Media

The Pew Charitable Trusts blew a major opportunity to condemn the exploitative practice of payday lending when it issued a major report on this issue a few days ago -- the culmination of over two years of careful research. 

Payday lenders have found a powerful friend in the Pew Charitable Trusts. In a recent report on payday lending -- the culmination of two years of work -- Pew embraces reforms to this industry that would still allow the poorest Americans to be charged annual interest rates in the triple digits. 

This mentality is all too pervasive, even though it is repulsive both as a matter of public policy and as a moral value.

Congress resolved the shutdown and debt ceiling crisis (for now) by agreeing to hash out a budget agreement by mid-December. Already, hopes are dim. Budget experts say that if any deal at all is worked out to replace the deep budget cuts that went into effect in March, the most likely outcome will be a short-term plan involving slightly less severe spending cuts—but with no new revenue, a big Democratic priority.

Many states have underfunded pensions, partially because to the financial crisis of 2007 and partially because of politicians underfunding the pensions. In order to increase returns and close that gap, more pension systems are turning to alternative investments in hedge funds.

Washington is in its usual state of hysteria this week -- now over the Obamacare rollout -- so, as usual, few people in power are talking about the biggest problem facing the country: a still-stagnant labor market that has stranded millions in a jobless hell, with real unemployment rates for some groups at Great Depression levels. 

Millions of workers across Indonesia are joining a national strike this week to press for a higher minimum wage and universal health coverage. This is actually a big deal for Americans, not that any of us are paying a lick of attention.  

The most likely consequence of the sequestration will be be slower growth and lower tax revenues, and it’s a distinct possibility that the sequestration could actually increase the deficit.

“Not happy with your job? Just wait,” the Associated Press instructed young peopleon Sunday.

Memo to 20-somethings: You might be waiting a long time.