Ellen Brown: Brexit could trigger a $500 trillion derivatives meltdown, by forcing the EU to allow insolvent member governments and banks to write down debt. Italy is in financial crisis and is already petitioning for that concession. How to avoid collapse of the massive derivatives house of cards? Alternatives are considered.
RJ Eskow: Although Tony Blair laments the failure of the “political center,” this didn’t happen because he and his colleagues failed. It happened because they succeeded.
Hannah Petrie: Affordable housing is so unsexy there isn’t even a catchy phrase for what I’m trying to describe, but here’s an attempt: Land development for affordable housing. Too bad I can’t throw a bikini on that.
Frank Fear: Neoliberalism is so pervasive that prominent interpretations of what it means “to be a good leader,” “to exercise good leadership,” and “to be a success” are defined in neoliberal terms.
Robert Borosage: The Sanders critique of Clinton still holds. The actual programs are less bold than the goals. The public investment agenda is grander in rhetoric than in financial commitment.
Larry Wines: Now that Brexit has happened, it’s definitely scaring the hell out of the banksters on both sides of the Atlantic. By Tuesday, we’ll know to what extent that applies to Japan and China, as well.
Richard Eskow: As members of the House Financial Services Committee, the “Hedge Fund 13″ all voted for a Wall Street-backed bill with an Orwellian name: the “Investment Advisers Modernization Act.”
Judith Lewis Mernit: The Congressional Budget Office estimates that taxing carried interest at ordinary rates would net $18 billion over 10 years.
Randy Shaw: Reagan’s drastic housing cuts in 1981 turned a worsening urban affordability crisis into the nation’s worst mass homelessness since the Great Depression.
Richard Eskow: It’s true that he’s popular among media and political elites, but that sad fact only serves to remind us that some memories are short – and that, for some people, the ties of social status outweigh those of morality and decency.
Paul Haeder: He’s mayor for a day, and get this, he is in a union, and daily, he struggles working next to racist, retrograde union members thumping or humping or stumping for Trump.
Julie Gutman Dickison: While the economic fortunes of impoverished, working-class and middle-class Americans may not be front and center in the daily media coverage of the presidential race, widespread economic distress is without question the dominant force animating the 2016 election cycle.
Steve Hochstadt: Researchers on the economics of happiness have recently concluded that more money leads to more happiness only up to an income of about $75,000 per year. After that, increases in income seem to make little difference in daily happiness.