ECONOMIC TRUTH in...
Follow
Find
128 views | +0 today
ECONOMIC TRUTH in The 21st Century
How lies, politics & creative accounting affects everything in your life.
Your new post is loading...
Your new post is loading...
Scooped by The Daily Feast
Scoop.it!

A Taxpayor Death Every 12 Minutes: The Price of Not Having Medicare for All

A Taxpayor Death Every 12 Minutes: The Price of Not Having Medicare for All | ECONOMIC TRUTH in The 21st Century | Scoop.it

Cartoon from FrontPorchRepublic.com


In 2002, that more than 18,000 Americans between the ages of 19 and 64 were dying each year as a result of being uninsured. The number in 2009 was two and a half times that figure, or around 45,000.


2012: Obamacare is still being debated and soon The Supreme Court will make their decision as to how many more taxpaying Americans will be allowed to die each year because they lack health care.


Meanwhile about half of the country plans to vote against healthcare for all while more and more middle class Americans are pushed into lower paying jobs that do not offer healthcare coverage.


A 24 year old died from a tooth infection because he couldn't afford treatment, while the Tea Party cheers on more deaths for the uninsured at a Republican primary debate [video]

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

A choice of capitalisms

A choice of capitalisms | ECONOMIC TRUTH in The 21st Century | Scoop.it

By E.J. Dionne Jr. | The Washington Post


In this election, we’re not having an argument that pits capitalism against socialism. We are trying to decide what kind of capitalism we want.

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Guardian's front page $1,000,000,000,000

Guardian's front page $1,000,000,000,000 | ECONOMIC TRUTH in The 21st Century | Scoop.it

- the cost of Greek euro exit

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

HOUSE IS VOTING TO FUND ANOTHER WAR? Kucinich Warns: 'We're getting ready for war against Iran' with Thursday votes - The Hill's Floor Action

HOUSE IS VOTING TO FUND ANOTHER WAR?  Kucinich Warns: 'We're getting ready for war against Iran' with Thursday votes - The Hill's Floor Action | ECONOMIC TRUTH in The 21st Century | Scoop.it
Rep. Dennis Kucinich (D-Ohio) warned Thursday morning that two planned House votes later in the day will move the U.


Here are the bills. Read it!

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Predictions Ahead of the Econ Triple Whammy - Boehner Targets Tax Cuts for Wealthy

Predictions Ahead of the Econ Triple Whammy - Boehner Targets Tax Cuts for Wealthy | ECONOMIC TRUTH in The 21st Century | Scoop.it

TDF Predicts:  Between Wall Street's ability to "create crisis" and the extreme right-wing's desire to have their own way at any cost --- the US Economy is about to get hit with a triple whammy (add in the Euro collapse) that Boehner and Tea Company are more than too happy to assist since they are literally "praying" for a full scale Depression to affect their own political agenda.


Last summer the far right-wing agenda pushed the United States' credit rating into chaos  -- this summer they plan to triple that effect to get their people elected.



Meanwhile...


House Speaker John Boehner, as part of a GOP bid to stop Bush-era tax cuts from expiring, will say Tuesday that his chamber will vote this fall to establish a process through which Congress could enact a tax overhaul in 2013.

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Perhaps It’s Jamie Dimon Who Needs a Psychiatrist | The Nation

Perhaps It’s Jamie Dimon Who Needs a Psychiatrist | The Nation | ECONOMIC TRUTH in The 21st Century | Scoop.it

JP Morgan’s CEO Jamie Dimon once sarcastically complained that all his traders would need to talk to a psychiatrist in order to comply with regulations. Now, in the absence of strict regulations, every trader on the street is psychoanalyzing Dimon’s every word in order to try to make money off JP Morgan’s very large mistake.

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

PRIVATE EQUITY'S FAST FOOD LOVE: How Bain Capital & guys like Mitt Romney made us fat

PRIVATE EQUITY'S FAST FOOD LOVE: How Bain Capital & guys like Mitt Romney made us fat | ECONOMIC TRUTH in The 21st Century | Scoop.it
How Bain Capital made us fat Why private equity — especially the firm that made Mitt Romney rich — loves fast-food chains


found on Ye Old Soapbox


BY ANDREW LEONARD  (Credit: iStockphoto/liveslow/Salon) Burge...

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Is America in fiscal austerity yet?

Is America in fiscal austerity yet? | ECONOMIC TRUTH in The 21st Century | Scoop.it
The short-term importance of the budget bill which the House approved this week is that Democrats now have another vote which they can use against Republicans running in tough races this fall.
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Patriotism? Super Rich Renounce US Citizenship to Make Tax Evasion Easier (And Other Ways the Wealthy Cut Ties to Country) | Economy | AlterNet

Patriotism?  Super Rich Renounce US Citizenship to Make Tax Evasion Easier (And Other Ways the Wealthy Cut Ties to Country) | Economy | AlterNet | ECONOMIC TRUTH in The 21st Century | Scoop.it
The world’s super rich are fashioning themselves into a new global tribe of footloose and stateless. The rest of us get to gawk — and foot the ultimate bill.
more...
No comment yet.
Rescooped by The Daily Feast from Coffee Party News
Scoop.it!

