Gallup Organization released a study showing Americans, by a large majority, want less corporate influence in the U.S. Unfortunately they aren't getting it. Corporate influence is at an all time high. See Fox, Hen House, Economic Advisors and Nice to Advise the King for examples. The last Congressional election was the most expensive so far, … Continue reading Majority Still Wants Less Corporate Influence
President Obama, in his never ending desperate quest to be accepted by Congressional Republicans as being just like them, even if it means abandoning the changes he was elected to lead, has changed his lead economic advisors. Simon Johnson in the NY Times observes: President Obama is embarked on a major charm offensive with the … Continue reading Fox, Hen House, Economic Advisors
Students in the U.S. are taught about how the U.S. Constitution establishes three "co-equal" branches of government, Legislative, Executive, and Judicial, with transparency and accountability to voters being essential to each. What we don't get taught is how a fourth branch has grown and emerged in the 60+ years since World War II and the … Continue reading Four Branches of Government
Last week marked the 50th anniversary of one of the most quoted, yet completely ignored Presidential addresses ever. I am speaking of President Eisenhower's farewell address to the nation just prior to the inauguration of John F. Kennedy. Before I get into the speech itself and comment on it, let me set the stage for … Continue reading Eisenhower’s Distant Echo on “Making Hard Choices”
We hit record territory some time ago. No matter how it's measured, either absolute #'s or as % of labor force or % of population, we (the U.S.) has a level of long-term unemployment far greater than anything we have seen since the Great Depression. see my post To Some, It’s a Depression for the specifics … Continue reading Long Term Unemployment: A Public Health Hazard
A fellow skeptic looks at the recent Supreme Court decision holding that corporations are entitled to full First Amendment rights to free speech, and notes the paradoxes that arise when a corporation is viewed as a "person". The Hypocrisy of Corporate Personhood « unsettling economics.
Inequality matters, and contrary to much "conventional wisdom", income redistribution can and does work in man countries. In fact, the evidence is that it results in faster growing and more productive economies. (Hat tip to Mark Thoma for this summary. I strongly urge readers to go to Born Poor?, by: Corey Pein: and read the … Continue reading Inequality Matters and Redistribution of Income Helps the Economy
The Bush tax cuts didn't really do much to "stimulate" the economy, contrary to the claims of many. In fact, they really didn't do anything other than run up the deficit. From Angry Bear: those who thought Bush did a good job and want to repeat his policies sure have some explaining to do. Even … Continue reading History: Job Creation by President
Just sayin'... Citigroup's "Massive" Tax Break by CalculatedRisk on 12/15/2009 11:11:00 PM The WaPo has an article about a tax break for Citigroup: U.S. gave up billions in tax money in deal for Citigroup's bailout repayment The Internal Revenue Service on Friday issued an exception to long-standing tax rules for the benefit of Citigroup and … Continue reading Even when banks pay back, they get bailed out.
Employment report is out for September 2009. Not good. Granted it's not the horror show we were seeing early in 2009. The decline of 263,000 in total employment is much better than the 500,000 and 700,000 losses we were seeing earlier this year. But this has been happening a long time now. That's a lot … Continue reading Unemployment and Things that make me go uh-oh.