Tag: tcot

Thomas Jefferson: Typical Teabag Hypocrite

On July Fourth, the people of the United States celebrate the high-blown expressions on human rights that Thomas Jefferson penned in the Declaration of Independence – especially the noble phrase “all men are created equal.” But Jefferson really didn’t believe that or much else that he said and wrote during his lifetime. He was, in…

The Filibuster is Dead, Long Live the Filibuster

It came as no surprise to me that The Washington Post editorial page led the charge in denouncing the change in Senate filibuster rules that Majority Leader Harry Reid (D-Nev.) and 51 of his Democratic colleagues finally made on Thursday, November 21st, 2013. The king is dead, long live the king! is a traditional proclamation made following the accession…

Do Repeated Acts of Southern Treason Invite a 2nd Civil War?

150 years after the end of the US Civil War, the same Confederates and the federal government are poised for a rematch over the repeated acts of treason by states seeking to deny one of the most important founding tenets of democracy– voting rights– to black Americans, and ultimately over the fundamental rights of all…

The GOP’s Descent Into Madness–And America’s Apartheid

Years from now historians are going to have a ball with the early 21st century aren’t they? As political upheavals go, some historians in the future might say the election (and re-election) of Barack Obama might be the most consequential event in America’s relatively short history. Some might point to the obvious lies, corruption, and robbery…

Patriots or Just Irrational Tea Party Paranoia?

There’s a fine line between healthy caution and paranoia. The U.S. has been under stress for over a decade and that always heightens emotions. When emotions are out of control logic flies out the window. Republicans have seized the opportunity to promote their failed brand of obstructionism and of all things, austerity. You can see it…

Opinions Are Like Butts Everybody Has One and Most Stink

Here’s my beef for today; in America, we have become so accustomed to 24/7 access to so much information that the line between opinion and fact have become one and the same for the least informed but biggest slice of our country. Hell yes everybody is entitled to their opinion, but like butts, everybody has…

This Recovery is NOT Real But Would You Like To Buy My House?

Americans—except Republicans of course– would really like to believe that the recovery is finally here. I mean, after five years of high unemployment, the GOP obsession with government deficits and a disappearing middle class, a bona fide recovery would make millions of Americans, as well as a faltering global economy, feel more at ease.  That’s…

Don’t Get Too Excited About February’s Unemployment Drop

More than five years after George W. Bush’s economic crash, it apparently doesn’t take much to get people excited about the state of unemployment. The Labor Department’s February employment report showing the economy generated a better than expected 236,000 jobs and the unemployment rate had fallen 0.2 percentage points to 7.7% was sufficient to get the optimists’…

Same Mistakes Being Made Now That Caused The Great Depression

By embracing the gratuitous anti-government rhetoric and archaic economic theorizing that passes for policy analysis in much of today’s G.O.P., Congress and the White House might be making the same mistake that F.D.R.’s Administration made in 1937, when it brought on another recession. And Fed Chairman Bernanke, a much-ballyhooed expert on the Great Depression has,…

How Long Will America Endure This GOP Economic Rollercoaster?

I have to wonder just how long the GOP can keep taking America on this economic rollercoaster before we all lose our breakfast, lunch, and dinner. Everywhere you turn, it seems, there is an economic contradiction.  Economists fall back on the stock and trade of their vocation, mathematics. They have been tied in knots resorting to indicating…

Neo-Luddites Dragging Down Demand and Recovery

If only the Neo-Luddites in the U.S. would get their heads out of their rear-ends and stop dragging the U.S. economy down, our economic recovery would have a very good chance of staging a remarkable comeback. Lord knows that  the people of the eurozone are doing their part. Even facing  severely ill-timed austerity measures, I have to say that I’m surprised…

Economists Say Republicans Not Debt Threaten Recovery–Again

Just two weeks after Congress negotiated a last-minute deal to avert going over the fiscal cliff, economists say political roadblocks by Republicans, who have gotten hammered lately, are again throwing tantrums over the nation’s borrowing limit and could once again threaten to cause grave harm  the nation’s sluggish recovery and 99 percent of Americans’ well…

