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What Does it Mean, Saving Rate drops to 12-Year Low when 50% of Americans Don’t Have Savings?

What Does it Mean, Saving Rate drops to 12-Year Low when 50% of Americans Don’t Have Savings? Or what the averages are hiding. We will start with income and see what’s left over, and for whom. Personal income increased by 4.1% in December from a year earlier, the Bureau of Economic Analysis reported today. This […]

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US On Road To Third World

US On Road To Third World On January 6, 2004, Senator Charles Schumer and I challenged the erroneous idea that jobs offshoring was free trade in a New York Times op-ed. Our article so astounded economists that within a few days Schumer and I were summoned to a Brookings Institution conference in Washington, DC, to explain our […]

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Faith in Central Banks Dwindles

Faith in Central Banks Dwindles Even Bloomberg Notices that Something is Amiss As anyone who hasn’t been in a coma knows, assorted central bank interventions have failed to achieve their stated goals over the past several years. A recent article at Bloomberg focuses on their failure to reach their “inflation” targets. Of course, this particular failure is […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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