Robert Oak's blog

Wall Street and Multinationals Get Theirs While America Suffers

While America still suffers with repressed wages, increasing poverty and a vanishing middle class, Wall Street and big Multinational Corporations are having a party.  Bonuses increased 15% and are back to their pre-financial crisis excesses  Corporations hording cash offshore increased 11.8% in 2013 to a whopping $1.95 trillion.

How to Create 5.8 Million Jobs Pronto - Stop Currency Manipulation

Want to know how to create up to 5.8 million jobs in three years?  End currency manipulation.  So says a new study released from the Economic Policy Institute.  If currency manipulation was stopped, the U.S. trade deficit would shrink by up to $500 billion in three years, annual GDP would increase up to $720 billion, the federal budget deficit would be reduced by $100 billion each year and 40% of the new jobs created would be in manufacturing.

Bye Bye Chained CPI and Other Budget Surprises

The Obama administration is finally abandoning their endorsement of chained CPI for next years budget.  The reason is probably not good economics, but political.  Election season is near and this is just one of many policies the Obama administration endorsed which raised the ire of the retired.  A refresher, chained CPI is another method to adjust for cost of living increases at a reduced rate than what is currently used, CPI-W.

The CBO Obamacare Brouhaha

The headlines blare Obamcare will cause over two million more jobs to be lost by 2017 and the losses will grow to 2.5 million jobs by 2024.  That analysis is from the Congressional Budget Office in their 2014 Budget Outlook report.  Unfortunately, the rationale behind the CBO claims are that the subsidies to buy health insurance for individuals are larger than the wages earned working full-time hours.  From the report:

Corporations Hoard Cash While Americans Go Without A Job

The amount of cash multinational corporations are stashing is at an all time high and economists are wondering why.  A recent Federal Reserve research paper examined some of the reasons.  A big one is multinationals pay no taxes on profits if they park them offshore.  A stash of cash is building and the miser pile is now a mountain.

Fifty Years Later the War on Poverty Is Lost

Fifty years ago Lyndon B. Johnson declared War on Poverty.  Great strides were made.  Between 1964 and 1965 Medicaid and Medicare were enacted, food stamps made permanent, a flurry of work and volunteer grants were passed, and educational opportunities were made more egalitarian.  Unfortunately later administrations have been tearing apart Johnson's weapons against poverty one by one.

Outsourcing Pays Big to Private Companies While Americans Suffer

Remember how outsourcing was shoved down the throats of the American people by claiming it would save money and was more efficient?  Guess what, not only is costing more, the services now provided are dismal failures.  A new report, Out of Control describes the abysmal state and consequences of outsourcing public services.

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