Ireland’s economic troubles threaten the financial health of Europe and even the U.S. At the heart of the multibillion-dollar crisis are two highflying bankers who some say took the country for a ride. Ireland was hailed as an economic miracle…
Blog Archives
G20 summit agrees to reform IMF
Andrew Walker Finance ministers from the G20 leading economies have agreed reforms of the International Monetary Fund, giving major developing nations more of a say. At a meeting in South Korea, they agreed a shift of about 6% of the…
Tagged with: Federal Reserve, G20, IMF, International Monetary Fund, World Bank
Posted in Economics, Money
Posted in Economics, Money
Just Because You Make a Lot of Money Doesn’t Mean You Know What You’re Talking About
James Kwak Hedge fund managers may be good at investing money. (Or they may just be the beneficiaries of luck, like successful stock mutual fund managers.) But that doesn’t mean they can think clearly. Andrew Ross Sorkin comments on the…
Between 1947 and 1973, the typical American family’s income grew 200% in real terms. Between 1973 and 2007, it grew by only 22%. In mid-2008 the typical family’s income was lower than in 2000 while the richest 10% earned half of all income, surpassing their previously highest share in 1928.
UPPER BOUND The American dream is simple: work hard and move up. As the country emerges from recession, the reality looks ever more complicated AMERICANS are an optimistic lot. If there is one thing they believe in above all, it…
Tagged with: income, income equality, ruling class
Posted in Capitalism, Economics, Money, Reports/Studies/Books, United States
Posted in Capitalism, Economics, Money, Reports/Studies/Books, United States
Squashing the Goldman Vampire Squid
by Dean Baker In the past few months we have learned a number of things about Goldman Sachs. In February, we found out that it played a central role in helping Greece to hide its government budget deficit from the…
Tagged with: goldman sachs, greed
Posted in Capitalism, Corporate World, Economics, Money, Reports/Studies/Books
Posted in Capitalism, Corporate World, Economics, Money, Reports/Studies/Books
China alarmed by US money printing
The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.…
Tagged with: Federal Reserve, US Treasury
Posted in China, Economics, Federal government, Money, United States
Posted in China, Economics, Federal government, Money, United States
Paying for War at the Pump
What’s it got to do with the price of gas? Would some reporter with access to the Republican presidential candidate please ask John McCain why he wants to continue President Bush’s Mideast policy when it has proved so ruinous for…
Tagged with: john mccain
Posted in Bush Adminisration, Economics, George W. Bush, Iraq War, US Foreign Policy
Posted in Bush Adminisration, Economics, George W. Bush, Iraq War, US Foreign Policy
Moderate Observer 