Word: inflationitis
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Wall Street didn't sell out America; easy mortgages, no-money-down plasma TVs, trade and budget deficits all existed prior to collateralized debt obligations. The reality is that the entire U.S. economy has been one big fractional-reserve Ponzi scheme for the past 25 years, with bubble after bubble...
Other nagging issues: the Federal Communications Commission has castigated Comcast for shortchanging some broadband customers when it comes to delivering the service they pay for. The National Football League has long been sparring in and out of court with the company for not carrying the NFL Network as a basic...
Politically, why should the United States government bolster aid to the developing world in the midst of the worst disaster since the Great Depression? First, it’s a chance to earn some respect internationally. Over the last eight years, American aid flows have done little more than keep...
The upward momentum that seemed to dominate in the afternoon came because of the coordinated action between the central banks of the U.S. - which cut its rate half a point to 1.5% - the E.U., the U.K., Canada, Sweden and Switzerland, which all also cut their key lending rates. The decision...
Even hints from Federal Reserve Chairman Ben Bernanke, testifying on Capital Hill today, of a possible rate cut did not help. His prognosis that slow growth in the American economy, not inflation, is now the Reserve's primary concern only added bad news to a day that included fallout from...