Articles

Published Articles by Jack Rasmus:

The following are select, published articles by Jack Rasmus on economics and political economy. They range form 2,000 to 5,000 words and are listed in reverse chronological order, the most recently published first. Single article downloads for reading are free. All copyrights remain with the author.

Oped #6-The March Jobless Numbers–A Contrarian View

Jack Rasmus
April 2011 (also available on the blog, jackrasmus.com)
Jack shows why the jobless numbers are really quite worse than the much hyped 216,000 jobs created in march 2011. He also outlines and forecasts why the jobs numbers are about to get much worse later in 2011-12, both in the public and private sectors.

The Truth Behond the Public Pensions Funding Gap

Jack Rasmus
March 2011
Jack explains why the gap in public pensions funding is not due to worker benefit increases, but a result of pension managers\’ failure to make contributions to the funds, the pension act of 2006 and speculative investing by pension managers, and the sluggish job recovery and deep recession of the past decade.

Oped #5: Obama, Jobs, and \’Chamber\’ Games

Jack Rasmus
February 2011
Jack critiques Obama\’s speech to the U.S. Chamber of Commerce, arguing the President\’s newest \’jobs\’ program is to stimulate manufacturing exports and provide more subsidy for multinational corporations, in the hope that manufacturing sector will stimulate the moribund recovery. He explains why it won\’t work, however.

How to Create 15 Million Jobs

Jack Rasmus
\’Z\’ magazine, February 2011
This article explains how to raise $14.7 trillion in progressive taxation on wealthy investors, corporations, and business and use the funds in direct government job creation. Eight specific tax proposals are defined and amounts raised noted. Seven specific job programs are then described and how the tax revenues are allocated to each to create how many jobs is then explained.

The Truth About the December Jobs Numbers

Jack Rasmus
January 2011
The December jobs and unemployment numbers are masked by a variety of statistical assumptions and manipulations, as explained in this article. The true condition of the labor market in the US continues to deteriorate by a number of alternative measures. Here\’s the details of analysis and data.

Paul Craig Roberts\’ Indefensible Defense of Reaganomics

Jack Rasmus
December 2010
A rebuttal to Paul Craig Roberts\’ (Reaganite turned \’liberal\’) recent piece in Counterpunch online, defending Reagan\’s economic record. Jack takes apart his logic and provides extensive data showing the impact of Reagan policies on wages, jobs, pensions, and workers\’ benefits. Republican no-nothings today look back in false nostalgia on Reagan, with no policy for recovery of their own.

Oped 3: How to Create 6 Million Jobs and Save 3 Million Homeowners

Jack Rasmus, December 2010
This short piece explains, and provides data, to show how a payroll tax INCREASE on capital incomes above the current ceiling could provide funding for creating six million jobs and save 3 million homeowners as well without adding a dollar to the budget deficit–in contrast to Obama\’s payroll tax cut.

Oped 2: The \’Repo-Demo\’ Party\’s Three Phase Austerity Plan

Jack Rasmus
December 2010
The Bush Tax cuts extension is just the first of three phases of Obama policies in the next Congress designed to continue to ensure corporations and investors maintain profits, while the remainder of the economy pays for the deficits caused by the subsidization of capital incomes. The dominant elites in both parties are growing closer in terms of policy as the economic crisis drags on. Phase two will be general austerity in the US budget. Phase three will be a general revision of the US tax code in 2012 to benefit corporations and the permanent extension of the Bush tax cuts.

Obama\’s Horns & Predictions 2011

Jack Rasmus
copyright November 2010
Jack considers the two major dilemmas to Obama\’s economic policies: jobs and foreclosures, and how Obama policies have failed to address these central problems to economic recovery. US economic recovery as a result has been for investors, banks, and large corporations only. Obama\’s forthcoming 3rd recovery plan will also fail without proper focus on jobs creation and the simultaneous rising foreclosures (and falling home construction and prices). The article ends with extended forecasts and predictions for the US and global economy in 2011 and beyond.

