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Tag Archives: Debt

The median American household earns 1/3 less than in 2007

I graduated from college right after the Tech Crash and I experienced the mild 2001 recession first hand. That was the first time we heard the term “jobless recovery.”

Then September 11th happened and in the wake of all the fear both the Fed and the federal government pulled out the stops. The Fed cut rates sharply and soon we were in the midst of a wide reaching war which though they wouldn’t say it out loud, many of the Bushites hoped would have a “stimulus” effect.

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Americans are getting into debt to afford food, gas

Credit is artificially cheap thanks to the Federal Reserve’s unwise experiments of the last 6 years. This cheap credit has filtered down to the consumer to some extent. But now prices are rising (also thanks to the Fed) and this cheap credit is being used by consumers just to make ends meet – again. (While at the same time feeding the rise in the price of consumer goods.)

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The real reason for increased inequality since the early 1970s. The end of the gold standard.

Below is the moment where the USA took a huge wrong turn. This is where we detached from financial reality. This is where the fiat insanity truly began. It’s one of the most important moments in American history, and yet most Americans know little about it.

This is Richard Nixon making a mistake of colossal scale, and one which may in the end undermine the very economy he said he was trying to defend. The man is just truly a tragic figure.

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Pro-Business or Pro-Market: The GOP can’t have it both ways anymore

We’ve said it many times here, and many others have said it before us in other places. Free markets are not typically the friend of big corporations with lots of market share, money, and friends in government. These companies are already fat and happy. Free markets and free prices allow new challengers to enter the marketplace. This brings prices down and quality up. Not what the fat firms want.

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