ferguson

Government's New Credit Approach: Does the End Justify the Means?

Peter Schiff's argument only makes sense if one ignores the predatory practices of credit card companies in the pursuit of profit at the expense of responsible lending and borrowing. The rapacious onslaught of commercial forces on the pocketbooks of ordinary Americans has precipitated a catastrophe which, in retrospect, can be seen to have been both inevitable and necessary. The out-of-control consumption machine has been derailed. Perhaps we need to consider a return to living within our means and in harmony with the natural world which we call home. In case anyone doubts the compelling seriousness of the issue, they chould consult the third edition of "Earth From Above," by Yann Arthus Bertrand.

Obama Summarizes Economic Policies, Misses Several Key Points

College student thinks Peter Schiff should be president. I agree he should be president of something. Just like George Bush, he should be the permanent president of his college fraternity where the power of the president to do damage to the nation and the world is suitably contained.

Market Death Spiral Continues

Know nothing is at least honest in choosing a moniker. The problems in the U.S. economy go back 60 years, when post WWII consumerism was unleashed as the dominant force in our economy, eclipsing work and productivity. As long as the middle class was able to hold its own in that economy, we were able to survive many challenges because we had broad based wealth and broad based purchasing power.

Globalism and trickle down economics have pulled the rug out from underneath the masses who are now seen as nothing more than a source of sales for the pools of capital that serve the still wealthy.

Obama is rightfully seeking to reverse this slide toward national poverty. The nation will be much better off when the national wealth is shared more fairly and the masses have sufficient purchasing power to maintain a decent standard of living. Even the wealthy will be better off, because it was the mistaken trajectory under Reagan, Bush, Clinton and Bush which has taken us over this economic cliff.

Financial Meltdown: Good Luck, Bad Luck, Who Knows?

Jim Kingsdale wrote

For another, it is hard to be philosophic in the face of a loss, especially a great loss.

The mention of philosophy in this context suggests that it might be time to cite the Greek philosopher, Epictetus, i.e.,

"It's not what happens to you, but how you react, that matters."

Financial Meltdown: Good Luck, Bad Luck, Who Knows?

Jim Kingsdale wrote,

For another, it is hard to be philosophic in the face of a loss, especially a great loss.

U.S. Economy: There Are No Problems, Only Solutions

Terrific argument by James Quinn on behalf of a simpler and better life, free of the economic catastrophes that beset us. I would opt for it in a minute.

Unfortunately, the standard of living to which the American people are accustomed to is built on a very complex system of production, distribution and financial interaction that is worldwide. Whether this is a good or a bad idea is less relevant than the facts that it is a reality and that making dramatic changes will have convulsive and unpredictable consequences.

Of course, it is also possible to observe that continuing down the current path of financial and technological integration around the globe is already having convulsive and unpredictable consequences. True enough.

The only point I am trying to make is that we have to be both visionary and careful in how we proceed and recognize that, as usual, it is likely that neither extreme is liable to be right to the exclusion of the other. There is nothing in the globalization of food production, for instance, that prevents me from growing food on my one-half acre.

Fortunately, the American people in their wisdom, have elected whose capacity for vision and care seem to be well balanced. My opinion is that Barack Obama will deserve and need our support in order to chart a course forward.

Economy Loses 240,000 Jobs in October, Defines Obama's Challenges

Great article. Obama and the team he brings into office are going to have to be brilliant and visionary and, at the same time, pragmatic and tough as nails. A centrist policy and a few concrete actions early on jobs, infrastructure and energy will secure the support he needs to address the deeper, longer range problems in health care, entitlements, education and the environment (not necessarily in order of priority).