Economics
For many, a new job comes at a cost: lower wages
Wed, 09/01/2010 - 09:21 — Dave Culver- Even as a tentative economic recovery wheezes along, data show a disproportionate growth in low-paying jobs.
- U.S. Experiencing Worst Episode of Prolonged Unemployment Since Great Depression
- Jobless? Your leaders are at ease with that.
Michael Luo, New York Times | NY
Donna Ings took a lower-paying job as a home health aide after being out of work for over a year. Michele McDonald for the New York Times
After being out of work for more than a year, Donna Ings, 47, finally landed a job in February as a home health aide with a company in Lexington, Mass., earning about $10 an hour.
Chelsea Nelson, 21, started two weeks ago as a waitress at a truck stop in Mountainburg, Ark., making around $7 or $8 an hour, depending on tips, ending a lengthy job search that took her young family to California and back.
Related:
Summary: America's Financial Crisis: Week of August 29
Sat, 08/28/2010 - 09:06 — Dave Culver6 New Items including:
- Can we afford endless war?
- This Is Not a Recovery
David Culver, ed., Evergreene Digest
Lisa Benson
This Is Not a Recovery, Paul Krugman, New York Times | NY
- This isn’t a recovery, in any sense that matters. And policy makers should be doing everything they can to change that fact.
- GDP Revised Down: Economy Grew At A Much Slower Pace Than Previously Thought
- Tax Jujitsu: Why Democrats Should Propose a “People’s Tax Cut”
- Jobless? Your leaders are at ease with that.
Fiddling While the US Economy Burns, Danny Schechter, Consortium News
This Is Not a Recovery
Fri, 08/27/2010 - 16:17 — Dave Culver- This isn’t a recovery, in any sense that matters. And policy makers should be doing everything they can to change that fact.
- GDP Revised Down: Economy Grew At A Much Slower Pace Than Previously Thought.
- Tax Jujitsu: Why Democrats Should Propose a “People’s Tax Cut”.
- Jobless? Your leaders are at ease with that.
Paul Krugman, New York Times | NY
Submitted by Evergreene Digest Contributing Editor Thomas Sklarski
What will Ben Bernanke, the Fed chairman, say in his big speech Friday (August 27) in Jackson Hole, WY? Will he hint at new steps to boost the economy? Stay tuned.
But we can safely predict what he and other officials will say about where we are right now: that the economy is continuing to recover, albeit more slowly than they would like. Unfortunately, that’s not true: this isn’t a recovery, in any sense that matters. And policy makers should be doing everything they can to change that fact.
The small sliver of truth in claims of continuing recovery is the fact that G.D.P. is still rising: we’re not in a classic recession, in which everything goes down. But so what?
Fiddling While the US Economy Burns
Tue, 08/24/2010 - 10:31 — Dave Culver- "We know we live in hard times that are on the verge of getting harder with 500,000 new claims for unemployment last week, a recent record. The stock market may be over for now as fear and panic drives small investors out. Big corporations hoard stashes of cash rather then hire workers. The D-Word (depression) is back in play."
- The Forgotten Foreclosure Crisis
- The Horror Show
- America Goes Dark
Danny Schechter, Consortium News
Submitted by Evergreene Digest Contributing Editor Thomas Sklarski
The stock market may be over for now as fear and panic drives small investors out. Big corporations hoard stashes of cash rather then hire workers. The D-Word (depression) is back in play.
Foreclosures are up, and the Administration’s programs to stop them are down, well below their stated goals, only helping one-sixth of those promised assistance.
And here’s a statistic for you: 300,000. That’s the number of foreclosure filings every month for the past 17 months.
The Best Oligarchy Money can Buy
Fri, 08/20/2010 - 14:16 — Dave Culver- Revolving Door between Government and the Private Sector Reaches Appalling Highs
- “Three of every four gas and oil lobbyists [have] worked for the federal government.” --Washington Post
Anthony Dimaggio, ZComm, in Axis of Logic
The symbiotic connection between government and business is reaching alarming levels in light of recent evidence, indicating that government officials and business executives are increasingly one and the same. Consider the evidence that’s recently come to light.
A recent study by the Washington Post finds that “three of every four gas and oil lobbyists [have] worked for the federal government”.
Among those currently lobbying for energy companies who have worked in government include 18 former members of Congress and dozens of former presidential appointees. Two of these former officials were directors of the Minerals and Management Service, a disturbing revelation considering that the agency has received strong criticism for granting 198 leases for oil wells following the April 30th Deepwater explosion in the Gulf, with BP the winner of 13 of those bids. For those unfamiliar with the MMS, it gained infamy in late 2008 when it was reported by the New York Times that its employees were trading lucrative offshore drilling contracts for cocaine sex parties, funded by the oil industry (More on that story).