The Economic Populist
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The war on the middle class
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It's time to live within our means once again
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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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The Big Short (Michael Lewis)
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The states budget crisis about to get much worse
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Jobs For U.S. Workers Stripped Out of Stimulus Bill Behind Closed Doors - Update It Lives!
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Wow! 243,000 New Jobs Created in January
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The war on the middle class
- 315325 reads
It's time to live within our means once again
- 49729 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 184640 reads
The Big Short (Michael Lewis)
- 23048 reads
The states budget crisis about to get much worse
- 23371 reads
Jobs For U.S. Workers Stripped Out of Stimulus Bill Behind Closed Doors - Update It Lives!
- 25979 reads
Wow! 243,000 New Jobs Created in January
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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 strongly suggest all those who were disappointed, disgusted with the first Stimulus, start right now pushing for legislation we need”
You still believe in government “of the people, by the people, for the people” - how nice!
I guess the economic mess we are in is just the mistake “the people” made and now that they see the mess they will(can) fix it
Great econoic statistics on this blog but I think weak on political economy.
In the spirit of Socrates - Respectfully
I agree 100% but giving money to the citizens was never part of the plan, no we can't have citizens with money in their pockets.
I don't even buy into the idea that if the institutions wouldn't have received the money, we would have had a world collapse.
I am going to go hide. Back when the S&L's were crashing and banks were taking part in regionalism, I cringed. I cringed because community banks were the heartbeat of America. I cringed because I didn't think it was good for America for such a consolidation of capital within just a few banks. It didn't go as far as I thought. Way back then I thought eventually we would have just four big banks controlling everything. It didn't get quite that bad.
messed up IT CAN make a person's head explode.
The NoVA commute will also make your head explode.
Too many things these days can do it.
A train from SF to LA. Why? Eight $billion to build it and that is an estimate. I guess they want you to see the nice scenery like Carmel and Oxnard. Are there really that many people that will be traveling between SF and LA on a daily basis to make financial sense of it? I-5 is not exactly a parking lot of cars doing the 600 mile commute. I'm not sure how many flights are going SF to LA these days. Been a long long time since I lived out there.
Now if you want to talk congestion, the mid-Atlantic and north east has it and some good train service would help. Instead Mickey is getting a free train ride.
What freaks me out is hearing the total amount of money spent on a per job basis to create the new jobs. You could almost just give the money to the new hire and they would be half way to being a millionaire.
Well, this entire game will be over when the day comes for China to call in their chips. Yep, game over and done. That is when ya don't want to be an elected official in Washington DC.
and if there are no revenues, who cares about a tax credit. If my company doesn't have enough accounts receivable coming in, what the heck am I going to are about a tax credit. Take on more liability of a new hire. The problem is government wonks just don't get it because most have never worked in the trenches. Most government high end wonks think money just happens, falls from the trees I guess. Hm? Maybe they are just accustomed to the government printing press.
Honestly, i bet I could write up a Party platform in about a couple of hours, including social issues that could be embraced by most of the U.S. frankly.
It's TV, media and money, special interests that pulls those things into major wedge (talk radio, should mention that one).
One that can take the social policies of the left and bond them with some of the common sense arguments (not the delay people) of the right.
If the 'Tea Party' or some other variant came out in favor of abortion and some other liberal ideas mixed with some conservative ideas but stayed fiscally conservative they might find a middle ground.
I know what you mean about Shelby I really could never vote for him but as you said on the bail outs and here on Bernanke he is spot on.
Obama is back in placate the repubs mode again. So bottom line we will get no real change and the financial sector will run roughshod over people till the next collapse.
Its a real shame.
Firstly I hear kos introduced on MSNBC as a "Progressive", uh, not in my book is he a progressive so there's another one where the misuse of the term goes on...
That's why I hate the term. "Progressive" is not supposed to imply someone who is focused on a host of social agendas, war and for more bad trade deals and so on. A Progressive officially wants some serious economic reforms...but the term is completely muddled at this point.
But for the next election, I was thinking national campaign to vote 3rd party and try to get as much Congress/Senators from 3 party on the ticket (which is a true nightmare)...
Just anything to screw up the works. Shelby sounded awesome on the original bail outs I even put up a bunch of stuff from him but make no mistake, he is no friend to the U.S. worker, middle class and even overall the economy.
I think though you did have a few not bought and paid fors who just intuitively knew that had to be crap.
Robert Reich is suggesting the U.S. form the "I'm mad as hell party and I'm not gonna take it anymore".
Honestly I don't have any answers, even some of the most progressives-populist candidates have turned out to be duds in a lot of ways.
Yves Smith has done a very good job summarizing the details, why each one is important on the AIG scandal
Fed as Chump
We have similar information but don't have just one post summarizing everything and why the actual purchase of the underlying assets is just as bad, if not worse than the original payouts.
Well done!
This guy 'got it' during the TARP talks and he sees through Bernanke.
So many republicans would benefit from a third party to run under.
Just like welfare was intended to be. Now its been opened up to cover so many things (like the budget deficit since Reagan) that its headed under.
