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By Tim Price, originally published on Next New Deal

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The April Fool's economy (WaPo)

Ylan Q. Mui notes that while the economy seems to have picked up steam in the last few months, we've seen signs of strong early-year growth before only to be disappointed later. Fool me once, shame on you. Fool me twice, let's just wait for the jobs report.

Recession Redux (TNR)

John Judis is pessimistic given that we've opted not to pursue the New Deal-era approach to reform and investment that built a stronger, more stable economy, but are instead repeating the mistakes that led to the recession to see if we can really nail it this time.

Why the Euro is Doomed in 4 Steps (The Atlantic)

Matthew O'Brien makes the case that the euro has become as constraining and counterproductive for EU members as the gold standard once was, though at least the latter was based on the sound logic that humans are driven by an intense desire for shinies.

Wages stink at America's most common jobs (CNNMoney)

There's a reason your food server or retail salesperson seems disgruntled, and it's not just because you're asking about gluten-free options or return policies. New BLS data shows that seven of the 10 most common occupations pay less than $30,000 a year.

Guest Workers as Bellwether (Dissent)

Josh Eidelson looks at the abusive conditions to which many guest workers are subject, the effort to organize those workers to fight for change, and why no workers can really take for granted that their supervisors don't want to beat them with a shovel.

Lean in, Dad (NYT)

Catherine Rampell argues that America needs better work-life balance policies to avoid squandering its college-educated female workers, but paid paternity leave is also a must to prevent the assumption that women are a leave of absence waiting to happen.

It's still a lovefest between Wall Street and regulators (Guardian)

Heidi Moore notes that recent copouts in an SEC investigation and the Libor manipulation case show banks are still allowed to get away with "neither admitting nor denying" their crimes, introducing an element of quantum physics into financial regulation.

The People's Bank (Prospect)

Abby Rapoport writes that the populist, state-owned Bank of North Dakota has helped America's Freest State weather financial storms and supported fair lending practices and small banks, so naturally other states are reluctant to imitate the model.

Tim Price is Deputy Editor of Next New Deal. Follow him on Twitter @txprice.

Originally posted to Daily Kos Economics on Tue Apr 02, 2013 at 06:54 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  There is no real recovery (1+ / 0-)
    Recommended by:

    Consider that the Fed is pumping $85 billion of freshly printed money into the economy every month and the only thing it can buy is about 200,000 jobs a month - (each job costs $425,000!!!).

    Basically the money is going to ramp the stock market and to corporate profits ... none of which are sustainable.

    Finally markets are broken. The stock market is a joke (manipulated to the extreme), interest rates no longer serve as a market signal, credit is flowing to cars and students helping to prop up the economy ... but again not sustainable in the long run (there will be big drags in future years).

    If we don't want to really reform the system then at least stop handing money to Wall Street. Just send everyone in the country a check each month for $300. We would get a much bigger bang for the buck.

    There's room at the top they're telling you still But first you must learn how to smile as you kill If you want to be like the folks on the hill

    by taonow on Tue Apr 02, 2013 at 08:14:00 PM PDT

    •  Why do you think markets are broken? (1+ / 0-)
      Recommended by:

      Do you think the system is mistaken it what it's actually intending to accomplish?

      We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

      by Gooserock on Tue Apr 02, 2013 at 08:19:20 PM PDT

      [ Parent ]

      •  I watch them (0+ / 0-)

        1. Interest rates should be the signal used to allocate capital (as we are in a capitalist system). With rates at zero you get massive malinvestment.
        2. There is a total lack of volume in the markets, yet they go up (usually in the overnight hours). The flood of liquidity has to go somewhere and as along as the market can be kept rising, it will keep attracting the liquidity.
        3. High frequency trading has distorted price discovery. It is just a bunch of algorithms dueling with each other. Pretty sick actually when you watch it closely.

        There's room at the top they're telling you still But first you must learn how to smile as you kill If you want to be like the folks on the hill

        by taonow on Tue Apr 02, 2013 at 08:23:42 PM PDT

        [ Parent ]

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