Financial repression is an important idea in the modern policy context. It denotes an environment where interest rates are artifically low with the intention of helping one or more sectors of the economy, at…
Tag: wealth
If most Americans had to choose between saving and spending, they would decide to join the spending team. Americans are so drawn to spending that they will even purchase items theycannot afford. Another recent…
“To forget one’s purpose is the commonest form of stupidity.”— Friedrich Nietzsche History is not always progressive; there have been many instances of extensive regression. Immoral institutions can more easily become worse than better. When the…
The United States has collapsed economically, socially, politically, legally, constitutionally, and environmentally. The country that exists today is not even a shell of the country into which I was born. In this article I will deal with America’s economic collapse. In subsequent articles, I will deal with other aspects of American collapse. Economically, America has descended into poverty. As Peter Edelman says, “Low-wage work is pandemic.” Today in “freedom and democracy” America, “the world’s only superpower,” one fourth of the work force is employed in jobs that pay less than $22,000, the poverty line for a family of four. Some of these lowly-paid persons are young college graduates, burdened by education loans, who share housing with three or four others in the same desperate situation. Other of these persons are single parents only one medical problem or lost job away from homelessness. Others might be Ph.D.s teaching at universities as adjunct professors for $10,000 per year or less. Education is still touted as the way out of poverty, but increasingly is a path into poverty or into enlistments into the military services.
Who’s buying our democracy? Wall Street financiers, the Koch brothers, and casino magnates Sheldon Adelson and Steve Wynn. And they’re doing much of it in secret. It’s a perfect storm: The greatest concentration of wealth…
Over Holy Week, the days before celebrating the resurrection of Jesus on Easter, Christians are called to meditate on Jesus’ last days. On Good Friday, in churches and often in city streets, it is customary…