How to Slay Invisible Bond Vigilantes

By: Saturday November 24, 2012 9:00 am

Like little children scared about monsters under their beds, DC appears to be in thrall to fears of Invisible Bond Vigilantes. Krugman has been trying to slay these fears with logic and rational argument, but as any parent can tell you, fears like these are irrational and succumb to only one thing: mockery.

As the pressure for a Grand Bargain mounts and screaming about the Invisible Bond Vigilantes rises, let the mockery begin. It’s the only weapon that has a chance of success.

 

Filling the Crater Left by the Financial Crisis Bomb

By: Saturday November 3, 2012 9:00 am

The latest jobs report is out, painting a picture of an economy slowly climbing out of a major crater. As the Financial Crisis Inquiry Commission said right at the top of their final report, things did not have to be this way. This was an avoidable crisis, and it was exacerbated by risky and illegal business practices, regulatory failures, and systemic problems related to oversight and accountability.

While the top race on next Tuesday’s ballot will surely affect how things move forward next year, it’s the lower level races that have the potential for really moving things in a new direction in DC. There’s a big crater that still needs to be filled, and getting local officials in office who are willing to scream for accountability, for regulation, and for good government that addresses the needs of the people is probably the most direct way I can help.

Wall Street Stunned by Vanishing Investors

By: Wednesday May 9, 2012 4:35 pm

A New York Times article discusses the disappearance of retail investors and the steady decline in trading volumes since the Great Crash. They blame the usual uncertainty. But investors know the game is rigged by those sucking most of the rewards out of investing. The small investors don’t stand a chance, and they know it.

Check Stubs and Moral Seriousness

By: Saturday October 29, 2011 9:15 am

The late poet and Lutheran seminary professor Gerhard Frost once wrote “My check stubs are enough” to give you his autobiography. The former Chancellor of St. Paul’s Cathedral in London, Giles Fraser, wrote similar words in June 2010: the best way to assess what someone believes is to look through their bank statement. Forget fancy words and sermons, money is the way we mean it – or we don’t. Money is the sacrament of moral seriousness.”

Given the reactions of the MOTUs and Powers That Be to the Occupy Movement, I’d say they don’t enjoy having their morals examined.

The Next #OccupyWallStreet Might Not Be Tweeted

By: Sunday October 9, 2011 10:52 am

If you’ve been listening to the newscasters and pundits, they’re working that false meme of #OccupyWallStreet lacking focus and clear goals. You may be incredibly frustrated by this, and that’s probably what inspired you to read this post and many other contributions about #OccupyWallStreet by bloggers and citizen journalists.

It’s no wonder why #OccupyWallStreet is getting such bad press. A media that fawns at the feet of advertising Mammon will quickly sell out the truth.

What Jonathan Chait Doesn’t Understand About Obama

By: Monday September 5, 2011 8:40 am

I suppose we should be grateful that TNR’s Jonathan Chait voluteered to write an apologia for President Obama as a way to explain to those he identifies with “the left” why Obama’s not such a bad President and to remind the “left” there were extenuating circumstances that explain the President’s failure, or refusal, to achieve what the left wanted and the country needed.

Taxes Are Not Just for Little People

By: Wednesday August 17, 2011 11:01 am

When the leaders of France and Britain got together yesterday, they were facing realities that are not kind to the European community’s economic future. That they suggested what is bound to stir a lot of bad feelings among the banksters, a tax on financial transactions, shows vision that we desperately need. The U.S. would be in much better shape for the future if there were even the slimmest prospect that such a concept could be floated here.

In Tax-Cut Capitulation, House Democrats Again Redefine Pathetic

By: Friday December 17, 2010 5:20 pm

The House Democratic caucus is truly pathetic. They are, in fact, so pathetic that I’ve been forced to use a thesaurus to find new ways of describing their pathetic behavior: weak, impotent, pitiful, feeble and toothless. Last night, they again folded completely and passed the Senate’s version of the Obama-McConnell tax deal–as is–even though only a week earlier the House Democratic caucus voted to reject the deal.

Defrauding 101: Dirty Little Secrets

By: Saturday October 16, 2010 11:30 am

In the many accounts of the latest wrinkle in our huge mortgage crisis of the day, I have noticed that media always makes room for some one decrying those homeowners who stay in their homes because their mortgages are unenforceable. So color me bleeding heart liberal, but I do not see how anyone can look at those cases where due to fraud the homeowner and family have been contracted to buy a house that now the bank/mortgagor wants more than they do, and decide the case for the other party to the contract on the house. Now, without clear title to the house, that other party can’t even legitimately sell it.

The (Liz) Warren Commission and Financial Reform

By: Sunday October 3, 2010 5:00 pm

A lot of hope was placed on the back of Elizabeth Warren and the financial reform act passed by Congress at the behest of the Administration formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act. Concurrent with belittling the liberal Democratic activist base as ungrateful whiners, the Administration and Democratic leadership has touted Liz Warren and Dodd-Frank as prime examples of accomplishments that should thrill and satisfy the base. But are those “accomplishments” really all that and should they mollify Democrats, at least on financial reform issues? The initial returns indicate no.

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