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The Fed Protects Gamblers at the Expense of the Economy

Ellen Brown Truthdig
from of Federal Reserve building The repo market is a fragile house of cards waiting for a strong wind to blow it down, propped up by misguided monetary policies that have forced central banks to underwrite its highly risky ventures.

Puerto Rico's New Fiscal Plan: Certain Pain, Uncertain Gain

Lara Merling Philadelphia Inquirer; CEPR
Puerto Rico was already in trouble after suffering a “lost decade” without economic growth after 2005, leading to a default on its public debt and mass migration from the island. That was before Hurricane Maria.

Puerto Rico: Cruelest Storm; Trump Political Disaster; AFL-CIO Labor Solidarity

Puerto Rico has been hit by a triple disaster - Hurricane Maria; outrageous debt owed to vulture hedge funds; racist, colonial indifference by the Trump Administration. Puerto Ricans - on the island, and in the U.S. have called for the lifting of the Jones Act, as it applies to Puerto Rico; canceling the debt; and abolishing PROMESA. Yesterday a solidarity flight of medical and emergency organized by AFL-CIO unions brought needed supplies and aid workers to the island.

The Mooch, the Donald, and the Goldmanization of Government

Richard Eskow Our Future
It’s somehow fitting that a hedge fund investor who does no investing has now become the spokesman for a president who appears to do very little actual governing. What Scaramucci does very well, however, is promote Scaramucci. The Mooch’s antics make him Trump’s ideal Mini-Me. He’s another empty-hatted showboater, loudly distracting the audience from the pickpockets moving among them.

Tax Dodge: The Carried Interest Loophole

Why is Trump breaking his promise on carried interest? The White House is full of bankers and hedge fund managers who, over the last decade, have collectively dodged nearly $180 billion in taxes!

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