Fabius Maximus Wed 2010-08-25 09:31 EDT

The face of America's decline

Fabius Maximus

...Mark Hurd, until recently CEO of HP. See the face of America's economic decline...from ``The Real Reason for Ousting H.P.'s Chief``, Joe Nocera, New York Times: [according to] Charles House, a former longtime H.P. engineer: The way H.P. made its numbers...was not just cutting any old costs, but by ``chopping R.&D.,'' which had always been sacred at H.P. The research and development budget used to be 9% of revenue, Mr. House told me; now it was closer to 2%. ``In the personal computer group, it is 0.7%''...Here we see America's formula for decline... 1. Fantastic pay for leaders 2. Stagnant pay for employees 3. Cutting jobs (efficiencies, forcing harder work, moving off-shore) 4. Slash investments in the future (capex, training, R&D)...

America s decline; Fabius Maximus; Faces.

Sat 2010-07-24 16:14 EDT

Krugman versus Ferguson: Round Two -- Telegraph Blogs

Jeremy Warner

Not since Ken Rogoff's famous attack on Joe Stiglitz has the dismal science of economics provoked such pompous, self-important, personalised squabbling. Professors Paul Krugman and Niall Ferguson, of course, have form; they've been at it on and off for nearly a year now over the efficacy of deficit spending in fighting the downturn, and today they return to the fray...

Krugman versus Ferguson; Telegraph Blogs.

Joe Bageant Sun 2010-01-31 11:57 EST

Raising up dead horses

bageant

The national money shamans have danced around the carcass of our dead horse economy, chanted the recovery chant and burned fiat currency like Indian sage, enshrouding the carcass in the sacred smoke of burning cash. And indeed, they have managed to prop up the carcass to appear life-like from a distance, if you squint through the smoke just right.

dead horses; Joe Bageant; raised.

Wed 2009-12-16 12:38 EST

TrimTabs: The Government Is Grossly Miscalculating Employment

Joe Weisenthal

(Unemployment, Jobs) Something's fishy in the government's rosy jobs data, says the fellow who always says that.

government; Grossly Miscalculating Employment; Trimtabs.

Fri 2009-10-23 08:55 EDT

Is Goldman Sachs Evil? Or Just Too Good? -- New York Magazine (2009-07-26)

Joe Hagan

(Goldman Sachs, Financial Times, The Wall Street Journal, Rolling Stone, John Rogers, John Whitehead, AIG, Neil Barofsky, Troubled Asset Relief Program, Morgan Stanley, Hank Paulson, Lloyd Blankfein, John Thain, Lehman Brothers, Standard & Poor's, Tim Geithner, JPMorgan Chase, Jon Winkelried, David Solomon, Richard Friedman, Jamie Dimon, Robert Rubin, Dan Jester, Eric Dinallo, Hank Greenberg, Edward C. Forst, Neel Kashkari, Edward Liddy, Stephen Friedman, Sidney Weinberg, TARP, Joseph --Stiglitz, Lucas van Praag, Frank Suozzo, Mike Morgan, Matt Taibbi, Edith Cooper, Byron Trott, Warren Buffett, Barney Frank, John Thornton, Michael Lewis, Larry Summers, Barack Obama, Rahm Emanuel, Robert Hormats, Eliot Spitzer) Inside Goldman Sachs, America's most successful, cynical, envied, despised, and (in its view, anyway) misunderstood engine of capitalism. [2009-07-26]

2009-07-26; Goldman Sachs evil; good; just; New York magazine.

Jesse's Café Américain Tue 2009-10-13 20:19 EDT

Stiglitz: The Banks Must Be Restrained, The Financial System Must Be Reformed

Jesse

Stiglitz characterizes the reforms being put forward by the US Congress as completely wrong, and harmful...compare what Joe Stiglitz is saying with the ponderous mendacity of Larry Summers, and you may better understand why Obama's policies are doomed to failure.

bank; Financial System; Jesse's Café Américain; reform; Restrain; Stiglitz.

Jesse's Café Américain Fri 2009-09-04 18:58 EDT

Stiglitz on the Financial Crisis

Jesse

Joe Stiglitz describes the current financial crisis and prospective recovery quite well, and the conclusions he draws are remarkably similar to our own which is gratifying. It's good to hear these things from a distinguished Nobel laureate, and not just from your humble Propriétaire, while puttering over his daily bread. Bloomberg Stiglitz Says U.S. Economic Recovery May Not Be `Sustainable' By Michael McKee Sept. 4 (Bloomberg) -- The U.S. economy faces a ``significant chance'' of contracting again after emerging from its worst recession since the 1930s, Nobel Prize-winning economist Joseph Stiglitz said. ``It's not clear that the U.S. is recovering in a sustainable way,'' Stiglitz, a Columbia University professor, told reporters yesterday in New York.

