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.
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Add this to the list of ways the 1930s are making a comeback. Over the weekend hundreds of workers at
Marxism and Morality
Many Leftists encounter difficulties navigating between the Scylla of dispassionate structural economic analysis and the Charybdis of moral outrage at
Flat-Earthers To Square Environment Circle?
This is wacky, indeed. Got it off Agence France Presse site. A tidbit: "..."an astonishing switch" by
Krugman Sees End of US Auto Industry
Paul Krugman, in Stockholm (here's a link to the live webcast of Monday's Nobel lecture, which
Who Rules GM?
GM is famous for being one of the world's largest transnational industrial corporations, for laying off its U.
Foreclosures soar. Prime borrowers next?
According to the latest report by the Mortgage Bankers Association (MBA), 1.35 million homes were in foreclosure in the
Banks and Low Interest Rates
Reuters on a conundrum banks face in hard times. Given the deleveraging and subsequent asst-writedowns the banks are still
Something Else To Worry About
The Financial Times' John Authurs on last week's other (besides the US jobs reports) big event affecting
Stock Market Surges on Bad News!
This posting is from D&S collective member and frequent blogger Larry Peterson. To see more of his posts,
Black Male Jobless Rate: 11.9% in Nov.
The official seasonally adjusted unemployment rate for Black male workers over 20 years of age increased from 11.6% to
What Now?
Hongkong and Singapore Bankcorp (HSBC) post-employment report policy outlook from Across the Curve Not for the faint of heart.
Nov Job Losses 1/3 More Than Forecasted
This is an awful, awful number, comparable to the 602,000 lost in December, 1974 (and September's figure