by Linda Beale Deficit Disorder Symptoms–via Naked Capitalism/New Economic Perspectives Yves Smith over at Naked Capitalism has an insightful re-post today on the way the right in particular–and most in the media and public–talk about deficits and misunderstand the relative importance of failures to invest in physical and capital infrastructure (roads, education…) versus the relative […]
by Linda Beale Tax Filing Season Delay The IRS announced that the 16-day federal shutdown will cause a delay in the start of tax filing season by a week to two weeks. The exact date when returns will first be accepted, to be announced in December, was to have been January 21, but may now […]
Via the Washington Post: Here’s David Cay Johnston, interviewed by Joshua Holland (link from Joseph Delaney), in response to a question about “why we have a very low tax burden overall, relative to other wealthy countries, but a lot of Americans feel that they’re being taxed to death?”: Well, one of the reasons some Americans […]
by Linda Beale Time to Eliminate the Debt Ceiling As the post-shutdown resumption of talking in Congress gets underway and the days start counting down to the next debt ceiling deadline (perhaps brought along sooner by the delay in the tax filing startup, as discussed in the last post), I suppose we must all at […]
Hat tip reader rjs: Reps. Alan Grayson and John Conyers Call for End to Bank Welfare, Tough Rules on Bank Capital – Yves Smith – Congressmen Alan Grayson and John Conyers have published a well-thought-out proposal on bank equity, with the objective of assuring that when banks do stupid things (which they do with great […]
Via Alternet: The list of Democrats who are entering these negotiations embracing the GOP’s terms continues. There are at least nine in the Senate. California’s Dianne Feinstein, Montana’s Max Baucus, West Virginia’s Joe Manchin, Delaware’s Chris Coons and Tom Carper, and Colorado’s Michael Bennett have all said they support cuts to entitlements in letters to […]
Via the Real News is Bill Black on the JP Morgan setttlement: DESVARIEUX: Okay. And because of these massive losses, now JPMorgan has to pay this $13 billion settlement. But it’s really being reported as this big step toward bringing the banks to justice for their role in the financial crisis. Do you actually agree […]
I can not help but wonder if Friedman takes delight in the predicament of the Young and Baby Boomers as he writes about Druckenmiller excursions on to college campuses . I envision a bit of Schadenfreude as evidenced by his choice of titles for his latest column. October 15, 2013, Tom Friedman writes in the […]
by Dale Coberly TOM FRIEDMAN LIES THROUGH HIS GREAT BIG TEETH TELLS KIDS “KILL GRANDMA” You see, the Wolf (his friends call him Tom) had no reason to disguise himself as Grandmother. He had already met Little Red Riding Hood and talked to her like a friend. She saw him as the nice man in […]
One thing that several people have requested (including Mrs. Rdan) is more easily read material more accessible to non-finance readers, or with our AB audience also people well versed in finance and macro, without dumbing down the issues into ideas that have no context nor links to what actually happens in the world. We […]