Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Monday, June 9, 2014

Look What Happens When You Ruin the Economy

We have not recovered from the financial crisis of the late 2000s because nobody has any money:

U.S. fertility is not recovering from the financial crisis — and demographers aren’t sure why.

The fertility rate fell to a record low 62.9 births per 1,000 women aged 15-44 in 2013, according to the National Center for Health Statistics.

The total number of births, at 3.96 million, inched up by a mere 4,000 from 2012, the first increase since the financial crisis. But the total fertility rate, or TFR, the average number of children a woman would have during her child-bearing years, fell to just 1.86, the lowest rate in 27 years. TFR is considered the best metric of fertility. A TFR of 2.1 represents a stable population, with children replacing parents as they die off.

Demographers expected the fertility rate to fall during recession, as financially strapped families put off childbearing. But what has surprised some demographers is both the depth of the decline and the fact that fertility has continued to drop even over the course of the country's five years of slow but steady recovery. The rate has fallen steadily each year since 2007, when it stood at 2.1 percent.

Wages have not kept up with this soft "recovery" and we still have far too many people who are unemployed. Couple that with the fact that your average job is rapidly becoming a two year temp-to-hire position paying less than what you made before and you have the recipe for a sharp demographic shift. Women would have more children if this were a more secure economy, and it isn't secure enough right now.

The very same people terrified of a foreign invasion of anchor babies have perpetrated this situation by ruining the economy, confiscating the wealth and assets of the Middle Class, and paying CEOs ridiculous amounts of money. Thomas Piketty scared the crap out of them because he was right--we have far too much inequality in America.

Tuesday, April 1, 2014

The Keating Five

Charles Keating was a notorious figure in the late 1980s and early 1990s. He's dead now, and I wonder if everyone got their money back. No?

His name was synonymous with greed and excess. The Eighties were the decade of such things, and Keating was one of the drivers of the bus that went over the cliff when the bill came due.

This, by the way, is bullshit:

The scandal also shook the political world. Five senators who received campaign donations from Keating - McCain, Democrat Alan Cranston of California, Democrat John Glenn of Ohio, Democrat Donald W. Riegel Jr. of Michigan and Democrat Dennis DeConcini of Arizona - were accused of impropriety for appealing to regulators on Keating's behalf in 1987.

Our working media gave him a pass and let him drift off into obscurity. He left a trail of slime through the courts, using lawyers to duck accountability for at least a decade after being exposed as a fraud. The scandal that broke around the so-called "Keating Five" should have ended the corrupt and vainglorious warmongering of one Senator John McCain, but it didn't and he was given the biggest mulligan anyone in politics ever got. He was also given a major pass by the amnesiac media when he ran for President and by an establishment that simply didn't give a shit about accountability anymore.

Wednesday, October 9, 2013

Janet Yellen Needs to Focus on Jobs

This may elicit a deservedly snide 'duh,' but Janet Yellen has to focus on employment issues and see what the Federal Reserve can do to alleviate the stress that joblessness is placing on the economy. I don't know if this had anything to do with picking her over Larry Summers and whether or not she can actually do something about jobs.

It would be enormously helpful if the American people would stop electing Republican Tea Party extremists.Republican obstructionists are supporting efforts to keep people out of work. They really are rooting for America to fail, and they are doing so with deeds not just words.

This President is, apparently, not entitled to a cabinet of people of his own choosing. The Atlantic believes that Yellen will have a tough time getting confirmed. There isn't anyone out there who would sail through the Senate, up to and including whoever was chosen by the Tea Party. Yeah, there's a Ron Paul joke in there, but it is too sad to contemplate.