Economy

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Category archives for Economy

Lloyd Blankfein, Meet Roxy Hart

I can’t think when I’ve heard something as disingenuous as Goldman Sachs CEO Lloyd Blankfein’s claim that he was “humbled” by his questioning by Congress. Oh, wait, I can…in the musical Chicago, when Billy Flynn, the star attorney points out to Roxy Hart that because people are idiots, we can only sell one idea at…

As you know, Greer and I at times have our differences in perspective, but I think this week’s column is particularly acute, and offers up two point that I think are really essential to grasp when thinking of the future. The first is that technical feasibility is not all – that technical feasibility rests on…

To make up for yesterday’s frivolity, today I am going to be very, very serious, and deal with weighty serious things. There will be no levity – not from me, and certainly not from my very serious readers. In fact, if I detect signs of levity from any of you, especially those of you with…

I’m a day late with Nate Hagen’s piece, but I just have to link here – it has a beauty and elegance I really admire, and Id do wish him the very best of luck in his new venture. In fact, I’m starting to think that maybe I can cash in too! OK – here…

Poultry is a Feminist Issue?

First of all, may I ask which New York Times editor was responsible for permitting the coinage “femivore” to pass into language. Talk about illiterate (linguistically a “femivore” would be someone who ate women) and uneuphonious – yes, yes, I get that you want to get a Michael Pollan reference in there somehow, but come…

20% of the US is Un- or Under- Employed

In January, the same month that unemployment “fell” to 9.7% (by which we mean we only lost a few hundred thousand jobs, and we hadn’t yet done the inevitable upward revision), we learn that about 20% of Americans were underemployed or unemployed and finding it hard to make ends meet. This compared to the BLS…

Down, Out, and Hated

Robert S. McElvaine’s _Down and Out in the Great Depression_ is a fascinating look at America during the Depression. Compiled from letters written to Franklin and Eleanor Roosevelt and Herbert Hoover, it presents Americans in their own words, saying what they thought was most important in the Depression. Besides the pleas for help and the…

Everyone needs to read Don Peck’s superb Atlantic Magazine piece on why the jobs aren’t coming back anytime soon. It confirms what I began writing back in late 2008 – that most often economic crises of the kind we have been seeing last a decade or more. Most recessions end when people start spending again,…

Increasingly, the cost of staying wired is eating up a huge part of people’s budgets accordinging to The Times: It used to be that a basic $25-a-month phone bill was your main telecommunications expense. But by 2004, the average American spent $770.95 annually on services like cable television, Internet connectivity and video games, according to…

Every news media I looked at it is trumpeting good news – while unemployment increased in January, we’re thrilled that it was only be 20,000 jobs. Because of this, the unemployment rate fell to 9.7% amid, as we learn on CNN “hope the economy will add jobs soon.” What’s buried in the middle of the…