Digging Into the Meltdown

Membership Ticker

BREAKING: Good journalism costs money.
And we need a lot of both right now. We’re short of our August goal of $163,000 in online donations, and it’s not going to get any easier next month when election noise and news will be even louder. You know what’s at stake. And you know Mother Jones is up for it. Will you pitch in now so we can do our best work?

We need to raise $163,000 before the month ends and the election noise and news get louder. You know what’s at stake. And you know Mother Jones is up for it. Please help if you can.

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

DIGGING INTO THE MELTDOWN….Tyler Cowen notes Europe’s disastrous exposure to emerging market debt and says:

By the way, this is further evidence that the driving force behind the earlier boom was the global savings glut, and sheer giddiness, not the excessively loose monetary policy of Greenspan’s Fed.

But why not both? And a few other things as well, including the increasing concentration of income and wealth in the hands of the rich? Are they really all mutually exclusive?