April 8, 2008 I said the financial system would need at least 100 times the $30 billion advertised by the Fed as the ultimate need to save the syst...
We've passed the audition and are now holding starring roles in Animal Farm Takes Greece -- a remake of George Orwell's foretelling allegorical tale penned 67 years ago!
It turns out, unfortunately, that the financial and fiscal problems associated with longevity may be a lot bigger than we thought. The good news is that if we act now, we can find solutions that limit hardship and disruption.
As the BRICS push for greater collective influence in the global arena, likewise the West should continue to push for greater democracy within the BRICS countries that are not yet democratic.
Europe's in crisis. Unemployment is at a fifteen-year high, thanks to the austerity measures imposed on it by conservative leaders. But if you think things are bad over there, imagine what they'll be like if Republican budget measures are imposed here.
Political reality has this tricksy way of escaping from Hollywood's clutches.
That Goldman is a vampire squid has long been recognized. The conflicted and non-transparent nature of the aquarium is, as yet, far too little understood.
It's a day to think about the past and remember the incredible women who came before us -- our mothers, grandmothers and great grandmothers. And it's a day to think about the future, and how we want the world to look for mothers and mothers-to-be all over the world.
Witness the resistance to facts on the part of banking institutions and certain members of the congressional leadership, despite regulations demanding that they allow facts and figures to be reported, information that could keep us from the edge of yet another economic meltdown.
Since the September 2008 financial crisis, we've seen a pattern of misdeeds, dodgy financial reporting, congressional "investigations" that are all for show, slow and incompetent investigations, and ultimately a slap on the wrist for wrong-doers.
Greece must embrace a holistic approach to reforms that would be guided by an overall reduction of transaction costs, concentrating in simplifying processes. Simplification would be the best start.
How do we increase federal revenue in ways that don't hurt the fragile economy? How do we control federal spending without stomping on the sprouts of economic growth?
Greece has walked a lot further down the path of perdition, but we're walking the same path and it's already too late to return.
Is there a credible progressive alternative to austerity? If so, is it attractive enough to mobilize a winning electoral constituency?
There is little doubt that the global financial crisis posed "unusual and exigent" circumstances that had to be met with a huge response by the Fed (and Treasury). It is not clear, however, that the response actually mounted was legal. It was certainly not transparent.
Once upon a time in America, Greek was routinely included in the curriculum of a liberal arts education. Today, we don't necessarily need to speak the language, but we do need to better understand what's happening.