Monday, April 11, 2016

About the links:  James Hamilton at Econbrowser asks the question why lower oil prices has not lifted the economy.  His answer:  while consumers have spent the extra cash, especially among those who rely on gasoline (trucking companies, taxi drivers), lifting the economy, oil producers have offset these gains by reducing spending.  Once the employment drop in the oil sector registers, we can expect a corresponding drop in GDP.  This gives added credence to the rumors of an impending recession.  NMPolitics.Net links you an excellent site, Buying of the President 2016 (click here) and a story about big money shoveling its way to the Hillary campaign while she tries to keep up with Bernie in bashing big money on the rhetorical end.  Tim Taylor summarizes evidence suggesting "alternative" jobs account for all the job growth during the past ten years.  Robert Reich shows that the big banks are even bigger than they were before the bust, directing you to a statement by the Vice Chair of the Federal Deposit Insurance Corporation (click here) that the assets of four big banks are about the same as GDP in the US in 2012.  ProMarket discusses how special interests have intimidated journalists into legitimizing those with an interest in denying man-made climate change.

Talking about intimidation, Heath Haussamen (click here) posted a chilling story last week about a border check point stop and followed with another story written by Cassie McClure (click here and here) who suggests abuse of authority at check points is common.

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