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Income Inequality: 1 Inch to 5 Miles
The average increase in real income reported by the bottom 90 percent of earners in 2011, compared with 1966, if measured at one inch, would extend almost five miles for the top 1 percent of the top 1 percent. More >
Roubini Says 2013 `Storm’ May Surpass 2008 Crisis
“Well, it’s much worse, because like 2008 you have an economic and financial crisis, but unlike 2008, you’re running out of policy bullets. In 2008, you could cut rates from 5%-6% down to zero, do QE1, QE2, QE3, you could do fiscal stimulus up to 10% of GDP, you could backstop a guarantee bailout of
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Number Of Children Living In High-Poverty Areas Increased 25 Percent In The Last Decade
A new report by the Annie E. Casey Foundation finds that nearly 8 million children were living in high-poverty areas in 2010 (the latest data available), a 25 percent increase since 2000. The report noted that “research has shown that even when family income is held constant, families living in areas of concentrated poverty are [...]
Understanding Alternative Economies with Transition Berkeley, Tues 2/21/12
The Occupy Movement brought much-needed attention to the injustice of our economic system, but what are the alternatives to the status quo? Join Transition Berkeley for an enlightening evening introducing some exciting innovative solutions that help build community and a better world. Meet panelists Marco Vangelisti (Slow Money), Mira Luna (Time Banks-Bay Area Community Exchange), [...]
‘Occupy Our Homes’ Looks To Save Fifth Detroit Resident From Foreclosure
This week, Occupy Our Homes, an outgrowth of the Occupy Wall Street movement, successfully helped a 78 year-old former civil rights activist in Atlanta stay in her home, after she was threatened with foreclosure by JP Morgan Chase (while the bank was simultaneously touting its commitment to the values of Dr. Martin Luther King Jr.). [...]
Occupy Wall Street Submits 325 Page Letter On Volcker Rule To SEC
Occupy the SEC, a working group affiliated with Occupy Wall Street, has submitted a 325 page comment letter to the Securities and Exchange Commission calling for the strict enforcement of Section 619 of the Dodd-Frank Act, known better as the Volcker Rule. “Like much of the 99%,” reads the letter, “we have bank deposits and [...]
New York Federal Reserve Estimates 3.6 Million Foreclosures Will Occur In The Next Two Years
While foreclosure rates hit a four-year low in 2011, the early signs for 2012 don’t look good when it comes to housing, as banks have begun to work through a backlog of foreclosures that were delayed by the foreclosure fraud scandal. In fact, the New York Federal Reserve anticipates that 3.6 million foreclosures will occur [...]
BlackRock’s Surprising Reach into the US Economy
While attention has been focused on the activities of that great vampire squid, Goldman Sachs, investment firm BlackRock has been quietly taking over the American economy. In a presentation scheduled for 2:30 pm on Saturday, January 7 at the Labor and ...
Billionaire Stephen Schwarzman, Poster Child For Tax Loopholes, Says Poor People Lack ‘Skin In The Game’ On Taxes
Our guest blogger is Seth Hanlon, Director of Fiscal Reform at the Center for American Progress Action Fund. One of Mitt Romney top fundraisers and fellow 1-percenter Stephen Schwarzman was recently on television questioning the civic involvement of nearly half of Americans. Asked on Bloomberg TV whether he would be willing to pay higher taxes [...]
Sluggish Economy And Low Immigration Push U.S. Population Growth To Slowest Rate Since 1945
The sluggish economy pushed down U.S. birth rates last year and immigration reached the lowest levels since 1991, combining to lead to the slowest population growth in the U.S. since 1945, when the population actually dropped by 0.3 percent. Between April 2010 and July 2011, the U.S. population grew by 2.8 million people, or 0.7 [...]
