Apr 26 2009
20,000 Americans Lose Their Job Each day but we Still Bailout Wall Street and Banks: 4 Charts Highlighting this Historical Financial Crisis. GDP, Inflation, Industrial Production, and Excess Reserves.
Four banks and one credit institution failed on Friday. This is now becoming a common Friday ritual. On February 13 four banks were also taken over by the FDIC. Multiple bank failures on one day are now growing in size. Yet the FDIC is quickly blazing through their insurance fund and soon, the taxpayer [...]
Mar 16 2009
The Long Depression of 1873: Parallels and Comparisons. Are we Missing Economic Information from an Important Piece of American Financial History?
There have been many comparisons to the Great Depression with our current economic crisis. Massive speculation, rampant problems in the banking system, and exponential jumps in unemployment. Yet we may have a lot to learn by looking at the former Great Depression known as the Long Depression. The Long Depression lasted 65 months starting [...]
