Occupy Wall Street Public date: 10.08.2017 19:47:16

Publisher: Democracy Now

Author:

2 Jan 2015

Matt Taibbi and “The $9 Billion Witness” Who Exposed How JPMorgan Chase Helped Wreck the Economy

Exclusive interview with Alayne Fleischmann, the whistleblower who helped the Justice Department force JPMorgan Chase to pay one of the largest fines in U.S. history for its role in the financial crisis. Matt Taibbi, also mentions that this is an indictment of the Obama Administration who had according to this case enough evidence to prosecute Wall Street and didn't.
Exclusive interview with Alayne Fleischmann, the whistleblower who helped the Justice Department force JPMorgan Chase to...

Publisher: truthdig

Author:

27 Dec 2014

Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and depositors and taxpayers could be liable, following repeal of key portions of the Dodd-Frank Act signed into law on December 16th.
The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result...

Publisher: truthdig

Author:

19 Dec 2014

How Inside Traders Are Rigging America and Contributing to the Savage Inequalities of American Life

If a CEO tells his golf buddy that his company is being taken over, and his buddy makes a killing on that information, no problem. If his buddy leaks the information to a hedge-fund manager like Chiasson, and doesn't tell Chiasson where it comes from, Chiasson can also use the information to make a bundle. Major players on Wall Street have been making tons of money not because they re particularly clever but because they happen to be in the realm where a lot of coins come their way. Last year, the top twenty-five hedge fund managers took home, on average, almost one billion dollars each. Even run-of-the-mill portfolio managers at large hedge funds averaged $2.2 million each.
If a CEO tells his golf buddy that his company is being taken over, and his buddy makes a killing on that information,...

Publisher: occupy

Author:

12 Dec 2014

The incredible shrinking income of young americans

Since the Great Recession struck in 2007, the median wage for people between the ages of 25 and 34, adjusted for inflation, has fallen in every major industry except for health care. In retail, wholesale, leisure, and hospitality-which together employ more than one quarter of this age group-real wages have fallen more than 10 percent since 2007. To be clear, this doesn't mean that most of this cohort are seeing their pay slashed, year after year. Instead it suggests that wage growth is failing to keep up with inflation, and that, as twentysomethings pass into their thirties, they are earning less than their older peers did before the recession.
Since the Great Recession struck in 2007, the median wage for people between the ages of 25 and 34, adjusted for...

Publisher: mushyzone

Author:

13 Oct 2014

World leaders play war games as the next financial crisis looms

On Monday in Washington, the chancellor of the exchequer will see if Britain is ready for war. A financial war that is. Along with his allies from the United States, he will play out a war game designed to show whether lessons have been learned from the last show, the slump of 2008.  Let's hope so. Because the evidence from last week's meeting of the International Monetary Fund in Washington was that it won't be long before the real shooting starts.
On Monday in Washington, the chancellor of the exchequer will see if Britain is ready for war. A financial war that is....

Publisher: NYTimes

Author:

9 Oct 2014

China’s Plan for Regional Development Bank Runs Into U.S. Opposition

This will certainly disrupt the current world order: For almost a year, China has been pitching an idea to its neighbors in Asia: a big, internationally funded bank that would offer quick financing for badly needed transportation, telecommunications and energy projects in underdeveloped countries across the region.
This will certainly disrupt the current world order: For almost a year, China has been pitching an idea to its neighbors...
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Publisher: The Guardian

Author:

26 May 2014

Thomas Piketty accuses Financial Times of dishonest criticism

Thomas Piketty has accused the Financial Times of ridiculous and dishonest criticism of his economics book on inequality, which has become a publishing sensation. The newspaper concluded there was little evidence in Piketty's original sources to verify his theory that the richest were accumulating more wealth, widening the gap between the haves and the have-nots in Europe and the United States. In an interview with the Agence France-Presse news agency, the economist said: "The FT is being ridiculous because all of its contemporaries recognise that the biggest fortunes have grown faster."
Thomas Piketty has accused the Financial Times of ridiculous and dishonest criticism of his economics book on...

Publisher: Political Blind Spot

Author:

7 Nov 2013

In the U.S. 49.7 Million Are Now Poor, and 80% of the Total Population Is Near Poverty

If you live in the United States, there is a good chance that you are now living in poverty or near poverty. Nearly 50 million Americans, (49.7 Million), are living below the poverty line, with 80% of the entire U.S. population living near poverty or below it. "The primary reason that poverty remains so high," Sheldon Danziger, a University of Michigan economist said, "is that the benefits of a growing economy are no longer being shared by all workers as they were in the quarter-century following the end of World War II."
If you live in the United States, there is a good chance that you are now living in poverty or near poverty. Nearly 50...

