Tag: Economy

Stop This Ruinous Albertsons-Kroger Merger

The price issue is especially salient, given public outrage over food prices. Writing earlier this month in The Washington Post, Abha Bhattarai and Jeff Stein reported that food prices rose 25 percent during the past four years, compared to an overall inflation rate of 19 percent. More than two-thirds of voters said, in a November […]

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Stop This Ruinous Albertsons-Kroger Merger

The price issue is especially salient, given public outrage over food prices. Writing earlier this month in The Washington Post, Abha Bhattarai and Jeff Stein reported that food prices rose 25 percent during the past four years, compared to an overall inflation rate of 19 percent. More than two-thirds of voters said, in a November […]

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This Ruinous Grocery Store Merger Must Be Stopped

The price issue is especially salient, given public outrage over food prices. Writing earlier this month in The Washington Post, Abha Bhattarai and Jeff Stein reported that food prices rose 25 percent during the past four years, compared to an overall inflation rate of 19 percent. More than two-thirds of voters said, in a November […]

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Gas Prices Make a Pit Stop

WASHINGTON, D.C. — After suddenly spiking more than a dime two weeks ago, the national average for a gallon of gas had a calm week by remaining at $3.27.  News that the large BP-Whiting refinery in Indiana, offline since early February due to power issues, is reopening soon may have contributed to easing pump price […]

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The Return of Trump’s Housing Policy Would Be a Horror Show

In contrast to the Trump administration’s annual requests to hollow out HUD, Biden and Vice President Kamala Harris have asked Congress to expand the agency’s budget each year. Moreover, current HUD Secretary Marcia Fudge has wisely declined to continue the Opportunity Zone boondoggle. Fudge has also reversed Carson’s egregious rule changes and is working to […]

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A Return to Trump’s Housing Policies Would Be a Disaster

In contrast to the Trump administration’s annual requests to hollow out HUD, Biden and Vice President Kamala Harris have asked Congress to expand the agency’s budget each year. Moreover, current HUD Secretary Marcia Fudge has wisely declined to continue the Opportunity Zone boondoggle. Fudge has also reversed Carson’s egregious rule changes and is working to […]

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Japan is no longer the world’s third-biggest economy despite its stock market peaking

Japan has long been one of the dominant economic forces in the world, particularly with its technological advances in the 21st century. So it sent shockwaves through the global market on Thursday when it was revealed that Japan had unexpectedly slipped into a recession, allowing Germany to overtake it as the world’s third-largest economy.  Japan’s […]

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Gas Prices Aren’t Showing the Love

WASHINGTON, D.C. — After months of barely budging more than a few cents, the national average for pump prices moved into the fast lane, surging 12 cents since last week to $3.27.  A significant contributor is a shutdown at the large BP-Whiting refinery in Indiana, which has been offline for more than two weeks due […]

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Resolved: The U.S. Should Stop Growing Tobacco

According to a WHO report, “More than 90 percent of the world’s tobacco is grown in low- and middle-income countries, mostly by smallholder farmers who need to use unpaid family labor to make ends meet, leading to child labor.” As the market penetration of cigarettes continues to shrink among adults worldwide, the big tobacco companies […]

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How the world economy learned to live with the drama

It seems that geopolitical crises are 10 a penny in 2024, with concerns around the global financial system, an inflation crisis in the West, deflation in China and half the world’s population heading to the polls.  There is “little wonder that analysts speak of ‘polycrisis’, ‘hellscapes’; and a ‘new world disorder’”, said The Economist. “And […]

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Affirmative Action Is Dead, and Inequality Is Still Crushing Workers

African Americans represent about 13 percent of the workforce and about 35 to 48 percent of the occupations where they’re ghettoized. Notably, there are no longer any jobs that are so “Black” that Blacks represent the majority, as they once did in low-paying jobs such as housekeeper, Pullman porter (an occupation that no longer exists), or sharecropper […]

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The Wretched Inequality Crushing America’s Workers

African Americans represent about 13 percent of the workforce and about 35 to 48 percent of the occupations where they’re ghettoized. Notably, there are no longer any jobs that are so “Black” that Blacks represent the majority, as they once did in low-paying jobs such as housekeeper, Pullman porter (an occupation that no longer exists), or sharecropper […]

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The Corporate Crooks Who Got Caught Stealing Workers’ Wages

As Brian Beutler pointed out in his Off Message newsletter, this was worthy of alarm bells: “The question of whether elites, particularly center-right elites, choose to abide fascism is central to the survival of democracy.” In a later post, Beutler dove deeper into Dimon’s rhetoric, and found evidence that whatever ties that might have bound […]

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Trump Pretends He’s Still President. Biden Should Treat Him That Way.

