(Jerri-Lynn Scofield) The WSJ published a comprehensive investigation Friday, How Google Interferes With Its Search Algorithms and Changes Your Results, that provides fodder for ongoing or new antitrust investigations of the company, both in the US, and worldwide:
naked capitalism
The BLS Jobs Report Covering October 2013: Effects of the Shutdown Mostly Hidden But Still Large
Source – Naked Capitalism Yves here. As Hugh said via e-mail: The report is actually two reports fundamentally at odds with each other. The Household data see some of the effects of the government shutdown but their strong negatives are most likely from knock on effects or a larger weakening of the economy. While unemployment was […]
The European Crisis: Lessons from the 1920s, the Gold Standard, and Historical Trilemmas
Source Yves here. This post by Michael Bordo and Howard James finds significant parallels between the 1920s and the economic and policy conflicts facing the Eurozone, which does not speak well for them being resolved tidily. The post is dense at points but it is very much worth your attention. By Michael Bordo, professor of […]
Student Loan Servicers, Like Mortgage Servicers, Failing to Inform Borrowers of Cheaper Payment Modifications
More proof the system is designed to keep you pressed to the wall, never having enough abundance to go around. The more people accept that the system does not work for them, the easier transformation will be as we continue to awaken our sleeping brothers and sisters. – Justin Source We’re well beyond the Presidential […]
Naked Capitalism: Zero Prosecutions of Elite Banksters is Too Many for the Wall Street Journal
Source Yves here. Although Bill Black’s post starts with how the Republicans have linked their attacks on the IRS to a broad-brush effort to depict any and all government oversight as an evil plot to destroy the profitability of upstanding businesses, he includes how the Clinton-Gore “Reinvent Government” initiative set out to cripple the IRS, […]
Naked Capitalism: Why the US Economy Won’t Fully Recover
Source Yves here. It almost seems quaint to think that someone (in reality, large swathes of the investor and orthodox economics community) thinks the US economy will someday bear a passing resemblance to its former bubble-stoked vigor. I agree wholeheartedly with one of van Onselen’s cause for concern, that of low wage growth in the […]
Naked Capitalism: FALSE Financial Recovery – Productivity Rose 7.7% – Workers Have Seen None of It
Source I’ve said this before in other venues, but this really is the chart that explains modern America: It’s the famous wage/productivity chart, showing the cleavage around 1973 and the far greater discrepancy after the 1980s recession. Basically we’ve been living with the consequences of this wage/productivity gap ever since. And I tend to think it explains every […]
Naked Capitalism: US Households Continue to Bleed – There is no Economic Recovery!
Source From Unconventional Economist, who has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs. Originally published at MacroBusiness Two former Census Bureau officials working at Sentier Research have released a new report claiming that median US household income is recovering, but remains 6.5% below its pre-recession level in real (inflation adjusted) terms: After adjusting for […]
Naked Capitalism: A Very Profitable Part Of Banking Goes Totally To Heck
Source By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Cross posted from Testosterone Pit. “We’ve had to recalibrate our business” Refinancing mortgages is a phenomenally profitable and nearly risk-free business for banks, and one of the few growth sectors that were actually spawned by the Fed’s herculean […]
Naked Capitalism: What is Shadow Banking?
Source By Stijn Claessens, Assistant Director in the Research Department of the International Monetary Fund, Professor of International Finance Policy at the University of Amsterdam and Lev Ratnovski, an economist in the Research Department of the IMF. Cross posted from VoxEU There is much confusion about what shadow banking is and why it may create (systemic) risks: […]
“The Media Just Won’t Report on This Crappy Economy,” Such As 80% of US Adults Near Poverty, GDP Funny Business
“The Media Just Won’t Report on This Crappy Economy,” Such As 80% of US Adults Near Poverty, GDP Funny Business Reader Cathryn Mataga complained yesterday in comments about the under-reporting of how bad things are out in the real world where most people live. It’s not hard to find proof of her thesis. I received […]