Obamacare 2017, June 1st, 2017

h More Price Hikes Likely for Obamacare Insurance Markets Early moves by insurers suggest that another round of price hikes and limited choices will greet insurance shoppers around the country when they start searching for next year’s coverage on the … Continue reading

The real economy, May 13th, 2017

What does the financial services industry actually do? Financial intermediaries primarily deal with each other by moving money around in complex transactions, to a large extent through securitization, in which assets are transformed into securities and resold countless times. By … Continue reading

H-1B visas screwing US, April 9th, 2017

Not only have tech giants like Apple and Google engaged in what a federal court called an “overarching conspiracy” to prevent wage competition, but Silicon Valley firms also abuse H-1B visas to bring in immigrant competition at lower wages, a … Continue reading

Amazon Job Killer, March 18th, 2017

Last week, the National Academies of Sciences, Engineering and Medicine released a broad report spelling out the expected impact of automation on productivity, employment and income. While new technologies have always posed a threat to specific jobs, “simultaneous automation of a … Continue reading

Future of the Coal Industry, December 11th, 2016

The Coal Industry Isn’t Coming Back By MICHAEL E. WEBBER NOV. 15, 2016 Austin, Tex. — Donald J. Trump made many important campaign promises on his way to victory. But saving coal is one promise he won’t be able to keep. … Continue reading

One in seven Americans lives below the poverty line…, September 18th, 2016

Could it happen to you? Meet the average Americans forced into poverty by accidents, ill-health or tragic misfortune in searing photo essay exploring the crisis of the country’s hidden poor While one in every seven Americans lives below the US … Continue reading

The new economy 1099, January 21st, 2016

Rocky stock markets currently resemble a “game of chance” as “nobody knows” where they will go from here, billionaire investor Mark Cuban said Wednesday. Continue reading

Obama economy, August 13th, 2015

DES MOINES, Iowa (AP) — Food banks across the country are seeing a rising demand for free groceries despite the growing economy, leading some charities to reduce the amount of food they offer each family. Continue reading

GOOD Advice, July 30th, 2015

IdaTarbell1 2:56 PM EDT [Edited] Drop cable/Sat and your home phone, keep at least 1 meg of internet speed, replace phone with a voip phone from the net that is better than your home phone with no number in the … Continue reading

Robots – screwing US, July 3rd, 2015

Robots to replace almost half of jobs over next 20 years: expert Forty-seven per cent of jobs in the US will be overtaken by computers in the next decade or two, according to research. Photo: Generic Thinkstock History is full … Continue reading

H-1B visas screwing US, June 20th, 2015

Not only have tech giants like Apple and Google engaged in what a federal court called an “overarching conspiracy” to prevent wage competition, but Silicon Valley firms also abuse H-1B visas to bring in immigrant competition at lower wages, a … Continue reading

Gross Income Inequality, May 5th, 2015

http://cnsnews.com/news/article/ali-meyer/1-5-families-us-no-one-works Now, more than 20 years after NAFTA and 14 years after China joined the World Trade Organization, there is no real question among economists that expanding trade has been good for the world and has helped reduce poverty. It … Continue reading

California Drought, April 2nd, 2015

California Drought Could Wipe Cities Off Map If Their Water Runs Out http://sacramento.cbslocal.com/2015/07/28/california-drought-could-wipe-cities-off-map-if-their-water-runs-out/ Rick Jackson treads through the debris-laden flow of the Kings River as water runs along its parched floor for the first time in six months. Fishermen are … Continue reading

Keystone Pipeline Facts, February 1st, 2015

FACT CHECK: Both sides in Keystone XL debate bend facts Supporters of the Keystone XL pipeline, which would run from Canada to the Gulf of Mexico, say the privately funded, $8 billion project is a critically needed piece of infrastructure … Continue reading

ALL you need to know, January 11th, 2015

Between 2010 and 2012 the top 1 percent of American households took in nearly all of the income growth–95 percent. And they had 43 percent of the natiopn’s wealth. The bottom half of the population was left with a pittance–just 1.1 percent of the wealth–to divide up. Continue reading

