Hearing turnout shows wide support for Green New Deal housing legislation in D.C. / by Jamal Rich

Signs hang from the Meridian Heights apartment building in Northwest Washington on May 18, 2020. While the pandemic-caused economic crisis made the affordability problem in D.C. apparent, the issue of housing goes far beyond short-term COVID impacts. | Caroline Brehman / CQ Roll Call via AP WASHINGTON— If a new proposal is enacted, D.C. couldContinue reading “Hearing turnout shows wide support for Green New Deal housing legislation in D.C. / by Jamal Rich”

Beating around the bush: polycrisis, overlapping emergencies, and capitalism / by Güney Isikara

Photo: Jernej Furman Originally published in Developing Economics on November 22, 2022 It is in vogue nowadays to describe the multifaceted and intertwined crises of capitalism without referring to capitalism itself. Obscure jargon of ‘overlapping emergencies’ and ‘polycrisis’ are brought up to describe the complexity of the situation, and they serve, with or without intention,Continue reading “Beating around the bush: polycrisis, overlapping emergencies, and capitalism / by Güney Isikara”

Media narratives shield landlords from a crisis of their own making / by FAIR

The New York Times (9/27/22) asks readers to feel sorry for this man who owns 11 apartments. Originally Published in Fairness & Accuracy in Reporting (FAIR) on October 21, 2022 As landlords continue their relentless pursuit of profits, and politicians allow pandemic-era eviction moratoriums to expire, the human toll of a fundamentally brutal housing systemContinue reading “Media narratives shield landlords from a crisis of their own making / by FAIR”

Capitalism’s senility and socialism’s vigor are increasingly apparent to world / by Global Times

Photo: VCG Editor’s Note: For the Chinese people, the past decade has been epic and inspirational. The country, under the leadership of the CPC Central Committee with Comrade Xi Jinping at the core, has made great endeavors in boosting its economy, deepening reforms, improving the rights of its people and acting as a responsible powerContinue reading “Capitalism’s senility and socialism’s vigor are increasingly apparent to world / by Global Times”

Student Loan Debt Is an American Malignancy Born of Ronald Reagan / by Thom Hartmann

Former President Ronald Reagan addressing the audience at the White House News Photographers Association dinner on May 18, 1983. (Photo: Bettmann/Contributor/via Getty images) Originally published in Common Dreams, https://www.commondreams.org/ Forgiving student debt is not a slap at anybody; it’s righting a moral wrong inflicted on millions by Reagan and his morbidly rich Republican buddies. PresidentContinue reading “Student Loan Debt Is an American Malignancy Born of Ronald Reagan / by Thom Hartmann”

Austerity Is Causing America to Rot / by Doug Henwood

A major bridge in Pittsburgh collapsed just hours before President Joe Biden was scheduled to visit the city to tout his infrastructure bill, January 28, 2022. (Justin Merriman / Bloomberg via Getty Images) If it seems like nothing works anymore in the US, you’re not imagining things. Record-low public investment and declining private investment haveContinue reading “Austerity Is Causing America to Rot / by Doug Henwood”

The Indian economy since Independence / by Prabhat Patnaik

Indian Farmers – Bacbone of Economy | Photo credit: IJR The post-colonial state in India had two primary tasks before it: one was to overcome the hegemony of metropolitan capital, so that a development strategy in relative autonomy from imperialism could be pursued; the second was to attack landlordism both to free the agrarian populationContinue reading “The Indian economy since Independence / by Prabhat Patnaik”

The class dynamics of the Fed’s recession program / by Nick Beams

Originally published: World Socialist Web Site (WSWS) on July 30, 2022 On Thursday, the Commerce Department reported that the U.S. economy shrank for the second quarter in a row, bringing it into a “technical recession.” The economic contraction is being accompanied by a series of layoffs that threatens to become a torrent as the economyContinue reading “The class dynamics of the Fed’s recession program / by Nick Beams”

Is China headed for a crash? / by Michael Roberts

Michael Roberts on the latest batch of critiques on China’s economic progress Once again, Western ‘experts’ are predicting a financial crash in China. “China is flailing,” says one commentator; another says “a debt bomb is about to explode.” These would-be Cassandras reckon China’s demise will be driven by the bursting of the property bubble, excessive debt andContinue reading “Is China headed for a crash? / by Michael Roberts”

Purchasing power of workers’ wages take biggest tumble in 40 years / by Masao Suzuki

Image credit: People’s World Originally published in FightBack! News, July 15, 2022 San José, CA – Real earnings, or workers’ wages after adjusting for inflation, had their biggest drop in 40 years last month, as prices continued to rise faster than paychecks. Real average weekly earnings, which best reflect workers’ paychecks after adjusting for changesContinue reading “Purchasing power of workers’ wages take biggest tumble in 40 years / by Masao Suzuki”