Posts Tagged 'Great Depression'

Graham Vanbergen – Enemies of the State: How the Financial Services Industry is Destroying Democracy

The top ten banks in the U.S., along with their European counterparts have racked up over $300bn of fines, metered out by regulators since their egregious criminality caused a global crisis that unfolded in 2008. Its lingering influence is felt by billions of people worldwide nearly a decade later in a recovery slower than the Great Depression of the 1930’s. Jails are devoid of the Armani suited mobsters employed by the financial services industry that are now causing the breakdown ...

Continue Reading →
0

Edward Baptist – America’s Economy Was Built on Slavery, Not White Ingenuity—Historians Should Tell It Like It Is

The following is an adapted excerpt from the new paperback edition of The Half Has Never Been Told by Edward Baptist (Basic Books, 2016): 

A beautiful late April day in 1937, seventy-two years after slavery ended in the United States. Claude Anderson parks his car on the side of Holbrook Street in Danville. On the porch of number 513, he rearranges the notepads under his arm. Releasing his breath in a rush of decision, he steps up to the door of ...

Continue Reading →
0

Michael Hudson – Celebrating the One Percent – Is Inequality Really Good for the Economy?

To paraphrase Mark Twain, everyone complains about inequality, but nobody does anything about it.

What they do is to use “inequality” as a takeoff point to project their own views on how to make society more prosperous and at the same time more equal. These views largely depend on whether they view the One Percent as innovative, smart and creative, making wealth by helping the rest of society – or whether, as the great classical economists wrote, the wealthiest layer of ...

Continue Reading →
0

Mark Taliano – Media Disinformation and America’s Wars: Liars Versus Truthers. The “Progressive Left” Has Been Coopted

Well-documented facts pertaining to the 9/11 wars, all supported by sustainable evidence, have barely made inroads into the collective consciousness of Western media consumers.

The War on Syria is no exception.  Despite the presence of five years of sustainable evidence that contradicts the Western narratives, people still believe the “official” lies.

The consensus of ignorance is sustained by what Michel Chossudovsky describes as an “American Inquisition”. Beneath the protection of this psychological operation, the engineered enemy is Islam, and ...

Continue Reading →
0

Pete Dolack – Could an Economic Collapse be in Our Near Future?

Climate scientists and others have in the past few years issued a steady stream of analyses showing that without immediate remedial actions, a disastrous future is headed our way. But is it a four-decade-old study that will prove prescient?

That study, issued in the 1972 book The Limits to Growth, forecast that industrial output would decline early in the 21st century, followed quickly by a rise in death rates due to reduced provision of services and food that would lead to a ...

Continue Reading →
0

“Future Economic Historians” Will Probably Call the Period That Began In 2007 “the LONGEST DEPRESSION”

Sure, last year was the first pre-election year stock market loss since the Great Depression.  And admittedly, this week was the worst opening week of any year … EVER.

But that’s not the big news.

The big news is that a prominent economist – University of California economics prof Brad DeLong – wrote today:

Economist Joe Stiglitz warned back in 2010 that the world risked sliding into a “Great Malaise.” This week, he

Continue Reading →
0

Robert Reich – The Economy in 2016: On the Edge of Recession

Economic forecasters exist to make astrologers look good, but I’ll hazard a guess. I expect the U.S. economy to sputter in 2016. That’s because the economy faces a deep structural problem: not enough demand for all the goods and services it’s capable of producing.

American consumers account for almost 70 percent of economic activity, but they won’t have enough purchasing power in 2016 to keep the economy going on more than two cylinders. Blame widening inequality.

Consider: The median wage is 4 ...

Continue Reading →
0

698K Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart

After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike “threshold” once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for ...

Continue Reading →
0

ROBERT REICH – Labor Day 2028

In 1928, famed British economist John Maynard Keynespredicted that technology would advance so far in a hundred years – by 2028 – that it will replace all work, and no one will need to worry about making money.

“For the first time since his creation man will be faced with his real, his permanent problem – how to use his freedom from pressing economic cares, how to occupy the leisure, which ...

Continue Reading →
0

Alan Nasser – The Myth of the Middle Class: Have Most Americans Always Been Poor?

One of the most firmly entrenched myths of the American Ideology is that the U.S. is a “middle class society,” a “land of opportunity” where anyone who works hard has the opportunity to achieve the standard of living which has made America “the envy of the world.” A common, and spot on, rejoinder has been to remind us that America has always had a sizable class of permanently poor people and that it is just factually false that those ready, ...

Continue Reading →
0
Page 1 of 4 1234