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Disasters Can Happen

Doomed for Failure

by MN Gordon

Economic Prism

Larded Up and Larded Over

We’ve been waiting for the U.S. economy to reach escape velocity for the last six years.  What we mean is we’ve been waiting for the economy to finally becomes self-stimulating and no longer require monetary or fiscal stimulus to keep it from stalling out.  Unfortunately, this may not be possible the way things are going.

In short, the U.S. economy may never reach escape velocity unless it is first allowed to crash.  It has been too larded up and larded over with debt for any real sustainable growth to take root.  More evidence, to this effect, was revealed this week.

For example, the International Monetary Fund (IMF) anticipates the U.S. economy will expand by just (Read More....)

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What Can Obama Do Differently to Fix the U.S. Debt Crisis?

Guest Post By Eric Stratton

Pundits and politicos on both sides of the political spectrum spent the better part of 2012 framing the recent presidential election as a sharp choice between two men with starkly divergent worldviews. Whether delivered by Romney boosters or Obama supporters, the basic message was always be the same: The “other guy” was a dangerous unknown bent on driving the country into oblivion.

Now that the election is over and Barack Obama remains president, this hyperbole and hysteria has mostly vanished. However, the country’s mood remains bleak. The grandstanding of the past year has been replaced with worried whispers about the country’s (Read More....)

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How the Real US Unemployment Number Differs from the Published Figure

Despite what the U.S. government may be reporting these days in terms of unemployment, many surveys conducted seem to claim much higher numbers than many would think. For instance, back in January of 2012, the U.S. government noted the unemployment rate as being around 8.6%, while the American Enterprise Institute (AEI) estimated this number to be more around 15.6%. It is important to note that the AEI’s survey looks at individuals who have been searching for employment over the last year, instead of the last four weeks. Because of this larger sample size, the AEI believes that the unemployment number is almost twice that of what the government actually suggests.

Because of these discrepancies, many economists are telling people to take these headlines of the latest governmental numbers with extreme caution and to simply interpret them at your own risk. To explain this point further, economic commentator and novelist Charles Hugh Smith took a look at a (Read More....)

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