Returning off shored money to the US was a way to create jobs politicians promised and promoted back in 2004. But not so much was the result. From Forbes: Many in Congress are argueing that corporations are leaving billions of dollars abroad at the expense of bringing it home to invest in jobs. However, says […]
Dan here…Yves Smith reminds us on the announcement of a reported ‘biggest fine ever’ on Bank America that the deals, fines, and reporting on mortgage misconduct need careful interpretation. And a skeptical attitude. (partially re-posted…worth the trip over) by Yves Smith Bank Settlement Grade Inflation: High Bullshit to Cash Ratio in $17 Billion Bank of […]
[T]here is probably no one more gung ho for Obamacare repeal than [Senate Republican nominee] Tom Cotton. He talks about it all the time. So he obviously would roll back the Arkansas version of the state’s Medicaid expansion, right? Well, he has consistently refused to say. And in a new interview this week, Cotton was pressed on […]
Lifted from comments on Financing Social Security, Bruce Webb comments on Social Security prpaganda: Jim, the problem is that those people with “government, financial, business experience” who are promoting the message “No check for you!” to millennials know full well the numbers behind the following equation: No Check for You = After Trust Fund Depletion a […]
Lifted from Robert Walmann’s… Paul Krugman wrote: The answer all the deficit-panic types offer is basically that we must cut future benefits. But why, exactly, is that something that must be done immediately? If you state the supposed logic, it seems to be that to avoid future benefit cuts, we must cut future benefits. I’ve […]
Vis the NYT comes this look at the economics of small scale farming: Don’t let your children grow up to be farmers AT a farm-to-table dinner recently, I sat huddled in a corner with some other farmers, out of earshot of the foodies happily eating kale and freshly shucked oysters. We were comparing business models […]
The shooting death by police of Ferguson, MO teenager Michael Brown, and what has happened in the aftermath, has been blanketing the news for the past few days. It’s a story about race, but it’s also become a story about the power of the state and how it’s wielded, and against whom. So my question […]
by Dale Coberly FINANCING SOCIAL SECURITY A BOB BALL APPROACH Bob Ball proposed in 2007 (www.robertmball.org quoted in NASI “Fixing Social Security” Reno and Lavery, 2009, p 14) a “balancing rate increase.” This is the way his idea was described in the NASI publication: Acknowledging the uncertainty of 75 year projections, former Social Security Commissioner […]
Leigh McIlvaine (@Leigh M.) of Good Jobs First alerted me to this article on what Tesla Motors wants in incentives to land its $5 billion Gigafactory: $500 million. This massive 6500 worker facility will produce the next generation of batteries in order to introduce a less expensive line of cars in 2017, the Tesla Model […]
For the last 79 years, Social Security has paid out every benefit owed to every eligible American, making it one of the most successful programs in American history. 67 percent of Americans are opposed to any cuts to Social Security.