Historical Parallels and the 2010 Midterm Elections

Jack Rasmus
copyright November 2010
Jack interprets the recent midterm Congressional elections in the US in terms of parallels with past midterm elections. This is not 1994, as conservatives argue. Nor is it 1937, as liberals like Paul Krugman maintain. Jack argues it is most like 1978, and then Democratic party president, Jimmy Carter\’s midterm debacle followed by an even sharper turn to corporate policies. Jack contrasts Obama\’s and the Democrats\’ failure in 2010 to Roosevelt\’s turn toward his base of worker and farmer supporters in the 1934 midterm election, igniting even more support after 1932 and two years of economic stagnation, 1933-34. With Tea party developments \’reforming\’ the Republican party on the right, a Labor party on the left is for the first time in more than seven decades becoming a practical alternative.

Obama\’s Failing Economic Recovery

by Jack Rasmus
copyright October 2010
As predicted in his recent book, Epic Recession, the US economy\’s recovery, already the weakest on record in the post-1945 period despite a $4 trillion bank bailout and $812 billion stimulus, has begun to fade this past summer. Jack assesses the core of that weakness, the jobs dimension and housing dimension. He explains why tax cuts don\’t create jobs, why banks are sitting on $1 trillion surplus and not lending, and why large US corporations are hoarding $1.84 trillion without creating jobs. Jack concludes with historical parallels, arguing the current crisis is most similar to 1934, and not 1937 as liberals maintain or 1994 as conservatives would like us to believe. Given the obvious failure of the Obama recovery, the President is headed toward a 1978, Jimmy Carter-like fiasco.

An Economic Crisis Balance Sheet: 2007-2010

copyright July 2010 Jack Rasmus
Jack sums up the economic crisis over the past three years, commencing with the financial implosion of August 2007, the emergence of recession in late 2007, its spread globally, the banking panic of Sept-Oct. 2008, the onset of the Epic phase of the recession, and the failed Obama recovery. Jack explains why the Obama policies failed to generate recovery of the general economy–jobs and housing in particular–after the banks were bailed out, and why recovery in the second half of 2010 will still not occur.

The Jobs Numbers–Worse Than Reported\’, by Jack Rasmus

Jack Rasmus, copyright May 2010
In a forthcoming article in Against the Current magazine, Jack examines the U.S. jobless picture as of the month of May 2010, and explains how the actual jobless numbers are far greater that officially reported by either the US Dept. of Labor\’s U-3 (official) unemployment numbers or even its broader U-6 unemployment gage. How the BLS manipulates statistics is uncovered, and a view of the broader jobs trend from January 2010 is presented. Whatever jobs gains have occurred, Jack notes, are involuntary part time in the private sector and temp jobs by the federal government–both of which will soon quickly fade.

Value, Price and Epic Recession

by Jack Rasmus
copyright April 2010

In the forthcoming next issue of CRITIQUE magazine, Jack discusses Epic Recession from a more theoretical perspective. Criticizing academic economic theory approaches to price, in which price is a system stabilizer, Jack provides historical evidence and argument that price (and the market system) is instead a destabilizing force causing repeated financial implosions, now growing in frequency. Jack then shows how this thesis might be explained using classic Marxist economic categories so long as major revisions to those categories are developed.

Epic Recession: Prelude to Global Depression, Part 3 (Program for Recovery)

Jack Rasmus, copyright, March 2010
Third in a three part series summarizing Jack Rasmus\’s new book, Epic Recession: Prelude to Global Depression. Part 3: Program for Recovery. Jack offers a critique of the Bush-Obama bank and economic programs, explaining why they fail to produce a sustained economic recovery, how bank bailouts only temporarily stabilize the financial system but cannot lead to general recovery, how traditional fiscal policies fail to generate sustained recovery, and why a fundamental restructuring of the economy is necessary. Jack\’s 28 point alternative program focuses on housing, jobs, tax and bank restructuring, long term income redistribution programs, and proposals to \’tame\’ the global money parade and speculative excesses behind the current crisis.

