Looking Beyond Election Day

dollar chicken

Robert Reich: Political elites are worried about thunder on the right and the left, but they show scant understanding of what these growing anti-establishment forces signify. Meanwhile, the nation drifts.

Why China’s Currency Announcement Is Hockum

china currency

Robert Reich: Don’t be fooled into thinking that US companies will continue to make big profits from sales in China. China allows big U.S. and foreign companies to sell in China on condition that production takes place in China – often in joint ventures with Chinese companies. It wasn’t American know-how, so it can eventually replace the US firms with China firms.

Obama, China, and Wishful Thinking About American Jobs

China-budget

The dirty little secret on both sides of the Pacific is that both America and China are capable of producing far more than their own consumers are capable of buying. In the U.S., the root of the problem is a growing share of total income going to the richest Americans, leaving the middle class with relatively less purchasing power unless they go deep into debt.

Another Great Depression?

great-depression

The United States is in the midst of the worst financial crisis since the Great Depression. The question is: How close are we to another Great Depression? The answer is: Very close. Here’s why. The Great Depression was the result of the combination of the 1929 financial crisis and serious structural problems in the American […]

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