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Used car prices are up 45% since 2019 putting used cars at average price $28000. It is not a discretionary cost, one needs a car to get to work in the US. There are cases of young people not able to pay soaring repair costs quitting work without transport. This is why there was so much discontent in 2024 after supply shocks and price gouging pushed up prices in 2024. Another factor evident in airline ticket pricing was demand and the excess income of the top 20 percent. In housing and apartment rentals supply shortages pushed up prices, demand and excess income of the top 20-30 percent pushed up prices beyond the reach of the rest, higher interest rates made it unaffordable to buy a home for most Americans.
Grouped Articles
Why There Is No Relief Ahead for High Used-Car Prices
WSJ 02/15/2025
The U.S. Economy Depends More Than Ever on Rich People
WSJ 02/24/2025
Entry level tier wages for auto workers at $17 an hour in 2022 as the UAW union goes on strike in 2023. At $34,000 a year entry level young auto workers make less than the $35,000- 40,000 a year for families set as the Federal Poverty Level by the Department of HHS. Lincoln and TR-FDR would see this as outrageous as American workers built American factories and America since the Industrial Revolution. America has forgotten its workers and worker's families, worker's children. Two thirds of children with the vast majority from the workers families not able to pass ACT reading comprehension at the 4th grade, and 50 % of retired people having zero savings. Not the America of Lincoln or TR-FDR.
Grouped Articles
Trump’s pitch for autoworker votes in car heartland is short on autoworkers
The Guardian 09/28/2023
Biden Joins Autoworkers on Picket Line in Michigan
NYTimes.com 09/27/2023
Biden Joins UAW Picket Line Ahead of Trump Visit, Opening 2024 Election Fight
WSJ 09/26/2023
Five Clues to Where the UAW Strike Is Headed Next
WSJ 09/23/2023
Battle Over Electric Vehicles Is Central to Auto Strike
NYTimes.com 09/17/2023
Whatever the UAW Strike Outcome, Elon Musk Has Already Won
WSJ 09/16/2023
A husband and wife who started this as a hobby.
Grouped Articles
The Top-Rated Place to Eat Is Home
New York Times 10/08/2010
Zagat Gives Google Street Cred
Wall Street Journal 09/09/2011
Wall Street Journal 09/09/2011
With Frommer's, Google Taps Gurus
Wall Street Journal 08/14/2012
Tax collection in Pakistan is one of the poorest in the world. This widens the quality of life for the vast majority of people and an afffluent few who run business interests and have agricultural holdings. Infrastructure and essential services such as power and water, roads and health care, all suffer, as a result.
Grouped Articles
Power Outages Hobble Pakistan's Biggest Exporters
Wall Street Journal 12/01/2013
Pakistani Taxes Widen Divide Between Rich and Poor
New York Times 07/18/2010
Key Party Rejoins Pakistan's Coalition
New York Times 01/07/2011
Pakistan's troubled finances: Economic blasphemy
Economist 01/15/2011
General Kayani Is Said to Cling to Job in Pakistan
New York Times 06/15/2011
Pakistan's Central Banker Resigns
Wall Street Journal 07/15/2011
What happened, why and how something like this can be prevented in the future.
Grouped Articles
In Gulf, It Was Unclear Who Was in Charge of Rig
New York Times 06/05/2010
The Oil Disaster Is About Human, Not System, Failure
Wall Street Journal 06/11/2010
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
Chinese Walls, Pocked With Peepholes
New York Times 06/11/2010
Nine Questions (and Provisional Answers) About the Spill
BusinessWeek 06/10/2010
Oil Executives Try to Explain Differences From BP
New York Times 06/15/2010
By letting the yuan China can shift the benefits to households, who will have more purchasing power, and reverse the shift that has taken place in the last 10 years, with domestic consumption making up about 36% of GDP- down by about 10 points from ten years earlier. State owned companies gained at the expense of households, as did infrastructure spending, but it is leading to misallocation of investments and hurting households. As a result China will hit a growth wall in the next 2-3 years, says Roubini.
