The Big Picture of U.S. Economy – It’s Ugly

Economic Growth Rates

Last week, the unemployment report came out for July.  The U.S. added 255,000 jobs, more than economists had forecast, and suddenly the economy is doing great, everything is back on track, and the Federal Reserve is likely to raise interest rates later this year. If you follow the economy through the daily media or the…

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Book Review: Makers and Takers by Rana Foroohar

Rana Fohoohar

… subtitled The Rise of Finance and the Fall of American Business, Rana Foroohar’s book is an in-depth look at the dangers posed by a financial services industry bent on maximizing short-term profits at the expense of real investment in the U.S. economy… Finance and economics are complex subjects.  Throw politics and public policy into the mix, and it…

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Hillary’s Infrastructure Plan Comes Up Short

Hillary Clinton has proposed investing $275 billion over five years in American infrastructure – roads, bridges and transit systems. There is just one problem: $275 billion is just a fraction of what is actually needed to restore and repair American infrastructure. The amount that should be invested, according to the American Society of Civil Engineers…

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Supply-Side Voodoo and the Need for Meaningful Tax Reform

For decades, Republicans and their wealthy patrons have outflanked the Democratic Party on the issue of tax reform. Republicans have successfully propagated the “supply side” myth that tax cuts stimulate demand and economic growth. And they have wrapped their bogus message in a veneer of anti-government rhetoric that has effectively resonated across the country. Three…

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