austerity

Is a mother who has just given birth and is sitting in her hospital bed, by definition, work-shy? Is a father who raises three young kids full time while his partner works by definition work-shy? If you answered no to those questions, congratulations! You have managed to understand employment statistics in a more nuanced way than Dr Adam Perkins, the new […]
The post The Hateful Trait: Demonisation Of Poor Reaches New Low appeared first on BSNEWS.

Runaway global warming is far and away humankind’s biggest nightmare, and the Arctic is the likely perpetrator. If it happens, it’ll blister agricultural foodstuff before it can reach the outstretched arms of the multitudes. Then what?
Dr. Peter Gleick of the Pacific Institute of California recently warned, “What is happening in the Arctic now is unprecedented and possibly catastrophic. The evidence is very clear that rapid and unprecedented changes are happening in the Arctic.”1

The American “New Economy” is the American Third World economy in which the only jobs created are low productivity, low paid nontradable domestic service jobs incapable of producing export earnings with which to pay for the goods and services produced offshore for US consumption.
The post The Us Economy Has Not Recovered and Will Not Recover appeared first on BSNEWS.

In 2008 the Federal Reserve had a choice: It could save the economy, or it could save the banks. It might have used a fraction of what became the vast QE credit – for example $1 trillion – to pay off the bad mortgages and write them down. That would have helped save the economy from debt deflation. Instead, the Fed simply wanted to re-inflate the bubble, to save banks from having to suffer losses on their junk mortgages and other bad loans.

The fight that the government has picked with junior doctors is just part of the present attack on the NHS and its staff. Cameron and Hunt are using the vague promise of ‘a truly 7 day NHS’ to impose a contract on junior doctors, in the hope and expectation that if they win they will roll out these changes to other NHS staff. They think the public’s interest and support will wane but we must not let this happen.
The post Junior doctors are revolting appeared first on BSNEWS.

Just an hour before my wife and I landed in her native Puerto Rico last month, the island’s government had defaulted on $1 billion in bond interest payments. It was the second default in five months for the cash-strapped government whose debt now totals $72 billion. None of this was evident as we waded through the crowds in Rafael Hernández airport in Aguadilla, which had been converted into a civilian airport after the closure of Ramey Air Force Base 40 years earlier.

You Can’t Earn a Living on the Minimum Wage When presidential candidate Bernie Sanders talks about income inequality, and when other candidates speak about the minimum wage and food stamps, what are they really talking about? Whether they know it or not, it’s something like this. My Working Life Then A few years ago, I wrote about my experience enmeshed in the […]
The post Nickel and Dimed in 2016 appeared first on BSNEWS.

Even as some insist that the global economy is in “secular stagnation,” the facts suggest that we may be entering the “worst” depression in history. The global markets have been on a slippery slope since the summer of 2007, and things have only been getting worse in 2016. The picture looks dismal, no matter which theoretical lens one uses. (This […]
The post Has the Crash of the Global Financial Markets Begun? appeared first on BSNEWS.

What if you really want to quit your job and go independent, but you’re worried about paying your bills? Today I’m able to enjoy the best of both worlds. My bills are easily paid from my passive income streams, and I get to do work I love and enjoy tremendous freedom. But when I was first starting out, it was […]
The post Don’t Pay Your Bills appeared first on BSNEWS.

Bubbles arise when asset prices inflate above what underlying incomes can sustain. Centuries ago, the Dutch woke up one morning and discovered that tulips were simply just flowers after all. But today, the public has yet to wake up to the mathematical reality that over $200 trillion in debt and perhaps another $500 trillion of un(der)funded liabilities really cannot ever be paid back under current terms. However, this fact is dawning within the minds of more and more critical thinkers with each passing day.