Category Archives: The destruction of the middle class

UNCTAD’s Richard Kozul-Wright on the Post-COVID World Economy: Out of the Frying Pan… Into the Fire?

Kozul-Wright warns that for a sustainable Covid-19 recovery, it is key to abandon policies that concentrate economic power and wealth

What is the Bullshit Economy?

Establishing some first principles of the bullshit economy.

Mitch McConnell to U.S. Business: Stay Out of Politics – But Keep Those Contributions Coming

Senate Minority Leader Mitch McConnell tells U.S. business: stay out of politics, but keep those campaign contributions coming.

Need Amid Plenty: Richest US Counties Are Overwhelmed by Surge in Child Hunger

While every U.S. county has seen hunger rates rise, the steepest jumps have been in some of the wealthiest counties, where overall affluence obscures the tenuous finances of low-wage workers.

The Bullshit Economy Part 2: Payday Loans 2.0, aka Early Paycheck Apps

Payday loans suck. Giving them a new name does not make them suck less.

How Employers Punish Workers for Forming Unions

How employers play dirty tricks even after unions are voted in. The PRO Act, up for a Senate vote, would stop the worst practices.

We May Be Living in a Moment of Misplaced Optimism

The current bout of optimism looks too close to giddy for my comfort. And yours?

Scoring the $1.9 Trillion Stimulus Plan and Earlier Covid Relief Programs

How to do a better job of getting relief to those who need it.

Michael Hudson and Paul Craig Roberts: It Is Time To Remove The Debt Barrier To Economic Growth

Why it’s time for a widespread debt writedown.

Yanis Varoufakis: Draghi’s Outrageous Deployment of McKinsey, Europe’s Predicament, DiEM25’s Proposals

Yanis Varoufakis decries how McKinsey is undermining democracy in a putative first world country, a big step up from South Africa and Saudi Arabia.

The Long Term Damage of Economic Downturns

As the well off sail on, either unaffected by or profiting from Covid’s impact, for many, the economic damage is severe and lasting.

Biden Stimulus Plan Shores Up Weakest Multi-Employer Pension Plans Rather than Taking on Private Equity Abuses

A Biden rescue of the sickest private pension plans goes largely under the radar.

Sports Desk: DoJ Files Amicus Brief in Support of College Athletes, While Congress Mulls Giving Them Rights to Their Names, Images, and Likenesses

Both the DoJ and Congress apparently side with college athletes over the NCAA in on antitrust and property issues.

Why the U.S. Manufacturing Renaissance Is Essential for U.S. Survival

Maintaining and reviving manufacturing capacity in key insutries is vital to preserving jobs and ensuring U.S. survival.