Free Republic

After the end of the Cold War, foreign policy experts across the spectrum assured us that things had changed. Wars of pure border conquest were over. Wars over oil would soon be a thing of the past. Instead, the increasingly intertwined world would move toward peace. Thomas Friedman suggested in his massive 1999 bestseller "The Lexus and the Olive Tree" that no two countries with McDonald's would go to war with each other; Francis Fukuyama stated in "The End of History and the Last Man" that we had reached the "end-point of mankind's ideological evolution and the universalization of Western...

President Biden brushed off government data showing the highest inflation in 39 years Friday, arguing that the declining value of the US dollar means that Congress should pass his $2 trillion social and environmental spending bill. “For anyone who, like me, is concerned about costs facing American families, passing [the Build Back Better Act] is the most immediate and direct step we can take to deliver,” Biden said in a statement.

In his first major speech since leaving office, former President Barack Obama endorsed the idea of providing a universal basic income. Speaking at the Nelson Mandela Annual Lecture in South Africa on Tuesday, Obama raised the notion of guaranteed income as a way to reduce what he called "yawning disparities" in wealth, education, and security across different socioeconomic groups. "It's not just money that a job provides," said Obama. "It provides dignity and structure and a sense of place and a sense of purpose. So we're going to have to consider new ways of thinking about these problems, like a...

I've used this phrase for about a year and now Rush Limbaugh has said it to millions: Barack Obama is economically illiterate.

.....Campaigning in Iowa on Monday, the Texas governor said he would consider it "treasonous" if Federal Reserve Chairman Ben Bernanke "prints more money between now and the election" in November 2012 -- a fresh sign of the political heat the central bank faces as it tries to right the stumbling U.S. economy. The White House responded by saying it is important for the central bank to remain independent, and jabbed back at Perry, who on Saturday entered the race for the Republican nomination to face President Barack Obama. "I certainly think threatening the Fed chairman is not a good idea,"...

The average price of a gallon of self-serve regular unleaded gasoline in Los Angeles County crashed through the $2 mark today for the first time since Nov. 29, rising 1.7 cents to $2.006.

Bin Laden never thought he could destroy the United States with bombs. In an interview shortly after 9/11 he said he expected the US to bankrupt itself. It seems that is well on our way to fullfilling his expectation. Of course the war in Iraq is costly but even more costly has been the effect of the war against terror has had on business. Seven hour border crossing cut trade not only directly but indirectly..those that never even try because its not worth it..and as the economic gloom increases other markets seem more attractive anyway. The constant drumbeat to increase...

WASHINGTON (MarketWatch) - Petrodollars have returned to the world stage, and could play a potentially destabilizing role in the U.S. and global trade imbalances, according to a new report from the International Monetary Fund released Thursday.Petrodollars, just as much a part of the 1970s as bell bottoms and platform shoes, are dollars paid to oil-producing countries and then re-invested in major financial markets. In the 1970s, these funds were deposited in big Western banks. This time around, it is more complicated. Petrodollars are being recycled through international capital markets and offshore accounts, partially because of the post 9/11 Patriot Act...