Stratfor: Crisis of the Middle Class and American Power

By George Friedman, Stratfor Founder and Chief Executive Officer Last week I wrote about the crisis of unemployment in Europe. I received a great deal of feedback, with Europeans agreeing that this is the core problem and Americans arguing that the United States has the same problem, asserting that U.S. unemployment is twice as high …

Notes on European and USA Bank Exposures

by Elliott Morss There is a lot of talk about bank contagion and exposures resulting from the Eurozone crisis. There is much less talk about the high unemployment rates and other hardships being forced on the weaker Eurozone countries by the ECB/IMF cadré. But for now, let’s focus on bank contagion and exposure. What do …

Why was the S&L Crisis not a Systemic Economic Crisis?

We promote our failures and give them presidential medals. The high priests of theoclassical economics and their law and economics acolytes will always fail as regulators. They are trained to create and worship intensely criminogenic environments.