Epic Recession: Prelude to Global Depression, Part 2 (The History)

Jack Rasmus, copyright, February 2010
Jack Rasmus\’s second in three part series summarizing the main themes of the book, Epic Recession: Prelude to Global Depression. Part 2: The History. Jack examines depressions in the 19th century USA, and the key financial-economic crises of the early 20th century: The Financial and Economic crisis of 1907-1914 (A \’Type I\’ Epic Recession), and the Epic Recession of 1929-1931 (A Type II Epic Recession). Both \’types\’ are compared to the current epic recession of 2007-2010. Type I leads to extended stagnation periods while Type II descends further into a classic depression. 2007-2010 is a Type I but with risks rising it may transition to a Type II circa 2012.

Epic Recession: Prelude to Global Depression, Part 1 (The Theory)

Jack Rasmus, copyright, January 2010
Jack Rasmus\’s first of a three part series in \’Z\’ magazine summarizing the book, Epic Recession: Prelude to Global Depression. Part 1: The Theory. The quantitative, qualitative, and dynamic characteristics of the current epic recession, 2007-2010. Jack explains in new terms how the current crisis is different from both prior \’normal\’ recessions and classic depressions. Why current Obama policies will fail to generate sustained economic recovery. The roots of the downturn in global speculative investing, the global money parade, debt-deflation-default processes, and growing financial and consumption fragility.

Economic Crisis 2010 and Beyond

Jack Rasmus, copyright November 2009
Jack offers 15 predictions for the course of the current economic crisis and the U.S. and global economies for the coming year, 2010, and beyond. Jack reviews the events of 2009 and his January 2009 predictions, then provides new predictions for both the state of the economy and financial system, including jobs, foreclosures, bank lending, defaults, state and local government, sovereign debt crises, the Federal Reserve, stimulus bills, financial regulation, and fate of the dollar.

Financial Instability and Fragility–One Year Later

Jack Rasmus, copyright October 2009
One year after the banking panic of September-October 2008, Jack reviews the condition of the banks and shadow banks in the U.S. He concludes a small number of too big to fail banks have been temporarily stabilized by trillions of Federal Reserve dollar injections, zero interest rates, and rising bank stock prices enabled primarily by suspension of accounting rules. In contrast, hundreds of smaller banks and \’shadow\’ bank institutions are continuing to deteriorate, lending to nonbank companies and consumers continues to contract, new speculative \’bubbles\’ are beginning once again to appear globally, and government debt problems are rapidly growing.

Applications of Ideology in Economic Policy

Jack Rasmus, copyright July 2009
This article explores the ideological proposition that \’tax cuts always create jobs\’ that is common among policymakers in the U.S. since the late 1970s. It explores how in the history of economic thought this was not always the case. In the course of the critique, the meaning of ideology in economic policy is more deeply examined, calling on a synthesis of the meaning of ideology in the works of the philosopher, Ludwig Wittgenstein, and of Karl Marx.

Green Shoots or Stinkweeds: Why Economic Recovery Has Not Yet Begun

By Jack Rasmus. copyright June 2009
18 economic reasons why the economic recovery has not yet begun. Jack debates the prevailing \’spin\’ by press and economists maintaining that the current Epic recession has ended this summer and the economy will snap back in a \’V-shape\’ recovery. There can be no recovery, Jack argues, until the 22 million jobless and continuing housing foreclosures problems are effectively addressed, which has not yet been done by the current Obama administration.

Two Interviews with Organizers of AFLCIO Labor Councils May 9 \’Teach In\’ on the Economy

Dr. Jack Rasmus provides two in depth interviews with WERC (Workers Emergency Recovery Campaign), organizers of the recent May 9 \’Teach In\’ on the economic crisis, sponsored and organized by the five AFLCIO Central labor Councils in the San Francisco Bay Area. Jack was a keynote speaker at the May 9 event, explaining why the current Obama bank and economy bailout will not succeed and why neither the banking sector nor the non-financial economy is now stabilizing, contrary to claims by politicians and bankers. Jack clarifies the current downturn and how it is similar and different from the depression of the 1930s. He suggests alternative ideas for a new jobs and housing sector bailout in lieu of bailing out the banks

The Many Faces of Bank Nationalization

Jack Rasmus, copyright April 2009
Jack Rasmus explains the many approaches to bank nationalization that have arisen since last September. He explains what Wall St. and Alan Greenspan mean by \’nationalization\’ and alternative, non-capitalist versions of the proposal. Why Obama-Geithner-CEOs of the Big Banks are downplaying the idea, and why it will be a topic high on the public agenda within months once again as the current Geithner-Bernanke bank bailout proposals eventually fail.

