The economic destruction of America, a once-shining beacon of prosperity that has slowly, steadily been transformed into a massive debtor nation, continues unabated as now, foreign holdings of U.S. debt are nearly equal to our annual gross domestic product.
Chris Berkey makes his living plying the often treacherous waters of the Great Lakes, delivering staples like cement to industries nestled in the myriad harbors that dot a coastline that's equal to nearly half of the circumference of the globe
The tiny Nordic European island country of iceland is presently experiencing one of the greatest economic comebacks of all time. After the privatization of the banking sector completed in 2000, the economy was thrown into a tailspin when over a five year period, private bankers borrowed 120 billion dollars (10 times the size of Iceland's economy). A huge economic bubble was created, causing house prices to double, and making a small percentage of Iceland's population rich enough to buy up overseas investments, mansions, yachts, and private jets, while leaving an absolutely un-payable debt for all Icelanders. Iceland was facing national bankruptcy.
In a shocking admission that shows just how serious the ongoing "Eurozone" crisis truly is, a Finnish official has come forward with information about how his country, which is among the strongest in the European Union (EU), plans to deal with a potential break-up of the euro.
In the movie Groundhog Day, Bill Murray's character is forced to relive a single day over and over and over—waking up to the same song every morning, meeting the same people, having the same conversations—until, after thousands of repetitions, he finally realizes what a shmo he's been his entire life.
Buying local grows independent, sustainable communities and pulls the plug on THE SYSTEM
If you have wondered whether all of the bad news you've heard regarding home values, real wages and other economic data since the beginning of the Great Recession in 2008 is true, wonder no more.
A story in today's LA Times describes in rare detail why US healthcare is insanely expensive. It's not due to patients who expect too much, high-tech medicine or burdensome regulations.
Four years after the start of the Great Recession, nobody would mistake U.S. economy for a thrumming engine of growth, prosperity, and human flourishing.