In 2008 the world was riveted by the economic collapse of Europe as countries plummeted into financial ruin due to deficits out of control. Particularly hard hit were countries like Greece, Portugal, Ireland, Cyprus, and Spain.
Two myths that caused great confusion over the last several years are now headed to the trash bin of history. Unfortunately, many of our great national myths have survived 2014.
If the Great Recession wasn't enough to change the hearts and minds of the bankers, legislators, lobbyists and voters, I really don't know what would be. We bear collective responsibility for perpetuating a terribly broken system.
One could see it as archaic. Maybe we no longer need trendspotters, when everything is changing all the time, and when everything else -- branding, marketing, behavior and lifestyle -- can adapt in real time. Trendspotting can be frustrating.
We may be at a place where the Great Recession can move from the forefront and into our rearview mirrors. It could be the year when Santa adds something extra to the bottom line of retailers everywhere. We shall see. Don't forget, today is Giving Tuesday.
Germany has long mandated paid family leave, paid sick days, and several weeks of paid vacation every year. All of these policies have the effect of shortening the average hours workers put in on the job each year.
Do what you love? Check. Do what you're good at or have experience with? Check. Make sure it's recession-proof? Maybe not--that's where a lot of entrepreneurs drop the ball.
Usually an economy would be fully recovered from the impact of a recession seven years after its onset. Unfortunately, this is not close to being the case now.
A remarkable new play, Turning the Glass Around, by Pia Wilson, fearlessly plunges into the ever-morphing conversation about immigration, race and class. Turning the Glass Around evokes images of Death of A Salesman.
Millennials are openly defying the government mandate and thumbing their noses at legislators who continue to ignore the issues critical to young Americans. They're fed up with government forcing them to pay for the poor financial decisions of previous generations.
Employment -- and the income that comes with it -- marks the ability to move from dependence to independence, and when there are fewer opportunities to make this leap, development is stunted.
We can't predict when the next one will come, but those who fall in its wake will face a tough road to recovery. That is because recessions are increasingly structural events. They occur less often but involve more economic disruption.
Income inequality is killing the economy. Retailers, bankers and Democrats agree on that. Really. It's only Republicans who continue to insist that income inequality is great.
Officially, the recession ended five years ago. But there's something the financial newscasters don't tell you: Unless you're rich, those numbers don't apply to you.
Kleinbard describes himself as a "Dutch uncle" which the dictionary tells me is someone who admonishes sternly and bluntly... tells us the hard truths whether we want to hear them or not.
The goal of the lawsuit -- to provide even more for AIG's bailed-out shareholders -- seems absurd. But at least this lawsuit, which has already seen testimony from two former Treasury secretaries, is finally giving the American people some hard lessons in the workings of the bailout process and the shortcomings of our current economic system.