The Great Depression has become one of the most misunderstood events in U.S. history. Many people believe the free market to be culprit that caused the incredible economic downturn, that the government didn’t do enough to stop it, and that it was largely President Hoover’s fault for not intervening enough into the economy. Today, to [...]
The issue of credit is so intertwined with our current economic system, it is critical that it be researched, discussed, and brought to the light of the public. What is credit? Webster defines it as the “reliance on the truth or reality of something”. Simple enough. The Federal Reserve controls the supply and creation of [...]
The main arguments against capitalism, that I’ve heard, include that it’s an unfair system primarily about greed and taking advantage of your fellow man. Arguments for government intervention and social planning can sound attractive. “Free” education, “free” health care; as the laundry list of “free” items stack up, it sometimes sounds too good to pass [...]
Today, for the first time since May 1, 1997, the Dow closed below 7,000, down 4.24% to 6763.29. It has been nearly twelve years since the market has seen these levels, and that was when the tech boom was going full throttle, well before the 2000 correction. Did we even have a complete correction in [...]
The Federal Reserve is, without a doubt, one of the most difficult entities to understand and grasp today. Legally we do not have the right to know what goes on behind the closed doors of the Fed. Yet, we place in them the overwhelming power, control, and ability of a monopoly over money and credit. [...]
