Tag: deficit

Wealth Destruction – The Dark Side of Globalization

Jacek Popiel

The most significant economic development of the last thirty years has been the trend known as globalization. It is characterized by the removal of national barriers to the movement of goods and capital within a worldwide financial system. The result has been the transfer of economic activity to countries of “lowest cost” in terms of wages, work practices and environmental impact Globalization has been “sold” to all concerned on the ground of economic efficiency. The free movement of Read More …

Managing the Budget – Deficit through a thousand leaks

Jacek Popiel

The federal budget is out of control and neither party seems willing or able to do something about it. Nevertheless something needs to be done before the current course – endless borrowing while the Federal Reserve prints money indefinitely – results in a dollar panic, runaway inflation and the collapse of U.S. credit. There is a way out of the current predicament. The present situation has two main drivers. Ideological partisanship The established parties are driven by ideological Read More …