The Republican Recipe for An Anemic Economy Through Election Day 2012

john boehner

Robert Reich: The real message from voters was “Fix this stinking economy.” But Republicans have no intention of doing so. With Republicans in control of the House, forget spending increases or tax cuts to stimulate the economy.

The Fed’s New Bubble (Masquerading as a Jobs Program)

economic collapse

Robert Reich: The latest jobs bill coming out of Washington isn’t really a bill at all. It’s the Fed’s attempt to keep long-term interest rates low by pumping even more money into the economy (“quantiative easing” in Fed-speak).

Why It’s Foolish to Weaken the Dollar to Create Jobs

bread dollar

Robert Reich:I keep hearing the only way we’re going to get jobs back any time soon is with a weak dollar. Baloney.

Why No Amount of Fiscal or Monetary Stimulus Will Be Enough

recession

Robert Reich: The Fed’s decision Tuesday to keep short-term interest rates near zero is no surprise. What’s odd is its apparent decision not to boost the economy by buying hundreds of billions of bonds — despite its acknowledgment that ”the pace of recovery in output and employment has slowed in recent months,” and that prices are rising too slowly for comfort (i.e., we might be facing deflation).

Why There’s An Enthusiasm Gap: An Illustration

wealthy

Robert Reich: Super-rich financiers on Wall Street and top corporate executives have grown richer, though most Americans are getting poorer.

The Real Lesson of Labor Day

american flag

Robert Reich: Face it: The national economy isn’t escaping the gravitational pull of the Great Recession. None of the standard booster rockets are working.

Slouching Toward a Lousy Recovery at Best

Recession

Robert Reich: The people who are suffering the most from the failure of public officials and the greed of large bankers are the least able to endure it. Unemployment among people with four-year college degrees is barely over 5 percent; among high-school dropouts it’s over 25 percent.

The White House Should Stop Pandering to the Street; Support Three Critical Banking Reforms

Goldman Sachs

Robert Reich: The White House dismisses all three of these three measures “populist,” as if that adjective is the equivalent of “irresponsible.” But in fact, these amendments are necessary in order to restore trust in our financial system. They would reduce Wall Street’s tendency to take huge risks, pocket the wins, and fob off the losses on the public.

Our Incredible Shrinking Democracy

Democracy

Robert Reich: It seems as if more and more decisions that should be made democratically are being shunted off somewhere to a few people who make them in back rooms. Which programs should be cut, which entitlements pared back, and what taxes raised in order to reduce the long-term budget deficit? Hmmm. Let’s convene a commission and have them decide.

The Fed and Authoritarian Capitalism

greenspan

Chinese authoritarian capitalism, on display this week in Beijing, has me thinking about America’s democratic capitalism and how we practice it. Start with the U.S. economy’s most powerful government agency: The Fed, of course. Its decision this week to hold short-term interest rates steady was wrong, in my view; it should have lowered them because [...]

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