Some businesses and individuals are forced into filing for bankruptcy due to bad decisions or just plain bad luck. The number of cases has fallen nationwide, but with entire cities filing for bankruptcy, the ripple effect of each bankruptcy can still be enormous.
When did we all turn into a bunch of babies that need to be coddled, with our policy maker parents smoothing volatility and promising a world of full employment and a perfect 2.0 percent inflation rate? It's normal for economies to experience cycles, both expansions and recessions.
If the U.S. economy really is getting stronger, why are U.S. stock markets so volatile? The broad answer: the economy is much more than the stock market, and vice versa.
When you're in the trenches of a financial failure, filing for bankruptcy can feel like the end of the world. But if you take a step back, evaluate your situation objectively and make a plan, you'll quickly realize that your situation is not as bleak as it feels right now.
They say the quietest place on Earth is in the eye of the storm, which perhaps is the reason comments from Fed officials are so remarkably obtuse. The biggest factor on the market is and remains what they do in September.
The employment picture in the U.S. has been brightening, but the improvement has not been evenly dispersed across the nation. Whether you have just graduated from college and are now looking for your first full-time job or you are looking for a job/career change, you're interested in finding areas with the greatest job opportunities.
With the fall of the Berlin Wall, one economic model emerged triumphant. Capitalism--spanning a spectrum from laissez faire to authoritarian--shapes the market economies of all the wealthiest and fastest-growing nations.
Unfortunately, things are getting harder for workers who want to organize. Many states have passed so-called "right-to-work" laws that do nothing but make it harder to form a union. Others have limited collective bargaining rights.
Can people do well without belonging to a union? Sure. But it was near impossible before the rise of unions in the 1930s and it has been harder since the decline of unions in the '70s. A significant percentage of the population has been economically disadvantaged without unions.
Democrats are doing one of two things, and neither one of them is very impressive. Democratic candidates are either so scared of being called a tax-raiser by Republicans that they do not support changing the problem at all, or they are secretly for changing it but don't want to say it.
China's weight in the world economy has been rising and was made excruciatingly apparent by the turmoil in U.S. equities markets over the past few weeks. Much of current stock market anxiety was at least "assembled" in China.
We're witnessing, I'm fairly certain, market chaos associated with the end of the era of fossil fuels.
LONDON -- It is often said that we live in a culture of instant gratification -- and this is especially true of financial markets. The debt crisis was a spectacular example. Upfront profits blinded over-confident investors to long-term risk -- with disastrous consequences. Since the crash, lack of confidence has given rise to a different type of short-termism.
We need to make sure those who do the people's work in Washington are actually doing it -- not worrying about former or future bosses at the public's expense.
According to the standard narrative, a big part of the success of the Finnish education system is the country's focus on math, science and technology education to prepare its students for 21st century jobs.
The Fed is famous for raising rates prematurely, seeing ghosts of inflation. But there is no inflation on the horizon -- the bigger worry is deflation. In fact, the inflation rate is well below the Fed's own target of two percent. And the Fed is the only game in town. On balance, I think the opponents of a rate hike have the better argument. But consider for a moment that last assumption -- that the Fed is the only game in town. The larger issue, which is getting submerged in the great debate about raising rates, is that the Fed should not be the only game in town. With fiscal stimulus ruled out politically, pressure is on the Fed to be the sole engine of growth. Yet the central bank can only do so much.