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Jack Rasmus: The Real ‘Real’ GDP

The US economy has been rapidly replacing real jobs in goods producing industries with service jobs for decades now

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Jack Rasmus: A May Day 2014 Lament for American Labor

Today, May 1, 2014, is International Labor Day. It is worth summing up how well American workers—and their unions—have fared over the past year

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Jack Rasmus: The Emerging 3rd Phase of Global Economic Crisis?

Three significant global economic trends have begun to intensify and converge in recent months

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Jack Rasmus: The Great Corporate Tax Shift, Part 3

In parts 1 and 2 of this series on how US corporations have succeeded in avoiding paying taxes, the focus has been on how corporations have avoided paying taxes at the US federal level and on their corporate income earned abroad. The US federal corporate tax has been in freefall for decades. Elsewhere globally, there Read more…

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Jack Rasmus: The Great Corporate Tax Shift: Part 1

The great corporate myth-making machine has been hard at work of late, attempting to create the false impression that US corporations are increasingly uncompetitive with their foreign rivals due to the fact they pay much higher corporate taxes in the US and abroad than their capitalist counterparts. But that is one of the great myths Read more…

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Jack Rasmus: The Contradictions of Global Fiscal-Monetary Policy

“QEs, massive liquidity injections by central banks, token fiscal stimulus policies followed soon by austerity fiscal stimulus withdrawals represent the recovery policy ‘mix’ for the US since 2008.  In similar form, albeit with different emphases, the same monetary and fiscal policies have been adopted by other main capitalist sectors of the global economy. Those economies, Read more…

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Jack Rasmus: The Coming Debt Ceiling Settlement: The Well-Orchestrated Dance 2.0

History repeats itself, but always in combinations of past events. What today’s debt-ceiling/government shutdown dual crisis represents is a telescoping, within a time period of two months, of similar events that rolled out over an extended two year period in 2011-2012. What took two years to conclude previously, between 2011-2012, in a prior debt ceiling Read more…

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Jack Rasmus: On Janet Yellen as Federal Reserve Chair

On October 9, 2013, President Obama nominated Janet Yellen, current vice-chair of the Federal Reserve, as the new Fed chair, to replace Ben Bernanke expected to retire at year’s end. Obama’s appointment, subject to Senate confirmation that is likely, comes after a general consensus in recent weeks that Yellen would be Obama’s choice. That followed Read more…

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Jack Rasmus: Will the US Government Shutdown Impact Markets?

As the government shutdown, the stock market largely shrugged. Yesterday the Dow Jones actually rose 62 points suggesting investors don't see the current shutdown as a long-term problem. Here with more analysis is Jack Rasmus. He's a Political economist as well as the author of “Obama’s Economy: Recovery for the Few” Rob Sachs, Host of Read more…

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Jack Rasmus: From ‘Taper Tantrum’ & ‘Token Taper’ to ‘Taper Tomorrow’: Fed Policy in Crisis

This past week the US central bank, the Federal Reserve (Fed), opted not to change its current 3rd Quantitative Easing (QE) policy providing $85 billion a month in bond purchases from bankers and investors. The Fed’s QE3 policy has been in effect for about a year, injecting in excess of $1 trillion in subsidized money Read more…

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