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Category: Economy

Debt rolling towards a man running

Will Household Debt Derail the US Economy?

by Steven Pressman | Nov 3, 2022 | Economy

US household debt hit a record $16.15 trillion in the second quarter of 2022. Mortgage debt accounts for 75% of the total; college debt another 10%. The rest is mainly motor vehicle and credit card debt. Rising household debt over the past two years is worrisome, and will become a greater problem as interest rates […]

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Jerome Powell, Chair of the Federal Reserve.

The Fed’s Battle With Inflation: A Pyrrhic Victory? Or Will the Federal Government Join the Fight?

by Steven Pressman | Aug 31, 2022 | Economy

The central bank of the U.S. Federal Reserve (or Fed for short) has been hiking interest rates this year to try to bring down inflation. Before addressing the economic consequences of this, a few words about central banks seems in order. Regular retail and consumer banks do their own banking at central banks—making deposits and […]

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Washington, DC - January 6, 2021: Pro-Trump protester with Christian Cross seen during rally around at Capitol building

Paranoia on Parade: How Goldbugs, Libertarians and Religious Extremists Brought America to the Brink

by Dave Troy | Jun 27, 2022 | Economy, Politics

Listen to “Paranoia on Parade”, a 3-part audio podcast with commentary from author Dave Troy, Jack Bryan, director of the 2018 film “Active Measures,” and Hamilton Fish, Editor of The Washington Spectator (links below). (Complete Bibliography and Endnotes for Paranoia on Parade can be found in this post following the conclusion of the article.) “We […]

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Woman at a labor union protest holding a sign that says, "Support Amazon Workers"

75 Years of Republican Hostility Toward Workers: From Taft-Hartley to Today

by Steven Pressman | Jun 22, 2022 | Economy

In an iconic scene from the film Norma Rae, Sally Field—playing the eponymous title character—writes “UNION” on a piece of cardboard and holds it aloft in the plant that employed her. She has just been fired for copying a flyer to use as evidence of illegal actions to thwart unionization. Following a movie-appropriate period of […]

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Woman in a grocery store walking by the refrigerated section full of eggs and milk.

Will Inflation Crush the Biden Presidency?

by Steven Pressman | May 3, 2022 | Economy

Inflation has reached its highest level in 40 years—7 percent in 2021 and still rising. Concurrently, President Biden’s approval rating has dropped from 53 percent on Inauguration Day to 40 percent in late February before Russia invaded Ukraine. (By late March, it was 42 percent, and it has remained at this level through the first […]

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Podcast

Listen to “Paranoia on Parade”, a 3-part audio podcast with commentary from author Dave Troy, Jack Bryan, director of the 2018 film “Active Measures," and Hamilton Fish, Editor of The Washington Spectator.

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