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 140)
The Costs of the Blockade—for the Blocker
The 47-year-old blockade now costs the United States far more than it costs Cuba.
Renters In the Crosshairs
Community organizers are fighting for renters facing eviction because of foreclosure.
Dear Dr. Dollar:
I learned in my economics classes that in a market economy, problems tend to be self-correcting: when a recession starts, demand weakens; then prices drop, people and firms start to buy more and the economy picks up again. So why don't we see this kind of self-correction now? Why does it seem as if
Bleak Picture in Asia, More Gloomy Thoughts
On Asia, from the Financial Times. . A tidbit: "The figures are further proof that Asia's economy fell
Warren Buffet Feels the Pain
More from Across the Curve. And here's what the FT has to say out it: Buffett's
Nordic Economies Tanking
Even the virtuous Nordics (including Finland)are feeling the full effect of the crisis. From LSE Macroeconomic News, courtesy of
Essential Reading from Yesterday's FT
In case you missed it, due to Friday night carousing, or whatever... --Whistleblower contacted US regulators (should they even be
Report from Eastern Econ. Assoc. Meetings
I (D&S co-editor Chris Sturr) am in New York City for the annual meetings of the Eastern
Obama's ($1.7 Trn Deficit) First Budget
From The Financial Times: Obama forecasts $1,750bn deficit By Andrew Ward and Edward Luce in Washington Published: February 26
US and UK Increase Stakes in Banks
From Reuters, again: Governments tighten grip on banksFri Feb 27, 2009 11:55am EST Reuters By Steven C. JohnsonNEW YORK