Job Market Reality, October 5th, 2014

Jobless Rate in U.S. Falls Below 6% as Hiring Picks Up Ross Salinger Carlsbad Ca 14 hours ago When I was young, they wanted young people so I got hired. After 10 years everyone wanted people with ten years so … Continue reading

Reality for Millenials, April 15th, 2014

Readers discuss the huge disparity in pay between top executives and most workers. www.nytimes.com/2014/04/06/opinion/sunday/a-fairer-pay-system.html BARBARA J. PERENIC | DISPATCH Roberta Garber, an assistant vice president of the Columbus Metropolitan Housing Authority, said many people who have jobs “are not making … Continue reading

Endless Energy in Asia, March 24th, 2014

Nuclear fusion – zerocarbon electric power produced from sea water in a doughnut-shaped reactor that imitates the sun – is also far closer to a reality than most people think. It could stop man-made global warming once and for all … Continue reading

Oil Prices means speculators, March 4th, 2014

U.S. demand for oil and refined products — including gasoline — is down sharply from last year, so much that United States has actually become a net exporter of gasoline, unable to consume all that it makes Continue reading

American Capitalism, January 28th, 2014

Where Have All the Raises Gone? The findings help to explain the trajectory in wages for workers with bachelor’s degrees. From 1979 to 1995, their average pay rose modestly, by 0.46 percent on average annually, while wages declined for the … Continue reading

Bad Economy and the rich, November 27th, 2013

There are more than 22,000 homeless children in New York, the highest number since the Great Depression. This is one of their stories. www.nytimes.com/projects/2013/invisible-child/#/ Wal-Mart is the world’s largest retailer, with 2.2 million employees, 1.3 million of whom are in … Continue reading

Screwing US, October 4th, 2013

October 28, 2010, 9:01 pm On Wall Street: All Reward, No Risk By WILLIAM D. COHAN For the life of me, I can’t figure out why Wall Street bankers, traders and executives get paid so much money year after year … Continue reading

Backward with Obama, August 12th, 2013

Is President Obama the victim of bad economic advice? The evidence points to “yes”. The president’s economic initiatives – food stamps, manufacturing, infrastructure, raising the debt ceiling, appointing a new chairman of the Federal Reserve – have mostly ended in … Continue reading

Opinion about Fracking, August 9th, 2013

George Mitchell, a Pioneer in Hydraulic Fracturing, Dies at 94 www.nytimes.com/2013/07/27/business/george-mitchell-a-pioneer-in-hydraulic-fracturing-dies-at-94.html The Right Way to Develop Shale Gas By MICHAEL R. BLOOMBERG and FRED KRUPP APRIL 29, 2014 LISTENING to the polarized energy debate in the United States, you might … Continue reading

Energy Issues, May 8th, 2013

Dairy Finds a Way to Let Cows Power Trucks www.nytimes.com/2013/03/28/us/dairy-finds-way-to-let-cows-power-trucks.html U.S. oil reserves rise to highest level since 1985 www.washingtonpost.com/business/economy/us-oil-reserves-rise-to-highest-level-since-1985/2013/08/01/881d2a7c-fad9-11e2-a369-d1954abcb7e3_story.html Chapter 6: Coal jobs gone, perhaps for good Published: June 16, 2013 By Bill Estep and John Cheves A coal … Continue reading

American Dream in trouble, November 12th, 2012

Today, America’s largest employer is Walmart, whose average employee earns $8.81 an hour. Continue reading

European Affairs Greece, November 1st, 2012

Which politician will be brave enough to tell voters the days of abundance are over? Continue reading

Internet Issues cyber-warfare, October 15th, 2012

Obama signs secret directive to help thwart cyberattacks www.washingtonpost.com/world/national-security/obama-signs-secret-cybersecurity-directive-allowing-more-aggressive-military-role/2012/11/14/7bf51512-2cde-11e2-9ac2-1c61452669c3_story.html Panetta Warns of Dire Threat of Cyberattack on U.S. www.nytimes.com/2012/10/12/world/panetta-warns-of-dire-threat-of-cyberattack.html Why it matters: Without warning, the electricity goes out, leaving you and your family in the dark for days, perhaps weeks. … Continue reading

