The Stall Has Arrived

black unemployment

Robert Reich: @idening inequality is the underlying culprit. As long as almost all the gains from economic growth continue to go to the top, the vast middle class doesn’t have the purchasing power to boost the economy on its own.

The Wageless Recovery

wall street inflation

Robert Reich: The question on everyone’s mind: Will the Fed signal it’s now more worried about inflation than recession?

California Budget: What Happened Last Fall — The New Budget Immediately Starting Bleeding Red Ink

arnold2

The 2008-09 budget which was passed in September of last year ( two and a half months late) contained several overly optimistic (I would say wildly unsustainable) assumptions concerning revenue: First, it assumed the sale of over $3 billion in revenue bonds, but no one wanted to buy California bonds. Second, it “borrowed” from over […]

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