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That damned middle class again

In his September 3, 2011 NY times OpEd, The Limping Middle Class, Robert Reich continues to make a now-familiar argument that only John and Jane Doe can prop up our floundering economy.
 

When so much income goes to the top, the middle class doesn’t have enough purchasing power to keep the economy going without sinking ever more deeply into debt — which, as we’ve seen, ends badly. An economy so dependent on the spending of a few is also prone to great booms and busts. The rich splurge and speculate when their savings are doing well. But when the values of their assets tumble, they pull back. That can lead to wild gyrations. Sound familiar?
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Donal's picture

'Big Oil' Firms Peaking




In, Has Peak Oil Come To The Non-Opec World? Maybe., Forbes advises investors that the traditional Western Big Oil firms have peaked, and to look elsewhere for profits from new production:
 

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Donal's picture

I Want My Cable TV

Comcast/Xfinity still hasn't restored my TV, Internet and Phone, so I can't watch the US Open. Mind you, I'm extremely grateful to not have been killed by a tree branch, to not be flooded out, to not be without power, but I would have liked to see a few matches before Labor Day weekend, when I'll be limited to whatever they show on the major networks. I looked at the Comcast forums (on the office computer), and customers there are cursing a blue streak - threatening to leave for Dish or Verizon, expecting fee reductions, etc. People aren't used to disruptions.

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Donal's picture

Setting Stage for the US Open


ESPN Classic was showing a 1980 US Open Men's semi final last night, and I happened to catch the fourth set. I remembered watching the other semi in which Bjorn Borg came back from two sets down against Johann Kriek, 4-6, 4-6, 6-1, 6-1, 6-1 but I didn't remember this match between Jimmy Connors and John McEnroe. The idea that Kriek might actually take out Borg was amazing at the time. Kriek was muscular - he looked like a mini Lou Ferrigno - and fast, but no one was as fast as Borg.

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Donal's picture

Earthquake in VA MD DC

I felt a small vibration around 9 AM this morning, like a big truck was near the building. My nearest coworker thought I was tapping my foot. That was apparently the 3.6 quake that Dickday posted about.

Update: We heard it again this morning. The guy that parks right below my desk must have gotten a diesel.

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Donal's picture

The Quiz and the Experiment

The Quiz

We love our Dark and Stormy night writing contests, but the New Yorker points to a Bulwer or Dickens quiz that is a lot harder than it sounds:

Donal's picture

An Experiment Gone Awry

There's a famine in Somalia, and the World Bank has issued another stern warning about global food prices. Asia Sentinel admits concerns, but their headline reads, Global Food Crisis Fears Abate:

Donal's picture

Don't try this anywhere

Incredibly impressive stunts, but how many people are going to the ER after trying this stuff?

Donal's picture

"True" Cost of 2011 Cars

 
Edmunds has released their lowest true cost to own (TCO) list for 2011:
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