money-matters

Now Businesses Are Getting Screwed By Subprime Loans

Hamilton Nolan · 05/22/14 01:00PM

Subprime loans. Remember those? The high-interest loans to people with bad credit that successfully brought down the entire economy when banks started handing them out too freely during the housing boom. They're back! With a new class of recipients.

Wack Sports Getting Less Popular

Hamilton Nolan · 05/20/14 11:20AM

Good news, sporting enthusiasts: while "real" sports like football and baseball remain popular among the American public, there are indications that other, wacker sports seem to be falling out of favor.

The City of Portland Is Divesting From Walmart

Hamilton Nolan · 05/16/14 11:34AM

Yesterday, Walmart announced weak earnings in the past quarter. The company blamed the weather. It might do better to blame itself. Walmart's reputation is now so toxic that a major American city is purging itself of investments in the company.

Hamilton Nolan · 05/15/14 02:16PM

Hedge fund manager David Tepper warned yesterday that the stock market is "dangerous right now," and advised against betting on its rise. Today, the markets are down sharply. And that's how David Tepper made $3.5 billion last year.

The Oil Cash Crunch Could Decide the Fate of the Planet

Hamilton Nolan · 05/08/14 11:06AM

The release of the latest White House report on climate change makes clear that the threat posed by global warming can now be declared to be conventional wisdom. Have we finally reached the point where the money people and the environmentalists unite?

Conspicuous Consumption Grows Along With Capitalism's Contradictions

Hamilton Nolan · 05/01/14 11:21AM

As the twin phenomena of regulatory capture and decrepit political structures controlled by a small plutocracy enable a small class of rentiers to accumulate an ever larger share of the world's wealth, our patriarchal society spawns status-obsessed males seeking glory through gaudy displays of finery.

Damn, Why Are Prescription Drugs So Expensive?

Hamilton Nolan · 05/01/14 10:00AM

You might think that the U.S. government's small step towards a national health care system would somehow help bring the cost of prescription drugs down to reasonable levels. You could not be more wrong! You idiot!

Rick Perry Is a Domestic Financial Terrorist

Hamilton Nolan · 04/29/14 10:40AM

Toyota is moving most of its U.S. operations from California to Texas. The state of Texas is paying the company $40 million to relocate. This represents an utterly stupid and useless case of corporate welfare detrimental to the public interest.

Hamilton Nolan · 04/22/14 04:42PM

David Einhorn, one of America's most prominent hedge fund managers, is betting against hot tech stocks, saying "There is a clear consensus that we are witnessing our second tech bubble in 15 years."

Hamilton Nolan · 04/21/14 09:42AM

"The average credit card interest rate for people with fair credit has hit a shocking 21 percent, up more than 2 percent from only a year ago."

The Mega-Rich Get the Best Government Welfare

Hamilton Nolan · 04/18/14 11:42AM

It's great to be rich. It's extra double great to be super rich. And not just because you have all that extra money—because being super rich actually lets you pay lower taxes.

Sad: The Prison Telephone Industry Can't Extort People as Much Now

Hamilton Nolan · 04/18/14 09:46AM

The prison telephone industry is right up there with... well, the private prison industry, when it comes to the most repugnant manifestations of capitalism. The good news is, the industry is currently getting screwed by government regulation. Government regulation works!

How Do We Make Affordable Housing?

Hamilton Nolan · 04/15/14 12:01PM

"Affordable" housing is defined as housing that costs 30% or less of your total income. That is becoming an increasing rarity in America's cities. How do we fix that? It's more complicated than it sounds.