works every time
A super PAC backing Rand Paul's presidential candidacy raised $3.1 million in the first half of 2015, with two-thirds of the total coming from just two donors: George Macricostas, the chairman and CEO of a RagingWire, a data center company, and Jeff Yass, the owner of Susquehanna Partners, an investment firm.
Reich is a phony economist. It bis easy to spot a phony. When they talk about income inequality they never talk about the #1 reason for income inequality, the Federal Reserve printing trillions for Goldman Sachs, federal government, Citi, JP, Well Fargo, and the other parasites, like Reich himself a parasite.EPer: econ101 (not verified)
College grads lose jobs, have them offshore outsourced right and left and age discrimination is an institution. NYT simply is not "the source" more the Financial Times, or Wall Street Journal, MarketWatch etc. are better sources. NYT gets it oh so wrong and where is the study here? I don't see any.
From New York Times: "Gap Widening as Top Workers Reap the Raises"
A recent survey by CareerBuilder found that 37 percent of employers were hiring college graduates for jobs that once required only a high school diploma. The great exception to this trend is for holders of degrees in the so-called STEM (science, technology, engineering and mathematics) fields. Of course, even STEM graduates can lose out, finding that the skills they learned in school are becoming obsolete in rapidly evolving specialties like social media.
Some blue-collar workers who lack a college degree but have specific skills are better off than college graduates who do not. Anthony P. Carnevale, a Georgetown University professor who runs the Center on Education and the Workforce, says: “If you have an associate’s degree or a certificate in a technical field like heating and ventilation, machine repair, carpentry or plumbing — you’ll do better than the average B.A. holder, both at the beginning and 10 years out of school.”
"In the second half of 1990s, potential growth reached about 3½ percent, but since early 2000s, it started falling."
The same year the labor force participation rate began to decline -- the same year Bill Clinton gave PNTR to China.
"CNBC was on in the gym, so I was treated to a long ad from Ron Paul, who wants you to buy his video explaining the coming crisis brought on by loose money. And I found myself thinking about the remarkable fact that there really are people who will buy that video ... I’d say it’s sad, but I find it hard to feel much sympathy for the marks of this particular scam. Then again, that’s probably why they will never, ever listen to what I have to say."
From Dan Phillips : "Our time is coming, and no one will be able to say we weren’t warned".
The ancients had "jubilee". A forgiving of debt and return to a normalcy. So it has been going on for thousands of years. The world's financial policies are treating people as disposable. Money is a resource and money is being hoarded. The solution is profit through people not negotiations. The risk involved in lending money is being ignored. Risk is involved initially in all dealings. In monetary debt when the risk is realized then it becomes incidental. The lender then takes the attitude that there was no chance of default and the debt must be paid. Initially basing actions on risk and now saying risk is not relevant. It is coming, it is inevitable. The first stand can be harsh but it needs to be mitigated.EPer: Chet Ruminski
Google a New York Times article titled: "D.N.C. Lifts Ban on Convention Fund-Raising"
"The Democratic National Committee will lift its ban on donations from political action committees and lobbyists...highlighting the coming shift within the party as it moves from being led by an incumbent president to its next nominee...officials at the White House this week approved of two carve-outs to the ban...
Allowing PAC and lobbyist donations to the joint fund-raising committee was something that Hillary Rodham Clinton’s campaign encouraged ... Mrs. Clinton has spoken openly about her frustration with the way that Jeb Bush ... raised funds for his so-called super PAC...The concern within her Brooklyn-based campaign headquarters is that she will be heavily outspent on the Republican side..."
He's picking on these very corporate corrupt politicians and it has me rolling on the floor. Raise hell, good for him.
So gee, Trump acknowledges single payer health care is good for business, the most efficient, effective, cheapest and says so what socialism it works to get for profit out of health and have it be a public benefit, as it should be.
Should be interesting on these never ending ridiculous tax agendas, regressive taxes.
I did hear one thing from conservatives which really had a point, one cannot start any program without it becoming corrupted almost immediately. That's not mentioned much with FDR and Francis Perkins, they quietly got corruption out and why their new deal programs worked. They did manage to get the money to the people instead of the deep corrupt pockets of businesses and political donors.
Can't make a program that can't be spun into abusive self interest. Job training in an economy driven to improve numbers by cutting costs is simply culling under trained workers. Government provided program in anti labor climate improves profit margin, not creates jobs.EPer: Chet Ruminski
"sluggish wage growth" is because "they can". Employers import foreign workers, fire older workers because they are perceived to be more expensive, use illegal labor and offshore outsource anything not nailed down.
The rest of this is just corporate press release copy. EP doesn't "do" corporate press release copy.
In response to the Atlanta Fed's post (Have Changing Job and Worker Characteristics Restrained Wage Growth?) MarkThoma at CBS concludes in a new post (The mystery of sluggish wage growth) :
"Changes in workforce composition driven by either the recession or technological change -- both of which are often suggested as reasons for the lack of wage growth -- do not appear to provide the explanation for stagnant worker incomes."
Now I'm confused. So then, what is "the mystery of sluggish wage growth"?
Is it one or a combination of these reasons:
1) rehires moving into lower-paying occupations
2) new technology eliminating middle-class jobs
3) lack of education/skills
4) demographics (older workers depressing wages)
5) a decline in better-paying manufacturing jobs vs. an increase in low-paying service jobs
6) the offshoring of all and any types of jobs
7) an over-saturated labor force (immigration and work visas)
8) increased productivity (aka profits) are not equally going to workers, but to corporate executives
9) some of the above (and if so, which ones?)
10) none of the above
11) all of the above
12) other reasons not mentioned above (meaning, it's still a mystery)
I must say that CBS Marketwatch gets it right much more on statisics, Krugman's fine but there are so many, better financial/economics papers and Journalists out there (and they don't do some ridiculous spyware trap nightmare thing on their links, articles).
I had no problem as a visitor to this website in accessing those links, but I removed all NYT links per your request (and readers can just Google the titles I used.)
Any site which isn't a clean link, please do not put it there.
The current trend in how CEOs are paid, particularly with stock options, creates a range of economic problems.
Several studies show that equity-heavy pay, because it makes executives very wealthy very quickly, distorts CEOs’ incentives, inducing them to take on too much risk. Instead of bearing this risk themselves, they shift it onto the rest of society, as we saw during the financial crisis. This model also encourages executives to behave fraudulently.
In order to issue stock options to top executives while avoiding the dilution of their stock, corporations often divert funds to stock buybacks rather than spending on research and development, capital investment, increased wages, or new hiring.
To top it all off, these pay packages cost taxpayers billions of dollars due to the performance pay tax loophole instituted by President Clinton.
A high degree of economic inequality precipitates financial instability because it leads to, for example, a decline in consumer demand, which has tremendous spillover effects in terms of investment, job creation, and tax revenue, not to mention social instability.
The growth of executive pay is a core driver of America’s rising economic inequality.
"The case for “skill-biased technological change” as the main driver of wage stagnation has largely fallen apart. Most notably, high levels of education have offered no guarantee of rising incomes — for example, wages of recent college graduates, adjusted for inflation, have been flat for 15 years."
Thanks...great comment. I liked this too:
"Bipartisan means something so stinky bad for the common man that both parties need to support it so neither side loses too many votes."