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Economy

povertyAccording to statistics from the U.S. Census Bureau, the poverty rate is at an 11-year high while household incomes are at a 10-year low, all thanks to the worst recession since the Great Depression.

china tiresAs inexpensive Chinese-made automobile tires keep rolling into the United States and U.S. tire manufacturers struggle to stay in business, President Obama will soon have to decide whether or not to impose a tariff on the imports.

images/stories/rotator/switzerland-r.jpgSwitzerland overtook the United States as the most competitive economy in the world, according to the global competitiveness index released this week by the World Economic Forum (WEF).

mortgage issuesThe Washington Post reported September 7 that the federal government is now guaranteeing 86 percent of all new home mortgages, as default rates continue to increase and threaten to require a bailout of federal loan guarantors such as the Federal Housing Administration.

un dollarThe United Nations released a report Monday attacking free-market economics and the role of U.S. Federal Reserve notes in the world economy, while proposing increased centralization of global monetary and financial systems and more “solutions” to so-called “climate change.”

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