If Democrats and Republicans don’t make a deal to raise the debt ceiling, our whole way of life could come to an end!
People Fight for Freedom. Markets Panic.
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As Egyptians revolt against President Hosni Mubarek, news accounts warn that “instability” threatens stock market volatility. How much does this reveal about our economic system?
The American Hallucination
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A wag in the New York Times pointed out that the current ARM mortgage crisis owes at least as much to predatory borrowing as it does to predatory lending (which is admittedly a huge problem). I own a home now, but I can’t help wondering why renters–people who can’t afford to buy a home–should pay higher taxes to support those who own? It’s already pretty crazy that the Army Corps of Engineers spends millions to shore up beaches to save homes owned by multimillionaires.
