If anyone doubts that the Western world's monetary order is rigged to enrich the banking system, the first quarter financial reports of America's top banks should disabuse any unbelievers. The Financial Times reported that four of the five big U.S. trading banks had a combined revenue of $19.4 billion … Continue reading Big Banks Profit While Main Street Suffers
A recently released Pew Research Center study confirms what every thinking American has understood for quite some time: the wealth gap between rich and poor has widened considerably since the onset of the financial crisis in 2008. The study's statistics probably underestimate the plight of struggling families and individuals compared to upper-income groups as the … Continue reading The Widening Wealth Gap
A recent World Bank report warned of rising global food prices as if a study (no doubt an expensive one) is needed to explain what everyone who buys food or, for that matter, any commodity, is keenly aware of. "Food price shock," the report cautioned, "can both spark and exacerbate conflict and political instability, and … Continue reading The World Bank and Rising Food Prices
There is no bigger misconception held among the financial press and within academia than that of consumer spending. A typical example of this comes from a recent Reuters release entitled: “Strong Consumer Spending, Factory Data Buoy U.S. Growth Outlook.” The first sentence of the article reads, “U.S. consumer spending recorded its largest gain in more … Continue reading The Consumer Spending Myth
Antonius Aquinas 