Publisher: money news

Author:

17 Jul 2013

Billionaires Dumping Stocks, Economist Knows Why

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of "disappointing performance" in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.
Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their...
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Publisher: spiegel

Author:

2 Oct 2012

Inequality in the US Interview with Economist Joseph Stiglitz

The finance industry is to blame for the growing divide between the rich and poor in the United States, says Nobel Prize-winning economics professor Joseph Stiglitz. In an interview with SPIEGEL, he accuses the industry of preying on the poor and buying government policies that help them get richer.
The finance industry is to blame for the growing divide between the rich and poor in the United States, says Nobel...

Publisher: NYTimes

Author:

17 Apr 2012

For Economists Saez and Piketty, the Buffett Rule Is Just a Start

Emmanuel Saez and Thomas Piketty have spent the last decade tracking the incomes of the poor, the middle class and the rich in countries across the world. More than anything else, their work shows that the top earners in the United States have taken a bigger and bigger share of overall income over the last three decades, with inequality nearly as acute as it was before the Great Depression.
Emmanuel Saez and Thomas Piketty have spent the last decade tracking the incomes of the poor, the middle class and the...

Publisher: NYTimes

Author:

28 Mar 2012

The Case for Raising Top Tax Rates

A new understanding of the economics of taxation - For 30 years, any proposal to raise taxes had to overcome an unshakable belief that higher taxes inevitably led to less growth. The belief survived the Clinton administration, when taxes rose and the economy surged. It survived George W. Bush s administration, when taxes were cut yet growth sagged. But now, a growing body of research suggests not only that the government could raise much more revenue by sharply raising the top tax rates paid by the richest Americans, but it could do so without slowing economic growth. Top tax rates could go as high as 80 percent or more.
A new understanding of the economics of taxation - For 30 years, any proposal to raise taxes had to overcome...

Publisher: business insider

Author:

21 Mar 2012

Dallas Fed Calls For Breakup Of Big Banks

It's hard not to think it's a big deal when a branch of the Federal Reserve system calls for the breakup of major American banks. The bank has just released its annual report, and the title of the letter is: Choosing the Road to Prosperity Why We Must End Too Big to Fail - Now.
It's hard not to think it's a big deal when a branch of the Federal Reserve system calls for the breakup of major...

Publisher: Huffington Post

Author:

6 Mar 2012

Richest 1 Percent Account For Nearly All Of U.S. Recovery’s Gains

Technically, the economy has been in recovery for two years. But it turns out the rich have been doing most of the recovering. In 2010 -- the first full year since the end of the Great Recession -- virtually all of the income growth in America took place among the country's very wealthiest people, says an economist at the University of California, Berkeley. The top 1 percent of earners took in a full 93 percent of all the income gains that year, leaving the other 7 percent of gains to be sprinkled among the vast majority of society.
Technically, the economy has been in recovery for two years. But it turns out the rich have been doing most of the...

Publisher: Salon

Author:

2 Mar 2012

The hypocrisy of Wall Street capitalism

The phrase "Wall Street" is evocative in American culture. For generations, it has referred to the showcase of American capitalism: our financial services system that ensured the efficient use of funds by channeling capital to its most productive use. Indeed, the governing ethos in America is that Wall Street is the heart and soul of our capitalist economy.
The phrase "Wall Street" is evocative in American culture. For generations, it has referred to the showcase of American...

Publisher: The Guardian

Author:

25 Feb 2012

Why the super-rich love the UK

According to the Socialist Worker, if you earn 150,000 a year, you are rich. But in the rarefied world of serious money, you are not super-rich until you have at least 100m. - and UK tax policy caters to the Super Rich -- UK has a gigantic sign hanging over it saying, "Rich People! Come and Live Here! You Won't Have to Pay Any Tax!" It is an extraordinary policy for any developed nation, and not one that anyone else has been tempted to adopt.
According to the Socialist Worker, if you earn 150,000 a year, you are rich. But in the rarefied world of serious money,...
24 Feb 2012

The Big Deficit Lie: Every GOP Debt Plan Leaves Us With More Debt

The four remaining GOP candidates have a simple and straightforward plan for the direction of our federal debt. Up. Way up. That's the conclusion from a new report comparing the tax-and-spending plans from Newt Gingrich, Mitt Romney, Ron Paul, and Rick Santorum, from the Committee for a Responsible Federal Budget.
The four remaining GOP candidates have a simple and straightforward plan for the direction of our federal debt. Up. Way...

