Yves smith writes: You must go, now, and read a critically important piece questioning the logic of sending American manufacturing jobs offshore. It’s titled Losing Sparta (hat tip Dikaios Logos) by Ester Kaplan in VQR. We have written regularly about how we have been repeatedly told by managers and executives that the case for offshoring […]
“… the fundamental law of capitalism must be: If workers have more money, businesses have more customers.” Nick Hanauer Keynes wrote that insufficient effective demand could “bring the increase of employment to a standstill before a level of full employment has been reached”. We may have this problem. So… What is effective demand? I base […]
Lance Roberts has a piece called Not Seeing Signs of Market Exuberance? Look Closer. He talks about the psychology of gamblers to expect winning even when the news is bad. He makes the connection to the stock market that traders keep pushing the market higher in spite of less-than-good news. He then makes the connection […]
In a piece yesterday called High Asset Prices, the Savings Glut, Secular Stagnation, and Unemployment, Dean Baker wrote… “The idea that the economy could be subject to an ongoing problem of inadequate demand used to be grounds for eviction from the realm of serious economists. But anyone who is willing to look at the evidence with […]
Via Demos comes this note on Our enormous retirment subsidies to the rich: …it behooves us to collectively recall just how much money the federal government is already devoting to subsidizing private retirement accounts. Those in policy circles tend to be aware of this stuff, but it largely escapes the glare of everyone else. Each […]
by Barkley Rosser at Econospeak The Wannabe Caliphate Openly Declares Itself So I earlier argued here that ISIS(ISIL) or DAEESH was not yet claiming itself to be a caliphate, and that its leader, Abu Bakr al-Baghdadi was only calling himself “al Hakim,” or “Ruling Emir,” even as I recognized that he had turned over this […]
Lifted from commnents in open thread in resonse to Tom Coburn’s comments on SSDI, by ilsm: Going after SSDI scalawags. The congress just added 4 more F-35 to the 2015 buy than Obama asked for. The F-35 is currently grounded because the engines tend to blow up and catch fire when […]
I was not surprised to learn that conservatives assert that the recent increase in the growth of employment and reduction in unemployment are due to the failure to extend extended unemployment insurance. The headline labor force statistics have changed in the direction they predicted. Steve Benen noted the argument and linked to counter arguments by […]
The title of the article is “Abused elephant rescued by Wildlife S.O.S.” The caption under the picture of the elderly elephant with tears streaming from his eyes reads “Raju cried as he was freed from 50 years of cruelty; he was delivered to freedom to the Elephant Conservation and Care Centre at Mathura, India.” The […]
David Weidner wrote an article today called, Dow 17,000 is on the wrong side of history. It is a must read. Here is a brief recap… “But more than any modern bull market, this one stands alone in that it’s squarely out of step with economic growth. It’s being driven higher by just a few […]