Blue and grey map of the world with a focus on Greece, overshadowed by a gold coin with a pie cut out of it

Greece’s Bank Holiday from Hell

It was more or less impossible for Greek banks to open on Monday, once the European Central Bank announced it was turning off emergency lending to them. Because in the absence of any increase in this so called Emergency Liquidity Assistance, the banks had no way to supply cash to Greek depositors who have been…

Dollar sign colored like the American flag, breaking through a large grey crack

We Need Not Accept Economic Stagnation

President Obama continues to hail the economic “breakthrough.” Yet in the seventh year of his presidency, few families are enjoying a breakthrough for them. Instead, most families continue to struggle through the worst economic recovery since the 1940s. We recently learned that the economy actually shrunk in the first quarter of this year, and a…