Word: consumerized
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The latest economic news hasn't been encouraging. Gas prices reached an all-time high earlier this month. For the first time since 1991, quarterly home prices declined, according to the S&P/Case Shiller U.S. Home Price Index. And yet analysts were surprised by the unexpected rise in consumer confidence...
The result is not just the oil lobbyist caught editing science out of climate reports, or the energy lobbyist convicted in the Abramoff scandal. It's the scandal-free corporate welfare, tax breaks and other Big Government goodies for industry. Baroody is a family man, a policy wonk whose father...
Ever since the late 1970s, America's appetite for foreign oil, cars and consumer electronics has resulted in trade deficits that can be financed only by attracting investment from overseas. Since 1986, the U.S. has been a net debtor--to the tune of $2.7 trillion at the end of 2005...
If that keeps up--and all indications are that it will, especially if China and the gulf states prove to be savvy investors--the U.S. will effectively be sending big checks abroad each year to pay for good times past. Which is money Americans won't be able to spend...
What Price really tests is how to be a capitalist: how to survive in a consumer economy in which life is a constant struggle to defend the contents of your wallet. On Price, as in life, the vast groaning board of the consumer economy is laid out before you--buffet...