How Local Governments Can Fight Back Against the Foreclosure Crisis

Reprinted from New Deal 2.0 (January 18, 2012) By Kristen Tullos Cities can use local housing codes and land banks to push back against banks’ reckless behavior. Since the beginning of the economic downturn, Congress has passed numerous pieces of legislation aimed at stabilizing the housing market. Their legislative efforts succeeded in stabilizing financial markets, […]

Inequality in America: Pox and Progress

Cross-posted from New Deal 2.0 (September 20, 2011) By Georgia Levenson Keohane The gap between America’s rich and poor is growing wider, and a new IMF study shows why that inequality is hurting our economy. Nowhere is the divide in America between the haves and have-nots a stark as it is in New York City, […]

Forgetting Lessons of Keynes and FDR Brings On the ‘Obama Recession’

by David Woolner (Cross-posted from the Roosevelt Institute’s New Deal 2.0) When FDR ignored the Keynesian tenet that cutting spending in a downturn spells disaster, he paid dearly. Obama is set to relearn this lesson the hard way. “The economic experiments of President Roosevelt may prove, I think, to be of extraordinary importance in economic […]

Deficit Predators: Everything You Need to Know About the Twisted, Dangerous Debt Ceiling Fight

Cross-posted from New Deal 2.0. by James Galbraith The debt ceiling is an exercise in bad faith. And any deal that cuts social programs, a disastrous solution to an imaginary fiscal crisis, will be catastrophic for millions of Americans. News reports hold that President Obama scored a political victory by agreeing to put Medicare and […]

Washington’s Whiskey Woes

Cross-posted from the New Deal 2.0 Blog. by William Hogeland Despite claims to the contrary, the Whiskey Rebellion was no anti-government crusade — it was a battle for progressive taxation and regulation. The seething social, political, and economic struggles over public and private finance that marked our founding period came to a head in the late […]

Get Ready for a Global Growth Slowdown

Cross-posted from the New Deal 2.0 blog by Marshall Auerback Governments across the globe are headed for a disaster entirely of their own making. Though capital markets remain strong, the global economic backdrop continues to deteriorate as fiscal retrenchment takes hold. Commodity markets have rallied in tandem with the fall in the dollar even though there […]

Democratic Finance v. Banking Fraud in Early America

Cross-posted from the Roosevelt Institute’s New Deal 2.0 blog. Originally published Monday, March 7, 2011. by William Hogeland Ordinary 18th-century Americans fought for fair access to small-scale credit and usable currencies. Big finance fought back. Calling modern banking “a widespread fraud,” Rob Burns wants to push the finance industry out of everyday lending. A candidate for […]

Foreclosing the Foreclosers, Early-American Style

Cross-posted from the Roosevelt Institute’s New Deal 2.0 blog. Originally published Monday, February 28, 2011. by William Hogeland Memo to Tea Party: The major social battle raging during the time of the American Revolution was over the proper uses of money and credit. Not getting government out of the economy. “I got debts that no honest man […]

Sarah Palin and Michele Bachmann Would Call 18th-Century Philadelphia Freedom Fighters ‘Un-American’

Cross-posted from the Roosevelt Institute’s New Deal 2.0 blog. Originally published Monday, February 21, 2011. by William Hogeland In a brand new series at ND 2.0, “Founding Finance”, author William Hogeland challenges Tea Party myths about the early days of our Republic and reveals the rich progressive tradition of Americans fighting for economic justice. At a […]

National Debt Half What it Was in 1946

Editor’s note: Economist James Galbraith debunks the latest effort by deficit hawks to raise fears about the debt and deficit, and to undermine Social Security and Medicare. Deficit Hawks Down: The Misconstrued “Facts” Behind Their Hype Cross-posted from the Roosevelt Institute’s New Deal 2.0 blog. by James K. Galbraith Economist James K. Galbraith attends a Pete Peterson-funded […]

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