Michael Hudson asks: “In light of the enormous productivity gains since the end of World War II – and especially since 1980 – why isn’t everyone rich and enjoying the leisure economy that was promised?” The answer (per Hudson) is painfully obvious, but bears repeating (ad infinitum): What was applauded
Continue readingTag: financial crisis
The Progressive Economics Forum: Quebec Tuition: Between a Rock and Hard Place?
In the context of student protests over Quebec tuition fees, my friend Luan Ngo has just written a very informative blog post on Quebec’s fiscal situation. While I encourage readers to read his full post, I do want to use the present space to make mention of three important points
Continue readingExcited Delirium: Austerity: The High Cost of Tax Cuts
Austerity is a most vile concept, particularly when you think of just how rich Canada is.
Continue readingThe Progressive Economics Forum: The Times they Are a Changing: The MMT Wave Begins
Take a look at the picture below. Take it in. Now scan your eyes to the far right…there, in faded blue you’ll see the initials MMT. Now zoom out. Take it in again. Notice: a few hundred people. Spending their time learning about an economic theory called Modern Monetary Theory
Continue readingExcited Delirium: London Should Have More 50% Off Days
50% off wages? How about 50% off everything? Yeehaw!
Continue readingExcited Delirium: If Davos Isn’t About Capitalism, What’s Stephen Harper All About?
Stephen Harper vs raging grannies. This is what Conservatives and capitalism are all about? Bullies and braggarts?
Continue readingThe Progressive Economics Forum: The Davos Speech
The Prime Minister’s speech at Davos was, I would bet, written by Stephen Harper himself. It bore the stamp of his long standing contempt for the European welfare state. He all but said that the Europeans had brought the crisis on themselves through trying to live beyond their fiscal means: As I
Continue readingExcited Delirium: Davos 2012: You’ve Been Warned
What outcome will the economic leaders agree on when they meet in Davos in 2012? Expect less.
Continue readingExcited Delirium: Timeline: How ‘Too Big to Fail’ Happened in the US
Too big to fail a result of bad regulatory policy? Absolutely. See why.
Continue readingExcited Delirium: A Brief History of Plutocracy
Plutocracy has always been around us. So what’s a reasonable substitute?
Continue readingExcited Delirium: Global Research ’2011 Year of the Dupe’: An Awesome Read
Read ‘2011 Year of the Dupe’ by Global Research. You’ll enjoy it and appreciate some truth for a change.
Continue readingThe Progressive Economics Forum: Other People’s Money
“Other People’s Money” by Justin Cartwright (Bloomsbury, 2011) is to the novel what the wonderful “Margin Call” is to film – a fictionalized but convincing account of high finance and the crisis of 2008. In this case, the central characters are the old money family owners of a private London
Continue readingThe Progressive Economics Forum: Were the Canadian Banks Bailed Out?
The conventional line has been, no. Our banks were strong. Unlike the US and Europe, no bailout was needed to deal with the global financial crisis of 2008. This line, of course, always conveniently neglected the Extraordinary Financing Framework, or dismissed it as trivial. Now Finance Minister Flaherty – seeking
Continue readingExcited Delirium: Where Did the Fed Get $7.7 Trillion?
The Fed in the US as explained by Dennis Kucinich.
Continue readingMolly'sBlog: Molly’sBlog 2011-11-30 21:38:00
INTERNATIONAL POLITICS: DEMOCRACY VERSUS THE BANKERS: The following item on the international finamcial crisis is from the Anarkismo website. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Europe & the BankersThe limits of democracy in Project Europe When the Arab peoples began to agitate at the start of the year, European countries quickly began to distance themselves from
Continue readingExcited Delirium: Economics, Media and Mass Manipulation
Change is inevitable when the cards are stacked against so many people.
Continue readingImpolitical: Every leader gets their day
Mr. Berlusconi is departing as leader of Italy and the citizenry reacts: From the New York Times’ coverage: “This is the most dramatic moment of our recent history,” Ferruccio de Bortoli, the editor of the Milan daily newspaper Corriere della Sera,…
Continue readingExcited Delirium: Another Gentle Coup …
Rumour has it that Greece leader Papandreou’s days may be numbered. Is it because he believes in democracy or because he doesn’t want to cave to lenders?
Continue readingExcited Delirium: US to Backstop $75 TRILLION in Derivatives Risk?
Just as #occupywallstreet picks up steam, it looks like the US Federal Reserve will backstop (ie. insure against risk or exposure) the massive $75 TRILLION of notional derivatives carried by the Bank of America.
What this means is that when Europe fina…
Excited Delirium: Follow the Money Behind Europe’s Debt Crisis
Fake fiscal emergencies are breeding the need for ‘austerity measures’ which must be resisted.
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