Student debt up, all other kinds down

The New York Fed is out with its credit report for the first quarter of 2012. It shows student debt bucking the trend (“Student Loan Debt Continues to Grow”), rising while all other kinds of debt fell from the end of last year. Student debt, at $904 billion (not yet the much-advertised trillion), is now considerably larger than credit card and auto debt. A decade ago, student debt was a less than half credit cards and autos. (By the way, it’s interesting that the New York Fed has begun publishing rigorous student debt… Read More

Bain actually loves Dems

All good Democrats are busily hating on Bain Capital right now. What they’re forgetting is how many Bain-affiliated political contributions have gone to Democrats. Plug the words “Bain Capital” into an search and you learn that while Bain people have lovingly contributed to their former CEO’s presidential campaign, almost 3/4 of their contributions to other candidates, 72% to be precise, have gone to Democrats. That’s a higher percentage to Dems than the AFL-CIO! And among the top recipients are Dem headliners like Al Franken, Claire McCaskill, John Kerry, Mark Udall, Nancy Pelosi, and Sherrod… Read More

Explaining what goes on in the world: in memory of Bob Fitch

[This is the text of a talk I gave at LaGuardia College, Long Island City, Queens, in memory of Bob Fitch, who died on March 4, 2011, from complications of a fall he suffered when returning home from teaching at LaGuardia. My short remembrance, written for The Nation, is here. Thanks to Jane LaTour for the two photos of Bob reproduced here. Video by Prudence Katze and Will Lehman is here.] I want to start by saying how honored I am to be giving this, the first Bob Fitch memorial lecture. I dearly hope there will… Read More

Me talking about Fitch, Monday

I’m giving the Bob Fitch memorial lecture on Monday evening, 5-7 PM, LaGuardia College, 31-10 Thomson Avenue, Long Island City, Room E-500. New York city, unions, Democrats, stuff like that. Map:,+31-10+Thomson+Avenue,+Long+Island+City&aq=&sll=40.686987,-73.961261&sspn=0.012464,0.023389&ie=UTF8&hq=&hnear=29-10+Thomson+Ave,+Queens,+New+York+11101&t=m&z=14&iwloc=A&ll=40.744257,-73.937931&output=embed View Larger Map

Fresh audio product

Just added to my radio archives: May 5, 2012 James Galbraith, author of Inequality and Instability, talks about inequality and instability