unemployment

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Stuart Staniford has a terrific piece that offers a little visual clarity about food, energy, unemployment and the Riots in the Middle East and North Africa: Tunisia is a minnow in the global oil market, Egypt slightly more important. Algeria, however, matters a lot as its oil production is probably close to total demonstrated OPEC…

From HuffPo, this article about the likely outcome that the Democrats will fail to pass an unemployment extension – unfortunately it was bound to happen sooner or later, but it will be crushingly hard on millions of people who have just been barely making it, and now aren’t. The legislation, known as the “tax extenders”…

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,…