We’ve Been Providing Wall Street’s Next Bailout Fund

By: Wednesday March 13, 2013 1:45 pm

Substantive changes, alas, usually emerge only through substantive shocks. Yet, if we can channel the proper momentum towards these upcoming changes, not all will be lost.

In this post, we will see that lower- and middle-income households have unknowingly bailed out the Wall Street banks again, in advance of the next storm.

 

FDL Book Salon Welcomes L. Randall Wray, Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems

By: Saturday January 5, 2013 1:59 pm

I am hosting the Firedoglake discussion of my colleague Randy Wray’s new “Primer” on macroeconomics. Macroeconomics is the study of the overall economy – economic growth, recessions, depressions, inflation, unemployment, and employment are big issues that macroeconomics studies. The key policies it addresses are usually divided into fiscal (tax and spending) and monetary policies (the growth of the money supply and setting interest rates).

The concept of monetary tools has broadened as we have seen the Federal Reserve change what had been a severely constrained “lender of last resort” function of the central bank into the most massive bailout program in history. Similarly, the central bank’s interest rate setting function that was long focused on short-term rates has expanded into large experiments that attempt to lower long-term interest rates (“quantitative easing”).

FDL Book Salon Welcomes Nomi Prins, Black Tuesday

By: Saturday November 12, 2011 1:59 pm

This book is a fast and easy read so you will absorb a ton of well-researched factual knowledge without losing your horse, crawling through the desert, or emptying your canteen. It’s a fun, easy way to learn and understand a whole lot of important information that banksters would prefer you never know and delivered in a way that exposes the hypocrisy of many of the proposed “cures” for our current economic woes. It really is a terrific learning tool and delivers information in a form that even Members of Congress should be able to understand.

Martin Feldstein’s Housing Solution Strikes Out Again, Big Time

By: Friday October 14, 2011 8:50 am

Harvard economics professor Martin Feldstein, who made himself famous by predicting in 1993 that Clinton tax increases would not raise any revenue, strikes out big time in his proposal for the housing market in Thursday’s NYT.

NYT’s Sorkin Examines Trees, Can’t See Forest on Geithner’s A.I.G. Backdoor Bank Bailout

By: Tuesday July 27, 2010 3:46 pm

I can’t quite determine what the Times’s business columnist Andrew Ross Sorkin is trying to tell us about the Bush/NY Fed 2008 backdoor bank bailout via A.I.G. But the evidence he cites seems to support the “backdoor” theory more than ever.

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