End Poverty in California [EPIC] was the platform of Upton Sinclair's campaign for the Governorship of California in 1934. Sinclair had won the nomination of the Democratic Party although he had been a member of the Socialist Party … [Read more...]
The Third Depression – result of fear of deficits?
According to Paul Krugman's Op-Ed the world may well be moving into a Third Depression rather than out of the Great Recession. Here in Massachusetts, a prime mover in creating that Third Depression is our own Senator Scott Brown, by … [Read more...]
Credit card interest WAS deductible and what if the academic economists are dead wrong?
Prior to 1986, consumer debt, like credit card interest was tax deductible. Credit card rates of about 8% -10% were the norm. I was there; I actually remember those days. It was Ronald Reagan and the Tax Reform Act of 1986 … [Read more...]
Stop talking about “taxes” start talking about fundamental fairness – w poll
Stop framing the discussion as "raising taxes". Start talking about fundamental fairness and the American Dream being destroyed by greedy banksters and a rapacious elite. Go to What will kill the American Dream, in hard numbers It is not … [Read more...]
G20 Summit actually agrees on “Clawbacks” for excessive bonuses
BBC Report on the G20 Summit As some may recall, Merrill Lynch paid 3.6 BILLION in bonuses despite receiving more than 20 billion dollars of taxpayer bailout money. AIG and others were just as free in giving out a plethora of multi-million … [Read more...]
Is the second economic implosion at the back door?
Apparently the president thinks that the worst is yet to come. President Barack Obama said he believes the global financial system remains at risk of implosion with the failure of Citigroup or AIG, touching off "an even more destructive … [Read more...]
Hoover Revisited by Minority Leader Boehner
Republican efforts over the decades to discredit, diminish, and demean Roosevelt's efforts to get the US out of the economy are still alive despite the fact that the depression was 3 years old before Roosevelt took office. Thye seem intent … [Read more...]
The $100.00 per house neighborhood arrives – in Detroit
First, remember, Detroit tried to save itself with Casinos and slots. Did not work. last I heard, at least one of those casinos was in bankruptcy court. Next I heard, houses are going for $100-$2000.00. These are … [Read more...]
Meditations on “job losses in recent recessions”
Sadly, I have been saying that "this is a Depression, not a Recession" since January of 2008 because of what I saw on Main Street - and wishing that I was wrong. Sadly, too, the decisions being made in 2008, did not prevent or … [Read more...]
And the NEXT industry seeking a bailout and “stimulus package” is:
http://www.telegraph.co.uk/new... Is this for real, folks? … [Read more...]