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 [...]
Florida Governor Rick Scott may have just one more day to veto Florida’s big-bank friendly foreclosure act, HB 87. Nearly 1,200 Floridians have signed the Veto Florida’s Foreclosure Act Petition, despite indifferent coverage by Florida’s mainstream media. We would know the exact deadline required for the governor’s veto if HB 87 appeared on the governor’s [...]
A unanimous supreme court ruled that patent agreements run with the object. This means that buying patented beans, planting them, and then finding out which ones have patented genes, requires paying the patent owner.
UPDATE May 14, 12:19 AM EDT Where is HB 87? Governor Rick Scott has not vetoed the big bank friendly Florida foreclosures law according to his 2013 Bill Action web site. In fact, the law, passed by the Senate on May 3, 2013, is not even listed on the bill action web site. Since the [...]
That’s what Blythe Masters of JPMorgan does based on evidence from the Federal Energy Regulatory Commission (FERC) and JPMorgan’s recent history. (Image: UCS)
Coal power is the leading source carbon dioxide (CO2) in the atmosphere. CO2 is the leading cause of climate change. Once airborne, the man made filth sticks around for 2 to 20 [...]
By Paul Craig Roberts
Dave Kranzler of Golden Returns declares the April payroll jobs report that was released on May 3 by the Bureau of Labor Statistics to be “fictitious.” 
Statistician John Williams (shadowstats.com) says both the jobs report and unemployment rate are “nonsense.”
I agree with both. But don’t expect the financial [...]
By Paul Craig Roberts April 28, 2013 | Original here Reposted with permission
“From the end of the recession in 2009 through 2011 (the last year for which Census Bureau wealth data are available), the 8 million households in the U.S. with a net worth above $836,033 saw their aggregate wealth rise by an estimated [...]
Cyprus just got more bad news.
Crisis-hit Cyprus will be forced to find an extra €6bn (£5.1bn) to contribute to its own bailout under leaked updated plans for the rescue.
In total, the bill for the bailout has risen to €23bn, from an original estimate of €17bn, less than a month after the deal was [...]
Neal Stephenson is what most bloggers would wish to be, able to describe the shape that people want of things to come. His Snow Crash divined the natural result of computers, aging, inter-networking, combined with a decaying post-industrial and service economy. People would root themselves in imaginative virtual worlds, and seek to hit human nerves [...]
By Paul Craig Roberts (with permission) Originally posted here
Today the stock market is high not from profits from expanding sales revenues, but from labor cost savings.
Officially, since June 2009 the US economy has been undergoing an economic recovery from the December 2007 recession. But where is this recovery? I cannot find [...]
Linguist and political activist Noam Chomsky remains as vigorous as ever at the age of 84. His popularity – or notoriety as some would say – endures because he is still criticising politicians, business leaders and other powerful figures for not acting in the public’s best interest. At the heart of Chomsky’s work [...]
Sen. Bernie Sanders has issued a statement saying that treasury secretary nominee Jacob Lew is the wrong person at the wrong time for the job.
“As a supporter of the president, I remain extremely concerned that virtually all of his key economic advisers have come from Wall Street. In my view, we need a treasury [...]