Wolf Richter: Housing Bubble Means American Dream Withers at Record Pace
Despite the current housing “buying panic,” the soaring prices, and all the hoopla round them, there is a fly in the ointment: overall homeownership is plunging.
Read more...Category Archives: The destruction of the middle class
How Big Corporations Are Starving Public Schools of Billions of Dollars
How big corporate tax avoidance hurts local schools.
Read more...The Washington Consensus and Long-Term Austerity in Latin America
Most Latin American countries—including those, like Chile and Brazil, where democratically elected leftist governments were overthrown in the 1960s and 1970s. reversed course to adopt “neoliberal” economic policies. How well did that work?
Read more...Tsipras Accepts Most Creditor Terms as Merkel Insists on Referendum
Post-bailout expiration dynamics are likely to produce even worse outcomes for Greece than it had on offer from the creditors last month.
Read more...The Bankruptcy of America’s Elites
Why America’s elites have failed.
Read more...Economists, Wall Street Upset About Stingy Millennials
Stingy spending and investing behavior by millennials is a part of the New Normal that the officialdom would like to ignore.
Read more...New Study Debunks Myth That Exorbitant CEO Pay Results from “Talent”
In the last month or so, I’ve seen some remarkably dubious studies flogged around what Lambert calls the Innertubes, all ringing changes on the same themes: outsized pay for those at the top is a reflection of a state of nature. Fortunately, a new study from Lawrence Mishel and Alyssa Davis of the Economic Policy Institute has done the heavy lifting of shredding new, creative defenses of out-of-control CEO pay.
Read more...15 Ways Bill Clinton’s White House Failed America and the World
How Bill Clinton hurt the American middle class and US interests abroad
Read more...The Revival of Cities and the Urban Land Premium
The popularity of certain cities is explained by their attractiveness for innovative enterprises and high-educated top talent. Is this a durable trend?
Read more...Tom Engelhardt: Armed Violence in the Homeland
If you worry about safety, stop fretting about terrorists and focus on the nasty intersection of rising social stress and widespread gun ownership.
Read more...How Overgrown Financial Service Sectors Kill Growth
It’s now becoming cutting edge conventional wisdom that oversized financial service industries are bad for your economic health. Yet the media is only occasionally and timidly is willing to say that what is good for Jamie Dimon is bad for the rest of us.
Read more...David Leonhardt Links Two-Parent Families to Low Social Mobility, Without Taking Race and Socio-Economic Status Into Account
Leonhardt reinforces the myth that family form causes low social mobility, a disservice to the real debate about what causes family change
Read more...People and Power – The Technology Threat
Technology advances have hollowed out middle-skill jobs, often forcing those workers into less-well-paid work. That trend is set to intensify.
Read more...Thanks for Your Helpful Responses to Our Call to Action
We thank readers for their considerable, valuable input on a recent call to action and discuss how we plan to use their ideas.
Read more...Memo to Readers: If You Want to Beat Big Finance, You Need to Be Able to Take the Fight to Their Terrain
We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.
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