50 Years Ago: The World in 1963 - In Focus - The Atlantic

50 Years Ago: The World in 1963 - In Focus - The Atlantic

Paulson Leads Funds to Bermuda Tax Dodge Aiding Billionaires - Bloomberg

Paulson Leads Funds to Bermuda Tax Dodge Aiding Billionaires - Bloomberg

There’s Still a Foreclosure Crisis » Counterpunch: Tells the Facts, Names the Names

There’s Still a Foreclosure Crisis Mike Whitney - Counterpunch
A closer inspection of the data suggests that it’s not Mr. Public who’s buying all those homes, but deep-pocket speculators who’ve piled into the market seeking short-term gains. 

Don’t Blink, or You’ll Miss Another Bank Bailout - NYTimes.com

Don’t Blink, or You’ll Miss Another Bank Bailout - NYTimes.com
Late last Wednesday, the New York Fed said in a court filing that in July it had released Bank of America from all legal claims arising from losses in some mortgage-backed securities the Fed received when the government bailed out the American International Group in 2008. One surprise in the filing, which was part of a case brought by A.I.G., was that the New York Fed let Bank of America off the hook even as A.I.G. was seeking to recover $7 billion in losses on those very mortgage securities. 

Cost of Financial Crisis Tops $22 Trillion - Truthdig

Cost of Financial Crisis Tops $22 Trillion - Truthdig

Equal Opportunity, Our National Myth - NYTimes.com

Equal Opportunity, Our National Myth - Joseph Stiglitz - NYTimes.com
According to research from the Brookings Institution, only 58 percent of Americans born into the bottom fifth of income earners move out of that category, and just 6 percent born into the bottom fifth move into the top. Economic mobility in the United States is lower than in most of Europe and lower than in all of Scandinavia.

American Dream died with Dow 49,200 forecast - Paul B. Farrell - MarketWatch

American Dream died with Dow 49,200 forecast - Paul B. Farrell - MarketWatch
Some of the Dow predictions in 2000:

• 15,000 by 2005: Deutsche Bank economist Ed Yardeni, quoted in Barron’s.
  
• 18,500 by 2006: Prudential’s chief technician, Ralph Acampora, quoted in Fortune.
  
• 41,000 by 2008: Harry Dent, author of “The Roaring 2000s: Building The Wealth And Lifestyle You Desire In The Greatest Boom In History.” Wired magazine quoted 41,000 as a peak with the market not bottoming till 2022. Dent has since published “The Great Crash Ahead” and “The Great Depression Ahead.”
  
• 21,200 by 2010: Sheldon Jacobs, publisher of the popular No-Load Fund Investor newsletter hedged his optimistic bet in small type: “But it won’t be smooth sailing. There will be three major bear markets before then.” But long-run, it was optimistic.
  
• 30,000 by 2010: In an interview, Barron’s noted that back in 1989 Frank Jennings, manager of Oppenheimer Global Growth & Income Fund, had successfully predicted the Dow at 10,000 within 10 years. His new Dow 30,000 assumed an “exponential gain of 11% a year.” Later in 2000, Jenning’s optimism was reinforced with the publication of “Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market,” by James Glassman and Kevin Hassett.
  49,200 by 2013: Investor’s Business Daily made this forecast based on an assumed 15% annual growth rate, which was the actual average gain of the Dow from 1982 to 2000, so at the time, it made sense.
  
  

Incomes Flat in Recovery, but Not for the 1% - NYTimes.com

Incomes Flat in Recovery, but Not for the 1% - NYTimes.com
There was a wide gap between the top 1 percent, whose earnings rose by 11.2 percent, and the other 99 percent, whose earnings declined by 0.4 percent. 

Bernanke Says Economy Far From Recovering Full Strength - Bloomberg

Bernanke Says Economy Far From Recovering Full Strength - Bloomberg

Millionaires Say They’re Better Off Than in 2007

Millionaires Say They’re Better Off Than in 2007 - cnbc