US Economy

 Bibliography  Cartoons   Movies

Internal Links

External Links

Boom or bust? Despite the recent spectacular growth in stock prices, the average wage for production and non-supervisory workers has actually gone down. Where is the “trickle-down effect”? See the official figures (104K). Missing the overall by David Podvin, 03 February 2002. “Multi-Trillion Dollar Financial Scandal - 'This Thing Involves Everybody'” White-collar Criminals: Enough Is Enough by Clifton Leaf, 18 March 2002. “They lie they cheat they steal and they've been getting away with it for too long.” The Rah-Rah Boys by Thomas Frank, 18 August 2002. “There are no mea culpas from the gurus who prophesied an unending bull market. They're still cruising from one posh gig to the next.” Junk School Nation by Philip Farruggio, 20 August 2002. "Are you better off than you were four years ago?" by Henry Waxman, 09 October 2002. “In the 1980 Presidential debates, Ronald Reagan asked the memorable question, 'Are you better off than you were four years ago?' Over 20 years later, and almost two years into the term of President George W. Bush, this question is still relevant. An analysis of current indicators of the nation's social and economic well-being shows that many are again declining.” US in denial as poverty rises by Ed Vulliamy, 03 November 2002. Next door to Yale, the bastion of privilege that turns out the land's leaders, lies a tent city of America's poor, huddled masses. Ed Vulliamy reports on the rise in inequality as the nation prepares to vote. Aesop's Fables 13 February 2003. “Ever since the current bear market started in early 2000, strategists, economists, and general investors have blamed the market and economic woes on everything except the real cause.” Targeting welfare by Paul Krugman, 28 May 2003. Black, Brown and White, Unite to Stop America's Decline! by Dennis Rahkonen, 27 June 2003. Long queue at drive-in soup kitchen by Julian Borger, 03 November 2003. “George Bush's America, the wealthiest nation in history, faces a growing poverty crisis. In the first of a three-part series Julian Borger takes the pulse of the US with elections just a year away.” Land where calling an ambulance is first step to bankruptcy by Julian Borger, 04 November 2003. The second in a three-part series on Bush's America looks at the inflated hospital bills facing the uninsured poor. Why America's plutocrats gobble up $1,500 hot dogs by Julian Borger, 05 November 2003. In the final part of a series, Julian Borger examines the inequality of the Bush era. The Fight of Our Lives by Bill Moyers, 16 June 2004. “Astonishing as it seems, no one in official Washington seems embarrassed by the fact that the gap between rich and poor is greater than it's been in 50 years – the worst inequality among all western nations.” The Economic Tsunami by Mike Whitney, 08 April 2005. More Phony Jobs Hype by Paul Craig Roberts, 12 May 2005. Katrina uncovers the forgotten queues at America's soup kitchens by David Teather, 17 October 2005. “Community leaders fear Washington will soon forget the poor millions.” The Economy in a Nutshell by Lawrence Mishel and Ross Eisenbrey, 23 December 2005. “Profits are up, but the wages and the incomes of average Americans are down; more and more people are deeper and deeper in debt; job creation has not kept up with population growth, and the employment rate has fallen sharply; poverty is on the rise; rising health care costs are eroding families' already declining income,” Slaves to Debt: Can Our Economy Run Without Fear? by Julian Edney, 22 April 2006. Hiding Behind Islamism by Abid Ullah Jan, 05 July 2006. “It is necessary to understand the links between the present day monetary system, American dominance and fascism. Many of us do not realize the way “Islamism” is used to avoid the global depression on the pattern of the Wall Street crash in 1929. The impending depression is directly linked to the supremacy of the United States.” America's Economic Meltdown by Mike Whitney, 09 September 2006. Lost Wars and a Lost Economy by Paul Craig Roberts, 10 October 2006. US Economy Leaving Record Numbers in Severe Poverty by Tony Pugh, 23 February 2007. Quotations from the Great Depression. Cost, abuse and danger of the dollar by Rudo de Ruijter, 06 March 2007. Hedging Disaster by Robert Kuttner, 28 April 2007. “The burgeoning hedge fund and private equity industries are both a cause and a symptom of a dangerously lopsided America. Because they are private (not listed on stock exchanges or offering shares to the public), these funds do not have to disclose their inner workings to regulators or to the public. Yet these unregulated funds are increasingly buying and selling some of our largest corporations, stripping assets, piling on debt, leaving employees and subsequent buyers to dig out of a deep hole.” Liquidity boom and looming crisis by Henry C K Liu, 09 May 2007.

“According to Business Week, the average CEO made 42 times the average blue-collar worker's pay in 1980, 85 times in 1990 and a staggering 411 times in 2001.” From the AFL-CIO.  LaRouche `Typical Collapse Function' Confirmed by U.S. Economy, 1996-2001 THE STOCK MARKET - Technical Forecast and Summary. Wealth Patterns: Distribution of Net Worth (by population segments). The rich get richer and the poor get poorer. Comstock Partners Inc. “The list of negative factors affecting the stock market has now become so numerous that it is highly likely that a severe bear market has already started. We begin with the fact that, as measured by earnings and dividends, this is by far the most overvalued market of the past century.” (10 December 1999).  Poverty up, pay down as economy sputters from the St. Petersburg Times, 25 September 2002. “The number of Americans living in poverty increased for the first time in eight years in 2001, and the nation's median household income declined, the U.S. Census Bureau reported Tuesday.” Down and Out in White-Collar America by Nelson D. Schwartz, 09 June 2003. “Professionals have never had a tougher time finding a job. It's not just the economy; the rules of the game are changing”  Interview with Peter Elkind on Smartest Guys in the Room by Bethany McLean and Peter Elkind. “This was the story of how banks – Citi, JP Morgan, Chase and Merrill Lynch – helped Enron pull off the scam. The banks were among Enron's greatest enablers. Enron could not have committed the fraud it pulled off without enormous help from the blue-chip investment banks, from top law firms and accountants.” The Daily Reckoning, a Contrarian view. The changing face of poverty in America by Octavio Blanco, 30 December 2004. (From CNN/Money). “Millions of Americans live in poverty, more families are suffering and hunger is seen growing.” The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer by Dean Baker, May 2006. A free downloadable 119-page book. “In his new book, economist Dean Baker debunks the myth that conservatives favor the market over government intervention. In fact, conservatives rely on a range of "nanny state" policies that ensure the rich get richer while leaving most Americans worse off.”  The Great Wealth Transfer by Paul Krugman, 30 November 2006. “It's the biggest untold economic story of our time: more of the nation's bounty held in fewer and fewer hands. And Bush's tax cuts are only making the problem worse.”

This web page conforms to the HTML 4.01 standards.