Category Archives: economy

McDonald’s: Just as Difficult to Get Into as Harvard By Percentage

Percentage of applicants offered undergraduate admission to Harvard this year:  6.2 Percentage of applicants accepted for employment on McDonald’s National Hiring Day in April: 6.2 – from Harper’s Index, June 2011 via TYWKIWDBI Hard days to an applicant of most … Continue reading

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Most Everybody’s a Keynesian

Faced with this prospect (triggered defense cuts), Republicans — who normally insist that the government can’t create jobs, and who have argued that lower, not higher, federal spending is the key to recovery — have rushed to oppose any cuts … Continue reading

Posted in Economics, economy, Fiscal Policy, Government, Keynesian, Liars, Policy | Tagged , , , , , , | Leave a comment

One Thing I Didn’t Know, and One Thing I Didn’t Think Was Likely

What I didn’t think was likely may be so: The conditions are coalescing for another US resurgence (in manufacturing). Rising wages, shipping costs, and land prices-combined with a strengthening renminbi-are rapidly eroding China’s cost advantages. The US, meanwhile, is becoming … Continue reading

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How Does the Employment Rate Look Structural?

There is no evidence of structural unemployment. I don’t know how anyone can say with a straight face “The high rate is structural given long-term employment trends” or even “The high rate is now structural because the recession popped a … Continue reading

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Borne Back Ceaselessly Into the Past

Yesterday, Oct. 3, 2011, the S&P 500 closed at 1,099.23. Exactly three years ago, on Oct. 3, 2008, the S&P 500 closed at 1,099.23. Freakonomics Things are not much improved, things are much the same. If we ignore the mortgage … Continue reading

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This Ain’t Your Parents Recovery

And it’s because this recession is different. This recession was not caused by inflation like the recession in the early 80s, and not part of the business cycle. For our purposes, we need to stop using Friedman’s logic and go … Continue reading

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The Marketing Success of Oligarchs, Bigger Even Than Bud Light Lime

As the talk show host Tavis Smiley and I have said in our national tour against poverty, the recent budget deal is only the latest phase of a 30-year, top-down, one-sided war against the poor and working people in the … Continue reading

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92% of Bank Managers From 10 Years Ago Still Run the Same Companies

If your company needed a bailout for your management mistakes, you would probably be fired. Our financial oligarchs are all still there, making the same mistakes as before. This is a fucking large failure of political economy.

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Where Is the Mortgage Bailout? If Only the Banks Needed It

It recently came to light that the Federal Reserve gave secret loans of more than $1.2 trillion to more than 300 financial institutions to keep them from collapse. Add on another $700 billion from TARP, and that was $2 trillion … Continue reading

Posted in Corruption, economy, Government, Justice, Politics, Uncategorized, Wall Street | Tagged , , , , , , , | 1 Comment

Amazing, the Markets Recover Somewhat After the Fed Keeps Rates At Zero

It’s almost like the economy is, in fact, doing poorly and actions by the the government to do something about it is reassuring to investors. Who knew.

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