The International Monetary Fund doesn't want to say it outright, but its latest World Economic Outlook shows more stagnation of the European and Japanese economies, and the possibility of a third EU recession since 2008.
Our system of governance - which has steered this nation into greatness over our two-plus centuries - is in shambles. The destructive force America needed Obama to subdue has grown stronger. The future of American democracy is in serious doubt. Can we call such a legacy the mark of a "successful" presidency?
Paul Krugman's "Voodoo Economics, The Next Generation" does not make any more sense today than it did back in 1980 when presidential candidate G. W. Bush used this term to criticize Ronald Reagan's claim that cutting taxes on the rich would actually -- "magically" lead to greater economic growth.
America has come to the breaking point. Our ability to think our way to a solution is temporarily impaired thanks to the utterly devastating annihilation of reasonable economic ideas by the neo-liberal revolution. So before we rebuild the economy, we've got a job ahead of us to rebuild some ideas.
In the great economic battle between pro-government and anti-government policies, California vs. Kansas has been the featured contest, and California has won.
Industrial polluters are using the same scare tactic they trot out every time the government proposes stricter emission controls: exaggerate the cost, overstate job losses, and completely ignore the benefits.
The partisan divide on climate change didn't arise in a vacuum. Despite the substantial differences in political ideology between affiliates of the two major parties that existed during the Clinton years, there was relatively little difference in their level of acceptance of the science of climate change.
Today, the Earth got a little hotter, and a little more crowded. Daily Climate Change: Global Map of Unusual Temperatures, June 5 2014 How unusual...
The Obama administration did too little, too late, to help troubled homeowners, who faced plummeting home prices and the risk of foreclosure. The most important thing they can do is get Fannie Mae and Freddie Mac to adopt principal reduction.
It took centuries to get people to understand the earth orbits the sun. If it takes as long to get the public to understand and our politicians to understand the economy, billions of people will suffer needlessly.
A zombie idea persists when it's "one of those things that everyone important thinks is true because everyone they know says it's true." A prime example is the oft-repeated citation of the Head Start Impact Study as proof positive that Head Start does not work.
With three best-sellers saying markets are rigged --Piketty, Warren, Lewis -- Shrum & Lowry debate economic and then racial inequality. Can tax policies mitigate a 400-1 ratio of top to average pay? 4000-1? Does bias against blacks = against whites, per Roberts?
Just as one party has been pulled to the right, Piketty could help pull the other further left, fostering a dilemma that looks hard to avoid for moderate progressives.
And at state and local levels, while the poorest fifth of Americans pay an average tax rate of over 11 percent, the richest one percent of the country pay -- are you ready for this? -- half that rate.
So it turns out the bully mentality is part of human nature, really, and so part of our culture. It is then up to those employees who want to better themselves to find a way to oppose that culture and mentality.
A new book that's the talk of academia and the media shows that two-thirds of America's increase in income inequality over the past four decades is the result of steep raises given to the country's highest earners.