“What we’ve got here is failure to communicate.” –Prison warden – Captain (Strother Martin) in Cool Hand Luke In the real world a ‘short circuit’ can and often does occur in markets, preventing an optimal allocation of resources through...
On January 1, 1972, in his Message for the Celebration of the Day of Peace, Pope Paul VI declared to the world, “If you want peace, work for justice!” Since the beginning of the twentieth century, the world had suffered through two world wars, and...
A week or so ago the Charlie Rose Show (the first 20 minutes) included commentators Gerald Seib from the Wall Street Journal, Al Hunt from Bloomberg News and Dan Bolz from the Washington Post discussing the Debt Limit Talks. The ‘conventionally...
Is there a contagion spreading across democratic nations? Rights without responsibilities is the new cry. Trillions for redistribution; not a penny for job growth. Alexis de Tocqueville could see it coming way back in the early 1800s. The American...
The Flow of Funds Accounts of the Federal Reserve System for the last five years goes a great distance in explaining the ongoing financial and economic malaise of the U.S. economy. The total credit creation was trending upward and reached a peak in...
For years, critic after critic has bemoaned the U.S. Trade Deficit. Virtually everything imaginable on earth has been cited as the cause of the Trade Deficit. In turn, virtually every economic woe besetting the U.S. is said to be a result of the...
If the unemployment rate is falling, why are so many people out of work? Is it a case of smoke and mirrors? Here are the latest numbers– courtesy of the Bureau of Labor Statistics. You decide. 1) Civilian Noninstitutional Population =...
Charlie Brown, where are you? All forms of media, including cyberspace, are echoing at eardrum bursting decibel levels (typical sound of a teenager’s mp3 at three-quarters volume and higher), of what is becoming one of the great myths of all time...
