It's the stupid, economy.
I'm no economist
, but I'm reminded of the underpants gnomes
business strategy when I read this
. Obviously there is a political component (to the story) but what the $!@(# are the nuts and bolts? Why is pressuring economic engine states (California, New York) a good thing?
(registration to the L.A. Times ... sry) Pretty much the same story here
posted by Smedleyman
on Dec 5, 2004 -
A little coffee shop in a little North Carolina town closes.
When I worked in Fuquay-Varina, N.C., the opening of the Hyphen
(get it? get it? the Hyphen in Fuquay-Varina?) was a miracle. There, in the midst of antique stores, clothiers, and the Bob Barker Co.
, was this hip, unique eatery owned and operated by two local artists. Owner Nina Fortmeyer partially cites that the little tobacco town has simply become "Wal-Mart-ized" in its growth, leading to a loss in downtown foot traffic, leading to lost business. This, methinks, is the greatest and most obvious consequence of globalization, the mom-and-pops being run out of town. If this is happening in Fuquay-Varina, it is absolutely happening everywhere. Very sad.
posted by NedKoppel
on Jul 8, 2003 -
Monetary Policy in a Zero-Interest-Rate Economy [pdf]
This report written by the Dallas Fed
is amazing. Amongst other things, it outlines a plan to tax your savings
as a way to continue to stimulate consumption should rates
fall to zero. While opinions of the 'fed
range from worship to outrage, their actions raise some serious questions. Why does this unelected
group wield so much power? At what point are their actions (taxing savings) a violation of our property rights? If our economy is built on capitalism, why can we not be capitalists and embrace the opportunity presented by both boom and bust? At what point are we a command economy
posted by H. Roark
on Jun 19, 2003 -
Drowning the government in a bathtub
- "My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub."
Thus spoke Grover Norquist, of Americans for Tax Reform
. "The lunatics are now in charge of the asylum"
, quipped the conservative UK Financial Times
. Hardly, says Paul Krugman
. The strategy?: "Instead of challenging popular liberal programs directly, the Republicans are creating fiscal conditions that make those programs unsustainable." [lead post, Am. Prospect]. In other words, the 400 billion dollar deficit
, coupled with the Bush tax cuts, is designed to shift the obligations of the Fed onto the States
and, later, to cause a fiscal train wreck after Bush is out of office.
posted by troutfishing
on Jun 12, 2003 -
Quick, Hide The Body!
"...But the Bush administration chose to keep the findings out of the annual budget report for fiscal year 2004, published in February, as the White House campaigned for a tax-cut package that critics claim will expand future deficits.
The study asserts that sharp tax increases, massive spending cuts or a painful mix of both are unavoidable if the US is to meet benefit promises to future generations. It estimates that closing the gap would require the equivalent of an immediate and permanent 66 per cent across-the-board income tax increase."
posted by owillis
on May 28, 2003 -
The United States Is In Deep Doo doo!
In the end, there is no such thing as a free lunch. You cannot make money grow in value by shaking it back and forth from one bank to another. You cannot prosper a nation by doing each other's laundry, or filling out their government mandated and greatly obfuscated paperwork, or flinging stock certificates around which may have as little real worth as Federal Reserve Notes. To make money, to show a profit, you must make products that somebody else wants to buy, and sadly, that is a capability the United States has allowed to slip away in great measure.
posted by stazen
on Mar 14, 2003 -
Could he be right yet again? : Interview with Bob Prechter
(and another one
If he is, we're all in for a world of hurt.
In this three part interview, Elliott Wave International president Robert Prechter discusses his new book, “Conquer The Crash: How To Survive and Prosper in a Deflationary Depression.”
During the 1980s, Bob Prechter won numerous awards for market timing as well as the United States Trading Championship, culminating in Financial News Network (now CNBC) granting him the title, "Guru of the Decade." In 1990-1991, he was elected and served as president of the nation-al Market Technicians Association in its 21st year.
He has also published a seminal book on Elliott wave analysis titled, “Elliott Wave Principle – Key To Market Behavior,” three books on the major practitioners of wave analysis, and books on his own views in Prechter's Perspective and At the Crest of the Tidal Wave.
posted by muppetboy
on Feb 13, 2003 -
Ted Rall says that college loans are killing America.
I'm inclined to agree. At just $14,736, I'm on the lighter-side of college loan debt, but being a single father, I have a hard time making a dent. Ted makes some salient points about young adults who are struggling to make money in a recession. They don't work for the Peace Corps, they don't volunteer, etc. Even China criticizes America on our insistence that students endebt themselves to corporations just for education.(via fark
posted by taumeson
on Feb 11, 2003 -
Shooting the messenger.
"The Bush administration, under fire for its handling of the economy, has quietly killed off a Labor Department program that tracked mass layoffs by U.S. companies." (via madamjujujive)
posted by four panels
on Jan 4, 2003 -
Things you won't hear
at the Wacko dog and pony show today on the economy. Would some real discussion of these issues have been so bad? Isn't public discussion and consensus how our form of government is supposed to work? Isn't the keynote speaker a prime example of what is wrong in corporate America today?
posted by nofundy
on Aug 13, 2002 -
J.K. Galbraith shocked at scale of corporate failures.
