Relevant and even prescient commentary on news, politics and the economy.

Median wealth increases, but U.S. still stuck at #27 in world

The new Global Wealth Report and Global Wealth Databook from Credit Suisse were released last week. According to the Report (p. 3), Global wealth has reached a new all-time high of USD 241 trillion, up 4.9% since last year and 68% since 2003, with the USA accounting for 72% of the latest increase. Average [mean] […]

Weapons of mass deflection

Excepts from an interview with Richard Wolff (¬†Professor of Economics Emeritus at the University of Massachusetts, Amherst. And he is currently a Visiting Professor of the Graduate Program in International Affairs at the New School University in New York. Since 2008, he has been writing and speaking chiefly on the global capitalist crisis) from the […]

The Cobra Equation for the Effective Demand business cycle (part 2)

OK… so the exploration is continuing into the new equation which I am calling “The Cobra Equation” because the 3D curve looks like a cobra. This equation shows promise in its ability to explain the process of the business cycle and to ascertain the utilization of labor and capital near the end of the business […]

Labor market is improving, but hanging high

The Federal Reserve Bank of San Francisco published a letter about the labor market. The letter is titled, Gauging the Momentum of the Labor Recovery, and written by Mary C. Daly, Bart Hobijn, and Benjamin Bradshaw. They observe 6 indicators to judge how well the labor market is improving. The 6 indicators are the insured […]

Default

Eric Cantor rules on the debt ceiling?¬† From Talking Points Memo comes this bit of knowledge on who can propose a vote on the debt. Under normal House rules, according to House Democrats, once that bill had been rejected again by the Senate, then any member of the House could have made a motion to […]

Columbus and the destruction of endless resources

by David Zetland (re-posted from Aguanomics) Columbus and the destruction of endless resources 14 October 2013 Today is Thanksgiving in Canada and Columbus Day in the US.[1] Both of these holidays touch on the topics of indigenous people, resource use and sustainability — and not in a good way.

The Countermajoritarian Difficulty and Congressional Ethics–Ending the Shutdown

by Linda Beale The Countermajoritarian Difficulty and Congressional Ethics–Ending the Shutdown [Edited to add Marcotte article on role of fundamentalism in Tea Party politics.] We have seen congressional ethics probes of Congressmen for exacting quid pro quo bribes from businessmen or for conflicts of interest or apparent failure to pay personal taxes.  What about failing […]