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 137)
London G20 Protest: Biggest Since Iraq War?
From Sunday's (it's still Saturday EST) Observer: The voices in G20's chorus of protest
FDIC Bill Attempt To Bypass TARP battle
From The Wall Street Journal: MARCH 7, 2009 FDIC Bill Dodges a New TARP Fight Wall Street Journal By DAMIAN
January Consumer Borrowing Rises
From The International Herald Tribune: Borrowing in U.S. rises unexpectedly The Associated Press Friday, March 6, 2009 WASHINGTON: U.
Scargill: We Had Deal with Thatcher
From The Guardian: We could surrender - or stand and fight' It has been 25 years since the miners'
UK Government Takes over Lloyd's
From The Guardian: Government takes over Lloyds Taxpayer will own up to 77% of banking group after disastrous merger with
Not Enough Cram Down On Mortgages
Congress passed a bill yesterday that would give bankruptcy judges the limited ability to "cram down" or rewrite
IMF Blames Crisis On Lack of Regulation
From the International Monetary Fund, you know, the people who shoved unfettered global profit-seeking down the throats of impoverished
Nation Institute Panel on Crisis Tonight in NYC
Meltdown: The Economic Collapse and a People's Plan for Recovery A Free Panel Discussion Join Joseph Stiglitz, Barbara
Job Bytes, March 6 (Dean Baker)
Hat-tip to reader Panayiotis M. for reminding us about Dean Baker's weekly employment notes, available here (and
Confusion, Tunneling, and Looting
Interesting post from the blog Baseline Scenario. Emerging market crises are marked by an increase in tunneling—i.e., borderline
Blue-Green Insurgency
This is by Carl Davidson, at the excellent website SolidarityEconomy.net. Blue-Green Insurgency Gets Fired Up at the DC
Black Male Jobless Rate: 16.1% in February
From Bob Feldman; includes key excerpts from today's BLS report. Black Male Worker Jobless Rate: 16.1 Percent