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Milt Priggee | Capitalism / media.cagle.com

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Austerity is Dead

  • It’s Time to Focus on Jobs & Growth
  • Paul Krugman | Debunked Reinhart-Rogoff Paper 'Did A Lot Of Damage' 

Progress Report, ThinkProgress

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Jun 6, 2013|For the better part of three years Washington has been gripped by an obsession with the deficit, but a new paper out from the Center for American Progress today argues that it’s time to abandon austerity, ditch deficit hysteria, and instead focus on jobs and economic growth.

What’s changed since Washington caught deficit fever in 2010? A lot, as it turns out.

Full story…

Related:

Paul Krugman | Debunked Reinhart-Rogoff Paper 'Did A Lot Of Damage' Huffington Post

  • “That paper of theirs did a lot of damage by giving people who didn’t want stimulus, who didn’t want any kind of expansionary policy, a way to scare their opponents.”
  • Paul Krugman’s right: Austerity kills
  • Austerity debunked

 

 

Section(s): 

Paul Krugman | Debunked Reinhart-Rogoff Paper 'Did A Lot Of Damage'

  • “That paper of theirs did a lot of damage by giving people who didn’t want stimulus, who didn’t want any kind of expansionary policy, a way to scare their opponents.”
  • Paul Krugman’s right: Austerity kills
  • Austerity debunked

Huffington Post

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Flickr/401(K) 2013

06/02/2013 | Having a public spat with your colleagues and former classmates over the best way to fix the global economy can be “very unpleasant,” according to Paul Krugman.

The Nobel Prize-winning economist and New York Times columnist told Fareed Zakaria that “the stakes are high” in his public debate with Carmen Reinhart and Ken Rogoff, over their research which found a close correlation between high levels of public debt and slow economic growth. Researchers recently debunked the two economists’ findings, which were widely cited by pro-austerity politicians to justify cutting governments spending.

Full story…

 

Related:

Paul Krugman’s right: Austerity kills, David Stuckler and Sanjay Basu, Salon

  • Austerity kills -- radical cuts destroy economies and lives, and the honest numbers and economics keep proving it.
  • Excerpted from "The Body Economic: Why Austerity Kills"
  • How America Became a Third World Country (2013-2023)
  • The Real Cost of Austerity

Austerity debunked, Aljazeera

 

Everything You Heard About the Deficit Falling Is Wrong

  • Most of the media bought the notion that somehow the deficit had magically halved. Let's look at the math.
  • The Housing Market Recovery Is ‘A Complete Hoax’ 

Nomi Prins, AlterNet

 

Photo Credit: Shutterstock.com/Paul Cotney

 

May 23, 2013  | If it’s too good to be true, it probably isn’t. Especially if it involves math, the Treasury Department, and two disparate political camps championing two different economic doctrines that came of age decades ago. 

 

So went the telling of the deficit story last week. Most of the media bought the notion that somehow the deficit had magically halved to $682 billion from around $1.1 trillion last year, based on not even examining the Treasury Department's own reports before promoting that gleeful and surreal conclusion.

 

Full story...

 

Related:

 

The Housing Market Recovery Is ‘A Complete Hoax’ Truthdig

  • Five Star Institute economist Mark Lieberman has shown that banks are keeping more than 7 million homes off the market in this manner in order to “reduce listings, create the illusion of ‘scarcity,’ and push up prices,” Whitney reports. The housing market recovery, then, is “a complete hoax.”

 

The Gospel of Consumption

And the better future we left behind

Jeffrey Kaplan, Orion magazine

May/June 2008 | Private cars were relatively scarce in 1919 and horse-drawn conveyances were still common. In residential districts, electric streetlights had not yet replaced many of the old gaslights. And within the home, electricity remained largely a luxury item for the wealthy.

Just ten years later things looked very different. Cars dominated the streets and most urban homes had electric lights, electric flat irons, and vacuum cleaners. In upper-middle-class houses, washing machines, refrigerators, toasters, curling irons, percolators, heating pads, and popcorn poppers were becoming commonplace. And although the first commercial radio station didn’t begin broadcasting until 1920, the American public, with an adult population of about 122 million people, bought 4,438,000 radios in the year 1929 alone.

