Archive

Category: Black Politics

The Rich Still Aren’t Spending Like They Used To

Here’s a fascinating chart from the New York Times: First of all, it’s interesting to see how fast spending plummeted: it declined by a third within the space of less than two weeks. That’s unreal. Second, it shows how effective the UI bonus payments have been. These payments go to the unemployed, who are largely…

Retail Sales Returned (Almost) to Normal in May

Here’s some pretty good news. Retail sales rebounded very nicely in May: Retail sales declined by $79 billion between February and April, but recovered 81 percent of that loss in May. This is only a single month, and it’s not evidence of a “v-shaped” recovery—not yet, anyway—but it’s still good to see. With money from…

Consumer Protection Panel Actually Wants to Deregulate Wall Street, Lawsuit Alleges

Graeme Sloan/AP For indispensable reporting on the coronavirus crisis and more, subscribe to Mother Jones’ newsletters.In October 2019, the Consumer Financial Protection Bureau—tasked with enforcing federal regulations on financial institutions—announced the creation of a new task force to conduct an “objective and independent evaluation” of current financial regulations. On Tuesday, the watchdog group Democracy Forward…