Socio-economic

Gar Alperovitz – 6 Ways We’re Already Leading an Economic Revolution

Many years ago, while researching the history of the U.S. decision to use atomic weapons on the people of Japan, I came to understand something: There was something deep at work in the American political and economic system driving it toward relentless expansion and a dangerous, informal imperialism. I began thinking about how to fundamentally change America out of concern with what America was doing—and is still doing—to the rest of the world.

Many experiences since—especially working in the U.S. House, ...

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Michael Snyder – The One Trillion Dollar Consumer Auto Loan Bubble Is Beginning To Burst

Do you remember the subprime mortgage meltdown from the last financial crisis?  Well, this time around we are facing a subprime auto loan meltdown.  In recent years, auto lenders have become more and more aggressive, and they have been increasingly willing to lend money to people that should not be borrowing money to buy a new vehicle under any circumstances.  Just like with subprime mortgages, this strategy seemed to pay off at first, but now economic reality is beginning to ...

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New Study Reveals Medical Marijuana Saves Over $165 Million In Annual Medicare Costs In United States

Marijuana is dramatically gaining acceptance among the American public. Recently, a new poll by Gallup revealed that the percentage of American adults who smoke marijuana has nearly doubled in three years. According to the Gallup poll published in August 2016, among the American adults who participated in the survey, one in eight – representing 13% of the respondents used in the poll – reported current marijuana use. In 2013, the same Gallup poll revealed ...

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Sam Becker – How Much Money Does the Average American Have in Their Bank Account?

Despite living in what is likely the wealthiest nation to ever have existed, Americans sure are having a hard time getting by. As most people are well aware of at this point, wage stagnation and numerous structural economic changes over the years have led to a shrinking middle class, fewer and fewer “good” jobs, and calls for political policies that were once thought to be too poisonous to touch — like a $15 minimum wage, for example.

Given that ...

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Alexa Clay – A New Economic Vision That Mixes Together Occupy, Amish Culture, and Startups

t feels we are in a time of increasing cultural polarization, marked by the refugee crisis in Europe, the staunch divide of U.S. domestic politics, and the growing disenchantment of millennials with traditional institutions. Now, as we fall victim to the cultural bubbles we live in—the walled echo chambers of opinion that make up our social networks—we need to be able to bridge divides, to communicate across subcultures. Now, more than ever, we need to navigate the world with a ...

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James B. Steele and Lance Williams – WHO GOT RICH OFF THE STUDENT DEBT CRISIS

A generation ago, Congress privatized a student loan program intended to give more Americans access to higher education.

In its place, lawmakers created another profit center for Wall Street and a system of college finance that has fed the nation’s cycle of inequality. Step by step, Congress has enacted one law after another to make student debt the worst kind of debt for Americans – and the best kind for banks and debt collectors.

Today, just about everyone involved in the student loan ...

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Low-income shoppers are in worse shape than you thought

It was finally starting to look like the lowest-earning Americans had caught a break.

Yet as they feel the squeeze of rising health-care and housing costs, the lift from a stronger job market and low fuel prices hasn’t been enough for these consumers to feel relief. And for hundreds of thousands who are unemployed, a change in qualifications for Supplemental Nutrition Assistance Program benefits is making it even tougher to put food on the table.

That economic impact is starting to impact ...

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Mike Shedlock – Fed Vice-Chairman Admits Fed Sponsors Wealth Inequality

Federal Reserve Vice-Chairman Stanley Fischer made a couple of controversial statements this week regarding negative interest rates.

Fisher stated negative rates “seem to work” while admitting they are bad for savers but they “typically they go along with quite decent equity prices.”

There are two problems in play. The first is an explicit admission that the Fed sponsors wealth inequality. The second problem is Fisher does not understand how markets even work.

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Michael Winship – Trading Politics for Medical Profits

Cash and carry has become nothing more than standard operating procedure in politics and government, and it’s wrecking the republic. The whole system is rotten to the core, corrupted by big business and special interests from the seventh son to the seventh son.

Or daughter, as we learned these past few days when the news introduced us to Heather Bresch, CEO of a drug company called Mylan and daughter of Democratic U.S. Sen. Joe Manchin III, who’s also the former governor ...

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Nika Knight – Debtors’ Prison for Kids: Poor Children Incarcerated When Families Can’t Pay Juvenile Court Fees

Many states are incarcerating poor children whose families can’t afford to pay juvenile court fees and fines, a report published Wednesday finds, which amounts to punishing children for their families’ poverty—and that may be unconstitutional.

Although the growing practice of incarcerating adults who are unable to pay municipal and court fees and fines has been documented for several years, as Common Dreams has noted, the latest report from the Juvenile Law ...

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