Financial Crisis; Jesse's Café Américain; Stiglitz.

zero hedge Thu 2009-09-03 09:59 EDT

Deep Thoughts From Leucadia

With Leucadia coming boldly from behind the shadows, where Ian Cumming and Joe Steinberg have always enjoyed operating, and joining Buffett in a deal over Capmark's loan-servicing and mortgage business, it makes sense to introduce readers with some of the very original thinking of the Leucadia founders (and very close friends of the mellifluously named Dick Handler). We present their most recent annual investor letter, which frequently is cited as among the best hedge fund (even though they don't like to be seen as one) strategy reading material. downloaded pdf.

Deep Thought; Leucadia; Zero Hedge.

zero hedge Thu 2009-09-03 09:59 EDT

Deep Thoughts From Leucadia

With Leucadia coming boldly from behind the shadows, where Ian Cumming and Joe Steinberg have always enjoyed operating, and joining Buffett in a deal over Capmark's loan-servicing and mortgage business, it makes sense to introduce readers with some of the very original thinking of the Leucadia founders (and very close friends of the mellifluously named Dick Handler). We present their most recent annual investor letter, which frequently is cited as among the best hedge fund (even though they don't like to be seen as one) strategy reading material. downloaded pdf.

Deep Thought; Leucadia; Zero Hedge.

Tue 2009-02-24 00:00 EST

Jesse's Café Américain: A Modest Proposal from Joe Stiglitz

Jesse's Café Américain: A Modest Proposal from Joseph Stiglitz ``allow every distressed bank to go bankrupt and set up a fresh banking system under temporary state control rather than cripple the country by propping up a corrupt edifice''

Jesse's Café Américain; Joe Stiglitz; modest proposal.

Tue 2009-02-24 00:00 EST

AlterNet: Only in America Could Misery Be Turned Into a Commodity

by Joe Bageant

AlterNet; America; Commodities; misery; turns.

Thu 2009-01-15 00:00 EST

Jesse's Café Américain: Five Critical Decisions Leading to Our Financial Crisis: Joe Stiglitz Presents His Analysis

Jesse's Café Américain: Five Critical Decisions Leading to Our Financial Crisis: Joe Stiglitz Presents His Analysis; Joseph E. Stiglitz

Analysis; Critical Decisions Leading; Financial Crisis; Jesse's Café Américain; Joe Stiglitz Presents.

Sun 2008-11-23 00:00 EST

Joe Bageant: Sarah Palin is the Future of Conservatism

by Anonymous Political Consultant John Brown; ``In a system, which is entering a period of semi-permanent crisis, to plant oneself or one's party in its political center is to make yourself responsible for a political system which is forever failing, losing legitimacy and eventually its right to rule. In the long run, the future will belong to whichever political force flies the boldest flags, stands credibly far enough from those who will be held accountable for our troubles, and curses the loudest at the coming darkness.''

Conservatism; future; Joe Bageant; Sarah Palin.

Sun 2008-10-26 00:00 EDT

Joe Bageant: Moving to the Center of Elite Consensus

by "the masked political consultant"; ``what "Moving to the Center," means is: moving towards power and money''; ``What voters are expected to believe is that after a 30-year class war against the bottom 90% of income earners, the source of their troubles are black rappers and inner city fathers and not criminality on Wall Street or a corrupt political system.''; 2008-08-27

center; elite consensus; Joe Bageant; move.

Sun 2008-10-26 00:00 EDT

Joe Bageant: The Bailout in Plain English

``We will pay because the only language we have to describe our world is that of our oppressors because we have been taught to think in Wall Speak.''

Bailout; Joe Bageant; Plain English.

Tue 2008-10-07 00:00 EDT

rrrojer.net >> Despite Everything, I Still Love America

Joe Bageant; Matt Taibbi; Sarah Palin; Camille Paglia; Elaine Meinel Supkis; James Kunstler

Love America; net; rrrojer.

Tue 2008-09-09 00:00 EDT

Joe Bageant: Why Rednecks May Rule the World

``We all understand that there is a political class which dominates in America, and that Sarah Palin for damned sure is not one of them. And the more she is attacked by liberal Democratic elements (translation: elite highly-educated big city people) the more America's working mooks will come to her defence.''

Joe Bageant; rednecks; rules; world.

Thu 2008-04-10 00:00 EDT

Investment Banks' Riskiest Assets Rise

by Joe Bel Bruno (AP); Goldman Level 3 assets rising

investment banks; Riskiest Assets Rise.

Mon 2007-08-27 00:00 EDT

Joe Bageant: The Simulacran Republic

Jerry Mander; "we are in an age of corporate dominion just as we were once in an age of domination by royal families, kings and warlords"

Joe Bageant; Simulacran Republic.

Mon 2007-07-16 00:00 EDT

Joe Bageant: Poor, White and Pissed

A Guide to the White Trash Planet for Urban Liberals; class in America; 2005-02-18

Joe Bageant; piss; Poor; White.

Tue 2006-11-28 00:00 EST

Washington Post

Science a la Joe Camel, by Laurie David; National Science Teacher Association declines "An Inconvenient Truth" to protect oil industry funding

Washington Post.