GOP Clamors To Reduce All Budgets Except Defense and Their Own

Republicans, clamoring to reduce everyone’s budgets except Defense and their own staff budgets, is profoundly disturbing in many ways. Most disturbing of all is that since taking control of the House in 2010 they have worked fewer days than any Congresses in our history. This can be expressed in terms that my generations’ parents used,…

Months To Recession But Obama Must Hang Tough On Cliff

If lawmakers do nothing, America faces fiscal tightening in 2013 worth up to 5% of GDP. That is a Greek-scale squeeze. No, it would not take many months for it to push the country into recession. But hopefully it won’t come to that and, conceivably, it could very well be the only way to Bring…

Congress Obviously Can Not Fix The Economic Crisis

I’ve been reading an excellent work, The Mess We’re In: Why Politicians Can’t Fix Financial Crises by Guy Fraser Sampson. The answer, to put it briefly is: “because they caused them”. One of the foundations of this excellent book is what I’ve also thought, and said, many times. That is, “within a Western democratic system,…

GOP Is Sure To Throw Debt Ceiling Tantrum-So Let’s Just End It

Must Republicans abuse every basic standard of humanity regardless of who it hurts  just so they can notch a “win”? We all know that Republicans are going to throw their newest hissy-fit using the debt ceiling; so let’s end what was intended to be nothing more than a parliamentary procedure once and for all. The…

Beware the Undead Zombie lil Grover Norquist

Anybody who thinks lil Grover Norquist is down and out hasn’t seen a zombie movie. You know the ones. Just when you think the evil zombie who has been biting young blondes’ legs off is finally dead, the hero begins to stand up from the supposedly-once-and-for-all dead zombie, it reaches up, grabs hero-boy by his…

Wrong Time to Feel Politics is Irrelevant

To many people politics has come to be irrelevant and is considered to be more about ideological issues than about making our lives better. And that is a shame. America’s middle class is agitated, angry, and/or weary of political theater and of confrontation that has little to do with the challenges the nation faces. Ironically,…

The GOP’s Deficit Boogey Man

The GOP is still pitching invisible boogeymen to voters, and the biggest, baddest boogeyman since President Obama took office, albeit never before then, has been the federal deficit. Why is it that some people are inherently more inclined to believe in what is not right there in front of them, than what is? England was…

“I Pity the Fool” That Obstructs Avoiding The “Fiscal Cliff”

To quote a well-known, prudent, compassionate scholar from the 1980s, “I Pity the Fool” who obstructs a mutual and effective collaboration in avoiding the “fiscal cliff”, come the 2014 elections. It is painfully obvious that the large majority of the American electorate wants cooperation, not confrontation, in Washington so that we can finally make some…

Mounting Evidence GOP Spending Cuts Are Recovery-Killers

As if any more evidence was needed to prove that drastic U.S. spending cuts is a recovery-killer, the euro zone debt crisis dragged the bloc into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday. Two quarters of contraction put the euro zone’s 9.4…

Please Mr. President: No More Wall Street Whiners

I see President Obama’s victory as one not just for himself and principles of Democrats, but renewed hope that he has come to understand macroeconomics. Given that most voters do not understand the economics of fiscal multipliers, bank recapitalization, or quantitative easing, they seem to have understood enough to reject the Republican narrative that fiscal…

What the Hell Has Happened to Our Democracy?

