GDP Numbers Confirm Wisconsin’s Lagging Growth

By: Tuesday June 17, 2014 7:14 pm

Wisconsin’s economic growth has lagged behind that of most other states, according to the Bureau of Economic Analysis. The new report issued last week provides inflation-adjusted statistics on gross domestic product (GDP) in every state for each of the years from 2010 through 2013.

 

Zombie Economics From Zombie Banksters on Zombie Op-Ed Pages

By: Tuesday October 8, 2013 3:00 pm

Stephen King, Chief Economist of HSBC, lectures us from his high position in the Corrupt Bank Sector and the pages of the NYT: We won, get used to it.

Imagine…A Minimum Wage Your Daughter [Or Son] Could Live On

By: Thursday February 14, 2013 4:52 pm

The Australian minimum wage this year is $15.96 per hour. I know this mostly because my daughter lives in Melbourne these days (not forever, I hope). When she arrived there 18 months ago, she got a job at a minimum-wage restaurant. She earned enough to cover her rent and other expenses.

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 Donald Gross, The China Fallacy: How the U.S. Can Benefit From China’s Rise and Avoid Another Cold War

By: Saturday December 8, 2012 1:59 pm

In the not-so-distant past China was a country that struggled to feed its own people. An estimated 20 to 45 million Chinese died of starvation between 1958 and 1962. China’s population today is over 1.3 billion, more than four times the population of the United States. The challenges China faces in moving from a developing to a developed nation are unique and daunting, made even more difficult under the scrutiny of a globally connected modern world.

Pelosi Signals Her Willingness to Cut Medicare and Social Security Benefits

By: Thursday October 27, 2011 1:55 pm

Pelosi’s statement today, like the leak of the Super Committee Democrats’ proposal yesterday, is part of an extremely depressing pattern. It is the Democratic party slowly moving from defending entitlement programs to taking the official position that Medicare and Social Security should be cut.

Obama Approval Rating Hits Record Low

By: Wednesday September 21, 2011 7:45 am

The poor state of the economy remains the great anchor dragging down Obama’s numbers. The poll found that 75 percent of Americans believe the country is currently in a recession and only a third of the voters approve of Obama’s handling of the economy, 61 percent disapprove.

FDL Book Salon Welcomes Ha-Joon Chang, 23 Things They Don’t Tell You about Capitalism

By: Sunday April 24, 2011 1:59 pm

What makes Ha-Joon Chang’s new book, 23 Things They Don’t Tell You About Capitalism, such a joy to read, is not the challenge it poses to the bad economics that undergirds global finance, though it does precisely that. Just as Thomas did nearly 40 years ago, Chang’s book succeeds, fundamentally, because it challenges the dead language that is used to market as progress our growing political discontent.

Progressive Budget Plan Deals with Deficit Reduction Through Growth

By: Monday November 29, 2010 12:30 pm

The Century Foundation, Demos and the Economic Policy Institute have released a liberal counterpoint budget plan, as a response to the plan put forward by Erskine Bowles and Alan “The Greediest Generation” Simpson on deficit reduction. The counterpoint is fundamentally different in that it demands increased employment levels before spending reductions kick in.

Checking My Crystal Ball on the FY 2009 Federal Small Business Contract Numbers, Part 2

By: Monday August 30, 2010 1:40 pm

The Small Business Administration released its Procurement Scorecard late Friday afternoon, showing that once again, the government did not achieve its mandated 23 percent small business procurement goal. Several weeks ago, I made several predictions about this, lets see how accurate I was.

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