Randy Wray: When Will They Ever Learn – Uncle Sam is not Robin Hood
Why Obama’s budget is yet another economic policy failure.
Read more...Why Obama’s budget is yet another economic policy failure.
Read more...Yves here. Among other things, this post shows what passes for analysis among elite technocrats.
Read more...Are austerity-promoting Democrats stupid or evil?
Read more...Yves here. I’ve written from time to time how openly partisan the Congressional Budget Office is, not in the traditional sense of favoring one party over the other, but as serving as an key enforcer of neoliberal ideology. For instance, its projections of government debt to GDP ratios were highly misleading by virtue of failing to net out financial assets. And after being called out for that error in paper, what did the CBO do? Make it even harder to find the data to prove the magnitude of their misdirection.
Read more...Yves here. Trust me, you must read this post. In its entirety. Varoufakis discusses the operation of “liberal democracy” as opposed to “classical democracy,”. and argues that voter apathy is a feature, not a bug. But the real meat is in his discussion of how the economic rights of laborers has changed over time and how that has had profound implications for democracy.
Read more...Yves here. This Real News Network segment discusses what many readers know all too well, that even a $10 minimum wage fails to provide an adequate standard of living, particularly for parents.
Read more...Yves here. It’s obvious that student debt is a train wreck. Yet the severity of this problem is barely acknowledged as a problem among policy classes. Is that because the looting must continue? But even if so, why do colleges and universities have such privileged status?
Read more...Michael Hudson discusses austerity in Ireland, how US economic policy has affected Ireland, Europe and the rest of the world as well as how the various political parties in Ireland have mishandled the economic crisis.
Read more...America’s income inequality has grown so wide that the current “recovery” is driven primarily by the upper fifth of income earners, as revealed by the latest consumer spending data.
Read more...Now we know how much it takes to buy PBS programming: $3.5 million.
Read more...You cannot make this stuff up.
Read more...kayfabe: Term in pro wrestling. Kayfabe was the unsaid rule that the wrestlers should stay in character during the show and in public appearances in order to maintain a feeling of reality (albeit suspended) among the fans.
Read more...One feature of Obamacare that Lambert has mentioned in passing in his posts is that individuals over 55 who are enrolled in Medicaid are subject to having expenses like being in a long-term care facility, home services, and related drugs and prescriptions clawed back from their estates. A must read post at Paul Craig Roberts details how pernicious and sneaky these provisions are.
Read more...Yves here. This is a short, straightforward Real News Network interview with John Weeks, Professor Emeritus of the University of London, which dissects the logic, such as it is, by which neoliberals argue against taxes and for smaller government.
Read more...A new Wall Street Journal story on how many men aged 25 to 54 can’t find work, fails to mention but nevertheless shellacks an embarrassing New York Fed paper released earlier this week.
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