What Happened to the American Middle Class?

There’s one term you’re not likely to hear much in this presidential election cycle: middle class. Apparently the term is political kryptonite right now, especially since no one really knows what it means and most Americans don’t identify as middle class anymore: “In the 1960s, ‘middle class’ felt like it fit your lifestyle,” said Felicia Wong, the president and chief executive of the Roosevelt Institute, a liberal think tank with ties to Mrs. Clinton’s economic team. Even if Read more […]

Most Welfare Recipients Already Have Jobs?

In a recent report, it was found that most recipients of welfare have jobs. But those jobs just don’t pay enough for people to survive: The study found that 56% of federal and state dollars spent between 2009 and 2011 on welfare programs — including Medicaid, food stamps and the Earned Income Tax Credit — flowed to working families and individuals with jobs. In some industries, about half the workforce relies on welfare. “When companies pay too little for workers to provide for their Read more […]

Local San Francisco Bookstore Dies of Minimum Wage Hikes

We’ve said it over and over again. Minimum wage hikes will not do a thing to help anyone. They result in either higher prices or layoffs, but they hurt small, local businesses the most. It seems the first casualty confirming our fears has been tallied in über-liberal San Francisco. Borderlands Bookstore will be closing its doors, thanks to the minimum wage increase: In November, San Francisco voters overwhelmingly passed a measure that will increase the minimum wage within the city to $15 per Read more […]

Why is the Middle Class Evaporating?

If you listen to leftists and big-government stooges, the middle class is evaporating because of low minimum wage, greedy corporations, and tax-breaks for the rich. Which would indicate that, in order to grow the middle class, the civil government needs to get more involved. No one argues with the fact that the middle class drives economic growth, and is therefore a crucial component of economic recovery, but what is the real problem here? I think it can be boiled down to a few things: Crony Read more […]

Federal Reserve Blames Stagnant Economy on Money “Hoarding”

Inflation is not as high as it “should” be. In spite of the fact that the Federal Reserve has pumped $4.5 trillion dollars of non-existent money into the economy and has held its interest rates at zero percent for six years, money just isn’t moving around much. And the Federal Reserve thinks it knows why: Banks have put away close to $2.8 trillion in reserves, and households are sitting on $2.15 trillion in savings—about a 50 percent increase over the past five years. “So why did the Read more […]

Don’t Raise Minimum Wage, Just Fix the Currency

With all the talk about minimum wage, most people miss the real culprit for the rising cost of living: inflation. Does it really matter if you make $20 an hour, if every dollar you earn is worth ten cents? Of course not. Recently, some minimum wage workers in Philadelphia learned about the Federal Reserve. They apparently had never thought about what is actually making it hard for them to make ends meet. They talked about corporate bank accounts and a lack of “trickle down,” as if somehow Read more […]

The Federal Reserve Shows They Know The Obama Economy Is Dead

The big news yesterday was that the Federal Reserve was not going to “taper” their 85 billion dollars worth of bond purchases every month. The “money printing” will continue. The “Quantitative Easing” program that Federal Reserve Chairman Ben Bernanke cooked up was supposed to be a way to “get the economy going.” Once the economy was moving again, then, Bernanke told us, the QE could be ended—ended incrementally or “tapered.” But creating new money doesn’t actually create Read more […]

Government Hiding Inflation Behind Gas Prices

Texas oil production is higher than it’s been since 1985. It has doubled in less than three years, and the boom doesn’t seem to be stopping anytime soon. Meanwhile, gas prices keep going up. Why? The most major reason is inflation. If you look at an inflation-adjusted curve for gasoline prices, you’ll notice that inflation-adjusted prices have gone up and down over the past eighty years or so based on supply and demand, but during that fluctuation, the non-adjusted price of gas has done Read more […]