Grouped Articles
Wall Street Journal 10/04/2011
Europeâs Debt Crisis Is Casting a Shadow Over China
New York Times 05/17/2010
An Accord (and Lessons) to Remember
Wall Street Journal 09/21/2010
New York Times 09/30/2010
Yuan Revaluation for China's Own Sake
Wall Street Journal 10/02/2010
New York Times 09/25/2010
Lawsuits by states against U.S. banks on behalf of homeowners with mortgages and others who suffered losses.
Grouped Articles
Vote Ushers In New Era in Oversight of Lending Practices
New York Times 07/16/2013
J.P. Morgan Reaches $4.5 Billion Settlement With Investors
Wall Street Journal 11/17/2013
Ohio Attorney General Takes Strong Stand on Crisis
New York Times 10/11/2010
State Attorneys General Take Helm in Mortgage Mess
New York Times 10/29/2010
How the Banks Put the Economy Underwater
New York Times 10/30/2010
Bank Challenger Picked to Run Consumer Agency
Wall Street Journal 07/18/2011
Why Europe compares favorably with the US economy in areas like unemployment when looking at the 24-54 working age group, technology adoption, economic growth when you factor out population growth in the USA, and with higher taxes offset by social benefits for large segments of society.
Grouped Articles
New York Times 04/13/2013
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
Growth isn’t enough to help the middle class - The Washington Post
Washington Post 02/14/2013
New York Times 01/11/2010
New York Times 02/09/2010
Comparative Advantage and American Jobs
Wall Street Journal 01/26/2011
Structural problems like a mismatch of skills between maufacturing and construction sectors worst hit since 2008 and growing sectors like healthcare is one problem. Geographic factors and difficulty selling homes in states like Michigan is another. The tighter credit from a return of banking sector losses from bad home equity loans that is expected in late 2010 will keep the recovery from taking hold keeping unemployment high. The economic uncertainty following repeated budget battles between political parties also affects business investment.
Grouped Articles
90 Million Americans Not Working
Wall Street Journal 10/23/2013
Hiring Slowdown Blurs Growth View
Wall Street Journal 01/20/2014
Confronting Old Problem May Require a New Deal
New York Times 01/28/2014
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
New York Times 04/05/2012
Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
Stories by Lowenstein, Gross and Lewis.
Grouped Articles
âAlchemistsâ Looks at Central Bankersâ Handling of Crisis
New York Times 05/04/2013
On Wall St., A Culture of Greed Won't Let Go
New York Times 07/15/2013
Commentary: First, Slap Limits on Bank Leverage
BusinessWeek 03/11/2010
BusinessWeek 04/01/2010
How the 'Wolf of Wall Street' Really Did It
Wall Street Journal 01/04/2014
Wall Street Journal 03/06/2009
Senator Larson says it is a fatal mistake as lost revenue is not made up leading to a Medicare insolvency in 2031, and Social Security insolvency in 2033. Social security benefits will then by law will be cut in 2033 by 25%, a dangerous step tragic for many on Social Security who are pushed into poverty.
Grouped Articles
CNBC 08/17/24
Committee for a Responsible Federal Budget 08/17/24
Trump wants to cut income taxes on Social Security. Here's how that would impact your benefits.
CBS News 08/17/24
The reason why the unemployment rate is so high and why there are so many jobless people.
Grouped Articles
The Next First (and Only) 100 Days
New York Times 12/10/11
Big Banks Cut Back on Loans to Small Business
Wall Street Journal 11/27/15
Few Businesses Sprout, With Even Fewer Jobs
Wall Street Journal 11/18/10
Few Banks Seek Funds for Small Businesses
Wall Street Journal 03/31/11
For Small Businesses, Recession Isn't Over
Wall Street Journal 07/06/11
Job Search Stretches Past a Year for Millions
Wall Street Journal 07/22/11
Carmen Reinhart points out that the government can only assume private debt at a realistic price. Without principal reductions there appears to be no solution to the problem of the fifth of homeowners in the US who are under water. This keeps acting as a drag on the economy.