But now that Trump, all but officially the GOP’s nominee for president (sorry, Nikki), is explicitly dictating what elected Republicans do, Biden can update that 2020 message. The chaos of the Trump years, which voters roundly rejected, is in danger of making a comeback. In fact, it’s already back, among Republicans in Congress, and Biden […]

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Roses Are Red, Violets Are Blue – Oil Costs Tick Up and Gas Prices Too

WASHINGTON, D.C. — Sticking to the slow lane since last week, the national average for a gallon of gas dipped slightly for a few days before rising a fraction of a cent higher to $3.15. However, seasonal demand trends, higher costs for oil, and routine refinery maintenance will likely push pump prices slowly higher soon. […]

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Why Big Tech Loves To Lay Off Workers

Otherwise, layoffs are an accepted fact of economic life—so much so that in 2013, when Congress compelled the Bureau of Labor Statistics to cut its (teensy) budget by five percent, the agency eliminated its Mass Layoff Statistics program, which collected detailed (and quite useful) information about which industries did the laying off; which regions had […]

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The Perverse Cruelty of Big Tech Layoffs

Otherwise, layoffs are an accepted fact of economic life—so much so that in 2013, when Congress compelled the Bureau of Labor Statistics to cut its (teensy) budget by 5 percent, the agency eliminated its Mass Layoff Statistics program, which collected detailed (and quite useful) information about which industries did the laying off, which regions had […]

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A Third of New York’s Public Housing Implicated in Massive Bribery Scandal

The bribes pose just another monetary loss for an essential housing system that has been woefully underfunded for decades. According to a 2018 NYCHA assessment, federal capital funding has met only a fraction of capital needs since 2006. In the agency’s 2017 physical needs assessment, a five-year financial trajectory for improvements, NYCHA determined that it’s […]

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Dozens of Public Housing Officials Arrested in Record Corruption Bust

The bribes pose just another monetary loss for an essential housing system that has been woefully underfunded for decades. According to a 2018 NYCHA assessment, federal capital funding has met only a fraction of capital needs since 2006. In the agency’s 2017 physical needs assessment, a five-year financial trajectory for improvements, NYCHA determined that it’s […]

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Krugman: Trump-MAGA Are in Deep Denial About Biden’s Good Economy

It’s one of the strangest disconnects in our politics today: By many metrics, the economy is doing extremely well, yet President Biden’s approval numbers on the economy are in the toilet. With the latest jobs report showing an extraordinary 353,000 jobs created in January, we talked to New York Times columnist Paul Krugman about what […]

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Why the Explosive Jobs Report Will Hit Trump Harder Than You Think

The jobs report is a major victory for President Biden, especially heading into the election, as several recent benchmarks, including strong GDP and falling inflation, suggest a booming economy that even consumers are starting to notice. Liberals and Democrats have had good reason to panic about Biden’s low approval numbers, particularly on the economy. Those […]

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Like A Reliable Old Stove, Gas Prices Slowly Heat Up

WASHINGTON, D.C. — The national average for a gallon of gas rose by a nickel since last week to $3.15. The upward trend is likely a combination of oil costs edging into the upper $70s per barrel and normal seasonal increases as winter eases and demand for gas creeps higher. “We are in that time […]

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That Judge Is Right. Elon Musk Isn’t Worth What Tesla Pays Him.

But wait, you say: Ambitious or not, Musk met the targets. Doesn’t that count for something? Well, sure. If I bet you that next year I will write a book that spends 26 weeks on The New York Times bestseller list, and if I write that book, and if the book spends 26 weeks on […]

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How Elon Musk’s Zany Compensation Arrangement Got Blown Up in Court

But wait, you say: Ambitious or not, Musk met the targets. Doesn’t that count for something? Well, sure. If I bet you that next year I will write a book that spends 26 weeks on The New York Times bestseller list, and if I write that book, and if the book spends 26 weeks on […]

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Brexit: where we are four years on

Today marks four years since the UK formally left the European Union. At the time Boris Johnson, who had just won an 80-seat majority promising to “get Brexit done”, hailed the date as the start of a new golden era for Britain. Turning rhetoric into reality has proved much harder, however. Johnson is gone, as […]

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Watch: GOP Congresswoman Tries to Take Credit for Bills She Voted Against

The benefits of free flights didn’t stop at the NRA head, who also effectively allowed his family to use the company credit card for trips, charging the NRA more than $1 million for flights around the country, including a $26,995 flight from Dallas to Orlando, a $15,495 flight from Las Vegas to Nebraska, and a […]

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America’s Rent Crisis Is Getting Worse

Rather than rely on market forces to create affordable housing (Build, baby, build!), I think government will have to intervene more directly. In his 2023 book Poverty, by America, the Princeton sociologist Matthew Desmond observes, cuttingly, that “liberals have a despondency problem: fluent in the language of grievance and bumbling in the language of repair.” […]

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