The US workforce is the most productive, best educated in history and unemployment is at an all-time low, but wages are stagnant

Orthodox market economics holds that when unemployment falls and the labor supply gets tighter wages go up; it also predicts that better-educated workers and more-productive workers get paid more for their work -- none of this has happened. Read the rest

Leaked docs reveal Koch/Walton/DeVos's anti-teacher talking points

The "State Policy Network" is a coalition of 66 far-right organizations who've been given $80M by a small number of billionaires, including the Walton family (heirs to the Walmart fortune), the Koch Brothers, and Betsy DeVos; they're terrified of the teachers' uprising, in which wildcat strikes have raced across America because teachers whose unions were neutralized have been put on starvation wages in underfunded facilities. Without any union bosses to keep them in check, the teachers have demanded the world -- and they're getting it. Read the rest

The other class war: technocrats vs plutocrats

After World War Two, the balance of wealth shifted dramatically: the super-rich lost so much capital during the two wars and the interwar period that their grip on power slipped, creating the space for a welfare state and other reforms. Read the rest

If this goes on... The 1% will own two thirds of the world by 2030

The House of Commons Library has published research projecting the post-2008 growth of inequality until 2030, arriving at an eye-popping headline figure: at current rates, the richest 1% will own two thirds of the world's riches by 2030. I think that number is too low. Here's why. Read the rest

Rail barons and the new gilded age: one-percenters travel in style by hitching private "super-luxe" railcars to Amtrak trains

The Wall Street Journal profiles rich "train buffs" who buy vintage Gilded Age railcars and refurbish them, then pay to have them hitched to Amtrak trains and pulled between their city houses and their country places. Read the rest

Billionaire Cartier boss returns from fishing holiday gripped with terror that the poors are going to start building guillotines

Tobacco heir Johann Rupert is worth $7.5B; he's head of Cartier, Montblanc, Chloe and other luxury goods labels, having returned to the helm of his Richemont holding company after a year-long fly-fishing sabbatical; in a speech to the Financial Times Business of Luxury Summit in Monaco he revealed that he no longer sleeps at night because he is worried that "envy, hatred and social warfare" will destabilize the world. Read the rest

Gary Cohn served Donald Trump for 14 months, and made billions for his old bosses at Goldman Sachs

When Donald Trump announced that he would "drain the swamp" by filling his cabinet with lobbyists, billionaires, and political operators, we all braced for an onslaught of rules that benefited the fattest of cats at the expense of everyone else, but Gary Cohn outdid himself. Read the rest

Thousands of Oklahoma teachers, inspired by West Virginia, are planning a walkout

West Virginia's teachers across the state are participating in an unsanctioned wildcat strike with no end in sight -- thanks in part to the widespread support for their cause among West Virginians, and solidarity from other workers. Read the rest

Koch brothers publish letter crowing about all the ways Trump spent the year carrying water for them

In a letter to the Koch network -- a group of evil billionaires who chip in to buy politicians -- the Koch brothers crowed about how Donald Trump (whom they considered replacing with Paul Ryan in a backroom deal at the 2016 RNC) has been a pliable servant to them and their political goals during his year in office. Read the rest

California ballot initiative to make state university free again by reinstating inheritance tax for millionaires

From their inception, California's state colleges and universities were free or nearly free for in-state students, but since the 1970s, the state systems have been ratcheting up tuition and originating loans that impose crippling debt on students, leading to delayed fertility, late home-ownership, reduced retirement savings, and dampening entrepreneurial risk-taking. Read the rest

Corbyn says he'll end asset-stripping hostile takeovers

Labour leader and PM-in-waiting Jeremy Corbyn has promised that when he is Prime Minister, his government will introduce regulations that ban the finance-driven, asset-stripping hostile takeovers of UK companies, in a bid to make finance the "servants of industry not the masters of us all." Read the rest

The world's worst money launderers are the UK, Switzerland and the USA

The USA has moved up in the Tax Justice Network's Financial Secrecy Index to number two, behind Switzerland; in reality, though, the UK is the world's worst money-laundry, but because its laundering activities are spread out over its overseas territories -- taken as a whole, the UK leads the world in helping criminals and looters hide their fortunes. Read the rest

Apple, Google add 45 minutes to commuter-bus run to avoid 280 highway, where the buses' windows keep getting smashed

No one's sure how the windows on commuter buses between San Francisco and Silicon Valley keep getting smashed on a stretch of the 280 -- maybe it's a pellet gun, maybe it's thrown rocks -- but Apple and Google have informed employees who use the service that their commute is about to get 45 minutes longer as they take alternate routes to avoid that highway. Read the rest

To keep their bond-ratings, hedge-funds have to publicly demonstrate that they are the most ruthless of landlords

After the subprime crisis, vulture funds swept into the hardest-hit areas and bought thousands of foreclosed-upon homes at firesale prices and floated bonds based on the expected returns from the rents they'd be able to charge in an America with the lowest levels of home-ownership in modern history. Read the rest

Scottish police confirm requests from world governments to find money laundered through "the UK's homegrown secrecy vehicle"

Scottish Limited Partnerships (previously) are notorious corporate entities whose true owners are easily disguised, making them perfect vehicles for money laundry. Read the rest

UK tax authority, gutted by austerity and buried by Brexit, can't deal with the crime revealed by the Paradise Papers

HMRC, the British tax authority, is 'struggling to deal with fallout of Paradise Papers leak,' according to Parliament's public accounts committee, whose new report describes an already understaffed agency whose workload has been increased by the preparations for Brexit. Read the rest

After a manager at a Dollar General asked about the unionization of a nearby store, the company fired her

Missouri, an overwhelmingly poor, GOP-dominated state, where a new "right-to-work" bill will face a referendum on the 2018 ballot, is at the heart of the battle over the nation's surging trade union movement. Read the rest

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