"I can only say I hadn't expected to see this problem on anything like the magnitude of the last few months – the separation of ownership from management, the monopolisation of control by irresponsible personal money-makers." Myself and chrispy
came to the same conclusion on the drive home from the resolutely un- (rather than anti-) corporate Glastonbury Festival
today. Profit is valued and rewarded by the vast majority of corporations above all else. As a consquence, people with the same values dominate executive positions, to the exclusion of those with more 'humanitarian' or longer-term outlooks. Where is the balance? Should we make hippie non-exec directors compulsory? Or should I just go back to bed and let the drugs wear off???
posted by barnsoir
on Jul 1, 2002 -
High Finance Run Amok
[latimes free reg req] is a Kevin Phillips editorial on the "financialization" of the US economy. "As the financial sector, in short, became too important to fail, the Fed and the Treasury abandoned market economics to embrace socialization of credit risk. No other sector of the U.S. economy, save possibly defense, received such governmental assistance."
posted by electro
on Jun 24, 2002 -
The Saudis are about to deliver an ultimatum to Bush In a bleak assessment, he [Prince Abdullah] said there was talk within the Saudi royal family and in Arab capitals of using the "oil weapon" against the United States, and demanding that the United States leave strategic military bases in the region. Such measures, he said, would be a "strategic debacle for the United States." How should Bush respond?
posted by Rastafari
on Apr 25, 2002 -
isn't this exactly opposite of what we're being told? I'm always hearing the wealthy are benefitting somehow from GWB's new tax plan. I'm certainly no-where near the top 5%, and now I don't want to be.
posted by the_0ne
on Apr 9, 2002 -
Emancipator or Oppressor?
E.J. Dionne talks about how the global economy may not be as evil or as good as its respective supporters and detractors make it out to be. It seems like a pretty balanced look at a subject that gets horribly slanted coverage.
posted by owillis
on Jan 2, 2002 -
A sign of Global recession?
For the first time I can remember, it's cheaper to buy a console in the UK than it is the States. Over here, we're used to seeing straight dollar to pound conversions ($299 = £299), so this is a first.
Do you think it's sign of recession or just Sony developing a conscience?
posted by jiroczech
on Sep 28, 2001 -
This is truly awesome.
Awesome. Awesome. Awesome. Awesome. Awesome.
Just the best use of flash, collaborative model/data building and use of interactive interface to explain a complex issue... i.e. the interconnections of money, influence and power in boardrooms of the global economy.
Conceived designed and built by Josh ON and the FutureFarmers
I think it's going to move to a more permanent and snappier URL once it's fully ready for prime-time... I hope Josh and the gang don't mind me posting it here... but it's just too good not too... It genuinely deserves a lot of praise and attention, IMHO.
posted by blackbeltjones
on Jul 19, 2001 -
Was the bust really a Bust
(See below)? Douglas Rushkoff doesn't think so. But then, he's a pretty optimistic guy, if you ask me. (Warning, his article links to MetaFilter... Does that count as a self-link?)
posted by LAM
on Jul 5, 2001 -
the adventive report
"While many deadpool websites continue to monitor the failures of the high-profile flops, the aim of the Adventive Report is to highlight the companies that are persisting in the face of an Internet slump. Through testimonials, examples, and editorials, our newsletter showcases a myriad of achievements in an evolving industry."
posted by riley370
on May 26, 2001 -
Starbucks lays claim to 20% of all American cafes.
Does anybody in this lately conservatized land of ours care on who's backs our wealth rests upon? Virtually every vegetable, piece of fruit, bottled soda, cup of coffee we ingest is produced at rock bottom prices for the corporations that exploit our neighbors to the south. Our way of life in the States is directly tied to how miserable the living/working conditions of laborers in "developing" countries are. Developing countries--what a misnomer. The only thing developing are profits for select Americans and/or fear that the threat of recession will negate the purchase of that little luxury car I've had my eye on.
posted by crasspastor
on Mar 28, 2001 -
The House has passed the bankruptcy reform bill
that Clinton vetoed at the end of the last session. I'm mildly optimistic that it won't pass the Senate, given that the Democratic vote in the House was split. But should we be worried at all? At first glance
, it doesn't seem like a bad idea. But so many consumer groups are against it, and it seems to benefit credit card companies while hurting individuals, so I'm inclined to think we should leave things as-is. Especially since personal bankruptcies are down and credit card issuers' profits are up. Anyone know more about this?
posted by aaron
on Mar 1, 2001 -
Bad Subjects Interviews Howard Zinn.
I'm not sure I buy globalization as "a more sophisticated kind of imperialism," but given recent efforts to expand corporate welfare and manufacture enemies for a reinvigorated military-industrial complex I think parallels with 19th century robber-barons and the Great BBQ are apt. Lefties and libertarians unite!
posted by kliuless
on Feb 21, 2001 -
I think they got a bargain.
A company which was in financial trouble let a kid come in for two weeks as an intern. He took a look at their business, immediately set up a web site for them to sell their product, and they promptly received an order for 70,000 pounds through that web site. It appears it will save their company.
posted by Steven Den Beste
on Dec 28, 2000 -
One Year After Seattle
-- "A year has passed since the World Trade Organization's "Millennium Round" collapsed under clouds of tear gas in Seattle," writes Mark Weisbrot
, in this useful overview of what was -- and is -- at stake. "The debate over globalization has been altered, perhaps permanently, to include some of the concerns of civil society: poverty and inequality, economic instability, and the environmental costs of globalization...."
posted by johnb
on Nov 30, 2000 -
was created to help you decipher what the tax plans by both presidential candidates mean to you personally." Enter some information from your paycheck and find out how much you'd save using either Bush's or Gore's tax plans. via dandot.
posted by phooey
on Oct 11, 2000 -