In conducting research for most of what I write, I correspond with many people well-read in economics and politics. And thanks to the internet, many of them are from other countries. Not surprisingly, the question I’m most often asked is “What the hell has happened to your democracy? The Republican Party seems to be dishonest,…

The Fiscal Cliff: I’m Ready For The Ride

The political arena is finally heating up beyond the land of debate prep. The “fiscal cliff” – what some call a pending economic calamity that is happening outside the bubble of the circus that has become American elections — is drawing closer, and analysts have already begun talking about the specific ways in which it…

Say Goodbye to Democracy If SuperPacs Succeed

Uber-Wealthy contributors behind right-wing campaign ads are after more than just victory in November. They’re trying to permanently reshape the political landscape–to change America from a Democracy into little more than a huge  banana republic; with a willing, complicit media. How else can we possibly explain what is happening before our eyes? We know that…

Choosing A President Has Made Us All Batcrap Crazy

What Americans allow themselves to be put through to choose a president, or any elected office it seems, is, to coin a cable pundit, batcrap crazy. The insane machinations Americans put themselves through to elect governing officials in general, and presidents specifically, has become an odd embodiment of some twisted manifest destiny of entertainment/politics/professional wrestling.…

GOP Win Means More 9/11, War, Economic Collapse, Class Warfare

It amazes me how short the memories of American voters can be. Aside from 9/11, the unnecessary Iraq War, the botched response to Katrina, Enron, WorldCom and the Great Recession of 2008, (all of which happened during the last Republican administration), Class Warfare on Unions, Women, Minorities, etc., all seem to be from another era;…

Unemployment Rates: More GOP Fuzzy Math Exposed

Now that the falderal surrounding last week’s unemployment report has died down, we can again disprove the fuzzy math that leads brainiacs like Joe Scarborough, JacK Welch, and the FOX Propaganda Network use to justify their paranoid conspiracies when actual arithmetic was the dastardly culprit. Aside from it being another example of conservatives either not being…

Say it With Me-Release the Biden!!

“Release the Biden” has been the phrase bouncing around in my head for weeks. Honestly, it’s been growing exponentially louder lately. Even as I watched brilliant orator, President Barack Obama, energize campaign crowds, I kept hearing a little voice in my head saying, “I wonder if President Obama is a better debater than he was…

Hyper Partisanship Means Not Learning From Our Mistakes

The U.S. has become a victim of one of the most common dalliances in the history of the world; not learning from its mistakes. That’s what hyper partisanship will do to a nation. That’s what hyper partisanship is doing to this country. It’s a huge diversion and it keeps the country from learning from its…

Bad Medicine is Killing the Economy

Bad medicine is killing the economy. As I have said before, allowing political ideology, politicians, pundits, and a.m. radio hosts influence or dictate economic policy for the U.S. is absolute folly. Let me go one step further. It’s like having a someone who reads WEBMD prescribe medicine; what we’ve been doing is letting that person…

Monetary Policy Helps But Conservative Policy Would Destroy America

Central banks on both sides of the Atlantic took extraordinary monetary policy measures in September, but Republican policies would destroy any chance of America regaining it’s once-lofty status. The long awaited “QE3” (the third dose of quantitative easing by the United States Federal Reserve), and the European Central Bank‘s announcement that it will purchase unlimited…

Jack Welch and FOX NEWS: Paragons of Misinformation

The September jobs report, which revealed a surprising drop in the unemployment rate, immediately provoked conspiracy theories among the Obama administration’s critics. Former General Electric chief Jack Welch and FOX NEWS, paragons of skewed and biased opinions, have added conspiracy and misinformation to their proud resumes. This past Friday, October 5th, and kicked off the…

Idea: Put Economics Back Into Debate on Economy

There is significant agreement among conventional economists, including those from  both the left and right, on most key macroeconomic issues. But watching Republicans and Democrats constantly go after one another in public over economic theories reminds me of the theatrics of “professional wrestling”.  It’s easy to  assume that there’s a world of difference in their…

Do Not Believe Romney or GOP Will Lower Your Taxes

I don’t have any way of knowing whether or not you believe Mitt Romney will lower your taxes, but there is no way in hell that I believe he will lower my taxes. Despite being a white, southern, working-class, male voter, Mitt Romney really only has one thing to offer me in exchange for my vote;…