Connecting the dots: Economic policy, "Citizens United," and gay rights

Connecting the dots: Economic policy, "Citizens United," and gay rights | ECONOMIC TRUTH in The 21st Century | Scoop.it

by ERIC BYLER, Coffee Party USA

 

I have a fondness and an appreciation for Chris Matthews because he is thorough, factual, and so unmistakably and genuinely in love with the subject that he covers: politics.

 

I listened to the latest episode of Hardball with Chris Matthews tonight, and I liked it so much that I might watch it as well. The show covered three issues about which I'm very passionate

  1. One percent economic policy vs. 99 percent economic policy with guests Paul Krugman and Jon Heilemann. Krugman makes the point that private sector employment has returned to levels before the Great Recession, but that public sector employment is way down because of One percent economic policies (austerity). Krugman says unemployment would be at 7 percent if we had pursued 99 percent economic policies. Heilemann points out that such policies were not attainable during these past years because of fiscal conservatives in both the Republican and Democratic parties. And Matthews adds that if Obama had tried to do more for jobs and the economy, it might have backfired on him, and no legislation would have been passed at all. [MORE]

Via Eric Byler
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

BofA to Cut From Elite Ranks

BofA to Cut From Elite Ranks | ECONOMIC TRUTH in The 21st Century | Scoop.it
Bank of America Corp. is planning about 2,000 staff cuts in its investment banking, commercial banking and non-U.S. wealth-management units.
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

President Obama's record on jobs

President Obama's record on jobs | ECONOMIC TRUTH in The 21st Century | Scoop.it

Check out this chart to see the progress made since the President took office—then pass it on.


TDF Comments:  Think of how many more jobs would have been created if the Republicans in Congress really were working to help this economy along.


Then think about their Paul Ryan budget, their wanting to layoff 200K postal workers, etc...  do Republicans "really" want Americans working again or are they more intent on dismantling the parts of the government that don't work for them and their contributors.


more...
No comment yet.
Rescooped by The Daily Feast from Coffee Party News
Scoop.it!

Remember the 2003 GDP Rebase "aka" There's No Basis for a Comparison of GDP Between Reagan & Obama Erass

Remember the 2003 GDP Rebase "aka" There's No Basis for a Comparison of GDP Between Reagan & Obama Erass | ECONOMIC TRUTH in The 21st Century | Scoop.it

by JOE WEISENTHAL, Business Journal

 

You frequently hear people debate the Obama recovery against the Reagan recovery, but it's pretty dicey.

 

The times were totally different (and the recessions were very different) so you're left with just a lot of speculation and counterfactuals and so forth.  But here's an interesting apples to apples approach.

 

The chart above was made by Reuters' Scotty Barber, and it shows economic growth in the US, the UK, and Europe.

 

Now the first thing to note is that the US has recovered WAY better than either the Eurozone or the UK. So if you think Obama has been a disaster, you might first acknowledge that the US has performed better than all its major Western peers. [MORE]


Via Eric Byler
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Facebook IPO: Regulators may probe allegations Morgan Stanley shared negative news with investors pre-Facebook IPO | Financial Services News | FP Street | News | Financial Post

Facebook IPO: Regulators may probe allegations Morgan Stanley shared negative news with investors pre-Facebook IPO | Financial Services News | FP Street | News | Financial Post | ECONOMIC TRUTH in The 21st Century | Scoop.it
Facebook’s shares fell sharply again on Tuesday and two top U.S.
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Nick Hanauer on Who Really Creates Jobs: It's Not The Wealthy.

[video] Originally supressed by TED

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Senators to Saverin: Don't come back. Ever.

Senators to Saverin: Don't come back. Ever. | ECONOMIC TRUTH in The 21st Century | Scoop.it

Eduardo Saverin's decision to leave the United States with his money, but not his citizenship, has apparently touched a nerve in the Senate.


more...
No comment yet.
Rescooped by The Daily Feast from Coffee Party News
Scoop.it!

Congress Has Nine Bills Pending to Weaken Wall Street Regulations

Congress Has Nine Bills Pending to Weaken Wall Street Regulations | ECONOMIC TRUTH in The 21st Century | Scoop.it

by PAT GARAFALO, Think Progress

 

These proposals threaten to create large oversight-free zones that could allow risky behaviors to flourish.

 

 

JP Morgan’s $2 billion derivatives trading debacle has forced House Republicans to, at least temporarily, delay their efforts to repeal the Dodd-Frank financial reform law. Republicans on the House Agriculture Committee yesterday pushed back votes on a series of bills that would weaken the derivatives portion of Dodd-Frank.

