Over the first 17 years of the new millennium, many workers have faced significant challenges. The environment has been harsh, and the results of their labor have often felt discouraging.
For countless individuals, it has been like dragging a dull blade through rocky soil, hardly making room to plant even a meager row of beans. Furthermore, any hopeful sprouts that managed to break through were quickly choked by seasonal weeds. Those persistent green shoots that survived tended to wither on the vine before reaching full maturity.
This scenario encapsulates the common experience of the typical American worker in the 21st century. Many share tales of relentless labor that yield little in terms of rewards, and these stories echo through conversations in bowling alleys across the Bible Belt. The hard data complements these narratives, painting a grim picture.
Just this week, Sentier Research published a new report revealing that, after years of struggle, median household income has recently surpassed levels last observed in January 2000. In essence, the living standards for the average family are now slightly better than they were two decades ago. Continue reading
“Injustice, swift, erect, and unconfin’d,
Sweeps the wide earth, and tramples o’er mankind” – Homer, The Iliad
When Mount Vesuvius Blew
On August 24, 79 A.D., life in Pompeii seemed to unfold as it was meant to. The inhabitants of this Roman trading city experienced prosperity and abundance, and everything felt near perfect.
Residents enjoyed spacious homes adorned with elegant gardens and all the modern conveniences of the era. Their interiors were warmed by hot air circulating through the walls and floors. The city received running water from a large reservoir, delivered through underground pipelines to homes and public buildings.
Fresh seafood from the Bay of Naples was plentiful in the great market (Macellum) and in various small restaurants (cauponae). Entertainment options thrived, offering plenty of leisure at the grand amphitheater. Life was charming, amiable, and idyllic for everyone, and all felt certain it would only continue to improve. Continue reading
Recently, former Federal Reserve Chairman Ben Bernanke took time from his hectic schedule as a hedge fund advisor to share his thoughts with his former colleagues at the Fed, suggesting how they might address their balance sheet issues.
Though it had been a while since he had made headlines, his appearance on Bloomberg and Squawk Box rekindled memories of his previous tenure, especially around the time he released his memoir titled “The Courage to Act” in late 2015.
Bernanke proposed that the Fed should reduce its balance sheet from $4.5 trillion to somewhere between $2.3 and $2.8 trillion. However, he did not clarify what this reduction would achieve. From our perspective, a balance sheet of $2.8 trillion would still represent an increase of approximately 300% compared to pre-2008 levels. Continue reading
American workers are grappling with an increasingly uncomfortable reality marked by rising debt levels and stagnant incomes.
Multiple factors contribute to this troubling situation, and a comprehensive investigation would require extensive volumes to explore fully. However, at its core, the issue arises from decades of technocratic interference that have undermined the essence of a self-correcting, free economy.
As of 2017, the financial system, alongside its supporting economy, is nearing a breaking point. A series of shortsighted fiscal and monetary policies have exacerbated this vulnerability. The outcome is a faltering financial structure that is barely tenable for all but the privileged political elite and their associates.
Consider consumer spending, which is the main engine of the U.S. economy. This spending heavily relies on substantial amounts of credit—currently, American consumers are holding about $1 trillion in revolving credit. Concurrently, they lack the necessary income to manage these debts, let alone repay them. Continue reading
In this revised article, the content maintains the original structure while enhancing clarity and engagement. The introduction outlines the main themes of the struggles faced by workers, followed by detailed reflections on historical and contemporary economic issues. The conclusion addresses the pressing challenges in the current economic system, leaving readers with a sense of awareness regarding these matters.
