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

The Bizarre and Manipulative Crusade by Centrist NYT Columnists to Persuade Clinton to Adopt the Republican Fiscal and Regulatory Agenda – [with update]

All the experts tell us not to pay too much attention to polls for another week or two. Still, it does look as if Hillary Clinton got a big bounce from her convention, swamping her opponent’s bounce a week earlier. Better still, from the Democrats’ point of view, the swing in the polls appears to be doing what some of us thought it might: sending Donald Trump into a derp spiral, in which his ugly nonsense gets even uglier and more nonsensical as his electoral prospects sink.

As a result, we’re finally seeing some prominent Republicans not just refusing to endorse Mr. Trump, but actually declaring their support for Mrs. Clinton. So how should she respond?

The obvious answer, you might think, is that she should keep doing what she is doing — emphasizing how unfit her rival is for office, letting her allies point out her own qualifications and continuing to advocate a moderately center-­left policy agenda that is largely a continuation of President Obama’s.

But at least some commentators are calling on her to do something very different — to make a right turn, moving the Democratic agenda toward the preferences of those fleeing the sinking Republican ship. The idea, I guess, is to offer to create an American version of a European-­style grand coalition of the center­-left and the center-­right.

I don’t think there’s much prospect that Mrs. Clinton will actually do that. But if by any chance she and those around her are tempted to take this recommendation seriously: Don’t.

No Right Turn, Paul Krugman, New York Times, Aug. 5*

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The dilemma of voting for president

Real News carries The Black Financial and Fraud Report with Bill Black,  reminds us this election has many issues that we need to remind politicians to tackle:

And what did the—finally, the numbers that just came in in the New York Times article very recently that showed that—in the first year of recovery from the recession, which was taking place under President Obama, of the gains in income, 93 percent of those gains went to the top 1 percent in wealth. And we are in the greatest period of inequality measured since the Great Depression. And in terms of wealth, as opposed to income, the top 1 percent now have greater wealth than the bottom 90 percent of us in America. 

So while we can justly criticize that Romney and Ryan would make inequality worse, under this administration inequality has reached record levels. And you can see from all of the inside story things that are coming out from Barofsky, from Connaughton, from Sheila Bair, that the programs have not—of the Obama administration have overwhelmingly not been designed to help regular people, as opposed to, in the infamous phrase of Timothy Geithner, the Treasury secretary, to foam the runways to protect the banks from crashing and burning.

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Occupied Media: Interview With Professor William K. Black

Often  participating in econoblogging is done by an older crowd.  I  receive requests by younger potential econobloggers to read some of their posts, but often such posts are lacking in enough documentation and thoroughness of understanding for publication here.  My hope is that this young woman becomes the exception.  Re-posted with authors permission   Dan

by Taryn Hart at Plutocracy files

Guest post:  Occupied Media: Interview With Professor William K. Black

So, this video took far too long to post due to technical difficulties (and we ultimately ended up posting without video). However, the content is amazing. The interview is with esteemed law professor Bill Black who has been a tireless advocate for reform of the financial system and prosecution of the fraudsters that brought our economy to its knees. The title of his book really says it all: The Best Way to Rob a Bank is to Own One.
 
Professor Black is an Associate Professor of Economics and Law at the University of Missouri, Kansas City, a white-collar criminologist and a former financial regulator. He blogs at New Economic Perspectives and tweets at @WilliamKBlack. Professor Black has been an advocate of the Occupy Wall Street Movement and he has been remarkably generous with his time.

A huge thanks to video editor Paul Shockey for getting this interview out despite the numerous technical problems.

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