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 172)
Thoughts from an Unusual Quarter
Poor performance on markets in New York, despite movement in money and commericial paper markets (and oil down another 4%
Economic Positions of (almost) All the Candidates
Compare the records and policy proposals of not only John McCain and Barack Obama, but also Libertarian Party candidate Bob
Bernanke Endorses Obama [sorta]
And this from the cranky side of the Wall Street Journal—the editorial page: Bernanke Endorses Obama There was a
Obama and Paul Volcker
From today's Wall Street Journal, an article about Obama's relationship with former Fed chair Paul Volcker;
...But It's Always Wise To Heed Nouriel Roubini
All the bubbles are bursting Radical, coordinated action among all advanced and emerging-market economies is needed to avert the
The Worst May Be Over...
Markets worldwide are reacting favorably to (from Reuters): Interbank lending, stimulus provide hope in crisis Monday, October 20, 2008 By
Gordon Brown Raises the (Borrowed) Ante
From the UK Independent. Some really scary stuff here. The UK measures are, comparatively speaking, very bold, but the country
Bailout-Related Giveaways
From Michael Perelman, who cites a Wall Street Journal article. Do try to resist the urge to punch walls.... More
Financial Innovation in Desperate Times
But these are initiatives of (increasingly desperate) governments, not financiers. First, from The Observer (London): Bank Chiefs Ordered To Cut
CEOs cause meltdown, take 10% cut of bailout
"Pay yourself first" goes the personal finance maxim. Apparently the current and former captains of America's
Mom Gets Screwed Over by a Tiny Advantage
Hi! This is Barry Deutsch. My cartoon "Ampersand" has been appearing in Dollars & Sense for years. I&