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 163)
3 Links on Global Demand
Reviving demand in the face of unprecedented deleveraging on the part of consumers and corporations (leaving governments--many already indebted
Why Should We be Surprised? (Yves Smith)
We noticed the article in today's NY Times that the GAO will be releasing the first audit of
Change Immigrants and Labor Can Believe In
By David Bacon The Nation, web edition, November 26, 2008 Since 2001 the Bush administration has deported more than a
Motor City Meltdown (Thomas Palley)
Thomas Palley's latest policy op-ed. The financial crisis that began in 2007 has been persistently marked by
Neoliberalism, the IMF, Summers, & Geithner
Interesting post by Ken Hanly on lbo-talk, about Obama's new economics appointees: Timothy Geithner (to be Treasury
George Monbiot on the 'Other Crisis'
From the fantastic Tuesday morning Guardian columnist's latest. Note in particular this little item: "This approach is
In Other News: Three More Banks Go Down
Another one of those stories that would normally be front page news for a week but barely registers these days:
Bailouts Dwarf Spending on Other Crises
A new report from the Institute for Policy Studies documents how much more money is spent to bail out banks
Another Important Story Today
From today's Financial Times. This suggests that the selloffs from pension and other funds, that have followed the
Some Wise Words on the Citi Bailout
From Across the Curve: The Citibank story is certainly the top story of the day. I know the news broke
Citi bonanza for Goldman or Morgan?
According to Bloomberg.com: ... In related news, analysts predict that the purchase of Citigroup Inc. would "significantly" add