Obama\’s Busted Bank Bailout

Jack Rasmus, copyright March 2009
Jack Rasmus explains how the recent Geithner bank bailout plan will not result in the sufficient sale of \’bad assets\’ as planned, will enable bankers and wealthy investors to \’game the system\’, and will cost taxpayers trillions more. Jack explains why Geithner shifted the PPIF to a PPIP and how the Fed is turning to the shadow banking system and hedge fund and private equity speculators to bail out the financial system they helped destroy. Finally, how the key drivers of the real economic downturn, job losses and housing foreclosures, are inadequatley addressed in the Geithner plan.

Obama\’s Economic Recovery Plan vs. An Alternative

by Jack Rasmus, copyright February 2009
Jack Rasmus explains in detail his 20 point alternative recovery program submitted in January to the House of Representatives Finance Committee. Jack critiques the Obama $787 billion fiscal stimulus package passed in February by Congress as \’too little too late\’. Jack\’s 20 proposals call for an immediate $1 trillion jobs focused spending and another $1 trillion to stabilize the housing markets by providing interest and principal resets and nationalizing the residential mortgage and small business property markets. His plan includes long term income redistribution to maintain consumption, by means of single payer health care, a national 401k pool, deprivatizing student loans, and restoring unionization rights.

Speculative Capital, Financial Crisis, and Emerging Epic Recession

Jack Rasmus, copyright, January 2009, CRITIQUE Journal
Jack Rasmus provides an initial theoretical analysis of the origins of the current financial crisis and deepening global epic recession in the structural changes in finance capital and shift to speculative forms of investment in particular since the late 1970s; Why traditional fiscal and monetary measures to check the crisis are destined to fail; and why the current debt-deflation driven cycle has still a long way to go and may yet transform into a classic Depression-like event.

20 Million Jobless by Year End 2009

Jack Rasmus, copyright, December 2008
Jack shows how current government statistics grossly underestimate the unemployed and how, when properly calculated, 1 million new unemployed were created in each of the past two months, November and December 2008. Since the recession began in November 2007, 5.3 million more have lost their jobs, for a total of 13 million jobless and an unemployment rate today just under 9%. Jack shows how 5-7 million more, 20 million total, and 13% may be jobless by the end of 2009 if the Obama recovery program proves too little-too late.

Epic Recession Revisited

Jack Rasmus, copyright December 2008
In the following article Jack Rasmus relooks at predictions made last May that mass layoffs and banking failures would occur by the end of 2008, resulting in a new kind of \’Epic\’ recession, that was far worse and qualitatively different from typical post-1945 recessions with 10 characteristics shared with classic Depression events. Read Jack\’s more in depth analysis of Epic recession

Obama\’s Economic Program-Which One?

Jack Rasmus, copyright November 2008
Obamanomics 1 was the president-elect\’s campaign economic program. That has been eclipsed by the banking panic of 2008, credit crash, mass layoffs and collapsing real economy after september. Obamanomics 2 is now in preparation. Will it be enough to contain the crisis, or \’too little too late\’. Jack Rasmus evaluates the limits of Obama\’s first program and raises questions about its subsequent version.

George Bush\’s Ten Toxic Economic Legacies

Jack Rasmus, copyright November 2008
A summary of the disastrous economic legacies of George W. Bush after eight years, including the accumulation of $21 trillion of debt since 2000, the resulting financial crisis, emerging epic recession, coming trillion dollar government deficits, the destruction of health care and retirement, and the historic stagnation of incomes for 110 million workers.

America\’s Failing Economy at Historic Juncture

Jack Rasmus, copyright, October 2008
How the real economy is now accelerting into \’Epic Recession\’ behind the intensifying financial crisis and \’Banking Panic of 2008\’ events of September-October. Jack explains how the Paulson \’TARP\’ bailout is fundamentally flawed. will lead to $1 trillion dollar deficits and fiscal crisis in 2009, and the coming of a general \’austerity\’ program after November. The new motto of Finance Capital: \”From each according to his balance sheet; to each according to is Portfolio\”.