Publisher: Salon

Author:

3 Feb 2012

Why Wall Street hates a healthy labor market

It s always such a shame when the interests of labor don t match up with the priorities of capital. The Bureau of Labor Statistics reported on Thursday that new claims for jobless benefits fell again last week. But in a Wall Street Journal roundup of reactions to the news, one economist found reason for concern.
It s always such a shame when the interests of labor don t match up with the priorities of capital. The Bureau of Labor...
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Publisher: Daily Kos

Author:

1 Feb 2012

More than 40% of households are less than three months from poverty

While the official poverty rate in 2010 was 15.1 percent, there's a lot of controversy over how poverty should be measured, and still more over how we should view proximity to poverty, the people who aren't poor but are dangerously close to it. Here's another way of looking at that. The Corporation for Enterprise Development has released its annual assets and opportunity scorecard, scoring the states on how well they promote household financial security through jobs, education, health care, housing and financial assets. Do states support very small businesses?
While the official poverty rate in 2010 was 15.1 percent, there's a lot of controversy over how poverty should be...
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Publisher: Hubpages

Author:

18 Jan 2012

Proof the Stock Market is Manipulated by Investor Class

Sometimes things are right under your nose. They are obvious, but diabolical. Even manipulation of the stock market may be involved. You have to ask yourself why the banks were bailed out. After all, it doesn't appear that they were bailed out to lend to mainstreet. I do think that there was a twofold reason why the banks were bailed out.
Sometimes things are right under your nose. They are obvious, but diabolical. Even manipulation of the stock market may...

Publisher: consortium news

Author:

18 Jan 2012

Why the Rich Keep Getting Richer

Mitt Romney, who wants talk of income inequality confined to "quiet rooms," admits he's spent the last decade living mostly on investments and paying less than half the taxes that would apply to a salary, just one more example of why the rich keep getting richer, as Bill Moyers and Michael Winship observe
Mitt Romney, who wants talk of income inequality confined to "quiet rooms," admits he's spent the last decade living...
14 Jan 2012

FINANCIAL TYRANNY: Defeating the Greatest Cover-Up of All Time

2012 has begun as a year of rampant paranoia and hopelessness on the Internet and throughout mainstream media. The economy appears to be in a dire predicament -- ready to go over a cliff into an abyss few can even allow themselves to consider.   You are about to read a comprehensive investigation summarizing all the best information I have gathered about the true nature of this crisis since I became directly aware of it in 1992.  Very few people are aware that a massive 122-nation coalition has formed to solve the problem -- just in the nick of time and they are backing a legal, public solution to end Financial Tyranny.
2012 has begun as a year of rampant paranoia and hopelessness on the Internet and throughout mainstream media. The...

Publisher: resilience

Author:

11 Jan 2012

Occupy sustainability: the 1% are blocking the transition to a renewable energy economy

To make our society sustainable, we have to deal not just with environmental issues and climate change, but with the economic crisis, and resource depletion. The most effective responses will deal with all three aspects at once. While climate change response has mostly been blocked, Occupy has gotten traction, channeling public outrage at the bailouts, the debt crisis, and rising unemployment.
To make our society sustainable, we have to deal not just with environmental issues and climate change, but with the...

Publisher: latimes

Author:

6 Jan 2012

Romney’s tax plan would slash revenue, reward the wealthy

Assuming the Bush tax cuts did expire, Romney's plan would deliver an average tax cut of almost $300,000 to households making more than $1 million, according to Gleckman. Taxpayers who make more than $1 million currently pay about 20% of all federal taxes, Gleckman said. Under Romney s plan, they d get more than 28% of the cuts. Those making $50,000 to $75,000 would have their taxes cut about $1,800..
Assuming the Bush tax cuts did expire, Romney's plan would deliver an average tax cut of almost $300,000 to households...

Publisher: Think Progress

Author:

5 Jan 2012

GOP’s Capital Gains Tax Cut Is The Biggest Driver Of Income Inequality

The lowering of the capital gains tax, pushed through as part of the Bush tax cut package of 2003, was the biggest driver of income inequality from 1996 to 2006, according to a recent report from the Congressional Research Service. While the Bush tax cuts as a whole contributed to rising inequality, it was the change in policy toward capital gains - which were once taxed at normal income rates but are now taxed at 15 percent for the rich - that played the largest role in exploding the income gap.
The lowering of the capital gains tax, pushed through as part of the Bush tax cut package of 2003, was the biggest...

Publisher: NYTimes

Author:

5 Jan 2012

Harder for Americans to Rise From Lower Rungs

Americans enjoy less economic mobility than their peers in Canada and much of Western Europe. The mobility gap has been widely discussed in academic circles, but a sour season of mass unemployment and street protests has moved the discussion toward center stage.
Americans enjoy less economic mobility than their peers in Canada and much of Western Europe. The mobility gap has been...

