The 99 Percent

OF ALL the many banners being waved around the world by disgruntled protesters from Chile to Australia the one that reads, “We Are the 99%” is the catchiest. It is purposefully vague, but it is also underpinned by some solid economics. A report from the Congressional Budget Office (CBO) points out that income inequality inContinue reading “The 99 Percent”

A reverse bail-out, governments file flury of lawsuits against lenders

In a relentless flury of lawsuits, federal state and now county governments are filing lawsuits against lenders alleging both novel and old causes of action. Most recently, the lawsuits are reviving the the three-year-old “MERS produce the note” argument, only now the plaintiffs are governments as opposed to homeowners. Most every judge in big citysContinue reading “A reverse bail-out, governments file flury of lawsuits against lenders”

Keep Comparing the Great Recession to the Great Depression

THE BUILDING OF HOOVER DAM DURING THE GREAT DEPRESSION KEPT VEGAS ON THE MAP The Great Recession is not as crushing as the Great Depression, but President Obama’s problems in the face of economic turmoil are beginning to look like those of Herbert Hoover, the President during the beginning of the Great Depression. The stimulusContinue reading “Keep Comparing the Great Recession to the Great Depression”

The Great Recession my final word

Signs of collpase are everywhere. With economic security an uncertainty, marriages are being postponed at record numbers. To many Americans, capitalism seems beyond repair. Unfortunately the problem is without a solution. When historians and economists look back at the Great Recession, most will conclude there was no solution. What makes the Great Recession so appallingContinue reading “The Great Recession my final word”

America won’t look for its decade

The Federal Reserve on Wednesday cut its forecasts for U.S. economic growth, but offered no hint of action. The Fed looks set to take a break, sit on the bench awhile and watch the game unfold. Nice. The Fed downgraded its view of the labor market, saying it had been “weaker than anticipated” and pushedContinue reading “America won’t look for its decade”

Will Boomer’s resist economic policies that favor rapid recovery?

AMERICA CAN AVOID JAPAN’S MISTAKE Ageing societies prefer to sacrifice the young to a long period of slow growth rather than erode the savings of older voters; that is one reason why the Great Recession is dragging on. What? The United States recovered from the Great Depression by instituting an economic policy of debt reductionContinue reading “Will Boomer’s resist economic policies that favor rapid recovery?”