economy

Obama - Who Are You

The Real Qustion IS - Who Are You Obama?

Mortgage crisis and NC Banks

One thing to wonder in the unraveling of the mortgage crisis story is how this will effect North Carolina, a state which has a huge banking industry due to its unique laws allowing banks to avoid taxes by plowing profits into local government bonds.

This is an analysis left to much smarter people than me, but I'm wondering how this will play out. Any economists out there with some ideas of what we'll see?

On Rethinking The Corporation, Or, Incentivizing Decency: Can It Be Done?

In which we take up a discussion Anglico and I had some time back.

Reduced Circumstances

I've been having some really dark thoughts about the approaching apocalypse. Some of these thoughts are in fact so dark as to scare me. Shall I tell you one?

The first big conclusion I came to when thinking this through is that most of the men will be useless and in the way. Hell, too many are now. And when you get right down to it, they're responsible for the situation we're in, anyway.

Women are our hope. Fortunately, that includes me 'cause, by and large, I do what women tell me and don't expect that to change.

Tagged:

Blue Yodel No. 171

Middle Class America is Hurting

Cross posted (stolen) from Progressive Pulse

A new report from the Center for Economic Policy Research indicates that working and middle class families are continuing to hurt by the economy. This is the result of Republican efforts to serve the extreme rich at the expense of ordinary Americans.

The new report, "The Good, the Bad, and the Ugly: Job Quality in the United States over the Three Most Recent Business Cycles" finds that

The US economy has created fewer good jobs in the 2000's than was the case over comparable periods in the 1980's and 1990's. The report analyzed annual data from the March Current Population Survey for the years 1979 through 2006 and shows that while the current business cycle has seen an increase in the share of jobs that pay at least $17 an hour, this gain has been more than offset by a decrease in the share of jobs that offer employer-provided health insurance (down 3.1 percent points) and pension coverage (down 4.9 percentage points).

Republicans will try to tell you that the American economy is not in trouble. And indeed, multinational corporations and the extreme rich aren't hurting a bit. But for the average American it's a different story . . .

Jerry wanted to know what y'all think of this . . .

AN ACT to appropriate funds to the e‑nc authority to increase the availability of internet connectivity in underserved areas of the state through incentive grants, to provide additional funding for general operations, to expand the funding for the e‑nc business and technology telecenters program, and to provide incentives to e‑communities, local e‑government utilization program participants, and e‑commerce initiatives.

Sue Myrick's New Bank - or "Pay Day Don't Always Come on Friday"

Rep Sue Myrick (R-NC) decided to pull her account from Bank of America since BOA's new credit card was illegal immigrant friendly. In hopes of scoring political points, Myrick said she would move her funds to Wachovia Bank, based out of Charlotte NC. Patriotic, right? Not so fast Sue - your new bank is sending thousands of NC jobs to India. This is not likely to win the hearts and minds of your constituents who wind up jobless. The jobless still get to vote, and so do their friends.

WACHOVIA BANK TO OFFSHORE THOUSANDS OF NC JOBS

WACHOVIA BANK CORP - Riches for CEO, Unemployment for workers -

Wachovia CEO gets $18 Million March 10, 2007. CHARLOTTE - The chairman and chief executive of Wachovia Corp., Ken Thompson, received compensation that the company valued at nearly $18.4 million in 2006, according to a regulatory filing yesterday.
http://www.journalnow.com/servlet/Satellite?pagename=WSJ%2FMGArticle%2FWSJ_BasicArticle&c=MGArticle&cid=1173350135956&path=!business&s=1037645507703

AND, SOON TO OUTSOURCE NORTH CAROLINA PROCESSING JOBS TO INDIA

Businessweek JANUARY 30, 2006

Wachovia will have outsourced 500 to 1,000 jobs, with plans to move an additional 3,000 or so by the end of 2007. ..Most, but not all, of those jobs are going to India....

Fantasy Economy


Where up is down, good is bad, and bad is good. Where the dow is irrelevant and huge deficits match huge corporate profits. Where billions of dollars disappear in a haze of war profiteers wet dreams and another generation will deal with broken bodies and unsteady minds.

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