A few corporations are tearng apart our world while handing us scraps, and yet we love them. This is one of those articles to ignore, but it had a few words worth sharing.
the tech industry is decimating the rest of the planet’s wealth and stability.
Its companies — especially the Frightful Five of Apple, Amazon, Google, Facebook and Microsoft, which employ a select and privileged few — look poised to systematically gut much of the rest of the economy. And while Silicon Valley’s technologies could vastly improve our lives, we are now learning that they may also destabilize great portions of the social fabric — letting outsiders wreak havoc on our elections, fostering distrust and conspiracy theories in the media, sowing ever-greater levels of inequality, and cementing a level of corporate control over culture and society unseen since the days of the Robber Barons.
Should the Middle Class Invest in Risky Tech Start-Ups? https://nyti.ms/2yrOwLi
A look at what we could do to prevent the next crash as opposed to what we’ve done in the past.
The Fed missed the crisis in part because it has a dual mandate to keep unemployment and consumer price inflation low — and both were low before 2008. Real reform would add a third mandate: maintaining financial stability, and in particular stabilizing prices for assets like houses and stocks, which are not counted as “consumer prices” but now have a bigger influence on the economy.
What Trump Can Do to Prevent the Next Crash https://nyti.ms/2y0ynwn
Democrats ignore important issues like economic inequality at their own peril. Racism is important but it’s forest for the trees issue. More persons of color will benefit in the short and long run from addressing economic equality issues than by fighting white supremacists. Bannon and Trump get it and they bamboozled their followers into believing they would improve the economy. Of course history will show they didn’t improve economic opportunities for people of any color and they made racism popular again, but Democrats can give them license to do more of the same by chasing identity politics.
“The longer they talk about identity politics, I got ’em,” he said of Democrats. “I want them to talk about racism every day. If the left is focused on race and identity, and we go with economic nationalism, we can crush the Democrats.”
But there are many more voters in Trump’s camp who still consider themselves Democrats. Some live in the much-discussed zone of despair, places where opportunities for people without a college degree are few, and the opioid epidemic rages. These folks are persuadable, if the message is economic hope — something that Obama understood, and Hillary Clinton never did.
This doesn’t mean that Democrats should not speak out when a cop kills someone for driving while black. Nor does it mean that Democrats should not join with progressive institutions — the military and forward-looking corporations among them — when Trump turns back the clock on transgender rights, or equal opportunity.
But you can’t bang just one drum. Trump has said demonstrably racist things many a time, from his birther obsession to his taco bowl tweet. He still won, “on a straightforward platform of economic nationalism,” as Bannon noted.
“As long as Democrats fail to understand this, they will continue to lose,” he said.
So, even though Trump now threatens to shut down the government that he runs over his insane and unpopular border wall, even though he’s told 1,000 verifiable lies since he’s been in office, his horrid character will not be enough to help the forces of good.
What if Steve Bannon Is Right? https://nyti.ms/2w3gRt6
Going backward by reducing regulation of the financial industry will not help citizens.
The calls for deregulation come from greedy businessmen who put their interest and personal profit ahead of what’s best for the citizens of our country.
On top of that they are too lazy to seek business solutions which drive profit while keeping the financial system safe. There are ways to have both, but it takes more effort.
The real issue is do we have meritocracy or a kleptocracy?
Yellen Warns Against Erasing Regulations Made After Financial Crisis https://nyti.ms/2w45pxm
Are we caught in a can’t win situation between the climate and the economy?
If demand grows and we consume more goods and resources the climate suffers. If demand increases through population growth the climate suffers. If demand decreases the economy suffers.
Can we develop a world that’s not dependent on continuous growth for economic stability? Can we have an equitable world that’s not dependent on ever greater numbers of consumers?
It’s time to think about how we can live better not bigger.
Economic growth in advanced nations has been weaker for longer than it has been in the lifetime of most people on earth.
This slow growth is not some new phenomenon, but rather the way it has been for 15 years and counting. In the United States, per-person gross domestic product rose by an average of 2.2 percent a year from 1947 through 2000 — but starting in 2001 has averaged only 0.9 percent. The economies of Western Europe and Japan have done worse than that.
We’re in a Low-Growth World. How Did We Get Here? http://nyti.ms/2aIWeW5
Why were people so willing to think a tiger would change its stripes?
Of course The Drumpf is serving his own needs first. Of course he lied to those who voted for him. Of course those who voted for him were fools to believe that he would follow through on his promises to them.
He’s outsourcing our economic policy to Wall Street.
“Steve Mnuchin is just another Wall Street insider,” Senator Bernie Sanders of Vermont and Senator Elizabeth Warren of Massachusetts said in a joint statement. “That is not the type of change that Donald Trump promised to bring to Washington — that is hypocrisy at its worst.”
Trump’s Economic Cabinet Picks Signal Embrace of Wall St. Elite http://nyti.ms/2gMB0sN
It’s still hard to believe that anything but separatism, bigotry, misogyny, and small mindedness drove Trump supporters.
But it’s not hard to believe that Wall Street running our political machine makes people mad. When no one on Wall Street got punished for the recession yet most Americans felt the consequences it was an unspoken travesty. Now maybe it’s going to be dealt with.
“Are you going to return to the situation under Bush and Clinton where Wall Street wrote its own rules in the back room?” Mr. Stanley asked. “Or are you going to put forward something that constitutes a genuine alternative and that will prevent Wall Street from rigging the economy?”
How Letting Bankers Off the Hook May Have Tipped the Election http://nyti.ms/2eoC61h