 

JP Morgan’s $2 billion derivatives trading debacle has forced House Republicans to, at least temporarily, delay their efforts to repeal the Dodd-Frank financial reform law. Republicans on the House Agriculture Committee yesterday pushed back votes on a series of bills that would weaken the derivatives portion of Dodd-Frank.

 

Those bills had already been cleared by the House Financial Services Committee, which has been making a concerted effort to chip away at Dodd-Frank. And overall, according to a report from Public Citizen, nine bills are pending in Congress that would weaken Dodd-Frank’s title on derivatives:

Those bills had already been cleared by the House Financial Services Committee, which has been making a concerted effort to chip away at Dodd-Frank. And overall, according to a report from Public Citizen, nine bills are pending in Congress that would weaken Dodd-Frank’s title on derivatives:

 

Since the passage of Dodd-Frank, industry has engaged in a concerted effort to weaken it. At least nine bills are pending in Congress that would water down its derivatives reforms. Three additional bills would saddle federal agencies with additional burdens to fulfill requirements to issue concerning financial services, including those involving derivatives.

 

Among other things, these bills would eliminate a requirement for federally insured banks to spin off their derivatives operations; reduce disclosure requirements for certain derivatives trades; provide a broad exemption from Dodd-Frank’s provisions for swaps involving foreign affiliates of U.S. companies; and exempt purportedly small players, even those with up to $200 billion in the notional value of their derivatives exposure.

 

 [MORE]


Via Eric Byler
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

For every $10,000 in profits the industry earns - another smoker dies. The Book Big Tobacco Doesn't Want You to Read

For every $10,000 in profits the industry earns - another smoker dies. The Book Big Tobacco Doesn't Want You to Read | ECONOMIC TRUTH in The 21st Century | Scoop.it
With "Golden Holocaust," historian Robert Proctor deconstructs an industry that still kills more than 400,000 Americans a year.
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Homebuilders' confidence hits highest level in five years - The Hill's On The Money

Homebuilders' confidence hits highest level in five years - The Hill's On The Money | ECONOMIC TRUTH in The 21st Century | Scoop.it
Home builders confidence in the trajectory of the housing market hit its highest point in five years in May.
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

It's Time to Rethink Continuous Improvement

It's Time to Rethink Continuous Improvement | ECONOMIC TRUTH in The 21st Century | Scoop.it

TDF Comments via Joyce Mcmenamin:  It's about time someone chatted this topic up in a serious manner. Continuous improvement is more about motivating people toward innovation than it is about manipulating metrics.


Six Sigma, Kaizen, Lean, and other variations on continuous improvement can be hazardous to your organization's health. While it may be heresy to say this, recent evidence from Japan and elsewhere suggests that it's time to question these methods.

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

The Ryan Budget May Cut Economic Data - Census data

The Ryan Budget May Cut Economic Data - Census data | ECONOMIC TRUTH in The 21st Century | Scoop.it

TDF Comments:  Threats to cut the very information we need to avoid further financial problems.


Starting in the early 1990s, the U.S. Census Bureau asked Congress for extra funding each year so it could better analyze the services sector, which was quickly replacing industrial activity as the biggest driver of the U.S.

more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Senate Republicans block vote on student loan interest rates

Senate Republicans block vote on student loan interest rates | ECONOMIC TRUTH in The 21st Century | Scoop.it
Senate Republicans Tuesday afternoon blocked the advancement of a Democratic bill to extend the current student loan interest rate over objections to how the measure will be funded.
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Manufacturing sector continues its expansion - The Hill's On The Money

Manufacturing sector continues its expansion - The Hill's On The Money | ECONOMIC TRUTH in The 21st Century | Scoop.it

by Vickie Needham | The Hill.com


The manufacturing sector's expansion hit its fastest pace last month in nearly a year, exceeding expectations and buoying the nation's slowly recovering economy.

more...
No comment yet.
Rescooped by The Daily Feast from 21st Century EXTREMISM, ELITISM and POLITICAL POWER
Scoop.it!

Austerity, and a New Recession?: The European

Austerity, and a New Recession?: The European | ECONOMIC TRUTH in The 21st Century | Scoop.it

"Politics Is at the Root of the Problem"

 

by Joseph Stiglitz

 

Austerity policies are driving us towards a double-dip recession, warns US economist Joseph Stiglitz. He sat down with Martin Eiermann to discuss new economic thinking and the influence of money in politics.

 

 

 

 


Via Lynda Park, The Daily Feast
more...
No comment yet.
Scooped by The Daily Feast
Scoop.it!

Why Low Minimum Wages Kill Jobs and Crush Living Standards for Everyone | Economy | AlterNet

Why Low Minimum Wages Kill Jobs and Crush Living Standards for Everyone | Economy | AlterNet | ECONOMIC TRUTH in The 21st Century | Scoop.it

By Marshall Auerback


Regardless of what the Wisconsin Walkers & Republican Romneys of this country believe, the truth is:


Decent pay for workers actually helps the economy and boosts job creation.

more...
No comment yet.