Category Archives: The destruction of the middle class

Bureau of Labor Statistics (Non) Reporting Tallies 8 Strikes in 2020 Versus Payday Report’s >1200

Tiny Payday Report does the Bureau of Labor Statistics to shame in tracking strikes in 2020. What gives?

Michael Hudson Discusses Financialization, Rentierism, and Other Favorite Topics with Jessi Ora of Swedish Positiva Pengar Group

Michael Hudson gives another wide-ranging, tour de force interview. Enjoy!

Understanding the Opioid Epidemic: When Innovation Fails, or Rather Works Too Well

The opioid crisis provides a deadly example of why innovation often is simply a new-fangled form of predation.

Purdue Bankruptcy Plan Moves Closer to Approval: Sacklers Would Make Out Well and Preserve Much of the Family Fortune, Despite the Opioids Crisis

Last week fifteen states dropped opposition to Purdue Pharma’s bankruptcy exit plan, making it likely the plan will be approved when it comes before a federal bankruptcy judge in August.

An Independence Day Reflection: How the Rich Plan to Rule a Burning World

How do the rich intend to carry on as general conditions deteriorate?

Yanis Varoufakis: Techno-Feudalism Is Taking Over

Varoufakis describes techno-feudalism and speculates on where it is going.

Biden Classifies Opposition to ‘Capitalism and Corporate Globalization’ As Extremism

The definition of what extremism amounts to becomes more, erm, inclusive as our elites feel more threatened. What are the possible end games?

J & J Agrees to Pay New York $230 Million to Settle Opioids Lawsuit; Global Settlement Soon?

New York State and J & J Agree on an opioids settlement, which should increase pressure for a global, multi-state settlement with the opioids industry.

James Galbraith: China and Supply Chains – The White House Review’s Focus on US Dependence

Despite brave talk about restoring manufacturing in America, extended supply chains and the position of China are insurmountable impediments.

Unions Demand Pelosi and Schumer Include Lower Medicare Age, Drug Pricing Reform in Infrastructure Plan

Unions urge Biden and Congress to include expanded Medicare eligibility and prescription drug pricing reform in the infrastructure plan.

Biden Taps Lina Khan to Chair the FTC

Hours after the Senate confirmed her nomination to the FTC, Biden tapped noted Big Tech critic Lina Khan to chair the agency.

There Is No Labor Shortage, Only Labor Exploitation

Conservatives and corporate employers are weaving an insidious web of myths, lies and exaggerations to justify maintaining low-wage jobs.

The United Mine Workers Strike at Warrior Met Coal

The issues and the cast of characters at Warrior Met Coal.

Rethinking Unemployment: From Adam Smith to Marx “Reserve Army of the Unemployed” to the Neoliberal War on Full Employment

Unemployment as a balancing act between workers ‘fearing the sack’ and employers ‘fearing the quit,” with employers usually winning out.