Posts under ‘Economy’

I was a bit apprehensive when I posted the essay by Chris Hedges, for it is a pessimistic, gloomy article that, as several friends wrote me privately, focuses on the probable outcome of our present difficulties if we don’t change. Those who responded said that while they had no difficulty reading gloomy articles, there [...]

While Congress argues over the rescue plan put forth by Obama, the economy continues to decline, by almost any measure used. The following article, which was published on TruthDig, is quite interesting. It is very sobering and, in the words of a friend of mine, it “is probably closer to reality than we [...]

It is fair to state that very few people in this country expected or even predicted the financial crisis that we are enveloped in. Over the years, I’ve read essays by people who claim that if we went back to the gold standard, our problems would be solved. These writers, usually influenced by Murray Rothbard [...]

This pretty much sums it up, folks:

The fundamental problem, as outlined in a post on iTulip, is that debt exceeds the value of the assets that collaterize that debt. There are two solutions to this conundrum: (1) allow deflation and preserve a strong currency, as Japan did in the 1990s or (2) allow inflation [...]

Wall Street Socialists
By Amy Goodman
The financial crisis gripping the U.S. has the largest banks and insurance companies begging for massive government bailouts. The banking, investment, finance and insurance industries, long the foes of taxation, now need money from working-class taxpayers to stay alive. Taxpayers should be in the driver’s seat now. Instead, decisions that will [...]