An Economy Driven By Rich People? Imagine a world in which those who work — or try to work— are given mere scraps. Imagine an economy that is driven purely by speculation by the wealthy, the gains of which are then spent in high-end stores,…
Wrong again Thus, I am not too optimistic about the future of this market if the geopolitical conflict is not resolved fast and financial conditions do not start to improve, especially as far as putting an end to an accelerating wealth inequality Thanks, pert, for…
Today’s good news: Low-wage jobs drive the recovery, says new report U.S. Stocks Gain on Internet Rally Amid Earnings Reports The New Gilded Age: A bigger con job than the first one We’re becoming over-coddled and spoiled. We grew up expecting a comfortable retirement, a…
Everyone does it – speaking too soon, calling the top too early, predicting a bubble or crisis where none exists, etc. Josh Brown is the latest. Let’s see…on the very week he wrote this blog post, Air B&B secured a funding at a mind-blowing $10…
More evidence big business, not small business, is the driver of the U.S. economy : American Dream Peddlers Lax federal oversight allowed lenders to repeatedly make bad loans to small businesses under a government program that has cost taxpayers $1.3 billion since 2000 on defaulted…
From the WSJ: Job Hunting? Dig Up Those Old SAT Scores In the smartist era -an era of perpetually rising stocks, of a hyper-meritocracy, of hyper-globalization, of hyper-capitalism, of super-productivity and super-efficiency- never before have the economic premiums of being smart been so great, or…
The secular stagnation theory has gained a lot of attention in the past few years. From Wikipedia: Economists have asked whether the low economic growth rate in the developed world leading up to and following the subprime mortgage crisis of 2007-2008 was due to secular…
As we explain in the intro page, the contrarian blogging movement gained momentum following the financial crisis and the election of Obama in retaliation to the perceived incompetence and political correctness of the prevailing political and media hegemony. Contrarian blogging and journalism covers the entire…
Kevin Williamson from National Review Online writes: The cost of mass unemployment is not only the loss of income and dignity suffered by the jobless. The real cost includes the loss of theeconomic output of the unemployed. This sounds like something Paul Krugman would say….
From http://crooksandliars.com: Friedman: Fareed, I’m going to ask you something. Would you think I’m a bad guy if I were hoping that Vladimir Putin turned off the gas to Europe? Because that’s my secret hope, because I believe if Putin turns off the oil and…