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Each passing day it becomes more apparent that the U.S. economy is not in a real recovery, and this should come as no surprise to anyone who has been paying attention. The stock market, completely divorced from the economic reality of the middle class, continues to surge as a result of taxpayer funded bailout money [...]

The Dow Jones Industrial Average has just surged past 14,000 for the first time in nearly six years. No doubt this bodes well for those on Wall Street who can take advantage of every rise and fall in the stock market – no matter how big or small – and still make oodles of money. [...]

The spat between President Obama and Congress over the looming fiscal cliff is the latest piece of economic drama emanating from Washington D.C. Business owners, workers, unions, and government agencies are all on edge, waiting for the latest developments over how the U.S. will address the crisis of our national deficit and national debt. The [...]

The Trans Pacific Partnership (TPP) is an odd sort of animal with a warm and fuzzy sounding name, but two things are clear about it: (1) it will lead to a loss of U.S. sovereignty, jobs, and control over trade and tax policy, and (2) it doesn’t matter what party is in the majority, this [...]

Make no mistake about it, the economy is not in recovery and continues to teeter on the brink of another substantial downturn. I have explained before how statistical manipulation by the Bureau of Labor Statistics (BLS) results in a picture that is substantially rosier than reality. The fact that BLS and several presidential administrations – [...]

As summer winds down, Europe continues to be mired in the midst of a major financial crisis that began with the global credit crunch in 2007. One by one, countries from Iceland to Estonia, Ireland to Italy, have felt the pain of a major economic contraction that is continuing to gain steam. Greece’s economy has [...]

Times are tough. The United States is undergoing significant economic contractions when it comes to jobs and times aren’t going to get any easier for the foreseeable future. If you are unemployed, this is the time to take your destiny into your own hands. Whether you are a plumber, an attorney, or a retail worker [...]

Many people know that nationally reported inflation statistics do not capture the reality that they experience. For several years running, food prices have dramatically increased. Many shoppers have recognized that food companies have tried to hide the increases by using smaller packages and fewer servings while charging the same price. Fuel prices have fluctuated wildly [...]

Globalization and the welcoming of China into the World Trade Organization have had a marked impact on the American economy. Most people are aware of the fact that American manufacturing has been moving to China and other global manufacturing hotspots for some time now but the rate of industrial relocation is leading to a post [...]

Many Americans can remember when their towns were filled with hundreds or even thousands of small family owned businesses. The prevalence of so many small businesses was at the foundation of vibrant local economies in which millions of families controlled their own economic destinies. As business owners they were fully invested and involved in their [...]

Listen to My Live Interview with Paul C. Wright on Globalization! Globalization has led to an important new paradigm in the political and socio-economic life of American citizens. Whereas once the United States protected its jobs, economy, and sovereignty with trade barriers like import taxes on foreign products, many protections have fallen like dominoes over [...]

The Great Recession in the United States and the collapse of the economies of Greece, Italy, Spain, and several other European nations is revealing an unsettling truth about cash. As banks go bust and taxpayer bailouts of financial institutions continue, even in light of staggeringly high unemployment across Europe and America, politicians have come to [...]

Mark Twain popularized the expression that there are three kinds of lies – lies, damned lies, and statistics. This expression holds particular weight when it comes to the U.S. government’s unemployment statistics. Unemployment statistics create emotional momentum among investment bankers, politicians, small business owners, and consumers alike, and form the basis of what one would [...]

This holiday season millions of Americans, including those in deep debt, will rush to the stores in order to buy dozens of gifts for family members, friends, and for themselves. The economic landscape in America should give consumers pause before they rush out and separate themselves from their hard earned money. Rampant spending during a [...]

The History of The Credit Card It is critical to understand the history and evolution of the credit card to appreciate fully where American households now stand. The world’s first credit card was invented in New York in 1949 when Frank X. McNamara of the Hamilton Credit Corporation created the Diners Club card after forgetting [...]