A Surprise Ending for Larry Summers and the Fed?

larry summers

Richard Eskow: So far the Summers resistance has been closely linked with pro-Yellen sentiments, which is good, but it should also be made clear that a Geithner-like surprise nominee would be equally unacceptable.

Concentrated, Privatized Wealth or Shared Prosperity and Economic Democracy

never enough

Kevin Zeese and Margaret Flowers: Do we we want an economy that privatizes government services and public resources and continues to concentrate wealth; or whether we want to develop an economic democracy that invests in the public interest and creates shared prosperity.

Will Feds Bail Out Detroit Pensions?

detroit bankruptcy

RJ Eskow: If Detroit fails it will hurt our nation as a whole. It will send a message to minority and urban youth that their futures are as hopeless as they seem and the country doesn’t care.

Shadow Banking System: Collateral Damage

ben bernanke

Ellen Brown: The Fed could avoid collateral damage to the shadow banking system without curtailing its quantitative easing program by taking the novel approach of directing its QE fire hose into the real market.

Wall Street Pulls an Enron With Commodities

wall street and elizabeth warren

Joseph Palermo: Even before we’ve had a chance to recover from the Great Recession caused by their earlier malfeasance, the usual suspects among Wall Street’s “too big to fail” banks continue to plunder our society by artificially driving up commodity prices.

Detroit, and the Bankruptcy of America’s Social Contract

detroit bankrupt

Robert Reich: In drawing boundaries to include just the poor inner city, and requiring those within that boundary to take care of their compounded problems by themselves, the whiter and more affluent suburbs are off the hook.

California’s Budget: Even the Bard Knew the Mind Suffers with the Body

jerry brown

Sheila Kuehl: In the Governor’s proposed January budget, one can see a clear expression of belief in the lack of connection between education and healthcare — the mind and the body.

Why We Should Stop Subsidizing Sky-High CEO Pay

ceo regulation

Robert Reich: Taxpayers are subsidizing sky-high executive compensation. That’s because corporations deduct it from their income taxes, causing the rest of us to pay more in taxes to make up the difference.

New Economic System Needed and Growing: Learn How to Build It in Your Community

jobless

Margaret Flowers and Kevin Zeese: People are realizing that they cannot make it in the current Wall Street dominated corporate capitalist economy. It is not designed for most people to make it. Rather it is designed for a small percentage to profit while everyone else is exploited and economically insecure.

While Washington Sleeps, a Nation Crumbles

crumbled bridge

RJ Eskow: Americans have been treated to the bread-and-circuses spectacle of “Deficit Commissions,” debt hysteria, and a cult of economic austerity that demanded spending cuts across the globe despite the utter absence of real-world evidence for its harsh and untested prescriptions.

Cutting Food Stamps

food stamps

Steve Hochstadt: Congressional Republicans say that reducing the national debt will save future generations from financial disaster. To do that, they are taking food off the table for today’s children. What kind of morality is that?

Falling Through America’s Cracks

poverty

Jim Hightower: Today’s turbulent economic waters are sweeping millions of Americans downstream from the middle class into poverty – and that’s our nation’s true economic crisis.

Sequester’s Nearly Hidden Horror

poor americans

Carl Bloice: The story is being spread that the “sequester,” has not turned out as harmful as had been expected, indeed, that it is causing very little harm. Don’t believe it.

Forgotten Americans

no job

Richard Eskow: There are solutions to our unemployment problems, which have created nothing less than a lingering depression for wide swaths of our population. All we need is willpower… and remembering.

Think Your Money Is Safe in an Insured Bank Account? Think Again

bank crisis

Ellen Brown: Shifting the burden of a major bank collapse from the blameless taxpayer to the blameless depositor is another case of robbing Peter to pay Paul, while the real perpetrators carry on with their risky, speculative banking schemes.

Using Hokey Statistics to Abandon Jobless Americans

congress on vacation

Jim Hightower: Most congress critters clearly don’t care about America’s middle-class jobs depression. The White House cares, but doesn’t treat it as the crisis it is, so nothing happens.

CEOs Assert the License to Loot

loving ceos

Charles Hayes: No doubt there are many CEOs with good management skills, but it is a stretch far beyond credulity to say their special expertise is worthy of the right to loot a public enterprise and to persist in doing so even when the venture is losing money.

The Crime of Alleviating Poverty: A Local Community Currency Battles the Central Bank of Kenya

emma onyango

Ellen Brown: In an African slum with little of the national currency available, supplying residents with an alternative currency has a positive effect that is obvious, immediate and incontrovertible.

An Economy Of, By and For the People

ben bernanke

Kevin Zeese and Margaret Flowers: The reaction to Ben Bernanke suggestion that it may be time to wind down the easy money policies which have been injecting $85 billion into the hands of Wall Street each month show that the ‘recovery’ has been a fraud.

Homeowner Advocates Go After Wells Fargo’s Bottom Line

wells fargo protest

Dan Bluemel: When a bank is acting as a mortgage servicer, the situation changes. Often it is more profitable for a mortgage servicer to foreclose because of how mortgage-backed securities are structured.

Americans Deserve a Big Raise

living wage

Peter Dreier and Donald Cohen: A full-time worker who earns the current minimum wage makes only $15,080 a year. That is 19 percent below the official poverty line for a family of three.

Poverty’s New Home

suburban poverty

Jim Hightower: Once the secure base of the middle-class, suburbs have become the fastest-growing home of American poverty.

How Rep. Paul Ryan Attacks Programs That Benefited His Mom

paul ryan lasgna

Peter Dreier: Rep. Paul Ryan is back to his old tricks, demonizing people who rely on government to improve their lives. This week, his target was food stamp recipients.

New Deal for Millennials Needed

millennials

RJ Eskow: A little unsolicited advice: Run! Run from the radical-right Republicans and demand sanity instead of madness. Run from anyone who tells you corporatist Democrats are the best you can hope for politically.

Death of the Peasant Landlord

investment

Rudy Acuña: The ideal was to own one or two houses that could be rented out. That was the Mexicans’ Individual Retirement Account (IRA), only better because they did not have to pay an agent or be at the whim of the stock market.

The World Economy’s a Ticking Time Bomb (and the Fuse Is Lit)

financial wizards

RJ Eskow: Many financially sophisticated investors and bankers will say privately that they agree that it’s only a matter of time until the next crisis comes.

The Real Social Security Problem

bill clinton

Bill Gerencer: We may have to adjust the cap on the portion of income that contributes a percentage to social security. This will maintain a surplus. Second, Congress must give up its ability to borrow the surplus.

Is Radical Remaking of Economy Taking Root?

monsanto demonstration

Kevin Zeese and Margaret Flowers: The fact that people are waking up and taking action gives us hope based not in the rhetoric of phony politicians but in the actions of the people. That is where the real power resides, if we exercise it.

Still Think We Don’t Need Affirmative Action?

black ceo

David Love: Minority groups have been disproportionately affected by the Great Recession, and to make things worse, since the economic downturn, it appears diversity has not been a priority for employers.

How Enterprise Zones Are Killing the California Dream

deja vu showgirls

Gary Cohn: California’s Enterprise Zone program has been under fire for years from critics who say that it simply rewards employers for moving jobs from one location to another — and who echo the charge that several of the so-called enterprise zones aren’t really in economically distressed regions.

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