(Good, easy-to-read overview of our current economic situation)
by Charles Wheelan, Ph.D.
Ben Franklin supposedly said that it’s better to skip supper and go to bed hungry than it is to wake up in debt. Ben would be quite disappointed in us. We Americans didn’t skip dinner; instead, we opted over the past decade to gorge at the buffet and then charge it.
We woke up as the world’s largest debtor — so deeply in debt that our global creditors are getting nervous, and rightfully so.
Want to know how much we, I mean the Government, is spending to rescue the economy? $10.5 Trillion and climbing.
From CNN.Com The government is engaged in an unprecedented – and expensive – effort to rescue the economy. Here are all the elements of the bailouts. Link
While Japan has been used as a cautionary tale in the U.S. economic downturn, guest columnists Sanford M. Jacoby and Sally Kohn argue that management approaches common in Japan offer lessons for U.S. companies as they recover. Link
“In the mid-’80s, Wall Street turned to the quants—brainy financial engineers—to invent new ways to boost profits. Their methods for minting money worked brilliantly… until one of them devastated the global economy.” Link
“As government data revealed Friday that 651,000 more jobs disappeared in February, a sense took hold that growing joblessness may reflect a wrenching restructuring of the U.S. economy.” Link
Posted by Zenoch 
