Category Archives: economy

International Write-Off Day 2015

. Julius Caesar returned from the conquest of Gaul and paid off the hoi polloi’s debt. The rich were bribed with gold. Romans called this holiday a ‘jubilee’ and the common man extolled Caesar. They were no longer slaves to the upper classes, who hated Caesar for disrupting the ancient social order. Caesar thought that […]

Up The Rebels Down With The Dow Jones

Today the Dow Jones broke 17,000. My friend Gayle was in a bad mood. The investment banker was playing the market short to tank. Under Obama the rich have gotten obscenely rich and this news is an appalling reflection on Wall Street’s continued exploitation of the US economy in order to diminish the circulation of […]

Less Milk

The Financial Times came out of the banking holiday with a putdown on Thomas Piketty’s book “Capital in the Twenty-First Century.” and its tenet that income inequality has increased to disparities unseen since before the Great Depression. According to Al-Jazeera the FT’s Chris Giles says Piketty has “got his sums wrong.” Giles writes that the […]

Detroit Overdue

This afternoon I passed the Roosevelt Hotel on my way to the Oyster Bar. Several protestor were gathered before the entrance and a larger contingent of police were surveilling the situation. The group were passing out leaflets against the bankruptcy of Detroit. The city’s creditors are trying to collect 100% on the $18 billion plan […]

Work For Less

A friend of mine works at an editor for Harper Collins in the UK. Her division has suffered another downsizing, despite the book publishers reporting a 33% increase in the last quarter in 2013. More earnings means less workers and less books. One day no one will be working anywhere. I’m not working today, so […]