On The Economic Populist you might have noticed the left column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.
Sometimes though, one cannot say it better but miss those who did. These posts are all related to the Greek Crisis.
Must Read Post #1
The New York Times has a fantastic graphic of the interdependence in Europe on Greek Debt with an accompanying article describing the EU dominoes.
Labor Productivity is still squeezing the middle class to death. Labor Productivity rose 3.6% in Q1 2010 after an astonishing 6.2% jump in Q4 2009. Output increased 4.4% and hours worked increased another pathetic 0.8%, annual rate. Hourly compensation increased 2.3%.
For the year labor productivity increased 6.1% and hours worked fell 3.0%.
This gain in productivity from the same quarter a year ago was the largest since output per hour increased 7.0 percent over the four-quarter period ending in the first quarter of 1962.
Think about bad trade deals, offshore outsourcing, insourcing (or bringing in cheap labor, undercutting U.S. workers wages and jobs). There is no way this is due to your iPhone or advances in technology, which is the common blow off response from economists.
Below is productivity, compounded against last quarter percent change:
Why does the Obama administration want to kill the popular Senate Bernie Sanders amendment to audit the Fed? The amendment may be up for a vote later this week and there are reports the amendment vote will be hit with that magical, fictional 60 to pass, instead of 50, which is the norm for amendments.
Obama administration officials have declined to weigh in on any specific amendments, with one exception: a move by Sen. Bernie Sanders (I., Vt.) to give the government more power to audit certain operations at the Federal Reserve. Fed and administration officials have signaled they would fight to stop it at all costs. Mr. Sanders has more than a dozen co-sponsors.
At all costs. Really? Including a veto? What is wrong with wanting to know what happened to $2 trillion dollars? Why would the Obama administration demand to remove public disclosure out of the financial reform bill?
On The Economic Populist you might have noticed the side columns. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.
Sometimes though, one cannot say it better but miss those who did.
The four middle-skill occupations -- sales, office and administrative workers, production workers and operators -- accounted for 57.3% employment in 1979. That portion fell to 48.6% in 2007, and declined to 45.7% in 2009, according to the report.
The O word, offshore outsourcing is mentioned as a cause.
Must Read #2
This is one of those articles where one might strongly suspect a lobbyist plant. A study claims regulating derivatives will cost 41% of Goldman Sachs profits. Hmmmm, does the study assume those funds are now redirected to investing in the real U.S. economy?
If ya all are wanting some blood on the floor, the Goldman Sachs hearing may give it to you. Below is Senator Levin questioning a Goldman Sachs internal email labeling a toxic asset, a CDO called Timberwolf, as caca:
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
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