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

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

by Paul C. Wright If you are one of the millions of Americans locked into long term debt service, your road to debt serfdom was likely paved by a mortgage, home equity loan, credit cards, or a combination of all three. When the U.S. economy began to melt down in 2007 and entered a rapid