Publisher: The Washington Post

Author:

27 Dec 2011

Growing wealth widens distance between lawmakers and constituents

When Myers entered Congress, in 1975, it wasn't nearly so unusual for a person with few assets besides a home to win and serve in Congress. Though lawmakers on Capitol Hill have long been more prosperous than other Americans, others of that time included a barber, a pipe fitter and a house painter. A handful had even organized into what was called the "Blue Collar Caucus." But the financial gap between Americans and their representatives in Congress has widened considerably since then, according to an analysis of financial disclosures by The Washington Post.
When Myers entered Congress, in 1975, it wasn't nearly so unusual for a person with few assets besides a home to win and...

Publisher: cnbc

Author:

22 Dec 2011

Investors Lose Faith in Stocks As Billions Pour Out of Funds

Investors appeared to have lost faith in stocks this year. Just over a week ago, equity mutual funds globally had the second-biggest one-day outflow of money in 2011, capping four straight weeks of net redemptions, according to data from EPFR Global.
Investors appeared to have lost faith in stocks this year. Just over a week ago, equity mutual funds globally had the...

Publisher: commondreams.org

Author:

21 Dec 2011

The Corporations That Occupy Congress

Some of the biggest companies in the United States have been firing workers and in some cases lobbying for rules that depress wages at the very time that jobs are needed, pay is low, and the federal budget suffers from a lack of revenue.
Some of the biggest companies in the United States have been firing workers and in some cases lobbying for rules that...
17 Dec 2011

50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe

Even though most Americans have become very frustrated with this economy, the reality is that the vast majority of them still have no idea just how bad our economic decline has been or how much trouble we are going to be in if we don't make dramatic changes immediately. If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies that our politicians keep telling them. Just "tweaking" things here and there is not going to fix this economy.
Even though most Americans have become very frustrated with this economy, the reality is that the vast majority of them...

Publisher: Salon.com

Author:

17 Dec 2011

Are those startling poverty numbers accurate

This week, the Associated Press reported a startling figure, citing a new census analysis: In 2010, about one in two Americans were living below the poverty line or in the low-income category.
This week, the Associated Press reported a startling figure, citing a new census analysis: In 2010, about one in two...
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Publisher: Euobserver

Author:

17 Dec 2011

IMF chief Lagarde warns of new ‘great depression’

Christine Lagarde, the head of the International Monetary Fund (IMF) has warned that the global economy faces being thrown into a deep "economic retraction" reminiscent of the great depression of the 1930 s. She said that no country is immune from the rising risks and that Europe needs to take the lead in formulating co-ordinated economic policies to head of the crisis and the possibility of a global recession.
Christine Lagarde, the head of the International Monetary Fund (IMF) has warned that the global economy faces being...

Publisher: 401Khelcenter.com

Author:

15 Dec 2011

How Congress, Banks and Wall Street Ruined Your 401k Plan

Due to a perfect storm of financial incompetence created by Congress, banks, and Wall Street our clients are going through an economic downturn that is destroying their retirement. This is not a normal economic cycle. This is a credit market fiasco that was caused by appalling decisions made in governmental monetary policy,
Due to a perfect storm of financial incompetence created by Congress, banks, and Wall Street our clients are going...

Publisher: CFED

Author:

14 Dec 2011

Child homelessness up 33% in 3 years

One in 45 children in the USA - 1.6 million children - were living on the street, in homeless shelters or motels, or doubled up with other families last year, according to the National Center on Family Homelessness.
One in 45 children in the USA - 1.6 million children - were living on the street, in homeless shelters or motels, or...

Publisher: NYTimes.com

Author:

12 Dec 2011

Depression and Democracy

It s time to start calling the current situation what it is: a depression. True, it s not a full replay of the Great Depression, but that s cold comfort. Unemployment in both America and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege.
It s time to start calling the current situation what it is: a depression. True, it s not a full replay of the Great...

Publisher: ritholtz.com

Author:

10 Dec 2011

Bailout Total $29.616 Trillion Dollars – The Big Picture

There is a fascinating new study coming out of the Levy Economics Institute of Bard College. Its titled "$29,000,000,000,000: A Detailed Look at the Fed's Bail-out by Funding Facility and Recipient" by James Felkerson. The study looks at the lending, guarantees, facilities and spending of the Federal Reserve.
There is a fascinating new study coming out of the Levy Economics Institute of Bard College. Its titled...

