Following the Economic Lead of a Third World Country
The BBC reported on April 14 that one city in Egypt, Damietta, still has zero unemployment in these difficult economic times. That’s surprising, but what makes this even more surprising is...
Opinion
Orwell’s “1984” Revisited
George Orwell's novel 1984, published in 1949, portrayed a future totalitarian world, ruled by a seemingly omnipotent tyrant called Big Brother. When the actual year 1984 rolled around, the world didn't...
Global Fusion: The G20, IMF, and World Government
Suppose we had conducted a national opinion poll a few months ago to canvass Americans on their opinions of the G20. Most respondents, it is probably safe to say, would not...
Printing and Spending Our Way to Prosperity
ITEM: An editorial entitled "The Federal Reserve acts boldly to ease credit conditions" in the Seattle Times for March 20 commented: "The Federal Reserve decision to pump another trillion dollars [more...
Fiscal 2009 Deficit: $956.8 Billion Already!
After a record $192.3 billion federal budget deficit for March, the U.S. Treasury Department reported a $956.8 billion federal deficit for the first half of fiscal 2009 — already nearly $1...
Obama’s “Glimmers of Hope” for Economy
President Barack Obama’s statement last Friday that we’re “starting to see ... glimmers of hope across the economy” has gotten quite a bit of publicity. What has gotten less coverage is...
“Conspiracy Theorists” Not So Crazy After All
Sometimes one wonders what it will take to wake people up and shake people up. It can become tiresome being labeled a kook, a nutjob, a conspiracy whacko — by both...
G20 Pledges Supersized IMF
The much-ballyhooed G20 London lollapalooza is over, and things are going to change, according to world leaders. “A new world order is emerging, and with it we are entering into a...
Economics a Hot Topic in Woods’ Book “Meltdown”
Today's hard times are prompting people to learn more about the forces that drive our economy, and the book Meltdown, by Thomas Woods, offers an entertaining way to do just that....
Global-currency Call Gets Nod From Geithner, Others
U.S. Treasury Secretary Timothy Geithner has given a nod of approval to China’s call for a global currency to replace the dollar, joining a chorus of international voices that include Russia,...
Geithner’s Nationalization Plan Won’t Work
It’s official: the Obama administration intends to nationalize the entire financial sector. If there were any lingering doubts as to the intentions of President Barack Obama and Treasury Secretary Timothy Geithner,...
Obama’s Charm Offensive for Big Deficits
President Barack Obama is in the middle of his national tour to convince the American public that “we’re doing everything we can to reduce that deficit.” President Obama has been on...
Channeling the Outrage Over AIG Bonuses
The American people are understandably outraged to learn that the American International Group (AIG), a corporate giant that has received almost $200 billion in total TARP/TALF funding, has recently paid $165...
CFR Corporate Members Get Lion’s Share of Bailout Funds
Newspapers are fixated upon $160 million in bonuses given to American International Group (AIG) executives. And it’s nice to know where the millions are going (note: the bonuses could have been...
“Toxic Asset” Plan Based on Fascist Model
The Obama administration’s long-awaited proposal to remove so-called “toxic” mortgage-backed assets from U.S. banks has finally been unveiled, to huzzahs across the globe. Stocks from Tokyo to New York rallied as...