I, like many other bloggers interested in economics, offer you Jon Stewart taking apart Jim Cramer on the Daily Show. It’s incredible journalism. In some ways, Jim Cramer gets unfairly blamed for all financial journalism on TV. But that’s okay. He’ll be glum all the way to the bank. And he agreed to come on. […]
If you’re of a populist bent, you’ll be happy to know that the population of millionaires is dropping off thanks to the economic crisis. I’m sure CNBC will have a segment on how this is a great time to buy all of those second homes that are being dumped on the market.
Let’s try some trickle-up for once.
Or just about anybody in the Wall Street-based financial services industry. They just seem to live in a different culture – a culture that few on Main Street would celebrate. First, David Leonhardt writes in the New York Times that bankers were counting on being able to loot their companies in order to succeed. Also, […]
War. What is it good for? When Edwin Starr sang those words nearly forty years ago, he was referring to a real war – the war in Vietnam. But I think the same question could be asked about the many “unreal” wars, too – as when “war” is used as an analogy for really difficult […]
A couple of good articles form Daniel Gross over at Slate on the real war on the rich: War on the Rich: The bogus GOP claim that Obama is trying to bleed wealthy Americans Park Avenue Marauding Through Soho: There is a war against the rich, but it’s being waged by other rich people
The national unemployment report was bleak. We now have an official unemployment rate of 8.1%. But it’s also important to look at the Labor Department’s broader measure of unemployment, especially in today’s economy. It includes people who are unemployed and still looking for a job, people who are unemployed but have given up looking, and […]
My commenter The Intellectual Redneck has pointed out another Wall Street Journal article that makes the point that even 100% taxes on high-income earners won’t pay for the Obama budget. As I said in a comment, I’m not perfectly happy with the Obama budget. I like the numbers to add up. But I’m more than […]
This, from the Wall Street Journal: High-wage earners, Wall Street hedge-fund managers, oil-and-gas investors, corporate executives, well-to-do seniors and Washington lobbyists all take hits in President Barack Obama’s budget plan. The budget winners include middle-class families, low-wage workers, lower-income retirees, veterans, preschoolers, college students and the homeless. Now I guess we all have to decide […]
There are no “free” markets in the sense that “anything goes.” All markets operate within a set of rules. Sometimes those rules are implicit, like be honest or your reputation will suffer and you’ll find yourself unable to conduct business. Other times, the rules are explicit, like the requirements that financial institutions should have enough […]
Bill Poorman 