Jan 20 2009

Bankrupt Consumer: Chapter 7 Bankruptcies up. Credit Card and Consumer Credit Crisis: Americans were Using Consumer Credit as a Lifeline and it is now drying Up Pushing Bankruptcies Upward. $2.5 Trillion in Loans at Risk.

Credit cards have been around for many years with Bank of America creating the BankAmericard in 1958, which eventually evolved into the modern day Visa system.  MasterCard has been around since 1966 and received significant backing from Citibank.  These names are familiar with the current credit crisis.  Credit cards have been one component of the […]

Jan 17 2009

Saving Nation: You Know you Have a Fiscal Problem When Saving Money Actually Becomes a Detriment to the Health of our Economy.

In George Orwell’s dystopian 1984, doublethink was the ability for someone to hold two mutually contradictory beliefs, and accepting them both.  We have now entered into the world when Americans actually saving money is bad for the health of our consumption economy.  War is peace.  Saving is spending.  Our Ministry of Truth is the Federal […]

Jan 15 2009

Fiscal Situation of 50 States: Combined Budget Gaps Estimated at $350 Billon for 2010 and 2011.

It is simply stunning that 44 states are facing shortfalls either for this fiscal year, or will come up short in 2010 or 2011.  This puts virtually the entire country in a difficult financial situation.  It is hard to understand how the media feels that the federal government is somehow better able to get money […]

Jan 12 2009

Homeownership: Is a High Homeownership Rate Good Policy? No. Examining 3 Cycles of Homeownership Data over 100 years and Implications for the Economy.

The current housing crisis has left us with an opportunity to examine the driving issue behind a high homeownership rate.  Is it really worth it to push for an economic policy that champions a high homeownership rate?  The problem with blanket statements is they usually play into herd mentality and feed into group think.  One […]

Jan 10 2009

Fiscal Stimulus: Does Government Investment help the Economy. Examining the Impact of Monetary and Fiscal Stimulus.

The economic difficulties facing our country have for the first time, made the Federal Reserve and U.S. Treasury seem powerless in regards to starting the economic engine once again.  For nearly 100 years, the school of thought was that monetary policy was the driving force for everything.  If inflation was picking up, all you needed […]

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