Blogs

The Late, Great Taper Starts With Low Interest Rates as Far as the Eye Can See

Wall Street was all aghast that their quantitative easing was about to disappear.  The FOMC decided to taper in January and now stocks soar.  Why?  Because the taper is minimal and the FOMC announced the federal funds rate will remain an effective zero for much longer than previously estimated.

Congressional Scrooges Deny Unemployment Benefit Extension

The latest budget deal does not extend unemployment benefits for some of the long term unemployed.   This means without some Congressional action, unemployment benefits will only be available for 26 weeks in 2014.  The current average time to be officially unemployed is 37.2 weeks, far exceeding the time one can receive regular unemployment insurance benefits in most states.

Employment Stats Misleading

The payroll jobs report for November from the Bureau of Labor Statistics says that the US economy created 203,000 jobs in November. As it takes about 130,000 new jobs each month to keep up with population growth, if the payroll report is correct, then most of the new jobs would have been used up keeping the unemployment rate constant for the growth in the population of working age persons, and about 70,000 of the jobs would have slightly reduced the rate of unemployment.

Volcker Rule Gets Poor Marks Out of the Box

What is the Volcker rule?  The headlines in the press describe a nebulously defined financial regulation as being the second coming of financial reform  Yet the only thing clear about the Volcker rule is who it is named after, former Federal Reserve chair Paul Volcker.  The Volcker rule was a last minute financial regulation rule in an attempt to stop speculative trading by Wall Street.  It has been politicized, lobbied against, delayed, watered down and modified heavily.

The Latest Never Ending Adventures in Corporatism Via the TPP

What a world, what a world, what a world.  Wikileaks has published more secret Trans-Pacific Partnership Agreement documents, revealing more and more how the United States represents large corporations and not the citizens of the nation.  The Huffington Post said it best.  They published a large front page photo of President Obama with the glaring headline, Company Man.

Busted and Bankrupt Detroit Can Now Wipe Out Worker Pensions

It is official.  Detroit is bankrupt.  Detroit is not only bankrupt they can now trash pensions owed to city workers.  That is police, fire, hospital and a host of workers counting on those pensions for retirement.  The U.S court ruling allows for a bankruptcy type for cities and towns, Chapter 9, to proceed and specifically puts pensions on the fair game bankruptcy chopping block.

Worker Wage Inequality Myth Exposed

In America today there is a crisis.  That crisis is economic inequality.  The U.S. workforce has been blamed and dismissed for the growing gap between rich and poor.  Much effort has gone into blaming the victim.  Americans have been called fat, lazy and stupid along with the never ending drumbeat claim U.S. workers are uneducated and do not have enough technological skills.

Obamacare Ain't Lookin' Too Caring

Are you confused about Obamacare?  Sick of listening to spin when your life is on the line?  We thought so.  It is still difficult to obtain a concise, clear picture on what is happening to America's health care.  We gather below a few critical snippets of information which point to more impending disaster for the individually insured.

 

Pages