"If the crisis was predictable and is explainable, why did no one listen? It’s because too many politicians believed that a free lunch was possible and a new economic paradigm had arrived. But we’ve heard that one before--like the philosopher’s stone that could turn lead into gold. Prosperity without work is a dream of the ages."

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Peter Schiff goes on Bloomberg and spills out a lot of common sense.

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The answer to economic recovery is, simply, more freedom. We need more freedom, lots of it, if we are to hope to make a recovery from the current economic situation anytime soon. It is at the height of arrogance for the President-elect and the members of Congress to presume that they know best how to allocate and invest resources to bring about a robust e...

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There are many people who really, sincerely believe that “global solutions” are essential to solving many of the world’s problems. Such people fail to understand that, first of all, central planning does not work.

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Sony has announced plans to cut 8,000 electronics jobs - 5% of the division - as well as shutting 10% of its manufacturing sites. The company said the jobs would be cut by April 2010, but did not say in which countries the staff would go.

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America finally got some good economic news last week when Brown-Forman, the makers of Jack Daniels, announced their profits were up 13 percent in the second quarter.

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One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled.

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The U.S. federal government owes up to $52 trillion to citizens who have already earned benefits, officials of a non-profit group said. Rettenmaier said that to put the numbers in perspective, the size of the entire U.S. economy is $14 trillion.

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Honda is pulling out of Formula One, blaming the world economic crisis for plans to sell its team. The decision leaves Englishman Jenson Button and 2009 team-mate Rubens Barrichello without drives, with only a few mid-ranking seats still available.

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This is very important because I want the world to know that things are getting crazy with things breaking all the time, quickly or before warranties forcing consumers to send to customer service, or buy again. This is some of the proof why we have become a buy-buy consumerized society and what could cause our flawed ecomony to be built on a house of card...

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