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 134)
Why Are AIG INVESTORS Getting Billions?
Before he went down for, ahem, going down, Eliot Spitzer was the guy Wall Street feared most. He's
Unemployment Rate On Par With 1982 Recession
A new report from CEPR. Download the pdf of the full report here. can be found here
Fed Spends Another $1.2 Trillion On Bailout
Another trillion plus to lower mortgage rates? Is this really supposed to help anything? From the Washington Post:
Europe Defended Against Krugman
In a New York Times op-ed Monday, Paul Krugman criticized European governments for under-reacting to the financial crisis:
Amazon Kindle Equals the Death of Personhood, Ownership, and Free Speech?
An interesting if broad-brush attack on e-book readers in today’s Christian Science Monitor: Read it here.
Capital Flowing Out of Developing Countries
From Nouriel Roubini’s RGE Monitor: The reversal of capital inflows due to deleveraging or losses in financial markets has
A Bit More on Madoff and Wiesel
In my earlier post expanding on Joe Nocera's column on Madoff's victims, I'd meant
D&S in Polish
We just received a pdf copy of the March issue of the Polish edition of Le Monde diplomatique, which includes
Madoff's Accomplices: His Victims (Nocera)
Finally, somebody in a mainstream publication says something close to what I have been thinking about the Madoff victims. In
AIG, Labor, and the Sanctity of Contracts
Today's main columnist in the New York Times business section, Andrew Ross Sorkin, echoes the comments Larry Summers
Single-Payer Rally in Burlington TODAY
This is happening in about 45 minutes, but in case any of our readers happen to be in Burlington... Hundreds