2000 a month; $24,000 a year). Combine this minimum wage with Obamacare subsidies for health care, and you’ve got every full-time worker in the U.S. with a … Continue reading

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Human Beings are “Purpose Maximizers, Not Profit Maximizers”

Autonomy, mastery, and meaning are bigger motivators than money. Author Dan Pink explains:

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Invoke the 14th Amendment: Sean Wilentz’s Must-Read Advice to President Obama

Sean Wilentz, a Princeton historian, has written for the NYT today an absolutely must-read essay on the looming debt default crisis, how it would violate the 14th Amendment to actually let the country go into default, and what President Obama … Continue reading

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Kill Obamacare or Republicans Will Default on the Debt and the Global Economy Will Die!

Historian Anne Applebaum bottom-lines Republican hostage-taking: Obamacare is the law, as confirmed by the executive, legislative, and judicial branches of our political system. A portion of one of those branches is therefore not now legally or morally empowered to change that … Continue reading

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It’s Always Been John Boehner’s Call (No Country for Old Men)

I think one of the great scenes in No Country for Old Men has a lot of political salience right now. John Boehner is the man pretending events are not of his making; Obama is the woman saying, “The coin don’t have … Continue reading

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Atlas Shrugged for Real: Republicans Seek an Economic Shutdown to Achieve Their Agenda

The Atlas Shrugged Party looks like it’s barreling full-tilt to an economic shutdown–an Atlas Shrugged scenario for real–in a couple of weeks, and here’s Jon Favreau’s advice to President Obama: [A] failure to raise the debt limit would inflict far more … Continue reading

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Republicans Want to Shut the Government Down

They can barely contain themselves. In fact, they’re flush about it. This was in The New York Times yesterday: The mood in the Capitol on Saturday, at least among Republicans, was downright giddy. When Republican leaders presented their plan in a … Continue reading

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Is Slow or No Economic Growth the New Normal for the United States?

In the below TED talk, economic growth skeptic, Robert Gordon, explains his views: ___________ His vision is certainly a splash of cold water on the Ray Kurzweil’s of this world. But I’m impressed by neither the assumptions he makes nor … Continue reading

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Woody Allen’s “Blue Jasmine” with Cate Blanchett in a Blanche DuBois Echoing Role

Woody Allen continues his staggering productivity as a writer and director. His latest film, Blue Jasmine, is getting rave reviews, such as this from David Denby at The New Yorker: Woody Allen, in his startling new movie, “Blue Jasmine,” has adopted … Continue reading

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Contemporary Life in Perspective

A stunning statistic (via Bloomberg Businessweek): The global median income is around $3 to $4 a day. That means that half of the world’s population lives on less than that. Here’s another stunning statistic (from the same source): According to … Continue reading

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What You Earn Correlates With What Your Children Will Earn

On income inequality in America, this comes from Scott Winship: Only 13 percent of children starting in the bottom fifth [of income] will end up in the top two-fifths in adulthood (compared with 63 percent of children who start out … Continue reading

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President Obama’s Legacy: America at One Gigabit Per Second?

In The New York Times this week, Thomas Friedman shared his take on the world we live in: It’s a world in which the increasing velocity of globalization and the Information Technology revolution are reshaping every job, workplace and industry. … Continue reading

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Mint the Trillion Dollar Platinum Coin?

Ezra Klein at The Washington Post is against it: There are already cracks in the GOP’s coalition over whether holding the debt ceiling hostage is such a good idea, with Newt Gingrich, the Wall Street Journal and assorted columnists beginning to head to the exits. … Continue reading

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A Fringe Environmentalist Speaks

Welcome to the politics of resentment from the left instead of the right; Christianity by other means; what Nietzsche called slave morality. What strikes me here is how similar Charles Eisenstein sounds to right-wing apocalyptic crackpots who salivate to predictions of … Continue reading

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The Republican Cliff

In the fiscal cliff negotiations, Republican politicians are facing an existential choice, and they’re showing signs of stress and fracture because of it. President Obama has already put his neck out. To bring the federal deficit down, he wants increased … Continue reading

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President Obama’s Perfect Storm and Rmoney’s Charmed Life

Half a million chronically unemployed Americans are scheduled to lose their unemployment benefits in August. That strikes me as a pretty shocking number for President Obama to be dealing with in the run-up to an election. Will these people simply … Continue reading

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Deficit Hawks For Obama: A Vote for Mitt Romney is a Vote for Deficit Spending

Business Insider’s Chief Editor, Joe Wiesenthal, recently made a compelling case for voting for Mitt Romney (if you’re a Keynesian): Back in April we made the argument that a Mitt Romney win would be better for the economy, based on fairly … Continue reading

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Syriza Watch: In Greece, The Center Does Not Hold, And That Means This Bell Is For You

The radical-left Syriza party’s meteoric rise in Grecian politics (it trailed the conservatives by just 2 percentage points in recent elections) has placed Greece on the verge of default. Here’s John Psarapoulos, writing for the Daily Beast, on the fast … Continue reading

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Chris Hedges the Prophet: Liberal Democracy Headed for Breakdown

Chris Hedges thinks the writing is on the wall, Nebuchadnezzar. In his most recent essay at Truthdig (“The Globalization of Hollow Politics”), he writes the following: A breakdown of liberal democracy [in the United States], which seems to be where we … Continue reading

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