Financial Crisis

The American Retirement Security Crisis: An Introduction

  • By
  • Lauren Damme,
  • New America Foundation
May 27, 2010

The Great Recession has battered pensions and home values, leaving millions of Americans facing an uncertain retirement. "But attributing this grim situation solely to the recession would be misleading," writes Lauren Damme.

Europe's Debt Crisis and Keynes' Green Cheese Solution

  • By
  • Thomas Palley,
  • New America Foundation
May 23, 2010 |

The great German physicist Max Planck remarked that “science advances one funeral at a time.” The situation is worse in economics, which is subject to regress, as happened when the valuable but imperfect insights of Keynesianism were supplanted by the ideological blinkers of neo-liberalism.

Lessons from Portugal

  • By
  • Anne Vorce,
  • New America Foundation
May 24, 2010

Inspiration can come from the most surprising places.

Take Portugal, for instance. (Granted, there are major differences between the U.S. and Portuguese economic and fiscal situations.)

What’s Wrong (And Right)

  • By
  • Sherle R. Schwenninger,
  • Samuel Sherraden,
  • New America Foundation
May 24, 2010

 

 

 

 

 

 

Could the U.S. End Up Like Greece?

  • By
  • Anne Vorce,
  • New America Foundation
May 20, 2010 |

Over the past month, we've watched from distant shores as Greece has plunged into a debt crisis. Mounting pressure from global financial markets forced Greece to begin a drastic austerity program.

With a fiscal deficit of 8.1 percent of GDP and government debt of 115 percent of GDP expected this year, Greece has promised to turn itself around by 2013.

Long-term Consequences of Economic Fluctuations

  • By Jeffrey G. Madrick, Senior Fellow, The Schwartz Center and William T. Dickens, Distinguished Professor of Economics and Social Policy, Northeastern University
May 20, 2010

To read working papers from the Bernard Schwartz Center for Economic Policy Analysis, please click here.

A Strong Consumer Watchdog Remains in the Financial Reform Bill

May 19, 2010
Publication Image

The financial reform debate continues to unfold in the Senate. As Justin mentioned, you can follow the daily developments before the final votes occurs as reported ably by Tim Fernholz and Brian Beutler.

While Majority Leader Reid wants to move things along, a vote scheduled for this afternoon to end the debate has been pushed back. This will allow more time for a number of outstanding issues to be addressed and allow Senators to get votes on their proposed amendments. These include the Merkley-Levin amendment which would impose a version of the Volcker rule to restrict proprietary trading by firms also operating as banks, the Cantwell-McCain amendment to bring back Glass-Steagall rules to segregate consumer and investment banking services, and the Dorgan amendment to restrict credit default swaps for purely speculative purposes. And there are more. In other words, there are still many policy issues to consider and political hurdles to surmount before this bill becomes a law.

But, for what it's worth, I believe it will become a law.

American Capitalism 6.0: The Search for a New Model

  • By
  • Michael Lind,
  • New America Foundation
May 18, 2010 |

What a difference a global economic collapse makes. Only a decade ago in the 1990s, many opinion leaders proclaimed the triumph of the American model of capitalism. The end of the Cold War replaced the battle of capitalism and communism with a battle of capitalism against capitalism.

Facing an American Retirement Security Crisis

  • By
  • Lauren Damme,
  • New America Foundation
May 17, 2010

There are three main sources of retirement security upon which Americans depend: pensions, non-financial assets (usually homes), and Social Security. Pensions are the least broadly distributed asset: only 34.2 percent of Americans 65 and over earn pension income, while 54 percent have income from assets and over 85 percent receive Social Security payments.[1]

Greek Crisis Leads to Positive Steps

  • By
  • Steven Hill,
  • New America Foundation
May 14, 2010 |

Contrary to what the doomsayers have been saying, Greece's debt crisis may turn out to be one of the best things to happen to the European Union.

While the situation has been messy, it also has signaled a badly needed wake-up call to Europe about a flaw at the heart of its monetary union. That in turn has resulted in a move toward reforms that have the potential to lead to sensible financial regulation and transparency, as well as to strengthen Europe's union. These reforms include:

Syndicate content