investing
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Smithfield, Pilgrim’s Pride, and other meat giants get credit-crunched
As I’ve written so many times before, a very few companies essentially control U.S. meat production. Their business model is crude, but for years has been effective: You place lots of animals in a tight space (or "contract" with farmers to do so), stuff them with corn and soy (made cheap chronic overproduction mandated by […]
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An alternative bailout proposal
Jerome a Paris suggests a different bailout idea: a National Investment Bank that would focus on helping people rather than banks. It would serve the following functions: • allow bankrupt institutions in the existing financial sector to go bust without damaging the real economy by creating an entity able to step in to fund the […]
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Galbraith argues against the bailout and in favor of public investement
I cited James Galbraith last night while arguing that the financial mess should not deter us from making substantial investments in our future. (By the by, you should read Galbraith’s new book, The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too.) Today, Galbraith has a kick-ass op-ed in the Washington […]
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Investing in clean infrastructure
Originally posted to the NDN blog. —– The debate now underway in the Congress on a financial bailout is not the only important piece of business before the Congress in its waning days. With a real economic recession now all but certain, Congress is considering a second stimulus package. But at this critical moment in […]
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The financial crisis, how we got here, and who knows what to do about it
David Roberts recently said about the current financial crisis: • Nobody clearly understands how we got in this situation. • Nobody clearly understands what situation we are in. • Nobody clearly understands what’s going to happen next. The first and second were, I think, serious errors. Dean Baker predicted this back in September of 2002 […]
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The financial sector and the ‘real economy’ aren’t that far removed
Sean has done an estimable job knocking down some of the more piqued reactions to the financial bailout in comments, but this really is a topic that deserves above-the-fold treatment. The crisis raises a host of big-picture questions about the proper role of oversight in the financial industry, but wherever the blame for the current […]
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A weak economy brings a diminished appetite for curbs on carbon emissions
The Freakonomics blog offers up a long-ish but lucid discussion of the ongoing financial crisis. I recommend the whole thing, but in a nutshell: Financial institutions borrow money all the time to fund their investments. When the real estate bubble burst, a lot of those investments lost value rapidly, leaving banks such as Bear Stearns […]
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Passing the buck or paying the piper
We have just gone through a period in the U.S. when very little new public infrastructure was built (with the exception of wired and wireless telecommunications infrastructure). Led by a generation and a half of politicians and economic theorists — as well as our own inclinations — Americans have become used to believing that a […]
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The financial meltdown and other considerations for clean energy development
Tom asked earlier what the "anarchic" disintegration of Lehman Brother’s carbon trading desk — taking place within the broader disintegration of the entire company — means in the bigger picture. And the answer, most likely, is pretty much nothing. This is true for a variety of reasons, not least among them that Lehman Brothers was […]
