Category Archives: The destruction of the middle class

Michael Hudson Talks to Ben Norton About SVB and Bank Failures

Michael Hudson gives a wide-ranging talk on SVB and other recent bank collapses, focusing on the considerable role of misguided Fed policies

SVB and the Only Choice We Have

How the SVB bailout confirms the dedication of the elites to self interest only.

US Officials Make Non-Bailout Bailout of Silicon Valley and Signature Bank and Continue Class Warfare

An over-zealous Fed pushed a few banks, including the big and super connected Silicon Valley Bank, over the edge. A bailout was a given.

How Does JK Galbraith’s The New Industrial State Hold Up After 6 Decades?

How John Galbraith correctly called many developments that have had great political and economic significance, like the decline of unions

Why Student Debt Cancellation Is Reasonable, Not Radical

Discuss: “The right has narrowed the parameters of discussion on student debt forgiveness. Biden is not fighting back aggressively enough.”

Rail Workers Warn Safety Bill Loopholes Are Big Enough to ‘Run a Freight Train Through’

Post East Palentine rail safety reform proposals are embarrassingly unserious.

The Fiscal Side of Europe’s Energy Crisis: The Facts, Problems and Prospects

A deep dive into the costs and impact of the recent, large-scale European energy subsidies.

Salve Lucrum: The Existential Threat of Greed in US Health Care

A big reason US health sucks is that the government refuses to crack down on abuses like price gouging and billing games.

Can the Phillips Curve Explain Recent Wage Growth?

Contrary to what many have claimed, wage growth in the fourth quarter of 2022 was actually in line with what a standard Phillips curve model predicts.

Hubert Horan: Can Uber Ever Deliver? Part Thirty-Two: Losses Top $33 Billion But Uber Has Avoided The Equity Collapse Most “Tech” Startups Experienced

An update on Uber financial fakery and continued lack of bona fide profits.