“When you’re telling people they should not eat so that a billionaire can have one more Ferrari or one more apartment in Manhattan, these people start to hide.”
NYT Stands By US’s False Claim to Have ‘Stood By’ During Indonesia Slaughter…Popping the Debt Balloon…WaPo Disguises Owner’s Press Releases as Journalism
October 11, 2017
The argument that “everyone” owns a piece of Puerto Rican debt is gaining steam in the mainstream news media. It’s corporate media’s attempt to spread the pain that the wealthy would feel from debt forgiveness.
October 5, 2017
These policies of government neglect, of private sector-only, and increasing climate disasters, are going to create Hurricane Marias in pockets of the First World, and some people are going to be left behind.
“Even the IMF, in several reports issued over the years, have said themselves that austerity does not help economies rebound from debt crises like these…. The thing is that measures of austerity may have something close to catastrophic effects on the average Puerto Rican.”
Describing Puerto Rico’s debt as $34,000 for every man, woman and child doesn’t match the reality of how Puerto Rico came to be in its present state, or how “shared” the “sacrifice” is set to be as things move forward.
February 28, 2017
It really doesn’t make much difference what Donald Trump and Paul Ryan’s political philosophy is. Contrary to what the New York Times might lead us to believe, this is not a battle of political philosophy, it is a battle over money.
October 26, 2016
“When there’s not enough demand in the economy, the government absolutely has the responsibility to run large deficits, because it has to make up for the shortfall in demand elsewhere.”
Bloomberg only examines the debt side of the ledger. It’s almost impossible to exaggerate how absurd this is.
August 19, 2016
“Nearly everyone who’s being arrested or incarcerated is incurring criminal justice debt. And in many states you can be stripped of your right to vote until you pay off all of your criminal justice debt. So I talk about that essentially as a modern day poll tax.”
August 3, 2015
“Economically, Puerto Rico is almost like a wholly owned subsidiary of the US economy, and various laws inhibit it from making decisions to develop their own economy.”
NPR warns listeners that “the federal government is still adding to its overall debt”–even though the economy could actually benefit from increased deficit spending.
June 30, 2015
A New York Times headline refers to “trillions” of dollars being spent by central banks. In fact, central banks have not spent this money, they have lent this money, mostly by buying government bonds.
June 25, 2014
The New York Times’ David Leonhardt heralded a new study by the centrist Brookings Institution that questions whether the student loan market actually faces a “crisis on the horizon.”
August 13, 2013
The new student loan law lowers rates–and then, almost certainly, raises them in the near future. But hey–at least it’s bipartisan.
April 1, 2013
February 27, 2013
CNN.com had an odd piece of analysis of the Italian election results, arguing that austerity “is necessary by any calculation to actually start moving Italy out of the recession.” That’s not the calculation of Paul Krugman, who for what its worth is a Nobel Prize-winning economist.
January 3, 2012
August 1, 2011
July 15, 2011
November 12, 2010
May 27, 2010
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