Yves Smith at Naked Capitalism (an unusually good source of very in-depth, timely commentary) offers some strong evidence and analysis of how the S&P decision to downgrade the U.S. debt stinks. I've already talked about how it's really irrelevant at the economic level and how it's not likely to change things substantially. I've also written about how … Continue reading The S and P Downgrade Decision Stinks of Politics and Corruption.
Michael Perelman reports with NPR's help about how the Republicans shut down the FAA in mid-July for nearly 4 weeks as a favor to Delta Airlines. Basically, in July the law authorizing the FAA, the agency that supervises airport and airline safety,including flight controllers, expired. Normally this would be a routine renewal effort. Even in … Continue reading Republicans: What Deficit? We Need to Stop Unions First.
I don't enjoy scary movies. Never have. I also don't enjoy scary "amusement" park rides.* I know I'm kind of a fluke in our U.S. culture this way. I just find that there's enough excitement, thrills, and fright in the real world if you just open your eyes. An example of real world things to … Continue reading This Is No Movie Folks. It’s Real and It’s Scary.
The issue of tax cuts and economic growth, which I've discussed recently here and here, looks like it's going to be an important topic for some time now judging by this week's announcement from Paul Ryan, one of the Republicans in the U.S. House of Representatives. While all the attention in the media has been … Continue reading Tax Cuts and Economic Growth, Once More – the Corporate Tax Version