Remember the glamorous days of train travel? Like the 20th Century Limited connecting New York and Chicago? In 1928, the popular 20th Century Limited exemplified the profitability of passenger rail. Yet, times have changed, and America’s passenger trains have lost money since 1946.
“The IC continues to assess that Iran is not building a nuclear weapon and Supreme Leader Khamenei has not authorized the nuclear weapons program.”
Japan‘s economy contracted at a higher pace than expected in the first quarter of 2025, according to official data for the January to March period released on Friday.
The deployment of California National Guard troops and active-duty U.S. Marines onto the streets of Los Angeles without local approval is an assault on federalism.
Because keeping the US involved in only 2 hot wars isn’t enough to please the war party.
On a regular basis various “experts” in the field of economics make comments on the state of the “economy.” For instance, they report that the “economy” grew by such and such percentage, or that the widening in the trade account deficit threatens the “economy.” According to commentators, the “economy” produces goods and services, called total national output. Once the output is produced, what is then required is its distribution among individuals in the fairest way.
One of the most common grievances people have with their employers is about their pay. Many lament that their employers inadequately compensate them for the work they do, and that their salaries are too low. In their opinion, the free market is to blame for salaries being too low as companies hold bargaining power while the employees simply take whatever they can take. However, this sort of argument implies that work has intrinsic value and to state that is to misunderstand the nature of work.
Since the advent of Keynesianism, economics has been plagued by faulty assumptions and methodologies, and—given the influence of economists in government and on the Federal Open Market Committee—it’s not surprising that a big question mark hangs over our economic future.
