Mark Naison: The last time we had an extended period of profits rising while wages stagnated was the 1920’s – many historians view this as the most significant underlying cause of the Great Depression.
Dick Price: I struggled to watch the Republican Convention, fast-forwarding through the recordings when the “snow” got too deep. As I watch the Democrats in Charlotte, I certainly hope I see enough to recover at least a part of my enthusiasm from four years ago.
Robert Reich: The worst economy since the Great Depression and you might think at least one of the candidates would come up with a few big ideas for how to get us out of it. But you’d be wrong.
Kwazi Nkrumah: Overall, Americans are now carrying about $798.3 billion in revolving debt, a type of debt that is almost entirely made up of credit card balances,
Robert Reich: Inhabitants of the Big Money economy are celebrating Republican wins last week. They figure financial regulations will be rolled back, environmental regulations will be canned, the Bush tax cut will be extended to the top 1 percent, and it will be harder for workers to form unions.
John Delloro: Giving back Arizona may potentially jumpstart our economy and stimulate our national imagination towards creating a greater common vision. If returning Arizona to Mexico doesn’t work, we can always revisit and adapt Jonathan Swift’s “Modest Proposal” and sell and consume undocumented immigrants as food in the ultimate and most seamless form of assimilation into the body politic of the US.
In a word: No. The plan doesn’t stop stop bankers from making huge, risky bets with other peoples’ money. It does increase capital requirements and oversight, but it doesn’t require bankers to take their pay in long-term stock options or warrants, and it doesn’t even hint that banks should go back to being partnerships instead […]
It’s the kind of thing I expect to hear from deficit hawks and chicken littles — from the self-described “fiscally responsible” right, from the scolds Ross Perot and Pete Peterson, from my former cabinet colleague Bob Rubin. But yesterday I was shown slides developed by the putatively liberal Center for American Progress intended to make […]
“Demonizing the bankers as if they and they alone created the financial meltdown is both inaccurate and short-sighted,” Citigroup chairman Richard Parsons told reporters recently. “Everybody participated in pumping up this balloon and now that the balloon has deflated, everybody has some part in the blame.” Oh no we don’t. Talk about dissembling. The truth […]
by Richard M. Mathews — I wrote recently about how Democratic presidents create many more jobs than do Republican presidents. What about the rest of the economy? I don’t want to talk down the economy as George W. Bush’s team did when he was running for president in 2000. They insisted that the economy was […]