Despite Federal Reserve Chair Janet Yellen’s expression of confidence in raising the federal funds rates, the worst of the tragic consequences of the government bank bailouts is yet to come. Part II of “The People Were Ruined” is on the horizon, and “the people” are going to suffer dramatically. William Gouge (1796-1863) was credited with the famous quote. His premise […]
» Read moreMany state and local public pensions are on life support. Public officials are negotiating with unions, taxpayers, pensioners, the courts and electorate to come up with a solution. Everybody wants a bail out at the expense of others. The Brookings Institute recent study indicates a huge problem: “As of 2014, state and local governments sponsored nearly 4,000 pension plans that […]
» Read moreRemember the American Dream? Get a good education, find a good job, own a home, raise your family and retire comfortably when you turn 65. Build a solid foundation when you were young and you would have a wonderful life. I recall many friends taking jobs as teachers, firemen, police officers, or working for Sears, United Airlines or Motorola that […]
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