Yankee Utopians in a Chinese Century: Wall Street Orthodoxy and the loss of the US Manufacturing base.
Before I continue, let me qualify something about the individual that’s being quoted in this post, conservative commentator, Pat Buchanan. There’s little doubt in my mind that Buchanan is a racist. I’ve arrived at this conclusion from his books, numerous op-eds as well as his conduct on MSNBC. He’s the type of racist that is a supremacist and it would not surprise me if he were a KKK sympathizer to be perfectly honest. Notwithstanding... Read More
I find myself often not in agreement with Dr. Boyce Watkins on a few issues, but this is an excellent op-ed authored by him. It is 100% spot on in terms of how African-Americans need to be thinking with respect to financial independence. Dr. Watkin’s op-ed focuses on African-Americans as individuals achieving financial independence, but our thoughts really need to go deeper than that and consider the financial independence... Read More
Historically, there’s always an inflection point where one can point to as the critical factor contributing to the fall of a great power. For Great Britain, it was the end of World War II and the devastation it faced. These conditions made it unwieldy for Great Britain to maintain its empire. The dying days of the Roman empire were marked by moral depravity, the unwillingness of Roman citizens to fight in wars of conquest and, again,... Read More
A big issue over the past decade has been the skewed income and wealth distribution here in the US. It appears that the financial crisis has contributed towards mitigating this as the wealthy have lost big money over the past year. This in from the New York Times Rise of the Super-Rich Hits a Sobering Wall Chris Richards for The New York Times John McAfee is auctioning off this property in New Mexico to pay bills. His worth has fallen to about... Read More
This is from New York Times Columnist Bob Herbert: This Is Reform? By BOB HERBERT It’s never a contest when the interests of big business are pitted against the public interest. So if we manage to get health care “reform” this time around it will be the kind of reform that benefits the very people who have given us a failed system, and thus made reform so necessary. Forget about a crackdown on price-gouging drug companies and predatory insurance... Read More
This in from one of my favorite financial soothsayers. This guy has been spot on in predicting the financial crisis that has engulfed our nation. Here’s what he has to say about social security. Social Security crunch coming fast Here’s a frightening prediction: The public pension system’s trust fund could go into the red in the next year, far sooner than expected. Will it get the next huge bailout? By Bill Fleckenstein The debate... Read More
Well, it looks like China is not only loaning us money, it’s also providing some American college grads a much needed job. This from the New York Times: American Graduates Finding Jobs in China BEIJING — Shanghai and Beijing are becoming new lands of opportunity for recent American college graduates who face unemployment nearing double digits at home. Even those with limited or no knowledge of Chinese are heeding the call. They are lured... Read More