A Federal Court cleared the way for students who have been defrauded by for-profit institutions (I hesitate to call them schools). “This court ruling is a major victory for thousands of students across the country who were defrauded by predatory for-profit colleges taking advantage of our broken student loan system. We commend Attorney General Maura […]
Win for Students Having Loans From For – Profit Educational Institutions
Who Is The Bigger Terrorist Threat: Iran Or Saudi Arabia?
Who Is The Bigger Terrorist Threat: Iran Or Saudi Arabia? Yesterday’s WaPo had competing headlines about Iran and KSA (Saudi Arabia): Iran is described as a “potential” terrorist threat while the likely Saudi role in the death of journalist Jamal Khashoggi is described as threatening the US-KSA relationship. The latter problem (likely to be smoothed […]
In the New Gilded Age, Capital is not for Investment
Many years ago, Goldman Sachs published research showing that, from about 1995 to 2004, more money had been taken out of S&P 500 companies in dividends and share buybacks than the companies had earned during that period. You would think Boards of Directors and Shareholders would know better than to do it again. You would […]
Cut Social Security, Medicare, and Medicaid McConnell Says
After instituting a $1.5 trillion tax cut and after signing off on a $675 billion Defense budget, Senate Majority Leader Mitch McConnell said yesterday, Tuesday, October 16, 2016; “The only way to lower the record-high federal deficit would be to cut entitlement programs like Medicare, Medicaid and Social Security.” More McConnell: “It’s disappointing but it’s […]
Fiscal Dishonesty from CNBC and Our Treasury Secretary
Fiscal Dishonesty from CNBC and Our Treasury Secretary Is Jacob Pramuk on the White House payroll? US budget deficit expands to $779 billion in fiscal 2018 as spending surges. The federal budget deficit rose 17 percent in fiscal 2018, according to the Trump administration. Spending jumped, and revenue only increased slightly following the GOP tax cuts. The […]
Subdued September inflation means real hourly and aggregate wages grow
Subdued September inflation means real hourly and aggregate wages grow Courtesy of subdued gas price increases this year vs. one year ago, overall consumer prices rose only 0.1% in September vs. 0.5% one year ago (and 0.3% over the last two months vs. 0.9% one year ago). As a result, YoY CPI growth is down […]
Open thread October 17, 2018
On the rise of German militarism
On the rise of German militarism The long-term rise of Japanese militarism that culminated in the Pacific War in World War 2 was painstakingly documented in Meirion and Susie Harries’ excellent “Soldiers of the Sun,” a template that ought to give pause to Americans today. Briefly, the Meigi consitution required that there be a military […]
The Political Economy of the Working Class
The Political Economy of the Working Class The political economy of the working class is pluralist. The political economy of the working class is pragmatic. The political economy of the working class is critical. Karl Marx chronicled and contributed to the political economy of the working class. He did not invent, conclude or supersede it. […]