Dreams Deferred Dayton OH, October 10th, 2012

‘Chronically at risk of falling into poverty’: Nearly HALF of all Americans severely struggling to make ends meet 45% of U.S. citizens don’t have enough money to cover basic expenses www.dailymail.co.uk/news/article-2065274/Chronically-risk-falling-poverty-Nearly-HALF-Americans-struggling-make-ends-meet.html Unemployment rate ticks up to 8.2%, 69K new jobs … Continue reading

State of the Economy, September 9th, 2012

Unemployment falls to 8.1 percent; August jobs number below expectations Continue reading

Energy Independence Happy Fourth, July 4th, 2012

Deep-water technology enabled Brazil, which for years depended on oil imports, to become a net exporter in 2009. Continue reading

Class warfare Facts, May 31st, 2012

For example, the share of households living on more than $200,000 a year was unchanged from 2009 to 2010. Meanwhile, households getting by on less than $35,000 a year grew as a share of the area population. “The rich are … Continue reading

Middle Class economy 21st cen, May 12th, 2012

The Fortune 500 generated a total of $824.5 billion in earnings last year, up 16.4% over 2010. That beats the previous record of $785 billion, set in 2006 during a roaring economy. Continue reading

The Rich Get Richer, April 1st, 2012

An imbalance between rich and poor is the oldest and most fatal ailment of all republics.
Plutarch

The causes which destroyed the ancient republics were numerous; but in Rome, one principal cause was the vast inequality of fortunes.
Noah Webster Continue reading

Divided State of America, March 9th, 2012

A significant and growing portion of the population lives in poverty. In 2007, the rate was 12.5 percent. By 2010, it was 15.1 percent. www.washingtonpost.com/opinions/the-poor-are-the-americans-no-one-wants-to-talk-about/2012/01/18/gIQADZM5BQ_story.html Third world America: Bodies driven to a pauper’s burial in a U-Haul as tough economic … Continue reading

Dick Morris spins Bain Romney, February 14th, 2012

“Crony capitalism, where people pay each other off at the expense of the people of this country, is not free enterprise, and raising questions about that is not wrong,” Gingrich said in South Carolina. Americans, he said, should know whether … Continue reading

Mitt Romney Bain Capital 2012 election, January 2nd, 2012

Romney’s role at Bain was not to create jobs but to provide for good returns for his investors. For more on this subject, look at our examination of Romney’s untenable figure. www.washingtonpost.com/blogs/fact-checker/post/fact-checking-the-cnn-debate-in-charleston/2012/01/19/gIQALs8dCQ_blog.html These are intelligence indicators concerning the economy’s future … Continue reading

Manufacturing creates wealth, December 12th, 2011

Manufacturing in Ohio bounces back After a long, painful slide, companies are again adding jobs to the economy, setting the stage for what some see as a renaissance in the sector By Mark Williams The Columbus Dispatch • Friday March … Continue reading

The FED is private, December 11th, 2011

The quote below describes what happened. It started out as a real estate boom and bust, driven by ultralow interest rates and a bubble in credit and lending….It then slowly morphed into a full-blown credit crunch, where commercial lending ceased. … Continue reading

laissez faire capitalism – Where are the good jobs?, October 21st, 2011

jhherring wrote: Orthodox conservatism has long held that the collapse of the USSR was inevitable (though sped by Reagan’s policies) because of the internal contradictions of socialism. The internal contradictions, which mean that true socialism will inevitably fail, are real … Continue reading

Middle Class Stories Change for the American Dream, October 20th, 2011

Middle Class Stories Structural Change for the American Dream Sad stories abound in the news about fellow citizens who have lost their place in society. Through no fault of their own, once prosperous middle class professionals and the working class … Continue reading

Facts about Financial MELTdown, September 20th, 2011

Absence of individual and institutional accountability for illegal trading activity, along with congenital greed, accounts for the culture of corruption that pervades the financialization industry. Unless you’re a rogue trader or slip on your ego like Bernie Madoff, penalties are … Continue reading

Middle Class fACTs, September 6th, 2011

People are more important than profits. Families are more important than market share. UNEMPLOYMENT by state graphic http://www.guardian.co.uk/news/datablog/interactive/2011/sep/08/us-unemployment-obama-jobs-speech-state-map?INTCMP=SRCH “Nearly one in three Americans who grew up middle-class has slipped down the income ladder as an adult, according to a new … Continue reading

