This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. By William K. Black I wrote yesterday about the “control frauds” (in which the person controlling a seemingly legitimate entity uses it as a “weapon” to defraud) that target purchasers of bad quality goods (“lemons”) and employees. …
Tag Archive for Wages
Latest Business Headlines
Apple Stores’ Army, Long on Loyalty but Short on Pay – NYTimes.com
by Newswires • • 0 Comments
About 30,000 of the 43,000 Apple employees in this country work in Apple Stores, as members of the service economy, and many of them earn about $25,000 a year. They work inside the world’s fastest growing industry, for the most valuable company, run by one of the country’s most richly compensated chief executives, Tim Cook.…
Economics, Housing, Lee's Free Thinking, Must Read
North Las Vegas Crisis An Example of Why To Stop Crying, “Shadow Inventory!”
by Lee Adler • • 0 Comments
The sad story of North Lost Wages, Nevada, is an example of why the “shadow inventory” issue is a toothless bogeyman for the US as a whole. Not only did the bubble create false pricing. It caused the construction of entire “false communities,” based largely on speculative purchases never intended for occupancy. This bubble activity…
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Our central bankers are intellectually bankrupt – Ron Paul in FT
by Newswires • • 0 Comments
by Ron Paul The financial crisis has fully exposed the intellectual bankruptcy of the world’s central bankers. Why? Central bankers neglect the fact that interest rates are prices. Manipulating those prices through credit expansion or contraction has real and deleterious effects on the economy. Yet while socialism and centralised economic planning have largely been rejected…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Does Believing in the "Recovery" Make It Real?
by Charles Hugh Smith • • 0 Comments
Basing a “virtuous cycle” on lies and propaganda is self-defeating.
Does believing in the “recovery” make it real? The propaganda policies of the Federal Reserve and the Federal government are based on the hope that you’ll answer “yes.” The en…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
If This Is Such a Strong Economy, Why Does This Chart Look Recessionary?
by Charles Hugh Smith • • 0 Comments
Is the U.S. really a post-oil economy?
One way to gauge the real economy is to look at charts of the GDP, wages, household debt and the price of oil; another way is to correlate all of these on one chart. The following chart (courtesy of freq…
Bruce Krasting, Contributors- Economic and Financial, Must Read
Sins of the Past
by Bruce Krasting • • 0 Comments
Ben Bernanke has said many times that Marriner Eccles, the head of the Federal Reserve in 1936/37 made a mistake by tightening credit (raising reserve requirements). Bernanke blames Eccles’s actions for the 50% stock market collapse in 1937 and the …
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
What Rising Gasoline Prices Do to the Economy
by Charles Hugh Smith • • 0 Comments
Charting gasoline prices against income and GDP provides some interesting results.
Since rapidly rising gasoline prices are in the news, let’s look at some charts of gasoline and the economy, courtesy of frequent contributor B.C. These depi…
William Black
The New York Times’ Ode to Foxconn and Anti-Employee Control Fraud
by New Economic Perspectives • • 0 Comments
By William K. BlackI wrote recently about Apple’s release ofinformation from its “audits” of its major suppliers. Apple constructed the release to deny thepublic information on the identity of the suppliers that defrauded andendangered the …
Bears Chat, Best of the Forums, Must Read
U.S. Poverty: Census Finds Nearly Half Of Americans Are Poor Or Low-Income
by Bears Chat at The Wall Street Examiner • • 0 Comments
U.S. Poverty: Census Finds Nearly Half Of Americans Are Poor Or Low-Income
First Posted: 12/15/11 02:03 AM ET Updated: 12/15/11 10:05 AM ET
WASHINGTON — Squeezed by rising living costs, a record number of Americans – nearly 1 in 2 – have fallen…
