Media

The Washington Post reports that nearly all sizeable campaign contributions in this year’s presidential election have come from people living in predominantly wealthy, white neighborhoods. Even though Latinos comprise about 16 percent of the U.S. population, less than four percent of the $1.3 billion in itemized contributions came from Latino neighborhoods.

Since Citizens United, new waves of “outside spending” have been fueled by dark money and unlimited fundraising from a small number of wealthy donors.

Today's job numbers show that the economy continues to creep in the right direction -- but also that job creation will remain a paramount challenge over the next few years. The problem is not just the millions of working-age adults who remain unemployed or under-employed.

The surprise Obama endorsement from New York City Mayor Michael Bloomberg’s is a good time to revisit one of Bloomberg’s ideas to combat climate change: the carbon tax.

Hurricane Sandy dealt a devastating blow to transit systems in the New York metro area and revealed, once again, just how fragile and antiquated many of these systems are. Sandy also pointed up the need for New York and other coastal cities to retrofit energy systems for an era of higher seas and fiercer storms, moving power stations to higher ground.

One positive outcome of the storm would be if it focused new attention on infrastructure needs -- and generated new political will to address them in ways that help stimulate the economy.

As the East Coast starts to recover from Hurricane Sandy, one begins to wonder whether this is the new norm? Going forward, will stronger, more intense storms continually batter the East Coast? Unfortunately, that seems likely to be the case without meaningful comprehensive action to combat climate change. Days of blackouts, massive economic losses, and increased fatalities could become business as usual as seas rise and hurricanes gain in intensity.

It’s a pleasure to drive the roads of Vermont.  This mountainous state, which still enjoys a strong agricultural sector, outlaws billboards.  So do Alaska, Hawaii, and Maine.  Drive into neighboring New Hampshire to experience the difference. 

It's a sign of our shadowy times that the latest regulatory "reform" bill hasn't been laughed out of Washington. Same goes for the latest bankers' complaint, this time about being asked to cover their own bets. And if you think it's bad now, wait and see what happens if Romney takes over.

Think "global catastrophe."

While bank-friendly politicians offer insipid legislation, the world economy is still at risk. And it could get worse.

The economic analysis of the impact of Hurricane Sandy is a perfect example of the flaws of GDP and our over-reliance on it as a metric of progress. Just like with Hurricane Irene, there will be some GDP growth from Sandy-- spikes in consumption as people stock up on batteries, food supplies, water, etc., and spikes in construction work after the hurricane. This growth will be countered by the loss in productivity and output.