Chicago - Apr. 30, 2021

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How The Federal Reserve Is Making The Rich Richer - And Not So Much Everybody Else

By Allan Sloan and Cezary Podkul/ProPublica

Ever since the COVID-19 pandemic struck, the Federal Reserve has gotten plenty of kudos for moves that have helped stabilize the economy, kept house prices from tanking and supported the stock market. But those successes have obscured another effect: the inadvertent impact the Fed's ultra-low interest rates and bond-buying sprees are having on economic inequality.

Longstanding inequality in the U.S. has been exacerbated by the Fed's role in touching off a multitrillion-dollar boom in stock markets - and stock ownership is heavily skewed toward the wealthiest Americans.

In contrast, soaring stock prices don't help people like Wina Tan. Tan, 59, is one of the millions of Americans nearing retirement age whose greatest source of wealth isn't stocks or equity in a home. Rather, it's the Social Security checks she expects to start getting once she retires.

Continue reading "How The Federal Reserve Is Making The Rich Richer - And Not So Much Everybody Else" »
Posted on April 27, 2021

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Political Odds

By The Beachwood Bookmaking Bureau

For entertainment purposes only. Including gambling.
Continue reading "Political Odds" »
Posted on November 3, 2020

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How The Federal Reserve Is Making The Rich Richer - And Not So Much Everybody Else

By Allan Sloan and Cezary Podkul/ProPublica

The Fed has accelerated the decades-long increase in economic inequality by helping increase the wealth of people at the top far more than it has increased the wealth of working-class Americans.

Posted on April 27, 2021

Another Win For Big Soda

By Samantha Young/Kaiser Health News

Soda taxes work. So does soda company spending to stop them.

Posted on April 21, 2021

They Do Run Run

By David Rutter

Jim Oberweis, meet Lars Daly.

Posted on April 20, 2021

As Elite College Applications Soar, Legacy Admissions Still Give Wealthy And Connected Students An Edge

By Liz Willen/The Hechinger Report

As many as 33 percent of admitted Harvard students in recent years were legacies.

Posted on March 20, 2021

Illinois Prisoners' Health Care Still Unconstitutional

By The Uptown People's Law Center

Five reports by independent experts have now been submitted to the federal court, each one finding serious defects in the health care Illinois provides to the people it imprisons. The latest report notes very little has changed since IDOC entered into an agreement to improve two years ago. The federal monitor suggests that the crisis needs the governor's personal attention, a call shared by the lawyers for the prisoners.

Posted on March 31, 2021

Thank Trump For Your Stimulus Check

By David Rutter

Here's why.

Posted on March 12, 2021

Like The Diana Story, Meghan's Fight With The Royals Will Ensure Nothing Really Changes

By Jonathan Cook/Common Dreams

Oprah Winfrey's interview with Meghan and Harry is a perfect case study of how an important political debate about the corrupting role of the monarchy on British life gets shunted aside yet again, not just by the endless Royal soap opera but by supposedly progressive identity politics.

Posted on March 11, 2021