Tag Archives: default
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
Rising Food Prices are No Laughing Matter
The Commerce Department reported on Wednesday that wholesale inventories rose 0.5 percent in August. What’s more, according to the Commerce Department sales at wholesalers rose 0.9 percent in August…the first increase since April. What this means exactly we don’t quite … Continue reading
When the Gravy Train Jumps the Tracks
The future consequences of all that has been done to the financial system and the economy over the last four years – from late 2008 to the present – are largely not understood. There seems to be some broad impression … Continue reading
