The Observer/Comment is Free, By Will Hutton, April 12
Suddenly, there is a new economist making waves – and he is not on the right. At the conference of the Institute of New Economic Thinking in Toronto last week, Thomas Piketty’s book “Capital in the Twenty-First Century” got at least one mention at every session [...]
The Baffler, By Chris Lehmann, The Baffler No. 24, 2014
By any reasonable measure, the neoliberal dream lies in tatters.
In 2008 poorly regulated financial markets yielded a world-historic financial collapse. One generation, weaned on reveries of home ownership as the coveted badge of economic independence and old-fashioned American striving, has been plunged into foreclosure, [...]
The White House announced today that the site for the Obama Presidential Library will be built in multiple cities, with multiple wings to the library, to continue the momentum of bipartisanship started under the Obama Administration.
A White House spokesman said :
We’re providing the list of cities and wings we can identify. In keeping [...]
It is becoming clearer what will be the likely cause of the next financial crisis. In a recent report to US banks issued by the Office of the Comptroller of the Currency (which regulates more banks than even the Fed does), the OCC has cautioned banks to limit their lending to highly-leveraged corporations. Further, the [...]
At an east coast cocktail party several weeks ago, a reporter asked a CEO what he feared most in regards to the global economy. The billionaire, who asked to remain anonymous, replied, “the guillotine”.
When even the hyper-wealthy are looking anxiously over their shoulder, something is badly wrong with the economic order. For several years [...]
It is not surprising that Rush Limbaugh, spiritual leader of the Republican Party – the man who determines Republican ideology and who enforces obedience to orthodoxy within the party – now finds Pope Francis a “Marxist”. Pope Francis, spiritual leader to over one billion Catholics, has issued a direct assault on the [...]
Warren proceeds to calmly recite numbers that could inspire even librarians to storm a few barricades. The Wall Street crash has cost the US economy $14tn, she says, but its top institutions are 30% larger than before, own half the country’s bank assets and are in receipt of an implicit taxpayer subsidy of $83bn [...]
2013 is proving to be a hectic year for corporate lobbyists and free trade advocates, as they frantically flit, like busy bees pollinating succulent orchids, from one global free trade conference to another. And at long last, it seems that their hard work appears to be paying off.
In the last month alone world leaders [...]
RawStory/CleanTechnica, By Mridul Chadha, September 30
In a startling revelation, Greenpeace India has claimed that the world’s largest coal miner, and essentially India, could run out of recoverable coal reserves within 17 years. Coal India Limited is the world’s largest coal mining company and enjoys a monopoly in the Indian coal sector.
The Indian government [...]
We all lie, to some degree. But not all lies are created equally.
My dad once said the worst kind of lie is when you lie to yourself.
We, collectively, the United States of America, are lying to ourselves on so many fronts, I don’t know where to begin.
This is the way you do it:
Beijing (CNN) — Dozens of Chinese workers angry over a pay dispute have held their U.S. boss hostage for five days, the American businessman said.
Chip Starnes, co-founder and president of Specialty Medical Supplies China, has been trapped in the company’s suburban Beijing factory since Friday. He told [...]
I have an idea that might help ease the transition from the “Quantitative Easing” (QE) policy of the Fed over the past five years to a more free market oriented capital market. More after the break:
Here in the U.S., one thing is clear: The market is so accustomed to stimulus from QE that it [...]
Inside this rather boring if frightening story about the problems at hedge fund SAC Capital, lies this sentence (highlighted):
A legal deadline looms for prosecutors to bring a criminal case against Mr. Cohen related to charges against Mathew Martoma, a former SAC portfolio manager accused of illegally trading in the shares of two drug companies, [...]