Tag: economy

It would seem so.  America leads the list of OECD nations in low-wage jobs: Schmitt writes: “Not only are low-wage workers likely to stay in low-wage jobs from one year to the next, they are also more likely than workers in higher-wage jobs to fall into unemployment or to leave…

The blathering in the right-wing echo chamber that the “stimulus” didn’t work continues to defy both logic and facts.  The logic that G is an important part of GDP (where GDP = G + I + C + NetE) continues to confuse them.  And the facts are that more people are employed…

Autocracy arrives in Europe. When Wolfgang Schäuble proposed that Greece should postpone its elections as a condition for further help, I knew that the game would soon be up. We are at the point where success is no longer compatible with democracy. The German finance minister wants to prevent a “wrong” democratic choice. Similar…

Great review of the crisis in Europe by Irish economist David McWilliams!  McWilliams has worked as an economist with the Central Bank of Ireland and as a banker with UBS bank and the Banque Nationale de Paris.  He currently does documentary television. Listen for the bit around 7:30 where McWilliams…

Everything Ultimately Costs What It Costs :: EUCWIC. I am not the consummate economist like our prolific Phil Scarr! Although I look forward to his posts on economics and despite my classwork in economics, I tend to feel my eyes glaze over and hear my head scream: ‘Just show me…

Once again, the Financial Times comes up with an OpEd that so adroitly brings order from the financial chaos swirling around us.  In this case, Kishore Mahbubani, Dean, Lee Kuan Yew School of Public Policy, National University of Singapore, and author of The New Asian Hemisphere, calls out the bankers for…

Angry Bear is one of my favorite economic blogs and Ken Houghton is one of my favorite economic bloggers.  He calls ’em like he sees’ em.  In this case, he sees profound macroeconomic stupidity from Bernanke and Tim Geithner.

Holy mackerel! Bruce Bartlett, economic advisor to Ronald Reagan and George H.W. Bush makes a surprisingly strong case for Keynesian fiscal stimulus.  He also says that, between Obama and Congress, it’s never going to happen.  He dismisses the idiocy of regulation as causing the lack of aggregate demand. “We should…

Alan Grayson for President!  He get’s it.  Here’s former Congressman Grayson on Real Time.

In 2008 when President Obama assembled his economic team to help deal with the growing financial crisis, even their worst nightmare scenario woefully underestimated the depth of the economic collapse.  Their failure is now our failure.