We have repeatedly been told that the U.S. economy is “booming”, but meanwhile the middle class in the United States continues to be hollowed out. The financial bubbles that the Federal Reserve has created have been a great blessing for those at the very top of the economic pyramid, but most of the country is…
If the economy is doing just fine, then why is homelessness at levels not seen “since the Great Depression” in major cities all over the country? If the U.S. economy was actually in good shape, we would expect that the number of people that are homeless would be going down or at least stabilizing. Instead,…
Barack Obama is about to become the 20 trillion dollar man. With less than two months to go in his second term, the U.S. national debt stands less than 150 billion dollars away from the 20 trillion dollar mark. And at the pace that the debt is increasing, it seems almost certain that we will…
The Dow closed above 18,000 on Monday for the first time since July. Isn’t that great news? I truly wish that it was. If the Dow actually reflected economic reality, I could stop writing about “economic collapse” and start blogging about cats or football. Unfortunately, the stock market and the economy are moving in two…
Did you know that there are more than 1.8 trillion dollars worth of junk bonds outstanding in the United States alone? With interest rates at record lows all over the world in recent years, investors that were starving for a decent return poured hundreds of billions of dollars into high yield debt (also known as junk bonds).
Last time around it was subprime mortgages, but this time it is oil that is playing a starring role in a global financial crisis. Since the start of 2015, 42 North American oil companies have filed for bankruptcy,130,000 good paying energy jobs have been lost in the United States, and at this point 50 percent of all…
[photo caption/credit: Heavyweight Champ Joe Louis “You Can Run, But You Can’t Hide” (courtesy Google Images)] Before declaring bankruptcy in 2008, Lehman Brothers was the fourth-largest investment bank in the US. It’s bankruptcy nearly toppled the US and global economies and helped precipitate the “Great Recession”. When Lehman Brothers filed bankruptcy, its assets were only…
[Photo caption/credits: Inflation or Deflation? (courtesy Google Images)] “timmy” is one of this blog’s regular readers. He recently posted the following comment on one of my previous blog entries: “I’ve been hearing about the demise of the dollar for twenty years, as it continues to hit cyclical highs, with no end in immediate sight…. long term,…
[Photo caption/credit: South Korean Flag courtesy Google Images] I published Part I of this article (IMF Colonized Korea—Part 1 (the “Agreement”)) two weeks ago. Here’s Part II–the “Evidence” supporting my contention that the IMF colonized South Korea in A.D. 1997. This total article is a long, hard read. It’s not for everyone. But if you…
I first wrote and published most the following article in A.D. 1998. It’s too long to be presented as a single article in this forum, so I’ve divided it up into “Part I—Description” and “Part II—Evidence”. This week, the Description; next week, the Evidence. I’ve also edited the original article, added some comments, made a…