Publisher: Salon.com

Author:

9 Dec 2011

The insane wealth of Walmart’s founding family

There s been a constant stream of headlines about the widening gap between rich and poor for months now, but this is pretty remarkable: Just six members of the Walton family, heirs to the Walmart fortune, possess wealth equal to that of the entire bottom 30 percent of Americans.
There s been a constant stream of headlines about the widening gap between rich and poor for months now, but this is...

Publisher: zfacts.com

Author:

5 Dec 2011

$12 Trillion Republican National Debt

The chart in this report shows you the amount of debt accumulated by each president since Ronald Regan. The chart clearly shows that GOP presidents have been responsible for almost all of the national debt
The chart in this report shows you the amount of debt accumulated by each president since Ronald Regan. The chart...
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Publisher: AlterNet

Author:

5 Dec 2011

The GOP Recipe for Keeping the Economy Down Until Election 2012

Republicans don t believe in stimulating economies. They think markets eventually clear - once the pain is sufficient. Or in the immortal words of Herbert Hoover s treasury secretary, millionaire industrialist Andrew Mellon: "Liquidate labor, liquidate stocks, liquidate the farmer, liquidate real estate. It will purge the rottenness out of the system. People will work harder, lead a more moral life."
Republicans don t believe in stimulating economies. They think markets eventually clear - once the pain is sufficient....
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3 Dec 2011

The Collapse of the Anti-tax Movement: OWS Paves the Way — Cuomo Leads the Way

December has brought a sea-change to American politics. The absolutist anti-tax message embraced by Republicans and Democrats alike has begun to collapse, beginning in New York. And it spite of what you hear in the loonier moments of Republican Presidential debates, it's a bipartisan change. Over the past week Republican and Democratic officials in Albany have forged a consensus to enact a millionaire's tax, cut middle class taxes and fund government services.
December has brought a sea-change to American politics. The absolutist anti-tax message embraced by Republicans and...

Publisher: timesfreepress.com

Author:

28 Nov 2011

The biggest bailout

Who got the biggest bailout from the federal government? Was it one of the major banks, which have drawn so much of the anger of the liberal so-called Occupy Wall Street protesters around the country? Was it one of the auto companies perhaps? Not at all. In fact, the recipient of the biggest single bailout from Washington is not really a private-sector company -- at least not in the way we would normally understand that term. So who is it? It's government-run mortgage giant Fannie Mae. So far, Fannie Mae has received nearly $113 billion in bailout money from U.S. taxpayers.
Who got the biggest bailout from the federal government? Was it one of the major banks, which have drawn so much of the...

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27 Nov 2011

Wall Street unemployment

Three years after the global financial crisis nearly brought Wall Street firms to the brink, the nation's largest banks are again struggling. As profits wane, layoffs have claimed thousands of jobs and those still employed have seen their compensation shrink. These problems are set against the morale-crushing backdrop of the Occupy Wall Street movement, which has made a villain of a once-lionised industry.
Three years after the global financial crisis nearly brought Wall Street firms to the brink, the nation's largest banks...

Publisher: forbes.com

Author:

21 Nov 2011

Are One In Five American Children Hungry?

Childhood hunger is a nice, safe issue. No politician can be against hungry children, and we are told that the U.S. faces a child hunger problem of massive proportions. Advocacy groups repeat over and over that 16.2 million children (one in five) "struggle with hunger in the United States." Television appeals show dispirited children going to bed hungry.
Childhood hunger is a nice, safe issue. No politician can be against hungry children, and we are told that the U.S....

Publisher: fastcodesign.com

Author:

11 Nov 2011

The 1% Inevitable, Given How Networks Work?

An infographic, shows that a "core" of 1,318 companies representing 20% of the global economy collectively own (through stock shares) an additional 60% of global revenues. If that doesn't freak you out, within that core is a still smaller "super-entity" of 147 companies--mostly financial institutions, depicted as red dots--that appear to control 40% of the total revenue in the network
An infographic, shows that a "core" of 1,318 companies representing 20% of the global economy collectively own...

Publisher: POLITICO.com

Author:

7 Nov 2011

TARP: A success none dare mention

The Troubled Asset Relief Program is widely viewed as the original sin of the Obama administration - though it was put together under President George W. Bush and succeeded far beyond expectations. It's widely seen as the tipping point for disgust with elites and insiders of all kinds - though it could also be seen as those insiders finest moment, a successful attempt to at least partially fix their own mistakes.
The Troubled Asset Relief Program is widely viewed as the original sin of the Obama administration - though it was put...

Publisher: Reuters

Author:

28 Oct 2011

Five ways income inequality happened, and will continue

When it comes to income inequality, this is what U.S. politicians should be digesting now. While it's hardly a major revelation that for the top 1 percent of earners real after-tax income rose 275 percent between 1979 and 2007, the top 20 percent made more in after-tax income than the remaining 80 percent. That's quite a difference since the lowest-income group's median income only rose 18 percent.
When it comes to income inequality, this is what U.S. politicians should be digesting now. While it's hardly a major...

