It is fair to state that very few people in this country expected or even predicted the financial crisis that we are enveloped in. Over the years, I’ve read essays by people who claim that if we went back to … Continue reading →
This pretty much sums it up, folks: The fundamental problem, as outlined in a post on iTulip, is that debt exceeds the value of the assets that collaterize that debt. There are two solutions to this conundrum: (1) allow deflation … Continue reading →
Wall Street Socialists By Amy Goodman The financial crisis gripping the U.S. has the largest banks and insurance companies begging for massive government bailouts. The banking, investment, finance and insurance industries, long the foes of taxation, now need money from … Continue reading →