By John Tamny

As someone who graduated from college in 1992, I remember vividly the downcast economic outlook for me and my fellow graduates. Those who entered the real world in 1974 and 1980 no doubt faced similarly bleak futures.

“Generation X” was the blanket adjective foisted on college graduates of the early ‘90s period, and with the U.S. economy still on weak footing following the 1990-91 recession, conventional wisdom said my supposed Read More »

• 0 Comments

By Peter Morici

As Italy teeters on insolvency and the euro on collapse, European leaders are desperately seeking amendments to EU treaties that would legally limit national budget deficits.  However, a new fiscal discipline would not address fundamental flaws in the euro architecture that caused Mediterranean states to become uncompetitive and borrow too much.

In the last week, Germany could not sell a significant share of a new bond offering, France and other stronger Read More »

• 0 Comments

By The Economic Collapse

Does anyone need any additional evidence that our political system is completely broken?  The bipartisan congressional supercommittee that was given two months to come up with at least $1.2 trillion in deficit cuts over the next decade has failed to reach an agreement.  It is an epic failure and a national embarrassment.  The truth is that they never even came close to an agreement. In fact, as you will Read More »

• 0 Comments

It’s time to think what hitherto markets have regarded as unthinkable – that the euro really is on its last legs.

By Jack Kneafsey

These comments are part of what I believe is a very important commentary from Jeremy Warner at The Telegraph in London. Specifically, both he and I believe that we may have reached a “tipping point” in the ongoing Eurozone sovereign crisis, when, by all accounts, the recent auction of Read More »

• 0 Comments

By Bill Bonner

What did you give thanks for, Dear Reader?

Our thoughts turned to house, hearth, family, friends…

…and to rich people.

Yes, dear reader, we gave thanks for the wretched 1% of the population that has made such spectacular financial progress over the last 10 to 20 years. They are reviled. They are hated. They are criticized and blamed. Poor things! What have they done to deserve it?

The typical working stiff earns less real Read More »

• 0 Comments

EDITOR’S COMMENT: Here is an interesting proposal by John Muellbauer and VoxEu.org for dealing with the current stalemate of bailing out the weaker European countries. Basically, his proposal would NOT be a bailout, but would involve issuing “conditional” bonds, bought, for example, by Germany itself, and bypassing the bureaucracy of the EU. My own current thinking on all this is that, given all the political and historical issues involved with the EU Read More »

• 0 Comments

By Peter Morici

President Obama and his supporters are portraying the failure of the Super Committee to slash the budget deficit by $1.2 trillion over ten years as endangering the already weak economic recovery. This is absolute sophistry.

A deal acceptable to Democrats would have raised taxes on the wealthy and corporations by $25 to $50 billion, annually, and cut spending, disproportionately on defense but some other programs too by $50 to Read More »

• 0 Comments

By Peter Schiff, CEO of Euro Pacific Capital

With fiscal time bombs ticking in both Europe and the United States, the pertinent question for now seems to be which will explode first. For much of the past few months it looked as if Europe was set to blow. But Angela Merkel’s refusal to support a Federal Reserve style bailout of European sovereigns and her recent statement the she had no Hank Paulson style Read More »

• 0 Comments

By John Tamny

Though it made the front page of USA Today last week, a headline about individual U.S. mobility drew little comment from the economic commentariat. This is odd given the economic peril it signals, particularly in light of the high rate of unemployment in the United States.

According to the USA Today account of Census Bureau statistics, only 11.6% of Americans changed their addresses from 2010 to 2011, “the lowest rate Read More »

• 0 Comments