Publisher: http://thewhyaxis.info

Author:

27 Oct 2011

A Movement of Numbers: Occupy Wall Street

Communicating core issues and educating the public can add members to a movement and make real progress. Data visualization can be harnessed as a tool for education and recruitment by visually presenting issues to a broader audience. If you want to get up to speed on the movement, the best place to go is a graph. Let s examine some of the more effective and complex visualizations coming out of the movement.
Communicating core issues and educating the public can add members to a movement and make real progress. Data...

Publisher: The Guardian

Author:

27 Oct 2011

US economy grew at modest rate over summer

The US economy picked up modestly over the summer as consumers and businesses boosted spending. The news added to a strong rally on US stock markets cheered by a breakthrough in talks on the European debt crisis.
The US economy picked up modestly over the summer as consumers and businesses boosted spending. The news added to a...

Publisher: The Washington Post

Author:

25 Oct 2011

CBO: Top 1 Percent Almost Tripled Incomes, Fueling Inequality

The nation s richest citizens almost tripled their incomes between 1979 and 2007 as the inequality of the distribution of wealth in the United States expanded, according to a new government report. The top 1 percent saw their inflation-adjusted, after-tax earnings grow by 275 percent during that period, according to the nonpartisan Congressional Budget Office.
The nation s richest citizens almost tripled their incomes between 1979 and 2007 as the inequality of the distribution...

Publisher: WSJ.com

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22 Oct 2011

The Wild Ride of the Wealthiest 1%

The American rich, who used to be the most stable slice of the personal economy, are now the most volatile, with escalating booms and busts. During the past three recessions, the top 1% of earners (those making $380,000 or more in 2008) experienced the largest income shocks in percentage terms of any income group in the U.S., according to research from economists Jonathan A. Parker and Annette Vissing-Jorgensen at Northwestern University
The American rich, who used to be the most stable slice of the personal economy, are now the most volatile, with...

Publisher: POLITICO.com

Author:

19 Oct 2011

Unpaid student loans top $1 trillion

Giving validation to Occupy Wall Street protests over the increasing burdens of student debt, a new report indicates that the total amount of outstanding student loans this year will exceed $1 trillion for the first time.
Giving validation to Occupy Wall Street protests over the increasing burdens of student debt, a new report indicates...

Publisher: costoftaxcuts.com

Author:

18 Oct 2011

Cost of Tax Cuts

This is a live ticker that shows you the cost of Bush Tax cuts - money lost o the treasury for tax cuts to the top 1%, 4% and 5%
This is a live ticker that shows you the cost of Bush Tax cuts - money lost o the treasury for tax cuts to the top 1%,...

Publisher: dailybail.com

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18 Oct 2011

HOLY BAILOUT – Federal Reserve Now Backstopping $75 Trillion Of Bank Of America’s Derivatives Trades

Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers.
Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access...

Publisher: ritholtz.com

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18 Oct 2011

US Debt Accumulation by President

Its kinda funny - how come so few people (especially those on the right) were all that upset about the massive surge in debt under Bush? Is it that they only recently kinda figured out the significance of debt - or are they are merely hypocrites when it comes to this sort of thing?
Its kinda funny - how come so few people (especially those on the right) were all that upset about the massive surge in...
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Publisher: NYTimes.com

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17 Oct 2011

Groupon’s Red Flags Were Missed

This article demostrates part of the corruption in wall street. Companies with simplistic ideas are marketed at astronomical IPO valuations before they prove their worth. The Bankers as brokers benefit from the size of the IPO.
This article demostrates part of the corruption in wall street. Companies with simplistic ideas are marketed at...

Publisher: Political Correction

Author:

14 Oct 2011

Private Wall Street Companies Caused The Financial Crisis – Not Fannie Mae, Freddie Mac Or The Community Reinvestment Act

The Occupy Wall Street protests have called new attention to the root causes of the crisis, and led Republicans to reiterate their claim that government-backed lenders Fannie Mae and Freddie Mac were the primary villains. The facts about the subprime mortgage market prove that claim false: Private firms dominated the subprime market boom of 2004-06, and were not even subject to the 1977 Community Reinvestment Act some Republicans vilify.
The Occupy Wall Street protests have called new attention to the root causes of the crisis, and led Republicans to...

