Income Inequality Does Matter And It Makes Us Worse Off

There is viewpoint that asserts that income inequality and wealth inequality are necessary, that they are the differences that motivate people to work and get ahead.  This viewpoint often implies that without wide income disparities that our economy's growth would slow.  Supporters of such a viewpoint seem to suggest that the only choices we have … Continue reading Income Inequality Does Matter And It Makes Us Worse Off

The Economy Has Caused Riots Before – In the Great Depression

Washington's Blog reminds us that things got ugly during the last prolonged depression in the United States.  This interesting historical footage from the Great Depression shows what happens when large numbers of people are unemployed for years at a time, get desperate, and perceive that the game is rigged to the benefit of Wall Street. … Continue reading The Economy Has Caused Riots Before – In the Great Depression

Banks Want to Do To Student Loans What They Did to Mortgages

On the heels of yesterday's post about student loans and their growth.  I want you to know that Wall Street is hot on the problem.  They've made a quiet proposal to the "supercommittee" that's supposedly addressing government deficits to have the government subsidize the banks via fees without creating any more student loans or taking … Continue reading Banks Want to Do To Student Loans What They Did to Mortgages

Some Other Interesting Perspectives on OccupyWallStreet

I've already mentioned my initial thoughts on the Occupy Wall Street movement (#OWS).  Here's some snippets from a couple of others with some interesting insights.  First, historian William Hogeland writes at his blog Hysteriography.  He notes how the #OWS movement is a deeply American movement.  It has roots in the American revolutionary period as much … Continue reading Some Other Interesting Perspectives on OccupyWallStreet

Warning: More Bank Bailouts Possible

One area I haven't commented on much is the ongoing European "debt crisis".  The Greek debt crisis is a part of it, but it's only the tip of the iceberg.  The roots are much deeper.  One reason I haven't commented is because it's fairly complex and requires a lot of background explanation which I haven't … Continue reading Warning: More Bank Bailouts Possible

The Fraudulent Flat Tax Pitch – A Rich and Powerful Tactic

Power and riches go together. But nowadays, they need political spin. Throughout history the very rich have usually also been the very powerful.  And usually the very rich use that power to both protect themselves from the less well-off and to figure out ways to further enrich themselves.  Often the enrichment comes at the expense … Continue reading The Fraudulent Flat Tax Pitch – A Rich and Powerful Tactic

Herman Cain’s 9-9-9 Plan and the 99%

In the constantly churning pool of Republican Presidential candidates, a seemingly political newcomer has risen to the top (for now): Herman Cain.  Mr. Cain, the former CEO of Godfather's Pizza where he engineered a leveraged buy-out from Pillsbury, isn't really a political newcomer or outsider, though.  He only appears to be because he personally has … Continue reading Herman Cain’s 9-9-9 Plan and the 99%

On the Occupy Wall Street (and Everywhere Else) Movement

I've been asked what I think of the Occupy Wall Street Movements.  I say it's about d*** time.  The anger and discontentment that the movement has tapped into is real and has been building for a long time.  The mass numbers of people - like say the 99%  - have good reasons to be angry. … Continue reading On the Occupy Wall Street (and Everywhere Else) Movement

John Stossel Fails an Education Test and Demonstrates That He’s Economically Illiterate

John Stossel is a Fox Business News reporter.  Stossel is an unabashed "libertarian" with a strong Austrian orientation on economics who focuses on economic issues.  He's made a living out of being indignant and disgusted by "liberals" and "big government" which he sees as the root of all economic problems.  He's been quite successful over … Continue reading John Stossel Fails an Education Test and Demonstrates That He’s Economically Illiterate

Obama’s So-Called Keynesian Stimulus Efforts Aren’t Very

The simple version of Keynesian economics suggests that if the economy is suffering from too little economic activity and high unemployment there are some policy options.  Specifically Keynes suggests there are three general kinds of policy options: The central bank (The Fed in the case of the U.S.) could lower interest rates and create money … Continue reading Obama’s So-Called Keynesian Stimulus Efforts Aren’t Very