Facts about High unEmployment, July 13th, 2011

U.S. Payrolls Grow at Slowest Pace in Nine Months as Jobless Rate Climbs By Shobhana Chandra – Jul 8, 2011 4:32 PM ET www.bloomberg.com/news/2011-07-08/u-s-payrolls-rose-18-000-in-june-jobless-rate-climbed-to-9-2-.html The spoils have really gone to capital, to the shareholders, said David Rosenberg, chief economist at … Continue reading

People Need Good Jobs, June 3rd, 2011

In a previous post, this blog confirmed the fact that the economy was essentially going no where. The latest job growth figures confirm that April conclusion. Due to uncertainty, oil prices based based on speculation rather than demand, and health … Continue reading

How Did We Get Into This Mess, May 9th, 2011

No real mystery here, just fill in the blanks — greed, cupidity, avarice, no sense of community loyalty, quarterly profits, lack of strategic foresight, self-interest instead of the common good. People on food stamps Christianity failed in the fourth century … Continue reading

Economic Recovery – What Recovery?, April 29th, 2011

Is the nation headed for a McRecovery? By Annie Lowrey, Saturday, April 23, 5:05 PM McDonald’s named Tuesday “national hiring day.” As with everything McDonald’s, it’s all about scale. In one day, the chain hoped to add as many as … Continue reading

Ronald Reagan Tax Review, April 24th, 2011

Democrats, oops, progressives, make me laugh. They entertain noble and politically correct notions of moral superiority with their attitudes toward social issues regarding gay rights, illegal immigration (is it a red and white striped ambulatory device or a candy cane?) … Continue reading

European Economics – Russia – Germany – France – Italy, March 26th, 2011

We are not safe doing business in Russia Employees are in constant danger of being harassed, arrested and killed, writes William Browder. By William Browder 7:21AM GMT 14 Feb 2011 Today, Sergei Lavrov, the Russian foreign minister, arrives in London … Continue reading

Facts about Taxes, February 14th, 2011

Google, Amazon and Starbucks Face Questions on Tax http://abcnews.go.com/Business/wireStory/google-amazon-starbucks-face-questions-tax-17699523#.UKzE2eQ72uo Starbucks, Amazon and Google accused of being ‘immoral’ Amazon, Google and Starbucks were yesterday accused of being “immoral”, “manipulative” and of “practising tax avoidance on an industrial scale”. By Helia Ebrahimi, … Continue reading

Education Means Individual Achievement, December 1st, 2010

Quads celebrate UK first as all simultaneously graduate with Masters degrees from same university Fabulous foursome! (Left to right) Tolu, Toks, Temi and Tobi have walked away with degrees and City jobs www.dailymail.co.uk/news/article-2088527/Quads-celebrate-UK-simultaneously-graduate-Masters-degrees-university.html Neighborhoods, like the lives of people, can … Continue reading

Unfair Competition equals Free Trade, November 27th, 2010

All I Want in Life is an Unfair Advantage Hank Greenberg CEO AIG Tax breaks. Donated land. Free education for the workforce. Free roads and sewers. Sound like government intervention? Sound like Socialism? No, it’s normal interaction between state and … Continue reading

Job Scams, October 31st, 2010

Job scams proliferate by offering easy pay Those desperate to make money fall for swindlers’ schemes Sunday, October 31, 2010 03:00 AM By Stuart Pfeifer LOS ANGELES TIMES LOS ANGELES — A weak labor market is hurting the U.S. recovery, … Continue reading

Jobs Jobs Jobs, October 25th, 2010

Jobs are tight. Unemployment is scary, yet people cope. Many men and women in middle age have become too old to rehire; younger workers with children and aspirations are too young to retire. The unemployed place their hopes in a … Continue reading

Kevin Phillips Predicts Future, October 14th, 2010

Back in the early 1990s, Kevin Phillips examined the angst of the middle class in his work Boiling Point. Phillips described the decline of the middle class which began during the Reagan and George Bush administrations. From the February 1, … Continue reading