Posts Tagged ‘economy’

Trump Economic Policy

August 10, 2016

Trump Economic Policy

Donald Trump — meat purveyor, TV reality star, and Republican presidential candidate — trotted out some phrases disguised as an economic plan on Monday. They were phases familiar from the last 30 years of the GOP’s trickle-down, deregulating, big-corporate, no-taxes-for-the-rich philosophy, the failed policies that crashed the world economy when Republican leadership was last inflicted upon the nation, making the rich even wealthier at the expense of the rest.

After lambasting the Republican elites and their policies during the primaries, why is Mr. Trump suddenly embracing the old GOP worldview? Looks like he wants those wealthy guys to fund his general election campaign– he’s peddling high-dollar tickets to fundraising events at the homes of the rich. No wonder he named “six guys named Steve” and other billionaire hedge fund and real estate speculators as his “economic advisers“.

More:

“Sliding Trump Seeks Solidarity With Establishment He Spurned,” Sahil Kapur, Bloomberg

“Donald Trump Sells Out to Trickle-Down Economics,” John Cassidy, The New Yorker

“Trump’s Frankenstein economics,” Ben White, Politico

Related:

“Donald Trump wants to slash your child care bill. But he’s doing it all wrong.” Jeff Spross, The Week

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Market Correction

August 22, 2015

Market Correction

On Friday Wall Street deflated with a mighty belch, as the Dow dropped over 500 points, the worst one-day loss since 2008. Overall there’s been a 10 percent drop from the May 19 peak, so it’s officially a “Market Correction.

Why? Some blame it on the fears about the instability of China’s economy, others on the EU and Greece, or the Fed, or the low price of oil and other commodities, or the Zodiac.

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Today’s Economy: Agnes Török Explains It All to You

July 19, 2015

“Worthless,” written and performed by Agnes Török of Loud Poets. Film by Perry Jonsson; music by Robbero.

h/t: S. Abbas Raza

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Congress Gives the Jobless a Christmas Gift

December 28, 2013

Congress Gives the Jobless a Christmas Gift

“More than 1 million Americans are bracing for a harrowing, post-Christmas jolt as extended federal unemployment benefits come to a sudden halt this weekend, with potentially significant implications for the recovering U.S. economy. A tense political battle likely looms when Congress reconvenes in the new, midterm election year.”

— “1.3 Million Losing Unemployment Benefits Saturday,” Bradley Klapper, Associated Press

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Price of the Tea Party Tantrum

October 17, 2013

Price of the Tea Party Tantrum

The Tea Party Republicans in Congress shut down the United States Government for over two weeks. They did it to protest … something. In the end, it gained them … nothing. Federal employees will be paid retroactively, but government contractors and retailers serving public employees and their families had no business this month. Of course, the salaries of cranky congressmen continued uninterrupted.

The shutdown is over, at least for now, but what has this Republican hissy fit cost America? The total tab won’t be complete for another couple of months, but Standard & Poor’s puts the loss to the economy at $24 billion, $1.6 billion a day.

More:

“Gridlock Has Cost U.S. Billions, and the Meter Is Still Running,” Annie Lowery, Nathaniel Popper, and Nelson D. Schwartz, New York Times

“Was the Point Republicans Made in the Shutdown Worth the Price?’ Gerald F. Seib, Wall Street Journal

“What You Can Get For The Price Of A Shutdown,” Bryce Covert, Think Progress

“House Republicans Hold Hearing on Why Their Shutdown Shut Things Down,” Tim Murphy, Mother Jones

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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165,000 New Jobs In April. Maybe.

May 5, 2013

165,000 New Jobs in April. Maybe.

The Bureau of Labor Statistics announced employment figures for April 2013: 165,000 new jobs. No one knows exactly what that means, but one thing is certain: This number will certainly change. Does that indicate government ineptitude or political manipulation? No.

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A Living Wage for All Working Americans

February 15, 2013

“Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty.” Barack Obama, State of the Union Address, February 12, 2013

“I’ve been dealing with the minimum wage issue for the last 28 years that I’ve been in elected office, and when you raise the price of employment, guess what happens? You get less of it.” House Speaker John Boehner (R, OH-8).

“Economists: A $9 minimum wage won’t hurt jobs,” Natasha Lennard, Salon

“A history of the minimum wage since 1938 [chart],” Annalyn Kurtz, CNN Money

“Obama proposes $9/hour minimum wage. OK, says business owner,” Elizabeth Fuller-Wright, Christian Science Monitor

“40% Of Americans Now Make Less Than 1968 Minimum Wage,”  Dave Johnson, Campaign for America’s Future

“Minimum Wage 101,” Mike Konczal, The American Prospect

“Minimum wage a bad idea? Ask execs who pay even more,” Charles Wilbanks and Alain Sherter, CBS News

“Minimum Wage Battle May Wound Republicans,” Steven T. Dennis, Roll Call

“Who would be affected by President Obama’s proposed minimum wage increase?” Natilie Sabadish and Doug Hall, Economic Policy Institute

“Why isn’t raising the minimum wage considered a no-brainer?” Robert Reich, Salon

“If You Notice That $9 Is More Than $7.25, Are You a Communist?” Kris Benson, Wonkette

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Healthcare Reform & Jobs

November 12, 2012

Healthcare Reform & Jobs

Will “ObamaCare” kill jobs? The new Affordable Care Act healthcare reform law is modeled after the Massachusetts healthcare law, “RomneyCare,” and the Urban Institute recently studied the situation there. So has RomneyCare killed jobs in Massachusetts?

No.

“Will the Affordable Care Act Be a Job Killer?” Lisa Dubay, John Holahan, Sharon K. Long, and Emily Lawton, Urban Institute Health Policy Center

But beware. ObamaCare will affect your job if your boss is a lunatic, right-wing, GOP ideologue:

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GOP ‘Cranks & Crazies’

September 21, 2012

GOP 'Cranks & Crazies'

The Republican Tea Party loons of the U.S. Congress have become world famous, and no wonder, since their capture of the GOP endangers the entire global economy. The most recent observation of this was by Australia’s deputy PM and finance minister, Wayne Swan:

“Let’s be blunt and acknowledge the biggest threat to the world’s biggest economy are the cranks and crazies that have taken over a part of the Republican Party. Global markets are nervously watching the positioning of hardline elements of the Republican Party for signs that they will dangerously block reasonable attempts at compromise.”

“Swan: GOP ‘Cranks and Crazies’ Threaten Growth,” Edward Johnson, Businessweek

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Ain’t Got No Home

August 24, 2012

Ain't Got No Home

The ProPublica team has researched the causes of the foreclosure crisis. You can read about it here, but there’s a video that explains it all, and you can dance to it:

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