One might notice the comment, Woe to the U.S. worker when productivity metrics are reported. Over and over again, I note that offshore outsourcing is the taboo word among mainstream economists, regardless of the numbers.

Well, it seems I am not alone in that assessment. A New York Times op-ed drives home the point:

There’s a problem: labor productivity figures, which are calculated by the Labor Department, count only worker hours in America, even though American-owned factories and labs have been steadily transplanted overseas, and foreign workers have contributed significantly to the final products counted in productivity measures.

^{Sponsored by Senator Jim Bunning - Why not, he already snatched the desperate by the pubes.}

Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!

It's Friday Night! Party Time!   Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

Eamonn Fingleton is a writer and journalist who has focused heavily on manufacturing and economic development. Fingleton also called out what later would discovered to be hype bubbles,, crashes and crises. He called globalization Unsustainable and Dogma, and surprise, surprise, here we are. The real problem is why we cannot get all of these experts listened to, that said, you can listen to him!

Anyone reading our site knows that Financial Reform is nowhere and what has been passed can be described from Swiss cheese to who let the dogs out.

Well, well, us in the peanut gallery are not alone in that assessment and a bunch of experts are putting forth detailed policy proposals on what should happen. They are on a web 2.0 media campaign to get your attention and I will assume your support too.

A conference, put on by the Roosevelt Institute was held this week. The blog New Deal 2.0 has a host of videos, including the entire conference. They really are going all out on the web 2.0 stuff and even have a website, Make Markets Be Markets, just for their policy proposals and to get real financial reform.

On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.

Sometimes though, one cannot say it better but miss those who did.

Must Read Post #1

We have astounding statistics on how the financial sector has grown and how just a few of our Zombie banks control it in this detailed Naked Capitalism guest post. The combined assets of the 6 largest U.S. banks are now 63% of U.S. GDP!

^{Sponsored by Adobe Photoshop - Spin through graphing is our specialty.}

Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!

How not to use PowerPoint

On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.

Sometimes though, one cannot say it better but miss those who did.

Must Read Post #1

EPers are gonna love this one, it's a Populist rant with lots of factual references and a little conspiracy theory sprinkled on top. The Economic Elite Have Engineered an Extraordinary Coup, Threatening the Very Existence of the Middle Class:

It's Friday Night! Party Time!   Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

Below is a talk on the actual mathematical models behind credit default swaps, credit default obligations and a very "Pro" Quant MIT Professor, Dr. Andrew Lo describing the mess. Here are some slides from a talk on the same topic. Now I do blame the mathematical models themselves, sorry we've looked at the mathematics, but this guy is a Financial Engineering Professor, so listening to his views and insights one must, as well as not discredit human nature as he points out. Lo has also testified before Congress on systemic risk. Here is the actual testimony with select quotes extracted and Baseline Scenario pulling out some quotes as well.

Are Mathematical Models the Cause of the Financial Crisis in the Global Economy?

^{Sponsored by Empty Political Rhetoric - We have so much of it, can it be an export to help with the trade deficit?}

Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!

Subprime Scream Therapy

On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.

Sometimes though, one cannot say it better but miss those who did.

Must Read Post #1

Matt Taibbi has written another piece, Wall Street's Bail Out Hustle. It contains strong Populist language, has some errors additionally, but the main message, nothing has changed as well as risk is subsidized, profits are privatized is lovely. You'll like it.

Must Read Post #2

Dean Baker is helping call out the absurd tax breaks for the uber rich in Gold Plated Garbage is Still Garbage:

It's Friday Night! Party Time!   Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

First up is a very good interview of Stiglitz by trade expert Lori Wallach on the Financial Crisis. Book TV doesn't believe in embedding so just click on the image or click here to watch the interview.

^{click image to play}

^{Sponsored by Greece - What can we say, this is all we can afford.}

Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!

^{Click on image to enlarge, Src: Imaksim.com}
In the above classic, if you click here, and hover your mouse, each portrait has it's own dialog (warning, corporate conservative but funny!).

On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.

Sometimes though, one cannot say it better but miss those who did.

Must Read Post #1

There is enormous analysis on Greece and Europe out there, but Simon Johnson asks if Greece Derails, is Europe far behind? The reason you should read it is more the IMF like control message over even the political rhetoric of Greece's leaders. Now read this Wall Street Journal piece by Simon Johnson:

It's Friday Night! Party Time!   Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

You may not connect airline safety with globalization, labor arbitrage and offshore outsourcing, but....they are. The more corporations squeeze the more workers are less skilled and the more corners are cut. Why do a good job when the only thing a corporations sees is a $ sign tattooed on your forehead? Even worse how can one do a good job when corporations won't pay for the training and conditions required to do so?

With that, we bring you Frontline's Flying Cheap.

The latest report from the Congressional Oversight Panel is out and they are making no bones about another shoe to drop, Commercial Real Estate (the link goes to a post warning on CRE from last July). On their main page is this:

Nearly $1.4 trillion in commercial real estate loan debt will come due for refinancing in the next several years. The Panel's February report expresses concern that a wave of defaults and losses could jeopardize the stability of many banks and prolong an already painful recession.

Let's cut to the chase and say Congress and the Obama administration have blown off Commercial Real Estate generally. Here is COP's conclusion:

The Panel is concerned that until Treasury and bank supervisors take coordinated action to address forthrightly and transparently the state of the commercial real estate markets – and the potential impact that a breakdown in those markets could have on local communities, small businesses, and individuals – the financial crisis will not end.