Full story...

Paul Krugman’s right: Austerity kills

  • Austerity kills -- radical cuts destroy economies and lives, and the honest numbers and economics keep proving it.
  • Excerpted from "The Body Economic: Why Austerity Kills"
  • How America Became a Third World Country (2013-2023)
  • The Real Cost of Austerity

David Stuckler and Sanjay Basu, Salon 

This article is made possible with the generous contributions of all reader supported Evergreene Digest readers like you. Thank you!

Sunday, May 19, 2013 | “I will never forgive them,” wrote 13-year-old Kieran McArdle to the Daily Record, a national newspaper based in Glasgow. “I won’t be able to come to terms with my dad’s death until I get justice for him.”

Kieran’s father, 57-year-old Brian, had worked as a security guard in Lanarkshire, near Glasgow. The day after Christmas 2011, Brian had a stroke, which left him paralyzed on his left side, blind in one eye, and unable to speak. He could no longer continue working to support his family, so he signed up for disability income from the British government.

Full story…

Related:

How America Became a Third World Country (2013-2023), Mattea Kramer and Jo Comerford‚ TomDispatch

  • Too few Americans -- with too little influence -- spoke up, and Washington didn’t listen. The rest of the story, as you well know, is history.
  • What a grim scene you have: a country investing in war in distant lands as it crumbles here at home.

The Real Cost of Austerity, Truthdig

  • It’s high time our elected officials started listening to the wisdom of economists like Nobel Prize winner Paul Krugman, who for months has been consistently warning us about the dangers of austerity. And once again, he’s been proved right.
  • Austerity debunked, Aljazeera
  • Everything We Know About What’s Happened Under Sequestration

 

Section(s): 

Greg Palast | My Big Fat Greek Minister

Greece is a crime scene. And its working people are not the perpetrators of the crime, they are the victims - scammed, defrauded, their national industries looted and their treasury drained by financial flim-flam.

Greg Palast, Vice Magazine

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Greek minister Theodoros Pangalos

Monday, May 20, 2013 | It wasn't too difficult picking out the Fat Bastard in the crowd of Russian models, craven moochers and media mavens. Besides, Fat Bastard and I were both desperate for coffee and heading for the same empty urn.

(We'd both signed on for Kazakhstan's annual Eurasia Media Forum, a kind of Burning Man festival for Eastern oilgarchs and their media camp followers.)

Full story…

The Real Cost of Austerity

  • It’s high time our elected officials started listening to the wisdom of economists like Nobel Prize winner Paul Krugman, who for months has been consistently warning us about the dangers of austerity. And once again, he’s been proved right.
  • Austerity debunked
  • Everything We Know About What’s Happened Under Sequestration

Truthdig

This article is made possible with the generous contributions of all reader supported Evergreene Digest readers like you. Thank you!

Flickr/401(K) 2013

May 7, 2013 | For those pushing austerity as the solution to America’s economic ills, here’s a reality check: According to a new study, austerity policies have cost the U.S. roughly 2.2 million jobs.

In the 46 months since the recession ended, federal, state and local governments have cut approximately half a million jobs, a study by Michael Greenstone and Adam Looney at the Brookings Institution found. After other recessions since 1970, the government typically hired about 1.7 million workers.

Reports such as this one show that it’s high time our elected officials started listening to the wisdom of economists like Nobel Prize winner Paul Krugman, who for months has been consistently warning us about the dangers of austerity. And once again, he’s been proved right.

Full story…

Shutterstock illustration of American candle burning.

Related:

Austerity debunked, Aljazeera

 

Everything We Know About What’s Happened Under Sequestration, Theodoric Meyer, ProPublica

May 7, 2013 | When the annual White House Easter Egg Hunt faced cancellation this year due to the package of mandatory budget cuts known as sequestration, the National Park Service kicked into high gear. It rescued the event 2014 held since 1878 2014 with money from “corporate sponsors and the sale of commemorative wooden eggs,” according to the Washington Post.

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