Klein's Commentary

Go beyond the headlines

What Really Ails America This Election Season

The internet is abuzz with criticism of Niall Ferguson’s factually-challenged rebuke of President Obama’s performance in the latest Newsweek cover story. His views include a steady stream of slanted statistics circulating these days (which is not to say there aren’t reasonable criticisms out there). But that’s nothing new for the historian turned pundit. Consider his…

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World Politics Review Article on the Global Middle Class – Part II

The damage done to the global middle class, while significant, is not irreparable. The solutions are as varied as the countries themselves, but they all share several key features that influence whether a consumer-driven economy will flourish or not. First and foremost is access to capital for small and medium-sized enterprises. In developed and developing…

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Tokyo Cafe

Blog Series: The Middle Class – Engine of Innovation

Consider this: The greatest inventions of the modern age— from the light bulb and the telephone to antibiotics, airplanes and the computer— were all made possible by the purchasing power of the middle class. Without this market much of what has redefined the way people live today would never have been successfully developed. While early…

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Good Times Gone Bad

Blog Series: Rebuilding the Global Middle

Part I: Good Times Gone Very, Very Bad – It seems like a quaint folk tale told to schoolchildren. Study, work hard, and you too can live happily ever after. The American Dream, each generation better off than the last meant true upward mobility. Skills rather than birthright defined success. It’s been the mainstay of…

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Global Economic Downturn Gathers Pace

Wishful thinking aside, the global economy appears more fragile than ever. After promising signs earlier this year of sustained (if not accelerating) U.S. growth, new employment figures continue to disappoint with a mere 80,000 new jobs for June (see “The Jobs Week That Wasn’t” for longer term implications.) The IMF revised growth estimates down to…

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The Week That Was (and Wasn’t)

Walking Backwards into the Future – In a 5-4 Supreme Court ruling upholding President Obama’s healthcare bill the U.S. finally joined the rest of the developed world of 60 years ago with universal coverage. China joined the space world of 50 years ago with a successful orbital docking mission, including a safe return to earth of…

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Walking Backwards Into the Future

In a 5-4 Supreme Court ruling upholding President Obama’s healthcare bill the U.S. finally joined the rest of the developed world of 60 years ago with universal coverage. Perhaps Americans can now rest a bit easier knowing that in 2014 they won’t be denied healthcare for pre-existing conditions. The 20-30% annual premium increases may even…

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Mid-Day Note: Global Economic Data Disappoints

U.S. economy still lags. Today’s U.S. housing and consumer confidence figures failed to signal a real economic rebound. This after Moody’s downgrades of fifteen banks last week, including Goldman Sachs, and earlier Federal Reserve data* showing U.S. household net wealth plunging over 40 percent between 2007-2010. That’s an entire generation of wealth creation gone in…

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BLS Employment ('02-'12)

The Jobs Week That Wasn’t

Bad news on U.S. employment numbers last week (a paltry 69,000 new jobs) left many wondering how long it might take for this economy to reach escape velocity from a slow burn. A scrappy little California start-up, SpaceX, made it to the international space station and back. What’s taking the rest of the country so…

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