money

Nick Beams – The rot at the heart of the American economy

Amid continued economic stagnation in Europe, with euro zone output still below the level of 2007, and decelerating growth in China and the so-called emerging markets, the United States is sometimes held up as a “bright spot” in the global capitalist economy. But more than six years since the official trough of the Great Recession in the second quarter of …

global

Stephen Lendman – Global Derivatives: $1.5 Quadrillion Time Bomb

When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives.  Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion – about 20% more than in 2008, beyond what anyone can conceive, …

What Recovery? Report Reveals Rising Poverty for Children in America – Sarah Lazare

There are roughly three million more U.S. children living in poverty today than during the outbreak of the Great Recession in 2008, and the so-called economic recovery has bypassed children of color altogether, a harrowing new report reveals. The 2015 Data Book, released Tuesday by the Baltimore-based Annie E. Casey Foundation, evaluates information from numerous federal agencies from 2008 to …

4 Things That Are Happening Today That Indicate That A Deflationary Financial Collapse Is Imminent By Michael Snyder

When financial markets crash, they do not do so in a vacuum.  There are always patterns, signs and indicators that tell us that something is about to happen.  In this article, I am going to share with you four patterns that are happening right now that also happened just prior to the great financial crisis of 2008.  These four signs …

for sale

US home ownership rate hits lowest level in two decades By Andre Damon

The economic recession that began with the collapse of the housing market in 2007 officially came to an end in June 2009—more than six years ago. But by most indications, American households are significantly worse off than they were at the depth of the downturn. Despite the drop in the official unemployment rate, household incomes have fallen, wages have stagnated …

How to Steal from the Taxpayers While Blaming the Poor – Paul Buchheit

a vicious circle of hypocrisy: Americans dependent on the safety net are urged to “get a job” by the same free-market system that pays them too little to avoid being dependent on the safety net. Theft, Part 1: The Average U.S. Household Pays About $400 for Safety Net Programs for Low-Wage Workers According to the Economic Policy Institute, $45 billion per …

It’s the Planet Stupid!: Capitalism and The Destruction of the Commons – John Atcheson

There is a war going on right now between those who are working to protect the commons and the hard-core capitalists, who are working to privatize our economy, culture, ecology, environment and government. The stakes are high. The outcome will determine whether we live in a dystopian chaos, or a civil society; whether we preserve our natural life support system, …

Plutocrats torched the economy: Our new Gilded Age & the hollowing out of America’s middle class – ELIAS ISQUITH

You may recall how in 2013 — and then again in 2015 — President Obama tried to give his economic vision a snazzy name, something to compete with “trickle-down economics” in terms of memorability and pith. What he came up with, and has stuck with since, is “middle-out economics,” or sometimes “middle-class economics,” which is supposed to communicate his and …

Middle Class? What Middle Class? – Jack A. Smith

A complex class system exists in the United States, but the mass media and political rhetoric generally reduces it to three components — one middle class, and two economic generalizations —rich and the poor. Indeed the term “class” itself, as a means of defining the economic and social status of the population, has been fading away. There are, of course, a …

Junk bonds

Junk Bonds Are The New Haven Assets – Anchalee Worrachate Sally Bakewell Katie Linsell

The new fixed-income haven is, of all things, the market for junk bonds. With government bonds in Germany to Japan yielding less than nothing, money is pouring into exchange-traded funds that buy speculative-grade debt, traditionally the riskiest of fixed-income assets. The pace is staggering. So far this year, about $9 billion has flowed into the funds globally, a significant chunk …