We live in what might be called a prodigal son delusion. People suffer from the temptation to live prodigal lifestyles in which they engage in the frenetic intemperance of demanding everything instantly and effortlessly. Such a state promises happiness to those who follow the program to the end. However, it does not … Read more
Ten years have passed since the 2008 subprime mortgage crisis. It was the worst financial panic since the Great Depression. Now it seems that some of the lessons learned back then are being forgotten. Growing debt burdens in emerging markets are igniting new fears of a crisis that could shake economies everywhere. … Read more
There are many issues that President Trump can solve. His first great accomplishment was solving the election. Almost all conservatives adopted a thank-God-it’s-not-Hillary approach to the Trump presidency. There was a general sigh of relief over a bullet dodged. As time passes, the administration now stands on its own merits beyond being … Read more
It is official; the national debt has now exceeded $21 trillion. The tragic news comes just six months after it hit $20 trillion last September 8. This problem is obviously not going away. By voting to suspend the debt ceiling, Congress has allowed the government to borrow as much as it needs until … Read more
Young people get blamed for a lot of things. They’re called snowflakes for withering and melting at the least criticism or politically incorrect commentary. They are deemed irresponsible and accused of merely “adulting” when they manage to handle the life decisions typical of adults. And now the Department of Education’s latest financial … Read more
Everyone acknowledges that this is not an ordinary election cycle. Almost as confusing as the campaign events are the explanations of those trying to explain why so many bizarre things are happening. Everyone has a take on the political carnival. Everything seems to be a confused mess. However, if one observes closely, … Read more
It is no secret that middle-class Americans are angry at the government and the general state of things. The so-called anti-establishment candidates appear to be channeling that rage to their camps. It is a raw undefined rage that is based more on frustrations and emotions than on concrete facts or convictions. People … Read more
Everybody is looking for ways to describe the dire state of the world economy. Some have used Crisis with a capital C, a sinking Titanic or a perfect storm. These are all dramatic expressions to describe a very serious situation. However, the latest metaphor being used is even more dramatic. Leading economists … Read more
As the nation heads into the next election cycle, there is much frustration, angst and anxiety directed at a system that does not seem to work. Everyone senses there is something terribly wrong with the country. The worst part of this growing malaise is the feeling that no one seems to know … Read more
As the fall semester begins, students are attending classes and incurring great debt. A July report of the Federal Reserve Bank of Philadelphia finds that student loans have increased tenfold since 1999. Even worse is the acceleration of this debt over the last eight years. Since 2007, loans doubled from $537 billion … Read more