ECONOMY

Demonstrations Planned Against Offshore Oil Leases in New Orleans

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EDITOR’S NOTE – For info about a free roundtrip bus on Saturday from Mobile to this demonstration go to the Facebook event page for Gulf Coast Interdependence Day. You can sign up as a volunteer and RSVP to attend and find out details about the bus and other matters. The free bus will leave from…

The Case for a Tax on Wall Street Trades

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By Robert Reich – One of Bernie Sanders’s most important proposals didn’t receive enough attention and should become a law even without a president Sanders. Hillary Clinton should adopt it for her campaign. It’s a tax on financial transactions. Putting a small tax on financial transactions would: 1. Reduce incentives for high speed trading, insider…

Trump Knocks One Out of the Park in Cleveland

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It was a doozy of a speech, full of iffy facts and false promises. But they loved it… By Glynn Wilson – While many of my liberal and progressive Democrat friends say on Facebook they could not watch Donald Trump’s acceptance speech at the Republican convention Thursday night, or if they did, they called it…

Trump Could Be the Next Herbert Hoover

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By John L. Micek – One of them is a free trade-wary millionaire and political neophyte who locked up the Republican presidential nomination with promises to make America great and get the economy firing on all cylinders. The other is Donald Trump. As he’s insulted, ranted and bullied his way through the 2016 primary season,…

How to Reverse the Widening Wealth Gap in America

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By Robert Reich – Wealth inequality is even more of a problem than income inequality. That’s because you have to have enough savings from income to begin to accumulate wealth – buying a house or investing in stocks and bonds, or saving up to send a child to college. But many Americans have almost no…

Bernie’s Proposals Would Spur Economic Growth

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By Robert Reich – A few days ago, Neel Kashkari – now president of the Federal Reserve Bank in Minneapolis, who was the senior Treasury Department official in the George W. Bush and Obama administrations helping to save the big Wall Street banks – said “I believe the biggest banks are still too big to…

The Most Pragmatic Way to Fix American Democracy

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By Robert Reich – The Democratic contest has repeatedly been characterized as a choice between Hillary Clinton’s “pragmatism” and Bernie Sanders’s “idealism” – with the not-so-subtle message that realists choose pragmatism over idealism. But this way of framing the choice ignores the biggest reality of all: the unprecedented, and increasing, concentration of income, wealth and…

State Sponsor of Terrorism Iran Orders 114 Planes From Airbus

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Will they build them in Mobile? How will state and local officials and the local media respond? – By Glynn Wilson – MOBILE, Ala. — When Alabama officials celebrated the news that Airbus would open a plant to build planes and provide jobs here, little did they know one of the biggest customers would turn…

The U.S. Could Learn From Vietnam’s ‘One For All’ Not ‘All For One’ Philosophy

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Jim Rhodes – Income inequality, raising the minimum wage, an unfair tax structure, gender based wages, corporate outsourcing to avoid taxes and adequately compensating workers has provided Bernie Sanders with issues that resonate with the working poor, students, veterans, and a cross section of Americans excluded by the corporate elite that now control Washington. Mainstream…

‘The Big Short’ and Bernie’s Plan to Bust Up Wall Street

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By Robert Reich – If you haven’t yet seen “The Big Short” – directed and co-written by Adam McKay, based on the non-fiction prize-winning book by Michael Lewis about the housing and credit bubble that triggered the Great Recession — I recommend you do so. Not only is the movie an enjoyable (if that’s the…

The Economy in 2016: On the Edge of Recession

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By Robert Reich – Economic forecasters exist to make astrologers look good, but I’ll hazard a guess. I expect the U.S. economy to sputter in 2016. That’s because the economy faces a deep structural problem: not enough demand for all the goods and services it’s capable of producing. American consumers account for almost 70 percent…

At Stake in 2016: Ending the Vicious Cycle of Wealth and Power

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By Robert Reich – What’s at stake this election year? Let me put as directly as I can. America has succumbed to a vicious cycle in which great wealth translates into political power, which generates even more wealth, and even more power. This spiral is most apparent is declining tax rates on corporations and on…

Wind Power Continues Steady Growth Across the U.S.

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By Jeff Brady – The U.S. wind power industry is celebrating after reaching a new milestone in November: 70 gigawatts (GW) of generating capacity. “That’s enough to power about 19 million homes,” says Michael Goggin, senior director of research at the American Wind Energy Association (AWEA). There are more than 50,000 wind turbines operating across…

The Revolt of the Anxious Class

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By Robert Reich – The great American middle class has become an anxious class – and it’s in revolt. Before I explain how that revolt is playing out, you need to understand the sources of the anxiety. Start with the fact that the middle class is shrinking, according to a new Pew survey. The odds…

Why American Workers Hate Their Jobs and What To Do About It

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By Glynn Wilson – MOBILE, Ala. – A fog rolled through the historic Oakleigh Garden District this morning as I opened my eyes, got out of bed, started the coffee and cranked up the Internet on the Mac. We have a team together and will be meeting with lawyers and accountants today to begin finalizing…

The Sharing Economy is Harming Workers

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By Robert Reich – In this holiday season it’s especially appropriate to acknowledge how many Americans don’t have steady work. The so-called “share economy” includes independent contractors, temporary workers, the self-employed, part-timers, freelancers, and free agents. Most file 1099s rather than W2s, for tax purposes. It’s estimated that in five years over 40 percent of…

Media Controversy Rages in Mobile Alabama Over Oil Storage Tanks

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By Glynn Wilson – MOBIlE, Ala. – While the national news is rife with stories about the death of the Keystone XL Pipeline out west, the ongoing climate talks in Paris and the low price of oil internationally, a local petroleum industry front group and the politicians and media they are trying to buy seem…

Hillary, Bernie, and the Banks

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By Robert Reich – Giant Wall Street banks continue to threaten the wellbeing of millions of Americans, but what to do? Bernie Sanders says break them up and resurrect the Glass-Steagall Act that once separated investment from commercial banking. Hillary Clinton says charge them a bit more and oversee them more carefully. Most Republicans say…