Publisher: nytimes.com

Author:

12 Oct 2011

Bankers’ Salaries vs. Everyone Else’s – NYTimes.com

The average salary in the banking industry in 2010 was $361,330 - five and a half times the average salary in the rest of the private sector in the city ($66,120). By contrast, 30 years ago such salaries were only twice as high as in the rest of the private sector.
The average salary in the banking industry in 2010 was $361,330 - five and a half times the average salary in the rest...
11 Oct 2011

Here’s What The Wall Street Protesters Are So Angry About.. (Charts)

The problem in a nutshell is this: Inequality in this country has hit a level that has been seen only once in the nation's history, and unemployment has reached a level that has been seen only once since the Great Depression. And, at the same time, corporate profits are at a record high.
The problem in a nutshell is this: Inequality in this country has hit a level that has been seen only once in the...

Publisher: Mother Jones

Author:

10 Oct 2011

6 Big Economic Myths, Debunked

When you turn on the TV, all you hear are the same pack of talking heads delivering the same manufactured economic sound bites: taxing the rich kills jobs, the stimulus failed, the defecit is out of control. These zombie talking points aren't just wrong; they're dangerous. If we're ever going to revive the economy, we've got to tackle them head on. Here are six of the worst.
When you turn on the TV, all you hear are the same pack of talking heads delivering the same manufactured economic sound...
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10 Oct 2011

Amid hard times, Wall Streeters expect higher bonuses

Last year, bonuses on Wall Street declined by 8%, according to data from the New York state Comptroller s office, with an average payout of $128,530. Just for your information, real median household income in New York state last year was $54,148, according to the U.S. Census Bureau.
Last year, bonuses on Wall Street declined by 8%, according to data from the New York state Comptroller s office, with...

Publisher: Daily Kos

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10 Oct 2011

CEO who laid off thousands gets $37 million retirement package

Craig Dubow recently retired as CEO of Gannett Inc., the giant publishing company resigned for Medical reasons -- he apparently has chronic hip and back problems. . To ease his retirement, Dubow will be getting as much as $37.1 million in retirement and health benefits from Gannett. This is a man who laid off 20,000 Gannett employees in his brief tenure, sending many, if not most, of them to an uncertain future with reduced or no health insurance and a perilous retirement.
Craig Dubow recently retired as CEO of Gannett Inc., the giant publishing company resigned for Medical reasons...

Publisher: theage.com.au

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10 Oct 2011

Executive pay the high cost of market failure

When it comes to executive pay, the market is broken. The game, you might say, is rigged. Chief executives and their assorted lobby groups are fond of saying "That's the market" when it comes to defending the massive salaries. "Look at America," they cry. "You have to pay top dollar to attract the best talent!"
When it comes to executive pay, the market is broken. The game, you might say, is rigged. Chief executives and their...

Publisher: washingtonpost.com

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6 Oct 2011

Who are the 1 percent?

Taken literally, the top 1 percent of American households had a mininum income of $516,633 in 2010 - a figure that includes wages, government transfers and money from capital gains, dividends and other investment income.
Taken literally, the top 1 percent of American households had a mininum income of $516,633 in 2010 - a figure that...

Publisher: The New Haven Register

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5 Oct 2011

Child poverty rate in Connecticut cities hits ‘alarming’ rate, census data shows

Connecticut workers earn a median income of $40,478 in an environment where income is falling among all groups and cities are facing 'alarming' child poverty rates, according to the American Community Survey, released Thursday by the Census Bureau.
Connecticut workers earn a median income of $40,478 in an environment where income is falling among all groups and...

Publisher: NC Justic Center

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5 Oct 2011

Poverty in North Carolina continues to rise, N.C. Justice Center reports

North Carolina s poverty rate jumped to 17.5 percent in 2010, a 22 percent increase since the beginning of the recession in 2007, according to new data from the U.S. Census Bureau, highlighting the widespread impact of the recession and need for policymakers to take immediate steps to address the lack of jobs and increased economic hardship.
North Carolina s poverty rate jumped to 17.5 percent in 2010, a 22 percent increase since the beginning of the recession...

Publisher: Crooks and Liars

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5 Oct 2011

Sign of the Times: Sesame Street Creates Muppet To Discuss Food Insecurity

The iconic kids show is set to unveil a new impoverished puppet named Lily, whose family faces an ongoing struggle with hunger issues. Lily will be revealed in a one-hour Sesame Street primetime special, Growing Hope Against Hunger, which is being sponsored by Walmart. The special will star country singer Brad Paisley and his wife Kimberly Williams Paisley, as well as the Sesame Street Muppets.
The iconic kids show is set to unveil a new impoverished puppet named Lily, whose family faces an ongoing struggle with...
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Publisher: shtfplan.com

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29 Sep 2011

Media Lunacy: Gold Is Backed By Nothing, Unlike the US Dollar Which Is Backed by the American Government

There s something else happening here. Some investors are not confident with what gold is backed by, or if it s backed by anything at all, as compared to something like the US dollar. Investors are comfortable that the U.S. dollar is backed by the America government, so no matter what is happening to the American economy, something like the U.S. dollar is backed by the Federal Reserve that s going to be around a year from now. That s a much more comfortable investment for them.
There s something else happening here. Some investors are not confident with what gold is backed by, or if it s backed...

