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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Crowding Out Bites Back
Many economists, like James Galbraith here, have rightly dismissed arguments to the effect that deficit spending, especially in today'
Harvard's Endowment Taking Big Hit
Our contacts at Harvard's Faculty of Arts and Sciences (the division that includes Harvard College and the graduate
Financial Crisis Hits Immigration Debate
From MRZine: The Financial Crisis Hits the Immigration Debate by David L. Wilson Part of the right wing routinely blames
Recalling Big Banks' Role in Telecom Bust
From Bob Feldman: As long-time readers of Dollars & Sense probably realize, some of the same Wall Street big
Michael Perleman's Thanksgiving Rant
Cute piece, especially for a rant. From his Unsettling Economics site Matter and Antimatter: How to Create a Crisis: A
Interesting Piece on Mobility
From the December issue of Britain's Prospect magazine. A pretty good, easy-to-read treatment of some of
More on the Fed's Balance Sheet
From Credit Writedowns via Yves Smith at Naked Capitalism: If the Fed were a commercial bank, it might be declared
He's Making a List, and Checking It Twice
Not Santa (yet), but New Labour's loathsome Peter (now Lord) Mandelson. The idea of Lord M. being turned
Weaponizing Credit Default Swaps
Another lovely investment strategy for tough times. From Friday's Financial Times: Speculators are being armed by banks to
Bank of America Next?
Found this Reuters link on LBO Talk: After Citi, is Bank of America next? Mon Nov 24, 2008 6:52pm
Geithner & Kissinger Associates--pt. 2
From Bob Feldman: Treasury Secretary Designate Geithner's Kissinger Associates Connection--Part 2 Between 1986 and 1989, U.S.