Truthdig: Drilling Beneath the Headlines

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Tag: Economy

Worker Wages Are Flat, but Since 1978 CEO Pay Has Soared by 937%


New analysis shows how corporate bosses rake in huge salaries and bonuses as inequality continues to soar.

Posted on Jul 20, 2017 READ MORE
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House Budget Blueprint Is Key to Whether Trump’s Tax Agenda Will Succeed


With the president’s bid to overhaul the health care system on hold, Republicans have their orders to press forward on revamping the nation’s tax code.

Posted on Jul 18, 2017 READ MORE

Tobacco Industry Makes Strides in Trump’s Washington


Cigarette companies that supported the president’s campaign are gaining crucial political victories under his administration, even as tobacco use remains the leading preventable cause of death.

Posted on Jul 13, 2017 READ MORE

Economist Richard Wolff’s Take on ‘Conservative,’ ‘Socialist’ and Other Such Terms (Video)

The renowned Marxist professor offers his understanding of the meanings of words commonly used to describe “ways of organizing political life in a community.”

Posted on Jul 12, 2017 WATCH & LISTEN

Noam Chomsky to Chris Hedges: ‘Everywhere You Look, There’s Public Subsidy’ (Video)

In the second part of their recent conversation, the renowned intellectual (left) tells the Truthdig columnist how the banking, fossil fuel and tech sectors profit from taxpayer dollars.

Posted on Jul 11, 2017 WATCH & LISTEN

Profiting Off Pain: Trump Confidant Cashed In on the Housing Crisis


One of the president’s closest friends, Southern California billionaire Thomas J. Barrack (pictured), bought up homes during the Great Recession, bumped up rents and allowed the properties to fall into disrepair.

Posted on Jul 8, 2017 READ MORE

Volvo Will Produce Only Electric and Hybrid Vehicles by 2019


With China and India increasingly dedicated to pushing greener cars, the Asian market may drive the whole industry in that direction much faster than anyone expected.

Posted on Jul 7, 2017 READ MORE

Study Concludes That Climate Change Will Worsen U.S. Poverty


Climate change, left unchecked, is expected to make the U.S. poorer and more unequal. (Pictured: A house in New Orleans destroyed by Hurricane Katrina.)

Posted on Jul 6, 2017 READ MORE

Chris Hedges and Noam Chomsky: How the U.S. Became an Oligarchy That Makes War on the Middle Class

In the first of a two-part conversation, the two intellectuals discuss the shift in the U.S. and U.K. in the late 1970s toward neoliberalism, an ideology that Chomsky (pictured) says claims to increase freedom while actually increasing tyranny.

Posted on Jul 5, 2017 WATCH & LISTEN

Japan Is Writing Off Nearly Half Its National Debt—Without Creating Inflation. We Could, Too.


There is no way the U.S. will ever pay back a $20 trillion federal debt. Maybe the government should sell some of it to our central bank.

Posted on Jun 28, 2017 READ MORE

John Paul DeJoria: Separating the 1 Percent From the 99 Percent Is a ‘Bunch of Bullshit’


A new documentary called “Good Fortune” provides the once-homeless hair care billionaire’s primer on how the superrich can contribute to society and still be superrich.

Posted on Jun 24, 2017 READ MORE

Hundreds of Boeing and Carrier Workers to Lose Their Jobs


The news comes despite President Trump’s numerous vows to fight for American workers at risk of losing their livelihoods because of outsourcing and layoffs.

Posted on Jun 23, 2017 READ MORE

Can a New CEO Save Uber After Travis Kalanick’s Departure?


Some analysts think the ride-service company may not survive unless it changes its business model—and fast.

Posted on Jun 22, 2017 READ MORE

Did Trump Receive Big Tax Refunds After 2005?


Leaked documents show the president paid hefty taxes for 2005, but one analysis suggests that later returns may show much of the payment was refunded to him.

Posted on Jun 19, 2017 READ MORE

Take Heart, Progressives: Theresa May Is Putting a Nail in the Coffin of the U.K. Right Wing


As Bernie Sanders framed it in his congratulatory message to Labour leader Jeremy Corbyn after Thursday’s snap election, the war against “austerity and inequality” is only beginning.

