Category Archives: The Sorry State Of American Manufacturing
Let Them Eat Credit
By most counts, the U.S. economy started growing in the middle of last year. For many Americans, though, it does not feel as if the Great Recession has ended—unemployment and underemployment are still alarmingly high, and job growth is weak. … Continue reading
Great-est Depression???
This forecaster is saying something that I thought was just common sense and I mentioned a year ago or more. That is to say, without a vibrant middle class to effect the necessary 70 % consumption that represented the bulk … Continue reading
Inexcusable Delay-Another reason for a change in Washington
Senate Leaves Credit-Starved Small Biz Hanging – Los Angeles Times Small businesses desperate for government help getting loans will have to wait at least until September before Congress moves on long-awaited legislation to pay for higher loan guarantees, lower fees … Continue reading
Bad Meat
MAD MEAT! How Securitized Lending Collapsed the Financial System, Eric Von Berg (a commercial property mortgage banker and was the President of the California Mortgage Bankers Association during the heat of the market who has been watching “Regulatory Reform” as … Continue reading
CBO Propaganda
I’ve seen some eye-poppin’, credulity-stretchin’ accounts in my time. The report “The Budgetary Impact and Subsidy Costs of the Federal Reserve’s Actions During the Financial Crisis,” just released by the Congressional Budget Office, ranks with the most extreme. It claims … Continue reading
It takes brains
The geniuses are at it again: Hide your wallet! AP GM wants to re-enter auto financing Tom Krisher Tuesday May 11, 2010 DETROIT (AP) — General Motors Co. executives want their own auto-financing arm so they can offer more competitive … Continue reading
“Of Rats and Sinking Ships”
Larry Summers is reportedly leaving later this year, and Andrew Cockburn reports that Rahm Emanuel, Obama’s acutely verbal Chief of Staff is said to be looking for other employment, preferably a high paying job on Wall Street with little work … Continue reading
Why Obama is Now (finally) Getting Tough on Wall Street
Originally published at Robert Reich’s Blog For almost a year now, Democratic pollsters have been pointing out how much the public hates the bank bailout and despises Wall Street. But there was no reason for Democratic leaders in Congress or … Continue reading
Sic transit America?
Flagging: a US sailor stands on the flight deck of the aircraft carrier USS George Washington If a week is a long time in politics, a decade is starting to look like an age in geopolitics. Comparing the America that … Continue reading
The Truth About Jobs That No One Wants To Tell You
Unemployment will almost certainly in double-digits next year — and may remain there for some time. And for every person who shows up as unemployed in the Bureau of Labor Statistics’ household survey, you can bet there’s another either too … Continue reading
It’s Unemployment, Stupid!
Pittsburgh protesters demand G20 do more for jobs Forbes “We’re not going to accept a jobless recovery,” said Larry Adams, a postal worker who came from Jersey City, New Jersey, for the protest. …
Operation Rollback: Wal-Mart’s World of Business
The expansion of international “supply chains” from Asian factories to American consumers has certainly created global trade imbalances and international currency flows that are not necessarily sustainable over the long run. A readjustment of the world economy, not a slackening … Continue reading
“the short period of American triumphalism, where we dominated the global scene. That period is over”.
Stiglitz Says U.S. Economic Recovery May Not Be ‘Sustainable’ By Michael McKee Sept. 4 (Bloomberg) — The U.S. economy faces a “significant chance” of contracting again after emerging from its worst recession since the 1930s, Nobel Prize-winning economist Joseph Stiglitz … Continue reading
An example for the USA
Amazing German Machines May Lead Europe Out of Recession Germany’s heavy reliance on exports caused serious problems for the country when the global economic crisis dried up orders. However, its obsession with manufacturing could soon help drive growth. By merging … Continue reading
Sic Transit Gloria America
As U.S. deficits increased, global investors edged away from the dollar into the German mark, the Japanese yen, the Swiss franc, the Euro, and more recently baskets of Asian currencies. Which brings us to today. Only goodwill (defined both as … Continue reading
The end of the recession will merely be the start of a long, painful journey, says Edmund Conway.
t’s a game of far more than two halves: more tactical than cricket, more stomach-churning than boxing and more complex than bridge. Throughout a magnificent summer of sport, one competition has lasted longer than any other, and generated the most … Continue reading
The Dollar’s New Best Friend
Last Tuesday, Brazil, Russia, India, and China–the so-called BRIC nations–met in Yekaterinburg, Russia, for what was supposed to be an anti-American gabfest. The main agenda item for the first formal meeting of the four largest developing economies was the future … Continue reading
Jobs: Even Less Is ‘Made in America’
So while the stock market was buoyed by May’s less-than-expected overall job losses, many saw the report as grim. “The concern is that we’re replacing $25-an-hour jobs with $12-an-hour jobs,” says Peter Morici, a professor at the Robert H. Smith … Continue reading
Forgetting What We Learned
ILLITERACY IN HIGH PLACES by Paul Craig Roberts If a person lives long enough, he can watch everyone forget everything they learned. Everyone includes Federal Reserve Chairmen, economists, Bank of America “strategists,” and even Bloomberg.com. Federal Reserve Chairman Ben Bernanke … Continue reading
Jobs: Even Less Is ‘Made in America’
There are many reasons the U.S. manufacturing sector has been in decline. In GM’s case, the cuts reflect the long slide in the company’s sales and market share. Job automation and competition from countries with lower wage rates contribute to … Continue reading
The Committee to Defraud the World
To say now that ‘No one knew’ or ‘I was mistaken’ or ‘I was just doing as I was told’ is another in a series of lies and deceptions that have supported one of the greatest frauds in the history … Continue reading →