Consumerism
Debt Diplomas
Universities have colluded with credit card companies to load students down with even MORE debt when they graduate.
January 1, 2009 | Read More
Who Says Main Street Isn’t Getting A Bailout?
Quit your whining and get on down to your local General Motors dealer. That’s where you’ll find your bailout money. They’ll loan it back to you–cheap!
December 30, 2008 | Read More
Consumed To Death
Black Friday just took on a whole new meaning.
November 28, 2008 | Read More
A Time Capsule Of Economic Stupidity
Take a look at this amazing video compilation of Peter Schiff way back in 2006 and 2007 playing John the Baptist about the coming economic crisis. And watch how all the business pundits put his head on a platter for it.
November 14, 2008 | Read More
The Consumer Comedown
After a housing crash, a speculation-fueled oil spike, and a credit crisis, the whole country is like a frat house after a three-day kegger. The beer’s gone. Someone smashed the furniture. Someone else drove his car through the front door. And the Dean is on his way over.
November 12, 2008 | Read More
Western Financial Flu Hits China
For years, we’ve been locked into a kind of parasitic pas-de-deux with China, a kind of insane codependency in which they are not only our chief supplier of consumer goods, but one of our biggest creditors as well. Now the party looks to be over. And the Chinese people are going to suffer for it, as are we.
November 7, 2008 | Read More
Half of Nevada Underwater
About 20% of homeowners owe more on their mortgages than their homes are worth. In Nevada, one out of every two houses are “underwater.”
November 2, 2008 | Read More
“The Heartbeat of America”: The Fall of the Automotive Industry
There’s a reason the Chevrolet slogan evoking Detroit as America’s heart resonated so powerfully. The automotive industry is as American as rolling amber waves of grain. And now look how far it has fallen.
October 31, 2008 | Read More
Delerium Tremen$
Another Through the Looking Glass day in the markets. The government released a report showing that our Gross Domestic Product contracted last quarter and that consumers actually cut their spending for the first time in 17 years, and by the largest amount since 1980. Meanwhile the Dow Jones … jumped 250 points at the opening bell.
October 30, 2008 | Read More
Bubble-omics Reborn?
Yesterday, the Dow exploded for its sixth biggest percentage gain ever. Happy times are here again, right? Wrong. The Consumer Confidence Index plunged in October from an already dour, “put your money under your mattress and leave it there until the storm blows over” 61.4 in September to “bury your cash in coffee tins and start siphoning your neighbor’s gas” 38 (38!) in October.
October 29, 2008 | Read More