We Can Still Fix This Broken Economy

~~~UPDATE FROM EARLIER POSTING~~~ Repairing the broken economy would be an easy homework assignment for any sober, realistic economist. We can fix this broken economy but we desperately need for Congress to grow up. The main problem with the U.S. economy is the intrusion of politicians where they don’t belong. Politicians are simply not equipped to search for,…

Romney and Republicans Have Only Scorn for Average Americans

Unless you’ve been living in a coma for the past week, you are aware that Mitt Romney holds a deep and abiding scorn for American workers and those who represent their interest. Long a suspicion regarding the wealthy like Mr. Romney, when he was speaking to donors in Boca Raton, he confirmed in no uncertain…

The Fiscal Cliff Looms On the Horizon

No matter who wins on November 6th, they’ll be staring down the barrel of the “Fiscal Cliff” and sequestration. For those of you who have avoided the political circus, you might want to know a little about what happens on January 1, 2013 if no agreement is reached on the budget control act and how…

The U.S. Economy: What Happens on November 7th, 2012?

 Since it’s election time, with all the expected bickering, shouting, blaming and finger-pointing that comes with it, my question is this: regardless of who wins, what happens on November 7th? A few weeks ago, I wrote an article showing in very clear detail illustrating that the GOP campaigns going back over a generation have not…

Romney’s Economic Plan–Shhh It’s Not Really His

The reason Mitt Romney’s 5-Point Plan sounds familiar is because it’s not really his;  the GOP Economic Plan hasn’t changed in 30 years, regardless of the economic conditions.  Throughout the Republican “preliminaries” I kept getting the feeling that I had heard most of what the candidates were saying before. Turns out I’ve heard Mr. Romney’s…

Citizens United-The Destruction of Our Democracy : Part 1

Having witnessed the current cycle political campaigns more closely than i normally would, (and with the dog and pony shows known as political conventions thankfully over) we are in the home stretch of this year’s election cycle. As such, I’d like to address one, Citizens United, of two (the other is voter suppression in a…

Political Conventions Are Needless Spectacles While Serious Problems Loom

As Americans’ ADHD turns to the ratings-driven, needless spectacles of the national political party conventions (the almost perfect characterization of a Dog and Pony Show) serious economic factors loom with impending ramifications to the U.S. completely lost on 75% of the American public. The recession in Europe, particularly Spain and the UK, grew stronger in…

Tampa Is Ground Zero for the Real Class Warfare

Republicans gather this week in Tampa, to nominate Mitt Romney for president. This is GroundZero for the real class warfare being waged in America. No more “quiet rooms” where Romney says taxes should be discussed. They will ruminate endlessly over how to change the national mood toward the absolute necessity of limited government, individual liberties and free markets.…

Romney: Myths, the Misses, and Impossible Mathematics

Frankly, I’m rather tired of the whole “Show me your tax returns” sideshow that has taken place lately. The problem with Mr. Romney is the same problem that occurred while George Bush was in office. There are just so many myths (Bane-when did he leave?), the misses (Mrs. Romney), and impossible mathematics (tax policy) taking…

Romney-Ryan is “Trickle-Down on Steroids”

As I have said many times, economic policy and its effectiveness is all about timing and implementation. The Romney-Ryan Plan meets neither criteria. “Trickle-down” was an utter failure for President Reagan and the Romney-Ryan Plan is “Trickle-Down” on steroids”. Economies are never static. They have natural ebbs and flows. To be successful over the long…

We Can Still Repair This Broken Economy

Repairing the broken economy would be an easy homework assignment for any sober, realistic economist. We can fix this broken economy but we desperately need Congress to grow up. The main problem with the U.S. economy is the intrusion of politicians where they don’t belong. Politicians are simply not equipped to search for, much less implement solutions.…

The Latest Bank Corruption Scandal Aids Iran

In the latest of a growing list of bank corruption scandals, foreign banks, until 2008 were allowed to transfer money for Iranian clients through their American subsidiaries to a separate offshore institution. In the so-called U-turn transactions, Standard Chartered Bank (an international banking groups with offices in 70 countries) claims to have only had to provide…

