Category Archives: Government Debt
How to Fix America’s Debt
Third quarter Gross Domestic Product increased at a 2 percent annual rate, reported the Commerce Department last Friday. That’s up from the second quarter’s 1.3 percent growth rate. But don’t get too excited… According to Lucia Mutikani at Reuters, the … Continue reading
“The Bank Was Saved, and the People Were Ruined”
“The Bank Was Saved, and the People Were Ruined” By Jeff Thomas, International Man The above quote is from William Gouge, commenting on the Panic of 1819. The panic had been caused when the First Bank of the United States … Continue reading
More Credit, More Debt: Lessons from the Last Great Unraveling
“The lord giveth increase, but man devised credit.” — Garet Garrett Solving the Debt Problem with Credit Something quite remarkable happened in the years following the war to end all wars. European economies were ruined and European governments were buried … Continue reading
Disgraceful and Insulting
New discoveries were made on the economic front last week. The Labor Department reported that 163,000 jobs were added in July. Yet even with the new jobs, the unemployment rate rose to 8.3 percent. “We’ve still got too many folks … Continue reading
