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 171)
Black Friday?
Now we've got a particularly toxic mix of recession fear and possible reversal in interbank lending. This spells
Notes on the Financial Crisis (Tom Weisskopf)
We've posted threeweb-onlyarticles drawing on notes on the financial crisis by Tom Weisskopf, professor of economics at
Automakers Ditch Jobs, 401Ks, and NASCAR
A quick gloom and doom update on the US auto industry today. Chrysler announced that it was cutting 1,825
On the More Serious (Only Just) Side
Interesting article from the International Herald Tribune on Paulson's kicking-and-screaming acceptance of his "inner statist.
Greenspan Is Shocked! Shocked!
This definitely falls into the "Give me a break" category In case anyone didn't know, Greenspan
NOT a Slow News Day
This posting is from D&S collective member and frequent blogger Larry Peterson. To see more of his posts,
Interesting Piece on Marx and the Crisis
From Stumbling and Mumbling. Hat tip to Economist's View. I don't agree with all of this,
Something Good Comes Out of the Crisis!
Remember, though, all those who will be (and have been) hurt by the effects of this monumental waste; and that
Banks Mine Data and Woo Troubled Borrowers
A good article in yesterday's New York Times talks about data-mining companies that specialize in finding credit-
Bleak Earnings Swamp Stocks
Just posted to wsj.com: By PETER A. MCKAY | Faltering profits and fears of global recession sent stocks into a
More Bad News For Automakers
Billionaire investor Kirk Kerkorian is cutting his losses by shedding part of his 6.49% stake in Ford Motor Company,
Trading Places
And, from Ha-Joon Chang (whose new book Mark Engler will review in a forthcoming edition of D&S)