Yesterday Was Memorial Day, But Do We Get It?

We bandy about the phrase “Never Again” with such ease. Though we may sincerely mean it—and desire never to relive the kind of evil carried out by average German citizens during World War II—very few invest the mental effort to process exactly what it takes for evil to be opposed; what it takes to ensure it never happens again. From Charles Hugh Smith: “Memorial Day 2014: Just Following Orders.” Interestingly, people don’t need to be forced by a central authority to resist evil, though Read more […]

David Stockman On Why Financial Reporting Is So Bad

The United States became the economic wonder of the world—producing real wealth and earned prosperity for a higher percentage of her people than probably any nation in all of history—by actually making and selling stuff. We were largely free to work, and to benefit from our efforts. Now, the Federal Reserve has enabled the financial sector to grow its slice of the pie, not by providing real goods or services, but by setting up tollbooths on the economic highway. Charles Hugh Smith is probably Read more […]

The Rich Get Richer Because the Game Is Rigged

This is one of those must reads to come to grips with what has, and is, happening. From the Of Two Minds blog: Financialization results when leverage and information asymmetry replace innovation and productive investment as the source of wealth creation. Emmanuel Saez and Thomas Piketty are leading lights in the exploration of rising wealth inequality. Both are academic economists who have devoted considerable time and effort to assembling data that deepens our understanding of the issues. Read more […]

The Income Gap Is A Liberal Problem With Only A Tea Party Solution

How will you be able to tell from Barack Obama’s “State of the Union” address whether he is truly interested in reducing the level of unjust “economic inequality” in America? If he uses arguments similar to those of Charles Hugh Smith in this piece, you’ll know he’s aiming for just and real solutions. The issue of income/wealth inequality is finally moving into the mainstream: which is to say, politicos of every ideological stripe now feel obliged to bleat platitudes and express cardboard “concern” Read more […]