Jack Rasmus

Jack Rasmus

Jack Rasmus is a Professor of Economics at St. Mary’s College. He is the author of Epic Recession: Prelude to Global Depression (Pluto Press - 2010) and Obama's Recover: Recovery for the Few (Pluto Press - 2011).  He has been a business economist, market analyst, vice-president of the National Writers Union and elected local union president and organizer for various labor unions. His website is: www.kyklosproductions.com. Follow him on Twitter: @drjackrasmus.


Articles by this author

Thursday, May 1, 2014

A May Day 2014 Lament for American Labor

Today, May 1, 2014, is International Labor Day. It is worth summing up how well American workers—and their unions—have fared over the past year; since the so-called economic recovery began in mid-2009; and for the recent decades preceding.What’s happened to jobs, wages and incomes, health and retirement security,...
Friday, March 28, 2014

Ukraine’s IMF Deal Means Greece-Like Depression

On Thursday, the IMF released the broad outlines of its terms and conditions for loans and other measures for the Ukrainian economy.
Thursday, March 24, 2011

The Truth Behind the Public Pensions Funding Gap

State governors across the nation, led by newly elected right wing Republicans (with several Democratic governors in tow), are whipping up anti-union sentiment by declaring public workers and their unions are the cause of state budget deficits.  They argue that various labor costs are driving up their deficits, but the lead cause of those labor costs is overly generous increases public employee pension benefits.  
Tuesday, February 15, 2011

President Obama, the Jobs Crisis and Corporate America’s Game Plan

On February 4, the Labor Department released its latest jobs report for the month of January. It showed a deep decline in net jobs created—only 36,000 last month, according to the Bureau of Labor Statistics (BLS).
Wednesday, January 26, 2011

Obama’s State of the Union: No Jobs but More Business Tax Cuts

Not a word about the 25 million still jobless. Nothing about how to help the more than 7 million homeowners who have, or the additional 4 million who will soon, face foreclosures and evictions. Absolute silence about the dozens of states and hundreds of local governments in deepening fiscal crisis and approaching bankruptcy-and the hundreds of thousands of public employees who will pay for that bankruptcy with their jobs, wages, pensions, and health benefits. OK, some vague references to infrastructure and alternative energy jobs-over the next 25 years.
Thursday, December 23, 2010

The ‘Repo-Demo’ Party’s Three Phase Austerity Plan for America

The Bush tax cuts are now extended. What cost $3.4 trillion over the past decade, 80% of which accrued to the wealthiest households and U.S. corporations, will now cost another $802 billion over the next two years and a projected $4 trillion over the coming decade. 
Monday, December 6, 2010

Why Tax Cuts Don’t—and Won’t—Create Jobs

Last Friday, December 3, the U.S. Department of Labor announced that the unemployment rate had risen once again. A full three years after the current recession began in December 2007 there is no end in sight as to when the jobs markets will recover. This is in stark contrast to the full recovery of corporate profits and bankers bonuses, now back roughly to where they were in 2006-07, according to U.S. government data.