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 173)
Monday's Developments
This posting is from D&S collective member and frequent blogger Larry Peterson. To see more of his posts,
Real World Nobelist
Looks like the Nobel committee in Stockholm is doing another "Amartya Sen" (Sen, a noted Indian maverick, dismissed
A Short History of Meltdown Control
From The Observer (London): The biggest bet in the world By the time G7 finance ministers met on Friday afternoon,
The Other Financial Crisis
From the BBC: Nature loss 'dwarfs bank crisis' By Richard Black Environment correspondent, BBC News website, Barcelona The
It's Going To Be A Fateful Weekend
This posting is from D&S collective member and frequent blogger Larry Peterson. To see more of his posts,
General Motors In a Ditch
GM shares plunged to their lowest price since 1949 before recovering slightly, reports the Washington Post. Analysts are concerned that
Dow Drops 680--Under 8600
From the Wall Street Journal online: By PETER A. MCKAY | OCTOBER 9, 2008, 5:10 P.M. ET The stock
Hard New Look at Greenspan Legacy (NYT)
From today's New York Times, an interesting piece about Alan Greenspan's attitude toward derivatives. By PETER
October Surprise
This posting is from D&S collective member and frequent blogger Larry Peterson. To see more of his posts,
It feels good to be an insurance exec too!
Executives at insurance behemoth AIG must have been really stressed after getting an $85 billion bailout from the government. That
Damn It Feels Good to Be a Banksta!
Hat-tip to Jordan Hayes on lbo-talk for this gem. See the whole cartoon.