The news from throughout the country has been discouraging. Unemployment hit 9.5%, while real unemployment hovers around 16.5%. Over two million jobs have been lost since Mr. Obama took office. Foreclosures are rising, while economists expect 1.5 million people to file bankruptcy this year. Many states are facing severe...
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First, let me apologize for my long absence from the site. However, I believe that it was extremely worthwhile. Taking a mini-tour of the country allowed me to gauge opinions on our current reaction from a wide variety of Americans. Everywhere I went, people greeted my inquiries with a sense of muted optimism. Of course times...
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Mr. Obama is determined to address the nation’s health care crisis, despite the terrible economic conditions and an already ambitious agenda that is meeting resistance from politicians in his own party. The statistics are dire: 45 million Americans have no health care insurance, those who are insured must compete with...
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For the last few years, our economy was so awash in cheap credit that conspicuous consumption became the norm. Many economists and social critics were predicting the end of conspicuous consumption because of the new socioeconomic realities brought on by the current recession. Certainly, the evaporation of over $7 trillion...
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Hearing politicians, economists, and others amongst the chattering classes begin to whisper that maybe we have hit the bottom of our economic freefall, I am reminded of one of my new favorite horror movies, 2005′s The Descent. In the movie, four adventurous women descend two miles into an uncharted cave. Of course, things...
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Today was my last day at work. It went pretty much as expected; sadness, indifference, and surprising displays of emotion. I posed a question to one of my former co-workers after he described the time he reported to work and was fired and sent home on that same day. I asked him whether he would prefer that or the long,...
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