Book review. Media Amnesia: Rewriting the Economic Crisis by Laura Basu
by Ian Sinclair
Peace News
December 2018-January 2019
This is an essential read for anybody – activists very much included – who wishes to gain a deeper understanding of the 2007–2008 economic crash and its subsequent political after-shocks, from the election of Donald Trump in the US to Brexit and rise of Jeremy Corbyn in the UK.
NEW YORK — On the afternoon of December 31, 1999, I boarded a flight from Chicago O’Hare airport for San Francisco International and found myself seated next to a bear of a man, who, at 6 feet 6 inches tall, and more than 300 pounds, squeezed into the middle seat of an emergency row. His unkempt sandy blonde beard contrasted with a ratty, tent-sized red plaid shirt. As we hit cruising altitude, he introduced himself as “Gary” and began to tell me his life’s story.
As you are about to see, if honest numbers were being used all of our major economic numbers would be absolutely terrible. Of course we can hope for a major economic turnaround for America under Donald Trump, but we certainly are not there yet.
The post The Real Economic Numbers: 21.5 Percent Unemployment, 10 Percent Inflation And Negative Economic Growth appeared first on BSNEWS.
The US economy and its financial structures have never recovered from the great financial meltdown of 2008 despite the passage of ten years. Little discussion has been given to the fact that the Republican Congress last year abandoned the process of mandatory budget cuts or automatic sequestration that had been voted in a feeble attempt to rein in the dramatic rise in US government debt.
The post America is In a Debt Trap Death Spiral appeared first on BSNEWS.
The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?
The post Fox in the Hen House: Why Interest Rates Are Rising appeared first on BSNEWS.
The Blighty ship of state has in the last couple of weeks looked even more like a listing vessel heading slowly towards the nearest port with a broken rudder after striking a rocky shoal.
The post HMS Blighty Shipping Water, Badly appeared first on BSNEWS.
Book review. The Econocracy: On the Perils of Leaving Economics to the Experts by Joe Earle, Cahal Moran and Zach Ward-Perkins
by Ian Sinclair
Morning Star
12 February 2018
Endorsed by Noam Chomsky and the economists Ha-Joon Chang and Martin Wolf, the publication of The Econocracy is effectively a hand grenade thrown into the middle of mainstream economic thought.
There’s been lots of fire and fury around Washington lately, including a brief government shutdown. In Donald Trump’s White House, you can hardly keep up with the ongoing brouhahas from North Korea to Robert Mueller’s Russian investigation, while it already feels like ages since the celebratory mood over the vast corporate tax cuts Congress passed last year. But don’t be fooled: none of that is as important as what’s missing from the picture. Like a disease, in the nation’s capital it’s often what you can’t see that will, in the end, hurt you most.
Sean is a YouTuber who focuses on economics, finance, and politics.
A video version of this show is available here.
America has the greatest inequalities, highest mortality rate, most regressive taxes, and largest public subsidies for bankers and billionaires of any developed capitalist country.
In this essay we will discuss the socio-economic roots of inequalities and the relation between the concentration of wealth and the downward mobility of the working and salaried classes.
The post How Billionaires Become Billionaires appeared first on BSNEWS.
