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Information is power. Our mission at Portside is to seek out and to provide information that empowers you -- that empowers the left. Every day we search hundreds of sources to connect you with the most interesting, striking and useful material. Just once a year we appeal to you to contribute to make it possible to continue this work. Please help.

 

 

 

labor

Still Getting 'It' Wrong

William Spriggs AFL-CIO Now
Thoughts that huge tax cuts to high-income households will offset a downturn in automobile sales, cuts in public spending, rising college tuition or a dismantling of the health sector are irrational. If theFed raises interests rates, it will threaten a more fragile economy than appears at the moment. The drive to be “normal” in a world that is clearly not normal, may put us in danger of a downturn that will be difficult to recover from.

New Report Reveals How Wall Street Impoverishes Los Angeles

Les Leopold Huffington Post - The Blog
According to the report, "No Small Fees: LA Spends More on Wall Street than Our Streets," the City of Los Angeles spent at least $51 million more in Wall Street in fees than it allocates for its entire budget for the Bureau of Street Services. And this is probably an underestimate.

The Reemergence of Housing Bubbles: Should We Be Worried?

Dean Baker Project Syndicate
If most homeowners have not hedged themselves against the possibility that home prices, like bond prices, may fall if interest rates rise, we may be in for another round of very bad news if interest rates ever return to more normal levels. It is remarkable that the latest run-up in house prices has received so little attention from people in policy positions. There may be an enormous price to pay for the continued lack of attention to housing bubbles.
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