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Author Archive | David Ruccio

GDP - wages

To the victor belong the spoils

The phrase, which was used in the early nineteenth century to describe the the spoils system of appointing government workers, accurately describes the American economy today.* And it’s pretty clear who the victor is, and it’s not the working-class. Instead, a small group at the top have come out as the victor—and that’s been true […]

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Chart of the day 8/7

Chart of the day

The American economy gained 1.8 million jobs last month, even as the coronavirus surged in many parts of the country and newly reintroduced restrictions caused some businesses to close for a second time.

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Initial unemployment claims

Chart of the day

Yesterday morning, the U.S. Department of Labor (pdf) reported that, during the week ending last Saturday, another 1.3 million American workers filed initial claims for unemployment compensation. That’s on top of the 48.7 million workers who were laid off during the preceding fifteen weeks.

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Unemployement

Chart of the day

Yesterday morning, the U.S. Department of Labor reported that, during the week ending last Saturday, another 1.4 million American workers filed initial claims for unemployment compensation.

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National Post Vancouver Riot- Police made mistakes, says author report on 1994 ...

“A riot is the language of the unheard”

More than 50 years ago (on 14 April 1967), Martin Luther King Jr. delivered one of his famous speeches, on “The Other America,” at Stanford University.* King patiently explained to the audience of students and faculty members that, while in his view “riots are socially destructive and self-defeating,” they are “in the final analysis. . […]

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Chart of the day

Chart of the day

A new report from the Institute for Policy Studies, “Billionaire Bonanza 2020: Wealth Windfalls, Tumbling Taxes, and Pandemic Profiteers,” reveals that the wealth of U.S. billionaires is indeed staying at home.

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China syndrome

China syndrome

As Donald Trump and his band of “hacks and grifters” are preparing to prematurely reopen the U.S. economy, they’re also rehearsing the language they’ll use to justify their irresponsible decisions. Here’s how Peter Navarro, the White House trade adviser, is discussing the terms of the reopening: The unfair China trade shock that hit so many […]

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Chart of the day

Chart of the day

Although claims are at record highs, many Americans across the United States have been unable to successfully apply for unemployment insurance because an unprecedented level of claims is overwhelming state labor department websites and jamming up phone lines.

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Capitalism isn't working

Unemployment pandemic

Capitalist crises are neither predictable nor do they stem from a single cause. Instead, at least as I see it, the possibility of a crisis is always there but the causes and triggers are all historical and therefore multiple and varied.

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