Public Sector Banks: From Black Sheep to Global Leaders

brazilian money

Ellen Brown: When we remove our myopic U.S. blinders, it turns out that globally, not only are publicly-owned banks quite common but that countries with strong public banking sectors generally have strong, stable economies.

Atlas Wept: Exposing the Absurdity of Ayn Rand’s Ideology of Objectivism

Atlas

Did Atlas shrug in response to the economic credit crisis in the fall of 2008? Don’t be too quick to answer. First ponder this question: Do you think there is more contempt and arrogance in the world today than ever before? About the same? Less? Arrogance, by my definition, is an offensive display of assumed [...]

What Should Be Done With The Next $350 Billion of Taxpayer Bailout Money: Criteria for TARP II

obama_tightrope

It’s difficult to make the case that the first $350 billion bailout of Wall Street — so-called “TARP I” — fulfilled its goals, unless one argues that the Street would have imploded without it, which is pretty much what Hank Paulson is saying these days. And since it’s impossible to prove a counter-factual, especially when [...]

Shall We Call It a Depression Now?

economy

by Robert Reich – Friday’s employment report, showing that employers cut 533,000 jobs in November, 320,000 in October, and 403,000 in September — for a total of over 1.2 million over the last three months — begs the question of whether the meltdown we’re experiencing should be called a Depression.

Another Great Depression?

great-depression

The United States is in the midst of the worst financial crisis since the Great Depression. The question is: How close are we to another Great Depression? The answer is: Very close. Here’s why. The Great Depression was the result of the combination of the 1929 financial crisis and serious structural problems in the American [...]

Is the End Near for the Poorest Rich Nation on Earth?

When I was a kid in Milwaukee, there was a guy who walked up and down Wisconsin Ave., the main drag, wearing a sandwich board proclaiming, “Repent! The End Is Near.” Of course, he meant his warning in a “come to Jesus now” sort of way. But if the fellow is still alive, I hope [...]

The Housing Crisis: Why the Roof Fell In

The Housing Crisis

By now everyone with a roof over his head has heard about the subprime mortgage mess. Understanding why so many homeowners are defaulting on their mortgages or what mortgage foreclosures have to do with the collapse of the housing market, however, is another matter. To get a better grasp of the mortgage mess I called [...]

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