Far from being an investment program, Social Security is a pay-as-you-go operation where new revenues are spent immediately and future entitlements are funded exclusively through the promise to tax workers in the future, many of whom haven’t even been born yet. It is taxation without representation in the most cynical sense. The program is…
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For many, economic logic and application to a wise management of finances is a chore considered best left to the “professionals”. After all, crunching numbers given the vast array of rules and regulations can be taxing (pardon the pun). However, debt finance is a particular economic subject that can be easily understood and just…
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In my recent article in Investor’s Business Daily, I discuss the enormous harm from and hypocrisy of federal economic policies as they inhibit private entrepreneurship. The current era has been dubbed the “Information Age,” and well it is. Never before has so much information been available so broadly and on such a level of…
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Ever since the bursting of the real estate bubble became evident at the end of 2007, Washington has been on a spending spree to avert events that, in its collective judgment, threatened the stability and solvency of the U.S. financial system and economy as a whole. Although the U.S. economy has experienced recurrent cycles…
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