crony capitalism

The Consequences of Detroit

The city of Detroit filed for Chapter 9 municipal bankruptcy last week and the S&P 500 made a new high. There was a time when those two headlines could not have happened in the same week. Detroit and the auto industry it represented were once a symbol of all that was right with America and it was not a stretch [...]

Central Banks, Inequality & Market Manipulation

By Joseph Y. Calhoun III|2013-04-30T11:46:33-04:00April 28th, 2013|Economy, Federal Reserve/Monetary Policy, Taxes/Fiscal Policy|

The Pew Research Center last week released a report showing that from 2009 to 2011 the top 7% of American households (based on net worth) realized a 28% gain in wealth while the bottom 93% saw a 4% decline. In a statement of the blatantly obvious, Pew said the difference was a result of the wealthy being more likely to [...]

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