The Economic Populist
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BREAKING: Wall Street Mega-Merger!!!
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US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
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Ignoring the Big Picture/Disturbing Trend in Graphs
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The war on the middle class
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BREAKING: Wall Street Mega-Merger!!!
- 23370 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 183944 reads
Ignoring the Big Picture/Disturbing Trend in Graphs
- 30889 reads
The war on the middle class
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The Golden Rule
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Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
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New York Post Claims Census Falsifies Unemployment Figures
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How Many Jobs Are Needed to Keep Up with Population Growth?
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VAT or Value Added Tax is Getting a Look in D.C.
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U3 and U6 Unemployment during the Great Depression
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The war on the middle class
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House discusses 401k/IRA confiscation
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Tax Cuts for the Rich Do Not Generate Jobs
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I appreciate all your efforts putting this information together, but your graph seems a little out of step. How can there be more people about to lose benefits in Wyoming than in NJ. Is there a chance that graph could be tightened up to reflect the true nature of each state?
If you want to read some of the stories of the long term unemployed, you may want to visit: http://www.layofflist.org/2010/10/28/one-99er-loses-a-battle-to-foreclos... and http://www.layofflist.org/2010/07/23/tier-5-and-extended-unemployment-be...
Thanks again for efforts to keep the unemployed in your excellent economic postings.
Thanks! Even Warren "the just" warned about those, although he's stopped since getting a piece of Goldman Sachs. We're still feeling the impact of the sub prime derivatives and other mortgage backed securities. What about Credit Default Swaps, which far exceed the MBS market? We saw the European experience with that.
If there were serious reform, derivatives would have been on the table and out of the market. That's, imho, the greatest failure of the 111th Congress, even though the issue was never fully articulated.
Buffett thinks were fools. I find that absurd and offensive.
Nice touch. Buffet make out like a bandit on the Goldman Sachs deal. But in terms of getting them to pay the American people back, I'd like to start with those AIG payouts. It's just astounding we have nothing, no criminal charges, no firings, no demanding the money back, on those AIG CDS payouts. Of course even more astounding is how derivatives were not even really regulated even though they are the root cause of the financial meltdown. Notice how they have disappeared from the public dialog.
More mealy-mouthed
We have, GOP arguing insanity claiming Democrats will "raise taxes" demanding taxes not be raised on the rich. This is such an easy fix to increase the amount for $200k to say $750k a year.
We have Democrats, insisting on passing the "Dream Act"/"amnesty", claiming it's for just the kids who were brought by the parents illegally. Not so, the age limit is 35. Most border hoppers are under the age of 35.
They are doing this instead of pushing for a directly jobs program or say doing something about offshore outsourcing.
We have a national emergency with this unemployment rate and this is what they are up to, their constituents, illegal immigrants and the super rich.
And now we are supposed to have the clowns set policy? I wouldn't trust them to wax my car. Come to think of it, I said the same thing about Paulson and Geithner. Maybe they are the antithesis Hegel and Marx were talking about.
This is a good first step. However, the Justice Department needs to start prosecuting the banksters responsible for fraudulent, predatory mortgage terms too.
Crazies and clowns who play politics over the national interest. It's almost like insulting "Jesus" to say we need a better form of federal government but it's so screwed up.
We've had four years of a Democratic Congress and it's been dreadful. Now we've got the brand new Republican House of Representatives. It will be dreadful too but with a flavor of the bizarre.
It's going to get very strange.
Robert, check with your accountant, but I believe to qualify for favorable long-term capital gains treatment you must hold the stock 1 year or more, otherwise gains are taxed at ordinary rates for an investor. The rates will vary depending on your income tax bracket.
For a dealer, stocks are considered inventory and short term and long term gains and losses taxed at ordinary income rates.
I agree with you about targeting favorable tax treatment to U.S. based businesses that create jobs (and taxpayers) here in the U.S.. Give healthy credits based on a company's "on-shore" payroll presence, with healthy credits for capital investment and R & D costs incurred and carried out "on-shore".
