Daily Digest

Image by Fringefalcon, Flickr Creative Commons

Daily Digest 9/9 - Crony Capitalist System Is Rigged, How Many Jobs Are Needed To Keep Up With Population Growth?

Sunday, September 9, 2012, 11:31 AM

Economy

Woody Brock: Capitalism is Great, but Our Corrupted, Bastardized, Crony Capitalist System Stinks; It's Rigged (Jaime)

Woody Brock on the state of our capitalism: Under true capitalism, no agent has any bargaining power whatsoever. The notion of 4 investment bankers taking a private plane to Washington to make sure that leverage would be tripled in April 2004 in exchange for some nice payments, is outrageous and scandalous and they all should be in jail. Adam Smith wouldn't roll in his grave; he would gyrate.

How Many Jobs Are Needed to Keep Up with Population Growth? (cmurray)

That's the key, the current terrible conditions the state of employment is in today. One of the reasons the number of jobs to keep up with population growth is so low is due to so many having dropped out of the labor force. If we had more people being counted as needing a job, the number of jobs to keep up with population growth would be much higher.

To explain this, we need to go to BLS school and learn some labor concepts. The employment universe comes from the civilian noninstitutional population. These are people in the United States, aged 16 and over, who aren't in the military, infirmed or locked up somewhere.

Eight Elementary Errors now on Steve Keen’s Debtwatch (Arthur Robey)

The Global Financial Crisis, the extreme inequality of wealth world-wide, the materialism of modern life and the dire state of the planet are not accidents, nor just unavoidable consequences of the nature of things. They are the result of the modern practice of economics, which makes elementary errors of accounting, evidence, perception and theory.

Debt Collectors Cashing In on Student Loan Roundup (jdargis)

Unlike private lenders, the federal government has extraordinary tools for collection that it has extended to the collection firms. Ms. Cordeiro has already had two tax refunds seized, and other debtors have had their paychecks or Social Security payments garnisheed. Over all, the government recoups about 80 cents for every dollar that goes into default — an astounding rate, considering most lenders are lucky to recover 20 cents on the dollar on defaulted credit cards.

Louisiana: Oil Linked to BP (jdargis)

BP said that it was performing its own tests, but that the cleanup of oil was continuing.

Energy

Argument Over the Value of Solar Focuses on Spain (guardia)

The critical question for the future is whether renewable energy sources can fill the gap, sustaining the energy surplus that has supported explosive growth in human life span and population since the industrial revolution. A book due out later this year promises a hard-nosed look at solar energy—the fastest growing form of renewable energy—and is likely to raise plenty of eyebrows.

Environment

Potential for a Mining Boom Splits Factions in Afghanistan (jdargis)

Powerful regional warlords and militant leaders are jockeying to widen their turf to include areas with mineral wealth, and the Taliban have begun to make murderous incursions into territory where development is planned. In the capital, Kabul, factional maneuvering is in full swing, including disputes over lucrative side contracts awarded to relatives of President Hamid Karzai.

How the Clean Air Act Has Saved $22 Trillion in Health-Care Costs (jdargis)

The improvements in air quality were thought to be primarily due to reductions in particulate matter and ozone. In this retrospective analysis, the modeling predicted an annual reduction of 184,000 premature deaths, 674 cases of chronic bronchitis, over 22 million lost days at work, and other outcomes.

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

Login or Register to post comments