Category Archives: The destruction of the middle class

Covid-19 Hits the Dual Economy: Incomes Destroyed at the Bottom, Profits Supported at the Top

Why preserving (big) corporate profits will not bail out the economy.

Debt and Power: An Interview With Michael Hudson

Micheal Hudson explains how the ancient approach to managing debt is far superior to ours.

Sanders Calls for ‘Unprecedented Legislative Response’ to Coronavirus Crisis—Not Corporate Bailouts

Republicans have tabled a corporate bailout plan to calm markets. Can Bernie Sanders and others redirect the stimulus to reflate the economy?

A Modest Proposal: Make Sure the Public Knows, in Real Time, When Congresscritters are Dumping Shares

The COVID-19 specter led Congresscritters to coo reassurance, and dump shares. A modest proposal: require immediate disclosure of trades.

Michael Hudson: A Debt Jubilee is the Only Way to Avoid a Depression

In the face of massive economic calamity caused by coronavirus, Michael Hudson argues a debt jubilee is the only way to avoid a depression.

The Fed Backfires: Shock and Awe Rate Drop to 0%, Emergency Bond Buying Program Leads to Limit Down Drops in US Equity Futures as Real World Coronavirus Damage Worsens

The Fed just told everyone to assume the brace position.

‘Grotesque Level of Greed’: Owned by World’s Richest Man Jeff Bezos, Whole Foods Wants Workers to Pay for Colleagues’ Sick Leave During Coronavirus Pandemic

Jeff Bezos continues to abuse his workers, this time (or more accurately, again) at Whole Foods.

Who’s Responsible? How the “Independent Contractor” Dodge Guts Employment Protections

On establishing legal responsibility for employment in the fissured workplace.

Will Biden’s Trade Policy Record Come Back to Haunt Him in Midwest?

Sanders seeks to make Biden pay for his trade record in Tuesday’s Michigan primary. Idaho, Mississippi, Missouri, North Dakota, and Washington also hold primaries on the same day.

Let’s Crush the Woke Plutonomy! An Interview + Review of The Populist’s Guide to 2020: A New Right and New Left are Rising by Krystal Ball and Saagar Enjeti

How the ordering of the world to suit the 1% – also known as plutonomy – has generated long-overdue “populist” pushback.

Housing Insecurity, Homelessness, and Populism: Evidence from the UK

Cutting subsidies for private rental housing did not do much to reduce overall spending or lower rents but caused a lot of pain.

Boris Johnson, Not Donald Trump, Is the Real Blue-Collar Conservative

Is Boris Johnson misunderstood?

The Race to Slash ‘Red Tape’ in Post-Brexit Britain Has Begun. How Can It Be Resisted?

Brexit is being used to accelerate the neoliberal race to the bottom.