How to No Longer Hide a Declining Economy

Jack Rasmus, copyright September 2008
How the current, real (nonfinancial) U.S. economy is really in much worse shape than reported by US government data, and how US GDP figures are overestimated while unemployment underestimated. Where the financial and real economies in the US are going after the Fannie Mae-Freddie Mac bailouts of early September.

Fannie Mae, Freddie Mac and Phase Two of Financial Crisis

by Jack Rasmus, copyright August 2008
What the near collapse of the two mortgage giants in July means for the deepening financial crisis. Why the crisis of Fannie/Freddie has just begun and will eventually cost more than $200 billion. Their risk to global banking instability. Why Fannie/Freddie should be nationalized.

Is the Economic Crisis Over–Or Just Begun?

by Jack Rasmus, copyright June 2008
Recent economic data for April is being touted as indicating the recession has been averted and the financial crisis stabilized. But more fundamental and widespread data looking beyond just one month indicate both financial crisis and recession are still in development. Rather than the \’beginning of the end\’ the data, and a deeper analysis, show only the \’end of the beginning\’. Read how politicians and bank CEOs are once again manipulating the numbers and why the current crisis will be with us for some time to come.

The Emerging EPIC Recession?

Jack Rasmus, copyright May 2008
As the current financial crisis deepens beneath the apparent hiatus of events since the Bear Stearns Investment bank bailout in March, the recession continues to develop in ways unlike prior postwar recessions in the U.S. How is the present recession different from preceding recessions? What characteristics does it share with major Depressions? Will conditions evolve in the direction of the latter? What\’s a recession, Epic recession, and Depression? are key questions discussed in the article, appearing June 2008 in \”Z\” magazine.

The Deepening Global Financial Crisis: From Marx to Minsky and Beyond

by Jack Rasmus, copyright January 2008
The following is a lengthy article, published April 2008, in the British journal, CRITIQUE, which summarizes the financial crisis through early 2008, and begins to analyze the crisis from a more theoretical perspective by considering it from the perspective of ideas on finance capital and money in Marx and the notable financial Keynesian economist, Hyman Minsky. In it Jack Rasmus explores how \’classical Marxist\’ categories of organic composition of capital and falling rate of profit might be revised to more accurately account for the new role of finance capital in the 21st century.

From Financial Crisis to Global Recession, Part 1

Jack Rasmus, copyright January 2008
Explains the origins of the current financial crisis from the subprime mortgage collapse through the end of 2007 and its spread to other credit markets. Compares the present financial crisis with events of the 1920s and 1930s and explains how the present crisis is increasingly more like those events than like less severe financial instability during the 1980s and 1990s.

From Financial Crisis to Global Recession, Part 2

Jack Rasmus, copyright March 2008
Continues the analysis of the origins, consequences and evolution of the financial crisis from January 2008 through March, and explains how the crisis and massive credit contraction is leading to the deepest and longest recession in the U.S. since the 1930s.

WHO PAYS? How to Finance Single Payer Universal Healthcare

Jack Rasmus, copyright 2007
How to finance $1.6 trillion a year to pay for universal health care, by eliminating insurance companies and middlemen, restoring the tax system to pre-1980 levels, and cutting the payroll tax for social security by 7.7% and taxing capital incomes

The Trillion Dollar Income Shift, Parts 1, 2, AND NOW Part 3

Jack Rasmus copyright 2007
\’Z\’ Magazine, February (Part 1), April (Part 2), May (Part 3) 2007

How more than a $trillion a year is now being shifted from 90 million working/middle class families in America today to the wealthiest 1% households and corporations, as a result of two decades of corporate-government policies radically restructuring jobs, tax system, free trade, health benefits, pensions, social security and other policies. How income distribution in the U.S. is now super concentrated at \’the top\’ and back where it was in 1929 on the eve of the Great Depression.

Welcome To The New World Job Order

Jack Rasmus copyright 2006
\’Z\’ Magazine, December 2006

How 44 million workers in America now no longer have regular full time permanent jobs; how nearly 60 million or roughly 40% of the work force are either unemployed, part time employed, temporary or contract labor, and how this radical structural change in job markets in the U.S., driven by corporate America, is behind stagnating hourly wages and tens of million uninsured.