Grouped Articles
BusinessWeek 09/30/10
State Attorneys General Take Helm in Mortgage Mess
New York Times 10/29/10
To Fix the Housing Crisis, Read the Data
New York Times 11/04/11
Deepening Crisis Over Euro Pits Leader Against Leader
Wall Street Journal 12/30/11
Forgiveness of Debt Could Yield Savings
Wall Street Journal 07/30/12
Papandreou has provided leadership on the issues facing Greece by walking the talk, with straight talk about the action needed, consulting economic experts in America who are in his inner circle, and working with European leaders for solutions. He has kept his profile modest and set a role model for his ministers and public officials.
Grouped Articles
George Papandreou Finds Balm for Greece Deficit
New York Times 06/15/10
BusinessWeek 06/24/10
At Impasse, Greek Leader Vows to Reset Cabinet
New York Times 06/15/11
Greek Leader Faces Key Confidence Vote
Wall Street Journal 06/21/11
Wall Street Journal 06/21/11
New York Times 06/21/11
What happened and why, and how to prevent such crises in the future.
Grouped Articles
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/10
Chinese Walls, Pocked With Peepholes
New York Times 06/11/10
A High-Five for the Invisible Hand
New York Times 06/03/10
Financial Crisis Was Avoidable, Inquiry Concludes
New York Times 01/25/11
Long-term understanding of the U.S. economic crisis - The Washington Post
Washington Post 03/19/12
Among those who support such moves are Simon Johnson at MIT, Robert Lucas at the University of Chicago, Jeffrey Sachs at Columbia. Most recently Mervyn King, governor of the Bank of England. Glenn Hubbard of Columbia and an advisor to President George W. Bush compares the action needed to breakup "too-big-to-fail" banks to the action taken by Theodore Roosevelt, see the link to Hubbard.
Grouped Articles
Weâre All Still Hostages to the Big Banks
New York Times 08/25/13
How Larry Kotlikoff Would Fix the Financial System
BusinessWeek 02/04/10
Irreversible Damage: Why Little Action on Banking Can Do Great Harm.
New York Times 04/30/10
New Life for 'the Volcker Rule'
Wall Street Journal 05/01/10
BusinessWeek 04/15/10
Ireland Crisis Might Give China Break It Seeks
Unknown 11/19/10
Phil Angelides, California state Treasurer, heads the commission. The commission will attempt to get at the roots of the financial crisis, keep the public informed about why this happened, and bring those who violated laws to the attention of the nation's law enforcement agencies.
Grouped Articles
Panel Told of F.B.I. Efforts to Fight Financial Crime
New York Times 01/15/10
Wall St. Ethos Under Scrutiny at Hearing
New York Times 01/14/10
Few Burns for Four Bankers on the Hot Seat
New York Times 01/14/10
Voices That Dominate Wall Street Take a Meeker Tone on Capitol Hill
New York Times 01/14/10
Financial Inquiry Widens to Include Past Regulators
Wall Street Journal 01/14/10
New York Times 01/15/10
How does the old print media compare to the new online media. Who generates the news and reporting? What are the significant changes ocurring in all the tumult from new generation of readers and technological change which is shrivelling the reporting staffs of old print media.
Grouped Articles
Study Finds That Papers Lead in Providing New Information
New York Times 01/11/10
Wall Street Journal 10/12/11
The Internet Tide Hits Alabama Newspapers
New York Times 06/27/12
Media’s Next Challenge: Overcoming the Threat of Fake News
The New York Times 11/07/16
Fed chairman Bernanke was a Fed Governor who advocated low interest rates at the time. His response. Expert opinion.
Grouped Articles
Wanted: A Boring Leader for the Fed
New York Times 08/20/13
What's Needed in the Next Fed Chief
New York Times 09/15/13
Fed chief Bernanke urges better financial regulation to prevent crises
Washington Post 01/04/10
Lax Oversight Caused Crisis, Bernanke Says
New York Times 01/04/10
The Fed and the Crisis: A Reply to Ben Bernanke
Wall Street Journal 01/10/10
Bernanke’s Bid for a Second Term at the Fed Hits Resistance
New York Times 01/23/10
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