Bestselling Chief Economist goes public: US a criminal oligarchy

Source: Carl Herman, Seventy weeks on the NY Times bestselling-list was the outcome of Chief Economist John Perkins book, Confessions of an Economic Hitman. Here is a short version of his story; excerpt below from the excellent interview by the Daily Bell. I call for a “turn around” from the criminal economic system the US suffers under: a […]

Tax breaks for the rich v. Budget Cuts for the poor: Wisconsin

By Donna Cooper | February 22, 2011 House leaders are unfortunately restricting their proposed budget cuts for the remainder of fiscal year 2011 to nonsecurity discretionary spending in an attempt to tame a $1.3 trillion deficit. This approach is especially shortsighted since the Federal Treasury loses twice as much revenue due to tax breaks than […]

“Quantitative Easing”: What Does It Mean?

The capitalist economists and the mass media called it a second round of “quantitative easing” or QE II, and most workers when hearing such a term would simply throw up their hands and turn to the next news item. That is, if the workers heard about it at all. They would figure they could never […]

Just Desserts

A guy who calls himself “Keith in Seattle” posted this comment on my blog: “New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office. The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated. The Bureau of […]

Obama's Economic Team May Be Disbanding But They've Already Done The Damage

Obama’s Economic Team May Be Disbanding But They’ve Already Done The Damage by L. Randall Wray, Benzinga | Sep. 30, 2010, L. Randall Wray is a professor of economics at the University of Missouri — Kansas City.   A student of Hyman Minsky, his research focuses on monetary and fiscal policy as well as unemployment and […]