In an excerpt from his new book The Price of Civilization, liberal economist Jeffery Sachs argues that without a robust middle class and even more government spending, the U.S. will remain stagnant for years.
recession
Our New Era of Uncertainty
We’re in a new age of financial volatility that could last years, and it seems that nobody has the answers to get us out.
Americans Overwhelmingly Pessimistic About the Economy, Says TIME/Money Magazine Survey
It’s not often that the majority of Americans agrees about, well, pretty much anything. But based on a joint series of surveys conducted on the behalf of TIME and Money magazines, there’s near unanimity among Americans that the …
Simply Finishing College Offers the Best Chance to Gain Financial Education
A new report paints a dim picture of success in college. Meanwhile, the failed pursuit of a college degree leaves many in a financial straight jacket: They owe tens of thousands of dollars in student loans and have a diminished …
Home Prices Rise Modestly in July on Seasonal Demand
Home prices rose in July, according to the S&P/Case-Shiller home price index, and have now risen for four straight months. The bad news? Home prices generally rise in July, and they’re still down 4.1 percent year on year.
How Nevada Became the Go-To State to Evade Taxes
Nevada rolled out the welcome mat in the 1940s for mobsters who transformed the sleepy town of Las Vegas into Sin City. Now, the Silver State appears to be welcoming a new generation of entrepreneurs looking for a legal haven for …
Market Tanks on Recession Fears (So What Else is New?)
When the Federal Reserve issues a statement warning about “significant downside risk” to the global economy, you don’t have to be Warren Buffett to guess what happens next – stock prices are going to take a dive.
And so they did. By the end of Wednesday trading, the Dow Jones industrial average had fallen 391.01 points, or …
5 Ways to Prepare for a Double Dip
We’ve been hearing a lot about a double-dip recession lately, and for good reason. So is anyone doing anything to prepare? Here's how to start.
Cocaine Use Down—Because It’s Too Expensive
Is the recession changing the way we get high? All sorts of quirky trends have been attributed as fallout from the global economic crisis—including, most recently, a decrease in the frequency with which parents change their …
4 Home Buying Lessons We Should Never Forget Again
Reasonably enough, Americans hate almost everything about the real estate recession. Underwater owners hate that they can neither sell nor refinance, distressed homeowners and consumer advocates hate robo-signing, and just about
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Downgrading the American Dream
The American Dream has been downgraded, too.
Obama’s Jobs Plan: Will it be Enough to Revive the Economy?
President Obama’s jobs plan, which he outlined Thursday night in a televised speech to the nation, is more ambitious than many people might have predicted. It’s a $447 billion package including lots of tax cuts and some serious …