Posted on Jun 12, 2017 READ MORE

Dear Mr. President: Be Careful What You Wish For


Higher interest rates would triple the interest on the federal debt by 2026, would hurt workers and young voters and could bankrupt more than 20 percent of U.S. corporations.

Posted on Jun 12, 2017 READ MORE

Dear President Trump: Breaking Up (Banks) Isn’t Hard to Do


A growing bipartisan alliance wants to restore Glass-Steagall legislation, which ensured that investment banks and commercial banks couldn’t cohabit. But what will the president do?

Posted on Jun 10, 2017 READ MORE

With All Eyes on Comey, GOP Gets Set to Vote on Wall Street Legislation


The CHOICE Act is little more than a paean to American financial institutions and would gut consumer protections, critics argue.

Posted on Jun 8, 2017 READ MORE

Trump Picks Ex-Banker to Regulate Wall Street


Joseph Otting (at right in photo), former president and CEO of OneWest Bank, is tapped to run the Office of the Comptroller of the Currency, which oversees more than 1,000 lenders.

Posted on Jun 6, 2017 READ MORE

Trump’s Budget Benefits the Most Comfortable Americans and Sticks It to the Most Vulnerable


The president’s regressive budget would also roll back civil rights.

Posted on Jun 4, 2017 READ MORE

Is U.S. Climate Policy Killing Capitalism?


The president isn’t responsible for taking the U.S. out of the Paris climate accord—it’s the Koch brothers, Big Oil, Big Gas and Big Coal.

Posted on Jun 3, 2017 READ MORE

Jeremy Corbyn’s Labour Party Is a Beacon in These Blighted Times


The party’s strong campaign in this Thursday’s election—and the leadership under Corbyn—suggest positive developments that range beyond the U.K.’s borders.

Posted on Jun 2, 2017 READ MORE

Trump Ran as an Ally to Business but Snubbed CEOs by Pulling Out of the Paris Accord


The president’s decision prompted two CEOs to leave his business advisory council and scores of others to issue statements of disappointment.

Posted on Jun 2, 2017 READ MORE

Trump Casts Cloud Over Cannabis, but Money Keeps Pouring In


For cannabis financiers, the industry’s growth potential outshines the political risk.

Posted on Jun 1, 2017 READ MORE

Economist Richard Wolff Compares Jeremy Corbyn to Bernie Sanders (Video)

In a discussion about the political turmoil roiling the European Union, the renowned Marxist thinker talks about Europe’s left and the U.K.’s Labour Party leader (shown left; Sanders right).

Posted on Jun 1, 2017 WATCH & LISTEN

Trump’s Promises on Coal Turn to Dust


Candidate Trump’s pledges to the coal industry are withering as the harsh winds of economic reality blow the president’s plans off course.

Posted on May 31, 2017 READ MORE

How Not to Balance the Budget on the Backs of the Poor (Video)

By Robert Reich / RobertReich.org

Donald Trump wants to slash services for the underprivileged to expand the military and give corporations and rich Americans big tax cuts. 

Posted on May 31, 2017 WATCH & LISTEN

Economist Joseph Stiglitz on Trump’s Budget: ‘It Doesn’t Make Any Economic Sense’

The Nobel Prize-winning economist joins Amy Goodman on Democracy Now! to discuss the president’s $4.1 trillion budget, which was unveiled Tuesday.

Posted on May 24, 2017 WATCH & LISTEN

Hit Him Where It Hurts


Can a boycott movement to damage President Trump financially change the political landscape?

Posted on May 24, 2017 READ MORE

If China Can Fund Infrastructure With Its Own Credit, So Can We


While American politicians debate how to finance needed fixes and which fixes to implement, the Chinese have funded massive projects across their country.

Posted on May 21, 2017 READ MORE

Trump Signs ‘Tremendous’ Deals With Saudi Arabia on His First Day Overseas


Included are $110 billion in American arms sales and other agreements that the Trump administration said will create hundreds of thousands of U.S. jobs.

Posted on May 20, 2017 READ MORE

Elizabeth Warren Challenges Steven Mnuchin Over Glass-Steagall Remarks (Video)

The Massachusetts senator slammed the treasury secretary for his confusing statements during a Senate Banking Committee hearing Thursday.

Posted on May 19, 2017 WATCH & LISTEN

Noam Chomsky Looks at How the System Is Rigged to Ensure That Corporations Always Win


The philosopher’s new book, “Requiem for the American Dream: The Ten Principles of Concentration of Wealth and Power,” is a primer in his analysis of the faults of the American political and economic system.

