Alternative Visions – US Stock Bubble-Causes and Consequences + Italy Banks – 12.09

Jack focuses on the bubble growing in US stock markets, as money capital surges out of bonds and from Europe and emerging markets into US stocks. All US markets are at record levels, with the DOW having tripled since 2009 in value. Jack discusses the various causes and origins of the current bubble, including the global rotation from bonds, anticipated Trump infrastructure spending and massive corporate tax cuts, multi-industry deregulations coming, and devaluing foreign currencies. The recent Saez report on income inequality trends is reviewed in contrast. Why capitalists are switching from monetary, central bank policy now to fiscal policy to continue massive gains for the 1%. Other negative data for the US is reviewed, including productivity trends and public debt. The show concludes with a discussion of the recent Italian referendum and Italian banks and China’s pending currency devaluation and bank problems.

Ellen Brown – “We’ll Look at Everything”: More Reasons Trump’s $1 Trillion Infrastructure Plan Is Terrible

To stimulate the economy, create new jobs and generate new GDP requires an injection of new money. Borrowing from the bond markets or off-balance-sheet in public/private partnerships won’t do it. If Congress won’t issue money directly, it should borrow from banks, which create money on their books when they make loans. The Trump agenda, it seems, is not set in …

Richard Eskow – Inequality’s Getting Worse. How Do We End This?

On July 1, at the start of the Independence Day weekend, we learned that income inequality in this country became even worse last year. Economic inequality produces scars that last a lifetime – and even longer. That’s one reason why President Obama said in 2013 that “increasing inequality … challenges the very essence of who we are as a people.” Well, that …

Nick Hanauer – Confronting the Parasite Economy

There are two types of businesses in America today: those that pay their workers a living wage—the real economy—and those that don’t—the parasite economy. And all of us who live and work in the real economy should be royally pissed at the way the parasite economy is sucking us dry. Here in the real economy, we solve the problems, build the things, and pay …