Bailouts really began in this country back in 1970, when the nearly bankrupt Penn Central Rail Road appealed to the government for financial assistance.
The Rail Road argued that they provided an essential service (to use today's term), and employed a substantial number of workers. So it was in the governments interest to keep Penn Central operational.
The Federal Government, under then President Richard Nixon, bought that argument, and supplied the funds needed to keep the Penn Central running.
And over the last half century, that rationale, has been used over and over again. Often, when a major economic entity has gotten into financial trouble, and loosing that entity would cause some perceived harm to the country, the Federal Government has not been reluctant to step in and provide aid.
Deflation, its a word that will send a shiver up any Economist's Spine.
Last night, Japan revealed that prices, at the consumer level, had fallen 1.2% in the month of December. Let's look …
It was something that we, as a nation, have been doing every 4 years, for over two centuries now: inaugurate a new President. We've done it in war and peace, boom times and depressions. But …
The Big Four American Banks: Wells Fargo, Citigroup, Bank of America, and JP Morgan Chase, are the beating heart of this country's financial system.
They are the primary instruments through …
While the rest of the world was preoccupied by the happenings in Washington this weekend, the Peoples Republic of China put up some economic numbers that were simply stunning, and …
America's Vision of Globalism goes back at least a hundred years to the Presidency of Woodrow Wilson, and his League of Nations. An effort to bring peace to the world after the destruction …
The action this week by Big Tech, Google, Twitter, Facebook, Amazon and the rest, have created the best environment for startups in a generation. Empowered their competition. And likely …
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