Financial Bubble Alert:: "Backdoor Bailouts" and The Creation of Bogus Money

Counterfeiting is an effective way to stimulate the economy, but the costs can be quite high. For example, if trillions of dollars in fake cash was injected into the financial system (undetected), we'd probably see the same type of thing that we see when a credit bubble is inflating; asset prices would rise, unemployment would fall, economic activity would increase, and GDP would soar. But when people figured out what was going on, investors would panic, the markets would crash, and the economy would go into a deflationary nosedive.

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Empire of Bases 2.0: Does the Pentagon Really Have 1,180 Foreign Bases?

The United States has 460 bases overseas! It has 507 permanent bases! What is the U.S doing with more than 560 foreign bases? Why does it have 662 bases abroad? Does the United States really have more than 1,000 military bases across the globe? In a world of statistics and precision, a world in which “accountability” is now a Washington buzzword, a world where all information is available at the click of a mouse, there’s one number no American knows. Not the president. Not the Pentagon. Not the experts. No one.

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The Pentagon's Planet of Bases

India, a rising power, almost had one (but the Tajiks said no). China, which last year became the world’s second largest economy as well as the planet’s leading energy consumer, and is expanding abroad like mad (largely via trade and the power of the purse), still has none. The Russians have a few (in Central Asia where “the great game” is ongoing), as do those former colonial powers Great Britain and France, as do certain NATO countries in Afghanistan. Sooner or later, Japan may even have one.

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Economists Foretell of U.S. Decline, China's Ascension

To hear a number of prominent economists tell it, it doesn't look good for the U.S. economy, not this year, not in 10 years. Leading thinkers in the dismal science speaking at an annual convention offered varying visions of U.S. economic decline, in the short, medium and long term. This year, the recovery may bog down as government stimulus measures dry up.

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The New Congress and the Coming Class War

According to Newsweek's Jonathan Alter, the president recently told friends, "All I want for Christmas is an opposition I can negotiate with." Well, he had one, briefly, so long as he was willing to cave in to its demands to bust the budget with a massive gift of more than $130 billion in tax cuts to the wealthiest 2 percent of the country and the gutting of the estate tax. That cleared the decks for other "victories" and "compromises" and led to widespread insider approval of Obama's ability to "make the system work." Like 13-year-olds at the movies, pundits love "action," period, never mind its consequences.

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Freedom Fighters for a Fading Empire: What It Means When We Say We Have the World’s Finest Fighting Force

Words matter, as candidate Barack Obama said in the 2008 election campaign. What to make, then, of President Obama’s pep talk last month to U.S. troops in Afghanistan in which he lauded them as “the finest fighting force that the world has ever known”? Certainly, he knew that those words would resonate with the troops as well as with the folks back home. In fact, this sort of description of the U.S. military has become something of a must for American presidents. Obama’s predecessor George W. Bush, for example, boasted of that military as alternately “the greatest force for freedom in the history of the world” and “the greatest force for human liberation the world has ever known.” Hyperbolic and self-promoting statements, to be sure, but undoubtedly sincere, reflecting as they do an American sense of exceptionalism that sits poorly with the increasingly interconnected world of the twenty-first century.

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We're Number One (in Self-Promotion)

Can you believe that, in certain circles, support for obesity is becoming an American birthright (as in “the freedom to be…”) and a political position? Like various radio and TV shock jocks, Sarah Palin has been attacking Michelle Obama’s anti-obesity initiative as yet another example of “the nanny state run amok.” (It’s enough to make you hyperventilate on the couch while watching “Law and Order” reruns!) Meanwhile, Pennsylvania Governor Ed Rendell let loose a blast at the National Football League for postponing a Philadelphia-Minnesota game because of an upcoming blizzard. “We're becoming a nation of wussies,” he thundered. (It’s enough to make you text and tweet up a storm from that same couch!)

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GM crops breed economic dependence, new form of slavery, says cardinal

VATICAN CITY (CNS) -- If farmers in Africa had greater access to fertile, arable land safe from armed conflict and pollutants, they would not need genetically modified crops to produce food, said the head of the Pontifical Council for Justice and Peace. Making growers reliant on proprietary, genetically modified seeds smacks of "the usual game of economic dependence," which in turn, "stands out like a new form of slavery," said Cardinal Peter Turkson.

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Census: Number of Poor May Be Millions Higher

WASHINGTON -- The number of poor people in the U.S. is millions higher than previously known, with 1 in 6 Americans — many of them 65 and older — struggling in poverty due to rising medical care and other costs, according to preliminary census figures released Wednesday. At the same time, government aid programs such as tax credits and food stamps kept many people out of poverty, helping to ensure the poverty rate did not balloon even higher during the recession in 2009, Obama's first year in office.

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10 Signs That Our Nation Is Becoming Poorer

As the middle class in America continues to be slowly wiped out, the number of working poor continues to increase. Today, nearly one out of every three families in the United States is considered to be "low income". Millions of American families are finding that they can barely make it from month to month even with both parents working as hard as they possibly can. Blue collar American workers from coast to coast are having their wages decreased at a time when it seems like the cost of virtually every monthly bill is going up. Unfortunately, there is every indication that things are only going to get worse and that average American families are going to be financially squeezed even more in the months and years to come.

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