Welfare meanwhile has become a way of life spawning new terms such as 'my babys daddy' and 'my babys momma'.
you're trying to understand how social security and other programs are getting royally screwed without making it to the headlines.
A huge one is stripping away traditional pensions and replacing them with 401ks, which is well documented to have lost billions, from dot on to 2008.
I can't believe it
Ray Joiner On www.aarp.com there is an article about the CPI-W and how it is a poor measure to base a Social Security COLA (or lack of one) on. Click on Bulletin Today near the top and look for a title along these lines. Seems to have been posted today (1-28).
A briefing on the President's SOTU Address. I sure didn't but K-Street lobbyists did:
Yeap, that's the Treasury Department led by Tim Geithner but of course he probably doesn't know about the conference calls.
RebelCapitalist.com - Financial Information for the Rest of Us.
Glad to see you here and posting. Some of our best writers are under the gun with other obligations and in a lot of ways I'm having to carry the site in terms of content (which gets exhausting folks, not only do I have to put a complete sentence together, I'm trying like hell to make sure all of my detail ducks are correct!)
Just a note, always quote the relevant passage in a post and don't just link up a "Read this". You have to give a reason, a blockquote teaser on why we should read something.
I edited the post to put in the block buster, and frankly I'm really not surprised it's Frank in that closed door room. He talks a great game and in a very gerrymandered district, although he still looks like a real representative in comparison to the Senate Banking Committee!
Anywho, glad you're here, I'm repeatedly linking to your post on direct jobs as stimulus for reference.
Some are using veiled threats some are crying:
Stephen Schwarzman: Wall St. Bashing Will Make Banks 'Insecure' And Will Decrease Lending (VIDEO)
Schwarzman is the founder of Blackrock. I am tired of these idle threats. First, these fraudsters are not lending now. Many of them are still insolvent. And they still don't appreciate nor do they care about excessive risk because they know they are TBTF.
Break them up already, Please.
RebelCapitalist.com - Financial Information for the Rest of Us.
who shall remain nameless because he got called out on trying to miscategorize the nature of a VAT (regardless on whether you are for or again somethin', it's a no no to try to spin some tax or economic tool etc. to claim it doesn't operate the way it in fact does....i.e. trying to spin just raw facts ain't cool on EP...
anywho, this guy was obsessed on rail and the thing I noticed was not a lot of analysis via traffic congestion, i.e. where (no surprise!) was the best bang for the buck and also the time/cost constraints.
Highly political, kind of an "earmark" deal vs. objectively where it makes most sense to do one first.
I mean take NoVA, anyone familiar with that area knows a 1 way commute can take 3 entire hours it is such gridlock...
but we're getting a train to Disneyworld? Really? Is that really going to help the economy that much to go see Mickey?
I'm blasting off today, because I'm finding precisely what you are pointing out....we're getting more globalization, more upside down policy that does the opposite of what it does and it's very clear the U.S. middle class is not just at the end of their rope....their hands are bloodied and they are falling off the cliff in piles of dead bodies...
and this @&*)$@ SMUCKS are still selling the American people down the river, just trying to hide it with a lot of good sounding BS!
Honestly I think all should write their Senators as well as Bryon Dorgan's office (who is sheparding this jobs bill) and demand they put in "Hire America and Buy American" strong conditions into this bill.
If i hear of yet another job being created in India or yet another project being awarded to Germany that is funded with U.S. taxpayer money, if it's possible to show a head explode in blog text.....well, it will probably happen.
I think I should sue the government for ruining my health. I think my blood pressure went to stroke level I'm so frustrated.
I'm in complete agreement with you, RebelC, the speech sounded the klaxon for the status quo, sounded like a continuation of globalization and free market balderdash, and that bit about a holiday on capital gains' taxes for small businesses just doesn't sound to liberating too this humble thinker.
And, that rapid rail thing --- I'm all for the USA finally designing and building a frigging bullet train (even if Japan has had them since the '60s, France since the '80s, and ditto Scandinavia), but that's the seventh time I've heard that in a State-of-the-Union speech.
And that item he mentioned about changing the tax breaks for corporations to move jobs and factories offshore -- he's said that at least twice before, then backed off it.
Let's hope this isn't the third time, because his talk is sounder cheaper and cheaper.
I'd be very surprised in any improvement, I think it could be summed up again by those five words:
No accountability for the banksters!
Bernanke wins nomination 70-30 - the most No votes in history. Thank you Mr. President.
The Era of NO Accountability Continues!
RebelCapitalist.com - Financial Information for the Rest of Us.
playing the Populist game of claiming they voted against Bernanke yet magically voted for cloture. If they voted for cloture and voted against him, at this point I would claim that doesn't quite count.
Myself, I really was on the fence for some time on Bernanke but I got plain pissed off swimming through his diffusion, statements that said absolutely nothing or did not answer the question. i.e. Stonewall Ben. I'm sick to death of this crap because derivatives and this amazingly complex shell game with CDSes/CDOs and financial dependencies is so confusing....just trying to get to the bottom of the real causes of the financial meltdown is hard enough, one doesn't need to add an additional layer of bullshit frankly.
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