Tolling the Retirement Bell in America

Jack Rasmus copyright 2006
\”Z\” Magazine, October 2006

How the Pension Act of 2006, U.S. court, and Government Agencies together are working to bring about a collapse of defined benefit pensions that will require a massive taxpayer bailout of a $1 trillion in the next two years.

Executive Pay Abuse: CEOs Take the Money and Run

copyright 2006 by Jack Rasmus
\’Z\’ Magazine, April 2006

How corporate managers in America raised their pay from 35 times to 500 times the average pay of the average worker in their company between 1980 and 2005, a 350% increase, while 100 million American workers got a 1.2 cents per hour per year raise the past 25 years.

How The Other Half Percent Die

copyright 2005 by Jack Rasmus
ILWU \’Dispatcher\’ October 2005

About to pass Congress, Bush\’s latest proposed cuts in Estate Taxes for the wealthiest 1% will mean another $700 billion minimum handout for the rich

Taxes and Economic Class War in America

coyright 2005 by Jack Rasmus
\’Z\’ Magazine, November 2005

After $4 trillion in tax cuts for the rich in his first term, Bush continues to beat the drum for $trillions more for the wealthy with a radical restructuring of the entire tax code

A Tale of Two (American) Cities

copyright 2005 by Jack Rasmus

Hurricane Katrina\’s devastation of New Orleans laid bare the growing class divisions in America. In its wake, Corporate America is poised to reap super-profits in the aftermath.

The Road Back to 1929

“THE ROAD BACK TO 1929â€? copyright 2005 by Jack Rasmus “Zâ€? Magazine, November, 2004 For the first time since 1929, more jobs were lost than created under a sitting President….


The Scourge of Neoliberalism:
US Economic Policy From Reagan to Trump

 









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The Scourge of Neoliberalism: US Economic Policy From Reagan to Trump While the capitalist system has undergone numerous restructurings throughout its history, capitalist elites purpose in restructuring has remained the same: to restore and/or extend their hegemony. The current restructuring, operative since 1978, is called Neoliberalism. The book examines Neoliberalism as both an Idea and an historical practice composed of a particular mix of fiscal-monetary-trade-industrial policies that began with the latest US capitalist restructuring in the late 1970s, continuing to evolve to this day. The book further explains the deeper material forces giving rise to – as well as now undermining – the Neoliberal policy regime, with special focus given to the crisis of Neoliberalism in the wake of the 2008-09 global crash, Obama’s failure to resurrect it, and Trump’s current doomed effort to restore it in a new, more aggressive form. Evidence why Neoliberalism is destroying US Democracy concludes the book’s analysis.

  


Alexander Hamilton and the Origins of the Fed

 









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Alexander Hamilton and the Origins of the Fed Describes how US federal governments, often in cooperation with the largest US private banks, introduced and expanded central banking functions from 1781 through the creation of the Federal Reserve Act of 1913. Based on an analysis of the evolution of the US banking system – from pre-1781, through the 1787 US Constitutional Convention, Congressional debates on Hamilton’s reports to Congress, the rise and fall of the 1st and 2nd Banks of the United States, and through the long period of the National Banking System form 1862-1913, the book shows how central banking in the US evolved out of the private banking system, and how following the financial crash of 1907 big New York banks pushed through Congress the Federal Reserve Act of 1913, creating a central bank which they then managed for their interests.

  


CENTRAL BANKERS AT THE END OF THEIR ROPES?
Monetary Policy and the Coming Depression

 









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Central Bankers At the End
of Their Ropes?
is a comprehensive critique of central banks’ policies in the 21st century, explaining why the massive injections of free money to the banking system since the 1970s enabled the creation of excess corporate debt that has led to financial bubbles and repeated crises. Since 2008 the central banks have bailed out the banks to the tune of more
than $20 trillion, providing a temporary solution to that crisis which, at the same time, is creating conditions for the next. The book addresses the growing contradictions of central banking, why they are failing in their functions, targets and tools, and proposes a radical democratization and restructuring to transform them to serve the public interest and not the private banks.