Don’t Be Fooled-There is an Easy Fix to Social Security

Social Security can be fixed. Easily. But the truth of the matter is that Social Security shouldn’t need fixing. The Social Security Trust Fund should currently have $2.5 trillion in surplus. But as in many such cases, Republicans have rewritten history to curry favor with their current base; even promulgating blatant lies about their own…

Romney Tax Stances Just Don’t Add Up

It’s no wonder Mitt Romney’s tax plan sounds so similar in tone to his steadfast refusals to release his tax returns; nothing about any of the Romney tax stances add up. The reason he steadfastly refuses to release his personal tax returns is easy. With as much damage as they’re doing to his campaign, there…

One Set of Rules For Big Business; Another for Everyone Else

If you don’t believe that there is one set of rules, laws, regulations and consequences for big business, big investors or big banks, and another set for everyone else, I would REALLY like to sell you some prime farm land in the middle of the Mississippi River. Yesterday’s Knoxville News (Tennessee) ran a story about a…

Are WE Really Looking At A Four-Corner Campaign for President ?

The U.S is suffering through the worst economy since the Great Depression and candidates for both political parties have decided, simultaneously, to play a Four-Corner Campaign Offense.  Forget about a “grand idea” for how to get us out of this self-inflicted gaping wound of an economy. Hundreds of millions of dollars are being spent, and…

UK & EuroZone Deep Recessions Spell Disaster for U.S. Under GOP

The UK’s double-dip recession has deepened sharply and unexpectedly in the second quarter leaving their economies smaller than they were when conservative governments took office. With the entire Euro Zone in recession,(Spain and Greece already in Depression territory),China building enormous inventories of everything from steel ($500 billion and counting) to snow globes, and now England…

Treasury’s Failures Bear Partial Blame for Weak Recovery

The Department of Treasury’s abject failure to keep its promises regarding the 2008 financial crisis is at least partially to blame for the weakness of the recovery; most notably its failure to scale back the size and complexity of Wall St. banks and its promise to use part of  TARP to “preserve homeownership.” The Home Affordable…

London / Wall St. Competing for Least Trusted Financial Center

London and Wall St. are apparently competing for the position of most disliked and least trusted multi-national financial center. Unfortunately, one after another banking scandal is getting almost no airplay in the U.S. at a time when a large portion of the population is struggling just to stay above water. In the latest example of banksters…

Facing the Truth that America Has Lost its Ethics is Painful

Facing up to the truth that America has lost its core ethics is painful, but true nonetheless. Evidence? One after another bank scandal in which no one is held accountable-much less punished The total evisceration of GOP political morals and The accelerating extinction of the once-mighty, but now endangered American middle-class By any standard of…

LIBOR: THE CULMINATION OF DECADES OF DISASTROUS DE-REGULATION

The LIBOR scandal that has overwhelmed London in the past week is now splashing onto America’s shores, and is the culmination of decades of disastrous de-regulation. It’s negative effects on the economy CAN NOT be overemphasized.  AUTHOR’S NOTE: And what did network “news” focus on last week for two days? Whether the Affordable Care Act…

LIBOR: Just When You Thought It Was Safe to Go Back To Your Bank…

Just when you thought it was safe to go back to your banks, this newest banking scandal, involving LIBOR, explodes. LIBOR (short for London Interbank Offered Rate) Abuse is essentially a fancy term for massive inside trading; quite possibly more harmful, more insidious, and more unfair than 10 housing bubbles. Scary? You bet. Does anybody…

Network News Divisions are Complicit in the U.S. Financial Crisis

News divisions used to be cost centers funded by entertainment divisions and the advertising that sponsored entertainment. Not anymore. All five of the Networks below reported on the earth-shattering “news” that “Katie is leaving Tom”, but not how perilously close we are to economic meltdown. Why? Economic meltdowns aren’t sexy. This makes the once-respectable and…

Will Anyone Stop This Runaway Train To Great Depression 2.0?

