Andrew Sullivan reviews the book Red Ink. Here are some shocking facts that I learned from “Red Ink: Inside the High-Stakes Politics of the Federal Budget. Where the Trillions Come From, Where They Go, and Why Inaction Imperils Our Future.” An amazing 64 percent of the 4.4 million employees on the federal payroll are either […]
From Robert Reich on Sandy Weill: If any single person is responsible for Wall Street banks becoming too big to fail it’s Sandy Weill. In 1998 he created the financial powerhouse Citigroup by combining Traveler’s Insurance and Citibank. To cash in on the combination, Weill then successfully lobbied the Clinton administration to repeal the Glass-Steagall […]
Posts have been a bit thin lately and will be from me a few days more. I have run into being busy in a major way and am too tired to be conscientious, even though there is a lot going on. I hope to be back to a more regular schedule next week…even vacation posting […]
by Kenneth Thomas New Estimate of Offshore Wealth Shows Big Increase Since 2004 A new report by the Tax Justice Network, “The Price of Offshore Revisited,” shows that the amount of wealth held in tax havens has increased enormously since 2004, and confirms what I previously wrote about the huge cost to tax coffers of […]
Spencer England writes: This article is worth reading – it is at two sources: Energy Bulletin and Financial Times…is peak oil dead? The marginal price of new oil is now in the $70 to $90 — where WTI has bottomed at its last three corrections. If we are at a bottom for the real price of oil and the […]
by Rebecca Wilder Euro Area Crisis Hits Confidence in the Core France’s INSEE business confidence, Germany’s Ifo business climate, and theNational Bank of Belgium’s business survey demonstrate ongoing infection as the Euro area debt crisis hits business expectations in the core. Through July, business confidence in Germany and France continued to slide while that in […]
Update: (hat tip Robert Waldmann) Senate.gov voting record on middle class tax cut bill Excerpted from Linda Beale’s piece (7/25) on the numbers for the action taken by the Senate: …After threatening to filibuster the Obama tax cut proposal, Mitch CcConnell pulled back. See Lori Montgomery, McConnell pulls back from filibuster on Senate tax-cut vote, […]
Another recognition for Angry Bear contributors comes in the form of Scotusblog Wednesday roundup: You may have heard of Scotusblog because of the coverage of Supreme Court’s decision on court challenges to parts of Obamacare. Beverly Mann, having begun to write for Angry Bear as an added subject which I believed to be an increasingly […]
by Tom aka Rusty Rustbelt Update 7/26: The Deloitte link is working: http://www.deloitte.com/view/en_US/us/Insights/centers/center-for-health-solutions/21c1f310fb8b8310VgnVCM3000001c56f00aRCRD.htm. Health Care Thoughts: The Deloitte Survey The annual employers survey by Deloitte (Big Four CPAs) has caused some buzz among us talking heads, although sadly drowned out by the tragedy in Colorado. (As of this moment the download link is broken, apparently […]