  


LOOTING GREECE,
A New Financial
Imperialism Emerges

 









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    Looting Greece…

  • Reveals clearly who calls the shots in the Eurozone—the
    hardliners, not the remnants and political residue of what was
    once European social democracy.
  • Follows the negotiations in their excruciating detail as the
    Troika tightens the screws from 2009 to the present.
  • Shows how Europe’s financial elite enriches itself on Greek
    debt, privatizations and financial manipulations, turning Greece
    into an Economic Protectorate.

SYSTEM FRAGILITY IN THE GLOBAL ECONOMY

  












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Sytem Fragility in the Global Economy: Just as contemporary economics failed to predict the 2008-09 crash, and
over-estimated the subsequent brief recovery that followed, economists today
are again failing to accurately forecast the slowing global economic growth,
the growing fragility, and therefore rising instability in the global
economy. This book offers a new approach to explaining why mainstream
economic analyses have repeatedly failed and why fiscal and monetary
policies have been incapable of producing a sustained recovery. It explains
why the global economy is slowing long term and becoming more unstable, why
policies to date have largely failed the trend, and why the next crisis may
therefore prove even worse than that of 2008-09. Systemic fragility is
explained as rooted in 9 key empirical trends: slowing real investment; a
drift toward deflation; credit and liquidity explosion; rising levels of
global debt; a shift to speculative financial investing; the restructuring
of financial markets and labor markets; the failure of Central Bank monetary
policies; and the ineffectiveness of fiscal policies-each trend of which is
addressed in separate chapters in the book. The book concludes with a
critique of mainstream economics, Marxist, and Minskyan approaches to
explaining financial cycles and the author’s own theory of why the global
economy is becoming systemically unstable.

OBAMA’S ECONOMY: Recovery
for the Few  
Book plus video DVD plus 66 slide Powerpoint slideshow









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Obama’s Economy: Recovery for the Few,
explains how the weakest and most lopsided economic recovery since
1947 has been the direct outcome of failed economic policies of
the Obama administration and US Federal Reserve bank since February
2009. The book provides seven specific reasons why Obama’s three
recovery programs since 2009 have failed to generate sustained economic
growth. Tracing the evolution of Obama policies from the election
campaign in 2008 through 2011, the book explains how the US economy
is still continuing on a ‘stop-go’ trajectory of short, shallow
economic relapses followed by weak and unsustained recoveries and
why it will suffer yet a ‘third relapse’, or a worse double dip
recession, in 2013. The book concludes by offering an ‘Alternative
Program for Economic Recovery’, which focuses on new measures to
restore jobs, housing, and local government in the short term that
require major structural economic reforms in the U.S. tax, retirement
and banking systems to implement. Proposals are additionally offered
to reduce household, small business, and local government debt as
well as measures to restore historic rates of income growth for
working and middle class households.

This copy of the book includes a full 1.5 hour video DVD presentation and a 66-slide Powerpoint slideshow. To purchase the book only, scroll down to the next item on this page and click on its "Add to Cart" button.

OBAMA’S ECONOMY: Recovery
for the Few  









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Obama’s Economy: Recovery for the Few,
explains how the weakest and most lopsided economic recovery since
1947 has been the direct outcome of failed economic policies of
the Obama administration and US Federal Reserve bank since February
2009. The book provides seven specific reasons why Obama’s three
recovery programs since 2009 have failed to generate sustained economic
growth. Tracing the evolution of Obama policies from the election
campaign in 2008 through 2011, the book explains how the US economy
is still continuing on a ‘stop-go’ trajectory of short, shallow
economic relapses followed by weak and unsustained recoveries and
why it will suffer yet a ‘third relapse’, or a worse double dip
recession, in 2013. The book concludes by offering an ‘Alternative
Program for Economic Recovery’, which focuses on new measures to
restore jobs, housing, and local government in the short term that
require major structural economic reforms in the U.S. tax, retirement
and banking systems to implement. Proposals are additionally offered
to reduce household, small business, and local government debt as
well as measures to restore historic rates of income growth for
working and middle class households.

