Tag Archives: Labor

A Most Peculiar Recession

By Charles Hugh Smith Source: Of Two Minds So what are conventional pundits missing today? I would start with three dynamics. Only old people experienced real recessions–those in 1973-74 and 1980-82. Recessions since then have been shorter and less systemic. In the … Continue reading

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Livelihoods in a Degrowth Economy

By Charles Hugh Smith Source: Of Two Minds Let’s consider livelihood options in an unsustainable economy of extremes that are unraveling, an economy that is being forced to transition to Degrowth. Nassim Taleb’s book Antifragile explains the differences between fragile systems (systems that cannot … Continue reading

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Our Financial System Is Optimized for Sociopaths and Exploitation

By Charles Hugh Smith Source: Of Two Minds We live in a peculiar juncture of history in which truth has been banished as a threat to the maximization of private gain, i.e. the hyper-pursuit of self-interest. Evidence that supports a causal chain has been … Continue reading

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The Long Cycles Have All Turned: Look Out Below

By Charles Hugh Smith Source: Of Two Minds Long cycles operate at such a glacial pace they’re easily dismissed as either figments of fevered imagination or this time it’s different. But since Nature and human nature remain stubbornly grounded by the same … Continue reading

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America’s Bottom 50% Have Nowhere To Go But Down

By Charles Hugh Smith Source: Of Two Minds One might anticipate that the bottom 50%’s meager share of the nation’s exploding wealth would have increased as smartly as the wealth of the billionaires, but alas, no. America’s economy has changed … Continue reading

Posted in Corporate Crime, Corporate Welfare, culture, Dystopia, Economics, elites, Financial Crisis, Health, Housing Crisis, Inequality, Labor, Neoliberalism, Oligarchy, Social Control, Social Engineering, society, Sociology, State Crime, Technocracy, Work | Tagged , , , , , , , , , , , , , , , , , , | 1 Comment

America Is Now a Kleptocrapocracy

By Charles Hugh Smith Source: Of Two Minds I’ve coined a new portmanteau word to describe America’s descent: kleptocrapocracy, a union of kleptocracy (a nation ruled by kleptocrats) and crapocracy, a nation drowning in a moral sewer of rampant self-interest in which … Continue reading

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The U.S. Economy In a Nutshell: When Critical Parts Are On “Indefinite Back Order,” the Machine Grinds to a Halt

By Charles Hugh Smith Source: Of Two Minds Setting aside the “transitory inflation” parlor game for a moment, let’s look at what happens when critical parts are unavailable for whatever reason, for example, they’re on back order or indefinite back order, i.e. the … Continue reading

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Jeff Bezos Embodies the Cruel Autocracy of Neoliberal Capitalism

Amazon CEO and richest-man-in-the-world Jeff Bezos wants you to work as much as he does—for one millionth of the pay By Branko Marcetic Source: In These Times “Is Jeff Bezos a horrible boss and is that good?” That was the question … Continue reading

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