In case you haven’t noticed, Washington is currently consumed in an acrimonious debate over whether to raise the debt ceiling. There is no agreement about whether to do so or how, but both parties appear to accept the logic …
The Economy
The Rebirth of the U.S. Auto Industry? Not So Fast
Over the past year, story after story has touted the rebirth of the U.S. auto industry. Ford Motors, which unlike General Motors and Chrysler survived the 2008-2009 crisis without taking bailout money from the federal government, …
What Would a U.S. Government Default Feel Like For the Average American?
A compromise between the budget proposals being batted around by President Obama and House Speaker John Boehner will, hopefully, be reached before the federal government defaults on any debt.
But what if the August 2 deadline to …
Even in the Struggling U.S. Economy, It’s Still Only Money
Listening to an interview with an Iranian-American journalist about being detained in jails in Damascus and Tehran, I was struck by the contrast between the extremis of those experiences and the daily drumbeat of high emotions …
Double Dip? Job Market Recovery Looks Further Off
Forget jobs. Where are the workers?
The unemployment rate rose and job growth was nearly non-existent in what was probably the most disappointing piece of economic news since the start of the recovery in mid-2009. The government …
Message to Businesses: Uncertainty is Here to Stay
The jobs report was bad enough. But it’s hardly the only indication of continuing trouble for the U.S. economy. Released at the end of June, U.S. Bancorp’s annual survey of nearly 3,000 small businesses confirmed what many …
This Time, Men Are Finding Jobs Faster Than Women
The Great Recession hit men especially hard. But in the long, shaky recovery, they’re now outpacing women in finding employment. That’s surprising because in past recoveries, women have tended to get re-employed faster than men …
Where’d All the Cash Go? U.S. Treasury’s Printing Press Slows
Many economists and investors complain that the federal government has effectively been “printing money” through its loose monetary and fiscal policies. But in a strictly literal sense, the very opposite turns out to be true: In …
What Would the Founding Fathers Say About the National Debt? Don’t Default
One of America’s favorite pastimes is to play the “what would the Founding Fathers say” game. Just pick an issue du jour, and ask the question. Given that today’s world (Google, Twitter, television) is probably way beyond …
How a Weak Dollar is Boosting Domestic Travel
This week, I’ve been treated to a visceral experience of the upside of a downside. Driving with my family through the Tetons and Yellowstone National Park, I have sat behind endless lines of RVs and assorted SUVs depositing …
Bank of America Mortgage Settlement: Big Banks Could Be Forced to Repay $45 Billion
Eight months ago, when approached by investors to repay a portion of their losses in mortgage bonds, Bank of America CEO Brian Moynihan said no way. He said that his firm had followed the rules and that he was going to fight this …
Inside the Fed’s Vault: $1 Billion Worth of Unused Coins
In the basement of a Baltimore vault the size of a soccer field, 1 billion dollar coins are just sitting there. Thanks, Congress.