“The administrati0n’s stimulus program has failed.” Thus began an op-ed by economist Allan Meltzer, of Carnegie Mellon University, in the Wall Street Journal of June 30. Yes, the gazillion dollar splurge failed – but not for the reasons Meltzer, or any other critics of Barack Obama’s administration tend to push. The stimulus bill failed because […]
And you thought your country had problems… Imagine this: Singapore reported a blistering 19.7% SAAR* GDP drop in the first quarter of this year. That comes after the 16.4% registered drop in Q4 2008. I guess that’s the price you pay if you’re a one-trick pony. Which in this case is Singapore’s dependence on its […]
The housing bubble that burst is different from any other bubble in recent times. The economic crater it caused is also much more frightening than anything seen in 50 years.
“Ever get the feeling you’ve been cheated?” shouted John Lydon, singer of The Sex Pistols, at the end of their last (real) gig. One can only wonder how many Americans wake up each morning, and feel that somehow they’ve been cheated as well. Millions of them grew up with mom and dad telling them they […]