Posted on May 17, 2017 READ MORE

The Shrinking Oil Industry


Many of the oil services companies employed when new fields are developed have been laying off workers, and oil companies have been taking write-downs of their assets.

Posted on May 16, 2017 READ MORE

Senators Speak Out for Net Neutrality


In the past week, 25 senators have signed letters denouncing FCC Chairman Ajit Pai’s plan to scrap rules that allow equal access to internet content. Among them are Maggie Hassan (pictured left) and Maria Cantwell.

Posted on May 13, 2017 READ MORE

Richard Wolff: U.S. Economic Education Gives the Illusion That ‘Everything Is All Right’ (Video)

The renowned Marxian economist condemns American education for purposely keeping people in the dark about how the economic system works and how it threatens them.

Posted on May 11, 2017 WATCH & LISTEN

The American Way of War Is a Budget-Breaker


It’s a reasonable bet that never in history has a society spent more on war and gotten less bang for its copious bucks.

Posted on May 10, 2017 READ MORE

Trumpcare Is a Transfer From the Sick and Poor to the Rich and Healthy


Shame on every one of the 217 Republicans who voted to repeal the Affordable Care Act on Thursday and substitute basically nothing.

Posted on May 7, 2017 READ MORE

Yanis Varoufakis: Basic Income Will Be a Major Part of Any Attempt to Civilize Capitalism (Video)

“Think of basic income as a trust fund for all our children,” the Greek economist said at an acTVism event, “to be financed by dividends from our aggregate capital—which was, after all, created collectively.”

Posted on May 4, 2017 WATCH & LISTEN

Trump Seems to Think Americans Have Forgotten What They Lost in 2008 (Video)

By Robert Reich / RobertReich.org

The president has ordered a rollback of Wall Street regulations, including the Dodd-Frank Act, passed in 2010 to prevent another too-big-to-fail banking crisis.

Posted on May 3, 2017 WATCH & LISTEN

Cut [a cartoon from the Netherlands]









Posted on Apr 27, 2017 ENLARGE

Don’t Fall for Trump’s Corporate Tax Giveaway


The president wants to cut the corporate tax rate from 35 percent to 15 percent in order to “make the United States more competitive.” This is truly dumb, for five reasons.

Posted on Apr 27, 2017 READ MORE

Trump’s Tax Plan Draws Immediate Criticism From Progressives


The plan prompts allegations of conflicts of interest and excessive benefits to the wealthy.

Posted on Apr 26, 2017 READ MORE

Emmanuel Macron and Marine Le Pen Advance to French Election Runoff


Whether France will stay in the European Union or head for a “Frexit” largely comes down to which of the two leading vote-getters will prevail May 7.

Posted on Apr 23, 2017 READ MORE

The Financial Diaries


A new book explores the lives of families dealing with financial uncertainty and volatility.

Posted on Apr 14, 2017 READ MORE

The Menace of Trump and the New Authoritarianism: An Interview With Henry Giroux


The renowned intellectual and social activist analyzes the underlying forces of authoritarianism in the U.S. and Europe and argues the need for resistance.

Posted on Apr 13, 2017 READ MORE

White House Insider Javier Palomarez Is Not the Hispanic Community’s Martin Luther King Jr.


Once an outspoken critic of Donald Trump, the U.S. Hispanic Chamber of Commerce CEO now may be a misguided opportunist in the president’s national diversity coalition.

Posted on Apr 13, 2017 READ MORE

Many Reasons to March Against Tax Injustice


There are two Americas: one that pays taxes for the public good and one that works hard to pay as little tax as possible. It’s clear which one President Trump serves.

Posted on Apr 13, 2017 READ MORE

As French Election Nears, a Bernie Sanders-Style Candidate Rises in the Polls


The threat of proto-fascist Marine Le Pen continuing the trend started by Brexit and Donald Trump’s victory is tempered by the possibility that a socialist—Jean-Luc Melenchon—could prevail.

Posted on Apr 11, 2017 READ MORE

The Truth About Trumponomics (Video)

By Robert Reich / RobertReich.org

Building an economic wall around America is not the way to make its workforce more competitive.

Posted on Apr 11, 2017 WATCH & LISTEN

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