What that record shows is that President Obama, with his throwback, old-fashioned, 1970s Keynesian economics, has put America through the worst recovery from a recession since the Great Depression…….click here to continue reading
A crowd of depositors gather in the rain outside Bank of United States after its failure in 1931 during the Great Depression. Photo by World Telegram staff photographer from the Library of Congress via Wikimedia Commons. Last week’s story on the history of the top income tax rate in America featured, as tour guide, Columbia University professor of tax law Alex Raskolnikov. After the story ran he ………click here to continue reading
After this weekend’s credit downgrade, the finger-pointing reached a new level. Is it possible that The Great Depression holds the answer to economic recovery? John B. Judis of The Weekly Standard believes the 1930s show that increased government spending is the only way to get America on its feet…….click here to continue reading
What was a recession is now starting to look like a full blown depression.Bank of America (NYSE: BAC) is being sued by AIG (NYSE: AIG) for $10 billion. This is both ironic, hilarious and depressing, as AIG nearly caused the financial crisis in 2008, and could lead to starting another with this lawsuit. Shares of BofA are under $7 as of the time of this writing, and it looks like it could go even ………click here to continue reading
We need to fix America’s looming credit default, failing economy and our screwed-up banking system. Now, with a Good Depression. If we just kick the can down the road one more time, we’ll be trapped into repeating our 1930’s tragedy, a second Great Depression…….click here to continue reading
As the Great Depression of the 1930s becomes less vivid in the memories of living Americans, it also becomes more clear how profoundly it shaped the America that followed…….click here to continue reading