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

The Latest Never Ending Adventures in Corporatism Via the TPP

From the Economic Populist: The Latest Never Ending Adventures in Corporatism Via the TPP –  Wikileaks has published more secret Trans-Pacific Partnership Agreement documents, revealing more and more how the United States represents large corporations and not the citizens of the nation.  The Huffington Post published a large front page story is on the Trans-Pacific […]

Social Security: Trust Fund Ratios, Solvency and the Reagan ‘Raid’

What does or would it mean to say that Social Security was ‘solvent’? Under the rules that govern the Trustees of Social Security the test for any given year is pretty simple: did or will the year end with all obligations/cost met while still retaining assets equal to the next year’s cost. To determine this […]

The “Global Savings Glut” Is Conceptually Incoherent. “The Economy” Cannot “Save”

When you hear people talk about the Global Savings Glut, you can be quite sure they are talking about monetary “savings” — the global aggregate stock of money embodied in financial assets. What they don’t seem to realize is that the net holdings of global financial assets minus liabilities — claims and counterclaims — is […]

Guest post: Speaking Truth to Power

Joseph P. Joyce (is a Professor of Economics at Wellesley College and the Faculty Director of the Madeleine Korbel Albright Institute for Global Affairs Guest post: Speaking Truth to Power When the full history of the European debt crisis is related, one important part of the story will be the uneasy relationship of the International […]

Real income growth trends

Even though this post by Spencer England is from 2008 and hence dated, it reminds us of the overall experience of making it in America: by Spencer England Making comparisons over time of how real income grows is a difficult proposition with many data problems. One recent study was able to show how a current […]

America’s Most Wanted: Boeing

Boeing is America’s Most Wanted Corporation in two senses. First, now that the Machinists’ union in Washington state has refused the company’s contract demands, it is shopping production (h/t Pacific Northwest Inlander) of the 777x aircraft nationwide and lots of states are making offers for it. Second, it is emblematic of everything the 1% is […]