Blog Archives

How the Poor Are Prospering by Ignoring the State

This is one of the most interesting and startling articles I have read in a long time. In the usual version of events, the poor are helpless victims of capitalist exploitation, and only the wise intervention of the state can improve their condition. The growth of what experts call System D, the unofficial economy that…

U.S. boosts estimate of auto bailout losses to $23.6B

The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.'s steep stock decline. In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33…

Central-Bank Gold Purchases Soar

Total central-bank gold purchases in the third quarter more than doubled from the second quarter and were almost seven times higher than a year earlier as countries continued to diversify reserves, according to a World Gold Council report.

‘Snatch squads’ caught on camera at London student rally

A YouTube video shot during the November 9 student rally in London allegedly shows plainclothes police acting as agents provocateurs among the protesting crowds. The video uploaded by the user “noshockdoc” shows two people who first engage in rough handling of one of the rally protesters. Then, reportedly, the same people are shown along with…

Postal Service Loses $10.6 billion In A Year

The Postal Service said it lost $5.1 billion through Sept. 30 and that the loss would have hit $10.6 billion without recent legislation allowing it to delay a required annual $5.5 billion payment into a fund for future retiree health benefits.