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By Tim Price, originally published on Next New Deal

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Telecom's Big Players Hold Back the Future (NYT)

David Carr profiles Roosevelt Institute Fellow Susan Crawford and explores her crusade against the telecom monopolies that offer high fees instead of high speeds. Every time you wait for a video to buffer, you're experiencing the magic of the market at work.

Sheila Bair: Dodd-Frank really did end taxpayer bailouts (WaPo)

Roosevelt Institute Fellow Mike Konczal talks to the former director of the FDIC about why skeptics are wrong to doubt the agency's commitment to winding down failed banks and why it's important to raise leverage requirements so it doesn't have to prove it.

Obama Urged to Make Economy a Bigger, Bolder Topic (AP)

Jim Kuhnhenn reports that with the CBO projecting a lower deficit and the GOP scrounging for scandals in the couch cushions, Obama advisers and critics are asking the president to change the conversation by laying out a real second-term economic agenda.

The 1 Percent Are Only Half the Problem (NYT)

Timothy Noah argues that while runaway wealth at the top contributes to rising inequality in the U.S., there's also the growing educational divide and resulting skills-based gap. But if the left and right discuss both problems, they risk an agreement breaking out.

Boom or Bubble? (New Yorker)

James Surowiecki has good news (1) and bad news (2) for analysts who think stock prices are overinflated because GDP isn't keeping up with corporate profits: (1) corporate profits are only barely connected to the real American economy these days, and (2) see (1).

Global Capital and the Nation State (Robert Reich)

Reich notes that big corporations are hiding their money from tax collectors while extorting sweetheart deals from national and local governments, but right-wing nationalist parties are convincing more and more voters that cooperation is the new exploitation.

Food Stamps Get Licked by Cuts (Prospect)

Monica Potts writes that the House and Senate farm bills would make food stamp funding less generous and kick millions off the rolls even as more Americans are going hungry. In other words, let them eat cake, just as long as they're paying for it out of pocket.

This Week in Poverty: Fighting Poverty Through Wall Street Accountability (The Nation)

Organizer and activist Stephen Lerner tells Greg Kaufmann that one of the challenges in fighting poverty is that there are so many different root causes, but one advantage of focusing on Wall Street is that behind most of these big problems there's a big bank.


Originally posted to Daily Kos Economics on Mon May 20, 2013 at 06:56 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  was listening, against my will, to NPR the other (1+ / 0-)
    Recommended by:
    judyms9

    day and they were talking about corporate profits and government debt. and all I could think during the entire conversation was "what does one really have to do with the other?"

    I mean other than the fact that we could be taxing all those record corporate profits to generate income to pay down the gov't debt, I don't see how they are linked.

    Yet, there kept being this discussion about government debt and how that "crisis" was a problem for businesses, even while those very businesses are profiting and stocks are skyrocketing.

    What am I missing? Corporations are not part of the government. Many of them are supra-national. I can see corporations skirting their national responsibility to contribute to government, but I don't see how the government's debt level has anything to do with how well corporations might do.

    •  Corporations are the government. They worry (0+ / 0-)

      about US debt because it might ultimately mean reductions in the taxpayer subsidies that so many corporations and contractors get so that owners and shareholders can be welfare queens who drive luxury cars.  Those profits are often indirect gifts from us.  The thank-you/f-you we get from them is that they send their profits offshore and avoid taxes.

      Building a better America with activism, cooperation, ingenuity and snacks.

      by judyms9 on Tue May 21, 2013 at 04:35:09 AM PDT

      [ Parent ]

  •  According to speedtest.net, the U.S. ranks #33 (0+ / 0-)

    ..in internet speed, and just 40% as fast as Hong Kong.

    http://www.netindex.com/...

  •  Timothy Noah's skills-based income gap (0+ / 0-)

    This jazz is really dubious: "Timothy Noah argues that while runaway wealth at the top contributes to rising inequality in the U.S., there's also the growing educational divide and resulting skills-based gap."

    Krugman's made the point all along that the current unemployment problems show no signs of being "structural": http://krugman.blogs.nytimes.com/...

    And Brad Delong points out that liberals actually do care about education: http://delong.typepad.com/...

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