Confidence in Hard Economic Times

The chattering class in Washington DC and elsewhere is abuzz with concern about the “fiscal cliff”, involving legislation passed in the summer of 2011 requiring tax increases and spending cuts to decrease the exploding US Federal deficit. The Washington Post suggests that this “fiscal cliff” would raise taxes over $2,000 per year on many middle… Read More Confidence in Hard Economic Times

The Financial Crisis and the Concentration of Financial Power

One of the most troubling realizations during the financial meltdown of 2008 was that some companies were “too big to fail”. Chrysler and General Motors were “too big to fail” because of their strategic importance to American industry and because of the thousands of jobs that would be lost if they collapsed. So they received… Read More The Financial Crisis and the Concentration of Financial Power