Apparently, The Federal Reserve, the U.S. Congress, the European Central Bank, Germany, France, even China and Russia, have all decided that avoiding the runaway train that is the coming economic catastrophe is somebody else’s responsibility. As much as I hate to admit it, it appears to me that the party is over. The runaway freight…

The Affordable Care Act has Republican Roots

“Just because a couple people on the Supreme Court declare something to be ‘constitutional’ does not make it so”-Rand Paul, (R) Kentucky Despite the obvious idiocy of the statement above, the Affordable Care Act has roots in recent Republican history as a cause for many a Republican’s wet dream…unless of course it has President Obama’s…

The Difference Between the GOP and Democrats

The fundamental difference between the way the GOP and Democrats think boils down to the answer to one single question: who bears the cost of prior governing mistakes? From the years I spent working for Fortune 500 companies or large law firms, I learned that the one thing they have in common is a basic…

Myth-Busting: GOP Lies On the Deficit and Spending

Republicans repeatedly place the blame for both the size of the national deficit and an “extraordinary” growth in spending at the feet of President Obama, but nothing could be farther from the truth on either point. Of all the onerous lies, the GOP and GOP supporters repeat, this one is the most often because they…

Will Judicial Activism Kill The ACA (and Untold Americans)?

Consensus, aided and abetted by a ratings-driven, corporate media, says that a conservative majority that has perfected judicial activism on the Supreme Court of the United States has become just another cog in a larger right-wing wheel to make progressive economic and legislative victories a thing of the past. However, consensus seems that the Supreme…

Lies About Obama’s Economy Republicans Love To Tell

  I realize that nothing unites Republicans, especially ego-maniacal blowhards like Joe Scarborough at MSNBC, (who spent the first 30 minutes of his show bellowing about “this President’s spending on” [insert your favorite Republican Talking Point here]) quite like the unshakable belief that Barack Obama has been unable to stop himself from squandering “ridiculous” sums…

GOP Austerity Gobbledegook De-bunked: Again!

If the majority of U.S. voters are stupid enough to buy into the GOP economic austerity gobbledegook and swallow their crazy, backwards, delusional, cockamamie economic theories, we deserve another Great Depression. I hate to admit it, but my dad may have been correct. He always told me that people generally get what they deserve. Last…

The GOP is Turning The American Dream Into A Nightmare

In my lifetime, The GOP has turned the “American Dream” from a badge of honor for our country into a cruel joke. Like a schoolyard bully, they’ve taken the carrot dangling in front of our faces that was an incentive to work harder and move forward and are holding it in the air, out of…

Must The GOP Always Use Fuzzy Math?

Once a discussion of Austerity vs Stimulus economics begins it’s clear that for either to work properly, it must be implemented in the same balanced manner as a math equation. Both sides of an equations, regardless of layout, format, methodology, or complexity. One plus one not just does equal two, one plus one MUST equal…

The Cure for the Republican Economic Bird Flu

The Republicans/Conservatives have infected the global economy with an economic bird flu crisis. Luckily there is a cure. The type of economic crisis that we are in consists of two distinct stages. We are now in the second and increasingly lethal  stage. This crisis is global in its scale and degree of its reach. It…

GOP Myths On The Economy

Myths seem to abound whenever economics is the issue. Below is a serious attempt at debunking some of the more prevalent bumper-sticker, no-basis-in-fact myths promulgated by the GOP. These are the most-often misquoted myths by conservatives who have brain-washed the masses who depend upon such economic intellectual giants like Joe Scarborough, Sean Hannity, and Rush…

Debt Ceiling Part Two: Economic Disruption Is GOP Goal

John Boehner, the leader of the House Republicans, has promised yet another fight with the White House over the debt ceiling. The euro zone is in deep economic trouble. The red-hot economy in China is slowing…quickly. The Federal Reserve is wavering. Yet, the biggest threat to the emerging U.S. economic recovery may be the obstructionism…

Austerity: The Real Euro Crisis Begins in Spain