I would also like to see a tax on current assets (cash, marketable securities, and account receivable). If we forced these big corporation to spend some of that cash they are hoarding on some tax advantaged capital projects here in the U.S., maybe that would get the ball rolling.
But for millionaires like Lindsay Lohan(pop-idle star), Maddonna, Lebron James (basketball player) and 1000's of other sports and entertainment millionaires that do not significantly employ others, well, raise the tax rates on these people. Everyone knows more than half of these Hollywood types spend it foolishly anyway, and the sport star can't seem to stay out of the nudey bars. Maybe if they didn't have so much money it would keep them out of rehab facilities and other sorts of trouble.
If you notice, obviously, not a fan of Bernanke or the Federal Reserve (sans the other guys, but the main, hell no), for the buying up of "toxic assets" but on this one, Bernanke is right on the money and it's really good news to see a Federal Reserve chair come out so forcefully on the situation (ya know they have a tendency to be subtle, codespeak).
The entire thing is dead on. Krugman is right in my view, I know that hyperinflation freak out and a weaker dollar is another freak out and I am not thrilled that this cheap money is going to fun growth abroad at all (carry trade)...
but what is the Fed gonna do when Congress or this administration refuses to act (Treasury)? I mean what choice do they have?
The last line was a Bernanke version of Greenspan speak for: I support stimulus to regain health in our economy and increase revenue. Which is the best deficit reduction of all. Yes?
Krugman today. What do you think?
Axis of Depression
Three different opponents to the Fed's policy. Two want to help their own country's standing to gain politically. One wants to hurt their country's standing to gain politically.
The Republicans are going to take this country in exactly the wrong direction with the help of their mis-informed voters. Who is going to educate the voters that some form of the "American System" is in their best intersts? Move-on?
I think this has to be done. It will make people think long and hard about their politics and what they want from this country.
Also, I know people who are working under the table and still receiving benefits. I bet it happens a lot.
I get favorable treatment because I have a high credit score (surpise -- I don't need it) and I understand that people with low credit scores have to pay more for car insurance. It seems wrong that your money is worth less than mine in the insurance market -- it seems a scam to punish the poor. FICO has nothng to do with driving skill or loss risk. In fact, those with high credit scores may have greater risk because thy have more to lose. FICO -- how about RICO?
The idea of a state having its own bank is not a socialist idea at all. In fact, what ND is doing is about as capitalist as you can get.
I just came back from a job interview at Walmarts. The interview went well and the first interviewer said she had to plug in some numbers and then I would have a second interview. No such luck!
I am slightly disabled and have a low credit score due to medical problems with my husband and myself. We also had to short sale our home last year.
Back to walmarts,
About 5 minutes went by and the first interviewer came by and stated there are more people to interview for the job and based on the scores they would be calling people. I knew the minute she said this that I will not get this job due to my credit score. Before the interview when we were walking to the area she was to interview me she told me they were four people short and really needed people.
This is so unfair; there seems like something could be done about this. I may as well forget about looking for a part time job. The reason I need one is to pay some of these bills on my credit report. Thanks alot Walmarts!
They should be giving workers pre-IPO stock to make up for the cuts and I don't know if they did that or not. If you see that, or to the unions as well, let me know...else, it's another worker squeeze for shareholders activity.
The workout looks promising, especiallly if they can zero-out their pension underfunding. Had the pension fund failed, the load would have landed on taxpayers. Next issue is Chrysler -- after the screwing the bondholders took in the bankruptcy (some of those bondholders were pension funds), one is tempted to ask how Daimler came out in all of this.
and it's pretty clear to me that's what's killing this economy. EU is all up in arms over's Greece's unemployment rate and in the U.S. they are now predicting 10% unemployment all the way until 2013! We're creating an entire generation of homeless when those same people should be sitting in nice middle class careers.
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