The Damage Wrought by the Great Big Horrendous Financialization Ka-blooie is Real. But this was (and is) Part of a Great Change. My friends, there’s no doubt we live in interesting times. This isn’t just a recession when budget sheets show big gaps, then the economy dips into a deep lull and then comes back … Continue reading “We’re Not Just Coping with “The Great Recession.” This Is “The Great Change.””
I’ve had an email and a few message board posts asking me “what the…” is going on with the economy. I’m not an economist (I was an English major) but I’m incredibly curious, and I read a lot. Here’s my take: A big part of this whole Wall Street collapse are something called “adjustable-rate mortgages” … Continue reading “What Went Wrong In The Economy”
From everything I see in the media, it looks grim, like we’re deep into a Great Recession. There are bread lines of sorts forming at food banks, and charities send 18-wheelers to small towns whose sole employers have closed shop. At the same time, states like Georgia have all but ended assistance to the poor … Continue reading “Observing The Economic Crisis First Hand”
AP: Economists see financial bailout as necessary O RLY?? It’s hardly the soup kitchen for people at the very top. The chairman of Lehman Brothers, Richard Fuld, still has his mansion in Greenwich, CT, his oceanfront estate on Jupiter Island in FL, and his Park Avenue co-op in Manhattan. Many at Lehman blame Fuld for … Continue reading “Providing A Soft, Pillowy Landing For Stupid CEOs?”
“What has been will be again, what has been done will be done again; there is nothing new under the sun” — Ecclesiastes 1:9-14I’ve been thinking about this a lot lately. Are the events shaping the U.S. just a part of an inexorable repeating cycle of history? In the 1920s the wealth inequality grew to … Continue reading “Inexorable Cycle of History?”
Amos Shoves G-d’s Social Justice Message In Your Face Nick’s Commentary on the Book of Amos All my life, I’ve had this yearning to repair the world and set right the injustices it is replete with. This drive has burned within me and spurred me to act and become an activist. As I study scripture, … Continue reading “Amos Shoves G-d’s Social Justice Message In Your Face”
Growing Backlash Against Inequality Jim Webb Tackles The Problem of Inequality In my last post, I talked about how Alabama shows that the lowest taxes don’t translate into the most wealth; we are one of the poorest states and at the bottom of nearly every category, nearly third-world. The huge, largely untaxed wealth at the … Continue reading “Growing Backlash Against Inequality”