For months, I’ve tried to explain that the real reason for concern regarding the euro is Spain, not Greece. Greece is largely symbolic; and easy fodder for conservatives to make a false equivalency between the poor in the U.S. and the “lazy Greeks”. In spite of all the baseless claims and bumper-sticker slogans tossed around…

Conservatism and Great Depression 2.0

So you think another Great Depression is unthinkable? Over the next days / weeks / months you will hear many times that Greece will / will not exit the euro and what it will mean to the U.S. and the world economy. In either of the scenarios, it will be disastrous. But I’m here to…

Do Not Believe the GOP: Social Security Is Running A Surplus

Adding yet another BIG LIE to the GOPs expanding list: Social Security actually added a $69 billion(with a “B”) SURPLUS in 2010 and $95 billion to its surplus in 2011 according to the 2011 Social Security Board of Trustees Annual Report. So, 2011’s net gain brings the Total Social Security Surplus at the End of…

Don’t Be Fooled-The GOP is Anti Capitalism

Capitalism is not perfect and is vulnerable to both human nature and some major flaws that have flourished since the Presidency of Ronald Reagan. In order for true Capitalism to function correctly, the government has to counter the flaws of capitalism, without hindering the market place, and provide a level playing field to insure competition…

Strange Bedfellows Make 2012 Elections Unpredictable: Op-Ed

Occasionally, I “go off the rails” and want to freestyle some thought processes other than economics. Hence, the “Trans” (going beyond) in Transecon. This is one of those times. The world economy is damned fragile at the moment. France and Greece shook things up a bit with their recent elections. Germany’s unpredictable response to their…

Stop the GOP Assault on the U.S. Economic Future

The GOP is assaulting the U.S. economic future along with women in general, Hispanics, civil liberties, education, and anything else the Koch Brothers might feel could interfere with their desire to own America. It’s time for the American electorate to stop listening to television “news organizations” that are more interested in stirring emotions and ratings…

It’s The Income Inequality Stupid!

Before the late 1970s, few economists in the United States gave much thought to the idea of economic inequality. In fact, it was hardly mentioned at all. However, as conditions have changed in the last 30 years, the incomes of the nation’s wealthiest 1 percent have surged, and drawn the scrutiny of a growing field…

U.S. Leadership – From Super Power to the World’s Problem Child

U.S. leadership, despite all its shortcomings and missteps, has been the brick and mortar of global stability since  World War Two. Despite the world experiencing a tectonic shift in economic and political power since the 19th century, no other nation, nor group of nations, is emerging that would be as prepared or equipped to exercise leadership…

War : A U.S. Economic Strategy

Is it just me, or does the value of the U.S. dollar and the U.S. involvement in wars seem to follow one another around like high school best friends?  The Bretton Woods Accord and the status of the U.S. dollar as the world reserve currency coincided with the end of World War II (1939-1945).  The…

Revolutionary War-Republicans-And the New Confederacy

As a native of a historically significant Civil War city in the southern United States, as well as an economist, I have often had the feeling that by electing its first black President, the normal U.S. partisan politics were going to take on a completely new and intensified atmosphere. Not to make a direct comparison,…

Have Corporations Become Sovereign Countries ?

Have corporations become sovereign countries within our country? Is this the hidden agenda behind Citizens United, the War on Women, voter suppression, the vitriol surrounding the Affordable Care Act? Few would disagree that the world’s biggest companies appear to have as much influence, if not more, than sovereign nation states. David Rothkopf argues in his…

Another Alarming Failure of “Reagan” Economics

Except for a few Republicans stuck in the quagmire of Reaganesque , fallacy-riddled, supply-side economics, we know now that trickle-down economics simply does not work and never has. For proof, one merely has to look at the plethora of independent data that has flooded both economists’ observations and leading publications for more than two decades.…

Ryan Determined to Push Budget Deleterious to Workingclass