AN ALTERNATIVE PROGRAM
FOR ECONOMIC RECOVERY  









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Part 1 of An Alternative Program for
Economic Recovery
explains the seven specific reasons
why the economic recovery under Obama since 2009 has failed for all
but the wealthiest few and largest corporations. Central among the
seven reasons, it is argued, are Obama’s basic failure to develop
programs to provide jobs for 25 million unemployed, to save 11.4 million
homeowners from foreclosure, and to solve the problem of the continuing
deterioration of state-local government finances.

In Part II the pamphlet
offers programs in eight specific areas as an Alternative Economic
Recovery Program: in the short term, programs to create 17 million
jobs, proposals to prevent further foreclosures and stabilize falling
home prices, and to restore state-local government finances; in the
intermediate term proposals are described which would fundamentally
restructure the tax system, the banking system, and the retirement
system necessary to enable the jobs-housing-local government programs;
and in the longer term proposals are offered to prevent a repeat of
the current economic crisis focusing on eliminating today’s massive
debtload weighing on households and government and on raising real
incomes for working and middle class households. The above eight specific
program areas (jobs, housing, local government, bank-tax-retirement
restructuring, and debt-income recovery) are all necessary, it is
argued, for any sustained economic recovery from the continuing recession,
and to prevent an eventual further economic collapse within the next
5 years.

EPIC RECESSION: Prelude to Global Depression









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Epic Recession: Prelude to Global
Depression
is a 336 page book, published May 2010,
by Palgrave-Macmillan (U.S.) and Plutopress (global), that reveals
the deep origins of the current economic crisis, explains why current
Obama policies have failed, and offers an alternative, comprehensive
28 point program for economic recovery. Jack Rasmus explains how
the current crisis is similar to prior Epic Recessions in the U.S.,
in 1907-1914 and 1929-1931, and quite unlike ‘normal’ recessions
since 1945. Rasmus describes how the current crisis is neither a
full blow depression or a short lived contraction followed by a
swift return to growth, but a crisis followed by a period of extended
stagnation that may yet slip into a classic depression. Developing
a new theory of its causes and evolution that departs from mainstream
economic analysis, Jack argues that preventing a possible descent
into depression will require a basic restructuring the U.S. economy
through a massive job creation program, a nationalizing of residential
housing and consumer credit markets, a fundamental restructuring
of the tax system, a new type of Federal Reserve and banking structure,
and measures that restore a long term redistribution of income.

The
WAR AT HOME: Economic Class War in America









$25.00 (no local sales tax) plus $6 shipping by USMAIL domestic
or $25 shipping by USMAIL international, payment via PayPal.

The War At Home: The Corporate Offensive
From Ronald Reagan to George W. Bush
, is a 534 page,
extensively researched, nonfiction book that describes the evolution
of corporate-government policies from 1980 to 2005 that have shifted
more than a $1 trillion dollars a year, every year, from 90 million
American middle and working class households to the wealthiest 10%
and corporations. With more than 500 references and 45 tables and
graphs, the book examines in detail topics such as the Great American
Tax Shift, the 30 Year Pay Freeze, Free Trade and the loss of 10
million jobs, the creation of more than 40 million part time and
temporary jobs, the destruction of unions, dismanting of the postwar
pension and healthcare systems, and the theft by Congress and Presidents
of more than $2 trillion from the Social Security Trust Fund. Solutions
and proposals are offered to reverse the current corporate offensive
at the end of each chapter, as well as a new proposal for reorganizing
the trade union movement in the concluding chapter. According to
labor historian, Harvey Schwartz, if you liked Howard Zinn’s book,
A People’s History of the United States, then “you are going to
love the new book by Jack Rasmus…an excellent complement and companion
to Zinn’s popular work.”

Click to read the book’s Contents and the Preface.

Articles
on Economics and Politics
  
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WHAT REVIEWERS SAY ABOUT THE PLAY 'FIRE ON PIER 32'
"It has been said that the theater houses a nation's soul. If this is true, it can be said that 'Fire on Pier 32' is one place where the soul of American labor resides."

Jack Rasmus Productions
211 Duxbury Court
San Ramon, CA 94583
drjackrasmus@gmail.com
925-999-9789