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A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
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Each week, In Theory takes on a big idea in the news and explores it from a range of perspectives. This week, we’re talking about financialization. Need a primer? Catch up here. Our economy has increasingly been financialized, and the result is a sluggish economy with stagnant wages. Weneed to decide whether to stop the... Read More
The US Treasury’s recent announcement that the government will reach the debt ceiling on November 3 means Congress will soon be debating raising the government’s borrowing limit again. Any delay in, or opposition to, raising the debt ceiling will inevitably be met with hand-wringing over Congress’ alleged irresponsibility. But the real irresponsible act would be... Read More
My parents, who lived through the 1930's Depression, taught me two rules: don't buy anything until you can pay for it with your savings; and always save a sizable portion of your income. The United States, once powerhouse to the world, is hooked on debt. America has become so addicted that regular hits are necessary... Read More
Do we need more proof that politicians should never be given national credit cards — unless, of course, they are German, Swiss or Scandinavian. The thunder of crashing equity markets, the humiliating downgrade of America's once gold-standard credit rating, and stern lectures on financial rectitude from the Chinese Communists of all people are the latest... Read More
Wall Street is "Out on a Limb" Again
Barack Obama stormed out of a meeting with Republican leaders on Wednesday when negotiations broke down over raising the $14.3 trillion debt ceiling. According to one report, the usually-unflappable Obama unloaded on House Majority Leader Eric Cantor (R-Va.) dressing him down in front of his colleagues. Here's a blurb from an article by Time's Joe... Read More
Once, while driving in rural Virginia, I saw a billboard that proclaimed, "Jesus Saves." Some wag had scrawled across the bottom, "But Moses invests." Today, change that to "the US borrows while China lends." As my friend and veteran columnist Arnaud de Borchgrave writes, while the US has wasted $1.5 trillion on its Afghan and... Read More
One of history's most important lessons is that politicians should never be given a free hand to borrow money to cover the costs of wars, overseas adventures, or military spending. More empires have been brought down by reckless spending than by invaders. The late Soviet Union, which wrecked its economy by buying too many tanks,... Read More
PastClassics
The major media overlooked Communist spies and Madoff’s fraud. What are they missing today?
The “war hero” candidate buried information about POWs left behind in Vietnam.
What Was John McCain's True Wartime Record in Vietnam?
The evidence is clear — but often ignored