Have we become a welfare state for the military-industrial complex? In August, 2018, Congress passed the Fiscal Year 2019 National Defense Authorization Act (NDAA) with overwhelming bi-partisan [...]
There has been an explosion of discussion about whether to cancel student debts. Critics of the idea point out that wealthy people would be the main gainers, posing moral hazard. The debate has [...]
Not surprising, the $2.7 trillion in social program spending cuts will finance spending for the military and defense related programs like Homeland Security, Border walls, veterans, police, and [...]
Michael Hudson, one of the few economists who accurately predicted the Great Recession, has written a book — …and Forgive Them Their Debts — that caused John Siman to remark in Naked Capitalism: [...]
Melissa Latronica is a 30-year-old healthcare worker and single mother of three who lives in La Porte, Indiana, 65 miles southeast of Chicago. On February 11, Melissa was pulled over by police in [...]
Medical problems contributed to 66.5% of all bankruptcies, a figure that is virtually unchanged since before the passage of the Affordable Care Act (ACA), according to a study published yesterday [...]
The latest US Treasury Department data shows that foreign investors slashed their holdings of American debt in November by $105 billion, from a year earlier, to $6.2 trillion. China, the largest [...]
It's been almost a year since the Republican Party and President Donald Trump delivered their behemoth giveaway to the nation's corporations and wealthiest individuals by passing a $1.5 trillion [...]
Today, the wealthy depict inequality in glowing colors as a byproduct of economies pulling ahead, “creating wealth” by innovations that add to prosperity. This view is unprecedented in history. [...]
A US federal judge authorized the seizure of Citgo Petroleum Corp., the subsidiary of Venezuelan state oil company PDVSA, to satisfy a debt of the Venezuelan government, reports the Wall Street [...]
By almost every measure, the U.S. economy is booming. But a look behind the headlines of roaring job growth and consumer spending reveals how the boom continues in large part by the poorer half [...]
As May gives way to June, the last college grad ceremonies are wrapping up and the last parties are coming to a close. Now the job hunt for recent grads begins in earnest — with the looming [...]
Capitalism collapsed in 2008, just as communism had collapsed in 1991 — the system we have now is something else
This is an argument Varoufakis has made many times, including in his 2011 book [...]
The burden weighing like a nightmare, to coin a phrase, on 44 million indebted current and former students will haunt these people for a good portion of their lives. The average student debtor [...]
In early January 2018, capitalists across the globe were celebrating the fact that the Dow Jones had rallied by 45% since the election of Donald Trump. Likewise, brokers were beaming in Sandton [...]