Paul Ryan puts together a budget like most Republican, frat-boy types; he lies, cheats, and steals. Poster boy for “the Republican new-breed conservative”, Ryan is many things, but suspicious that the public-at-large will see through his economic cow pies is not one of them. One would think that after the public plastering his 2012 budget…

Do Not Let The Republicans Frame the Gasoline Debate

For the life of me, I cannot understand how the people of the United States continues to let a chosen few run roughshod over our political discussions, much less how much we pay for gasoline. The “outrage of the week” for me has been the slow crawl of gasoline prices and how a few blockheads…

The JOBS Act: Brother Can You Spare a Dime?

The JOBS Act. Is there no end to the intent of Wall St. and the 1% to bring about the destruction of the U.S. economy? As dumbstruck as I remain by the inexplicable repetitiveness of the political enabling for speculators to continually gouge the average U.S. citizens, I am even more so by total Congressional…

What could bring gas prices back to earth.

The last time the price of gasoline was below $3 a gallon was just before Christmas in 2010. What would it take to get the price at the pump down from its current level of $3.83 a gallon to what it cost fifteen months ago? Is $3 a gallon a historical relic? What could bring…

The Truth About Gasoline Prices

What or who is actually to blame for the seemingly random peaks and valleys of the gasoline game? Gas prices have definitely tamped down President Obama’s political polling in the last few weeks and every time this happens cries go out for someone to do something. The truth is, U.S. gasoline prices rank 101th in…

Little Grover to the Republican Rescue

Little Grover Norquist and his manipulative masters of all things conservative, the billionaire Koch Brothers, are feeling a tad threatened these days. What with Republican Presidential candidates alienating voters in droves via inane rantings on the evils of contraceptives to the love of lakes, one can hardly blame the Republicans who want to rule The United States…

Why Have There Been No Wall Street Perp-Walks?

Attorney General Eric H. Holder Jr. announced in a speech last week that when it comes to fighting financial fraud, the Obama administration’s “record of success has been nothing less than historic.” Horse Meadow-Pies! Such a grandiose statement is not only self-promoting, and thus suspect on its face, it’s also just not true. Granted, Republicans…

Forget Dodd-Frank: Reinstate Glass Steagall

I can only imagine what a stampede of bison must have sounded like in the early 1800s. I assume it started as a barely audible rumble… maybe nothing more than a faint vibration. One thing is clear though. It was a sound that no one on the plains wanted to hear. Numbering in the millions,…

Libertarians – Historically Lousy Economics

Since the current Republican candidates hasten to promote “limited or no government,” I thought I would discuss the macroeconomic history of laissez faire – libertarianism of the last 150 years. This philosophy has many Ron Paul followers believing in it (and him) due to its simplicity and lack of necessity for understanding the myriad facets…

Proof That Austerity Does Not Work in a Recovering Economy

Economics is as much about timing and conditions as strategy and policy. Trying to implement austerity measures during a recession is tantamount to trying to kick a field goal in a 60 mile per hour headwind. There’s a time and place for virtually every economic policy known to man. The key is implementing the right…

Just How Scuzzy is Mitt Romney? You Have to Read it to Believe It !!!

I normally try to confine my posts to matters involving the economy. But sometimes, a speech, or a statement made by a politician so disgusts me that I simply have to comment on it or risk spontaneous combustion. Yesterday involved such an event. As reported in several Michigan newspapers, among them the Detroit Press, Republican candidate…

Is the Dollar the Next Euro?

As we are all aware, the United States is stuck in a slow growth recovery from the Great Recession of 2008 and 2009. And while there have been some encouraging signs in the job market lately, it’s no wonder that neither consumers nor investors are jumping up and down to spend their money When the…

The New Silent Majority

In a quiet suburb of Jackson, MS some church-goers gathered to chat about politics, their country, the announcement that all troops would be coming home from Iraq after 8 long, hard years. “Civility”, said Tom Richardson, a Democrat (one of the few willing to admit it in the reddest of red states), “There’s no such…