The Plutonomy—AI Edition—and the Coming Crisis
Driven by speculative finance, stagnant wages, and AI hype, today’s tech-heavy economy mirrors the fragile plutonomy that collapsed into the Great Crash of 1929.
Latest news (Page 128)
Mall Operator In Bankruptcy
You know it's a really bad sign when sales are so slow that the malls are closing up.
More on AIG Bailout and Goldman's Earnings
Sent in by our long-lost collective member Faisal Chaudhry: Fresh on the heels of the euphoria in the financial
Most Positive View of Income Taxes Since 1956
A recent Gallop poll shows Americans have a more positive view of income taxes than they have had in recent
On Events in Thailand
The Financial Times has a tolerable opinion leader (never mind the idiotic title) today on the dividing lines in big,
What Harvard Money Managers Make
As we reported earlier, Harvard expects to lose $11 billion, or 30% of its endowment (just what they lost is
China Reduces US Dollar Reserves In February
It's hard to tell how significant or durable an occurence this is, but it certainly deserves close attention.
Consumer Prices Fall Despite Stimulus, PPIP
It's energy and food prices to a big extent, which is good, but even the whiff of deflation
Questions About Goldman's Great Quarter
Interesting times at Goldman Sachs. In September of 2008 it became part of the US banking system (now the country&
Poor Retail Sales Counters Optimism on Banks
From Reuters: Retail sales show recession far from bottom Tue Apr 14, 2009 1:42pm EDT By Lucia Mutikani WASHINGTON
China To TIGHTEN Credit
They did this in the run-up to the crash, too. And were blamed for it then. Article contains a
The Two Piracies in Somalia
Democracy Now! had an interesting segment today shedding some light on the root causes of piracy off the coast of
Frank Rich on Larry Summers
A follow-up on the last post (about Harvard money managers lost $11bn): Frank Rich's column in Sunday&