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 in […]
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 […]
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 […]
U.S. Treasury and Fed Determined to Destroy Dollar and Force Savers to Spend: Investing in a Government Hoping for a U.S. Dollar Collapse.
Tuesday’s action by the Federal Reserve has placed us into the history books. The Fed cut the federal funds rate to an unprecedented 0.25% and gave a rather firm statement that they are prepared to keep the rate at this low level as long as the markets deem it necessary. When asked why they didn’t […]