How to Get Washington’s Attention

wall-street-follies-wide

Robert Reich: The leaders of the Street and big business may now have to wake up to a reality they’ve tried to avoid — that the central economic problem of our time isn’t the long-term budget deficit but the immediate deficit in aggregate demand.

Can Krugmanomics Be Saved?

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Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.

Economic Powerhouse Germany

germany

Steven Hill: Germany has evolved a social capitalism which has proven to be more stable and efficient than America’s Wall Street capitalism, not to mention more ecologically sustainable.

The Egyptian Middle Class Is Disgruntled. Again.

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Guy Laron: Though protesters in Cairo are clamoring for democracy, the underlying cause of the demonstrations may be the economic plight of the Egyptian middle class, according to historian Guy Laron. In this essay, Laron traces the roots of that economic plight back to the 1952 coup that brought the current military regime to power.

Who Says Republicans Have No New Ideas?

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Robert Reich: Republicans haven’t come up with a single new idea in almost 60 years. Herbert Hoover was the last Republican president to introduce a new Republican theme back in 1952 at the Republican National Convention. Since then they’ve repeated the message. Of course, Herbert Hoover, you may remember, didn’t have a sterling record when it came to the economy. As president, he presided over the Great Crash of 1929 and ushered in the Great Depression.

Ronnie at 100

Tom Degan: The sad, pathetic truth of the matter is that on the evening of Tuesday, November 4, 1980 I got so falling-down intoxicated, I voted for the man just as a joke. A failed, “B” movie actor in the White House? That ought to be good for a nice, long chuckle , I thought.

New Politics, Patriotic Capitalism

David and Holly Petraeus

Brent Budowsky: This is the first in a series of columns that will propose that progressive populist Democrats and conservative populist Republicans unite behind new economic policies that I will call patriotic capitalism.



John’s Lament

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John Blue: Chattel slavery may be gone for good, but today’s economic slavery may be little better; with the too-high unemployment and foreclosure rates and union membership ever declining, a lot of people “owe their soul to the Company store” and who among them is so bold to challenge their bondage?

Breaking China—Legally

hu jintao

Walter Brasch: Although China is the world’s second largest economic power behind the U.S. and this country’s largest creditor, there is no need to fear either its economy or its military power. It has already sown the seeds of its own destruction.

The Big Lie

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Robert Reich: Americans no longer have the purchasing power to keep the economy going at full capacity. Since the debt bubble burst, most Americans have had to reduce their spending; they need to repay their debts, can’t borrow as before, and must save for retirement.

Seven Reasons Why Capitalism Can’t Recover Anytime Soon

economy

Shamus Cooke: To deal with working people more ruthlessly, the radical right is being unleashed. In normal times these bigots yell furiously but no one listens. But in times of economic crisis they’re given endless airtime on all major media outlets.

Greece: Epicenter of the Debt Earthquake?

Papandreou and Obama

Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable

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