Publisher: The Washington Post

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28 Sep 2011

Hispanic kids are the largest group of children living in poverty

Hispanics now make up the largest group of children living in poverty, the first time in U.S. history that poor white kids have been outnumbered by poor children of another race or ethnicity, according to a new study.
Hispanics now make up the largest group of children living in poverty, the first time in U.S. history that poor white...

Publisher: Forbes

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26 Sep 2011

Cost of Living Extremely Well Index : The Price of Living Large Is Up

The goods and services tracked in this article are not life s essentials - even for the ultra-wealthy. Home, family, health and one s occupation are far more important. Yet our tracking of the price fluctuations of items that are affordable only to those with very substantial means provides a useful barometer of economic forces at the top end of the market.
The goods and services tracked in this article are not life s essentials - even for the ultra-wealthy. Home, family,...

Publisher: The Gazette

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25 Sep 2011

Behind The Poverty Statistics: Real Lives, Real Pain

At a food pantry in a Chicago suburb, a 38-year-old mother of two breaks into tears. She and her husband have been out of work for nearly two years. Their house and car are gone. So is their foothold in the middle class and, at times, their self-esteem.
At a food pantry in a Chicago suburb, a 38-year-old mother of two breaks into tears. She and her husband have been out...
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Publisher: The Gazette

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25 Sep 2011

Behind The Poverty Statistics: Real Lives, Real Pain

At a food pantry in a Chicago suburb, a 38-year-old mother of two breaks into tears. She and her husband have been out of work for nearly two years. Their house and car are gone. So is their foothold in the middle class and, at times, their self-esteem.
At a food pantry in a Chicago suburb, a 38-year-old mother of two breaks into tears. She and her husband have been out...
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Publisher: Business Insider

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15 Sep 2011

The Myth of Small-Business Job Creation

Economists John C. Haltiwanger, Ron S. Jarmin and Javier Miranda make the case that, contrary to conventional wisdom, small, mature firms (a decade in operation and with 50 or fewer employees) may actually be slowing job growth.
Economists John C. Haltiwanger, Ron S. Jarmin and Javier Miranda make the case that, contrary to conventional wisdom,...

Publisher: cnn.com

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9 Sep 2011

Jobs plan may create 1 million jobs – economists

Economists gave generally positive reviews to President Obama's jobs plan Friday, with some estimating that at least 1 million jobs could be added in the next year if Congress passes the package. The payroll tax holiday for workers and small businesses was cited specifically for having a relatively good "bang for the buck." And that part of the plan may have the most bipartisan support.
Economists gave generally positive reviews to President Obama's jobs plan Friday, with some estimating that at least 1...

Publisher: Bernie Sanders

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21 Jul 2011

The Fed Audit

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression.
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a...
1 Jul 2011

The Widening Academic Achievement Gap between the Rich and the Poor

This paper examines the relationship between family socioeconomic characteristics and academic achievement during the last fifty years. As the income gap between high- and low-income families has widened, so has the achievement gap between children in high- and low-income families.
This paper examines the relationship between family socioeconomic characteristics and academic achievement during...

Publisher: Mother Jones

Author:

1 Apr 2011

It’s the Inequality, Stupid

A huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.
A huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent,...

Publisher: NYTimes.com

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9 Feb 2011

Insider Trading Inquiry Steps Up Its Focus on Hedge Funds

The government has taken its strongest action against hedge funds as part of a vast investigation into insider trading on Wall Street. Federal prosecutors on Tuesday announced charges against three hedge fund managers, depicting a "triangle of trust" in which the three shared tipsters and illegally pooled confidential information about publicly traded technology companies.
The government has taken its strongest action against hedge funds as part of a vast investigation into insider trading...

Publisher: NYTimes.com

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19 Nov 2010

Bernanke Addresses China’s Currency Policy

Ben S. Bernanke, the Federal Reserve chairman, argued Friday that currency undervaluation by China and other emerging markets was at the root of "persistent imbalances" in trade that "represent a growing financial and economic risk."
Ben S. Bernanke, the Federal Reserve chairman, argued Friday that currency undervaluation by China and other emerging...
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