"Words that make actions speak louder."
This is about jobs and the world’s economy. China’s currency manipulation gives goods made in China a huge price advantage — some estimate as much as 40%! — over goods made in other countries. It is a part (only a part) of the reason so many of our companies move manufacturing and jobs there. This […]
Last week, Congress decided it would not confront Too Big To Fail, the single gravest threat to our collective financial security. But there are still several key Wall Street reforms worth fighting for—reforms that must be enacted before the next crisis hits. And fortunately, key Senators have introduced amendments dealing with each one. Blanche Lincoln’s […]
There are basically two dimensions to the financial crisis. One is the way finance has evolved into a gambling operation that’s fundamentally risky and fails to contribute to the real economy. The other is plain, old-fashioned greed – the kind that exploits the weak and vulnerable in a shameful manner, the kind that depends on […]
Have you noticed that there is a very odd logic around the DC Beltway deficit-cutting frenzy? Here is the basic argument: A) Things worked great back when taxes on the rich were high. We built up the infrastructure that made us prosperous, and we built up a middle class. We didn’t have budget deficits. There […]
Although best known as a retirement program, Social Security can provide substantial income to children and their families. Children receive Social Security benefits either directly or indirectly when a working parent dies, becomes disabled, or reaches retirement age. • Over 6.5 million children under age 18, or nearly 9 percent of all U.S. children, benefit […]
Anne Kim and Jonathan Cowan of Third Way took to the Politico Arena op ed page (and url) on Thursday with the hoary slander that progressives care only about “expanding the entitlement state” and have no interest in economic growth or expanding wealth. Apparently blind to the worst economic downturn since the Great Depression, they […]
Is China’s industrial policy a “bigger” concern than their currency manipulation? That depends on what you think the meaning of “is” is. But China’s currency manipulation and trade barriers are against trade rules, while having an industrial policy is just smart. A national industrial policy helps a country’s businesses to be more competitive in the […]
The country needs meaningful financial reform a lot more than it needs more political analysis. Yesterday, however, the two became even more intertwined than usual. By compromising on good policy on Thursday, it looks like Democrats have outsmarted themselves politically too. Now the only fix left for them is to push for the best possible […]
The April unemployment figures are out, and America added 290,000 new jobs. It’s good news, but still unemployment edged up to 9.9 percent. The problem has many layers. First, the American population continues to grow. It takes 127,000 new jobs every month just to keep up with the population. Second, the economy is starting to […]
Late last night, the U.S. Senate rejected the single most important element of Wall Street reform by a vote of 33 to 61. The SAFE Banking Act would have forced the break-up of the nation’s six largestbanks, and dramatically reduced the political clout of America’s financial elite. The 61 votes against the measure are votes […]