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Paul Kennedy posits that continued deficit spending, especially on military build-up, is the single most important reason for decline of any great power. The costs of the wars in Iraq and Afghanistan were as of 2017 estimated to run as high as $4.4 trillion, which Kennedy deems a major victory for Osama bin Laden, whose announced goal was to humiliate America by showcasing its casualty ...
“I think America will fall, the borders will open, tens of millions of illegal criminals and people from other countries will pour in,” he said. "And I think freedom of speech will probably be ...
The title of the book points at the sharp decline in stock prices following the bankruptcy of the investment bank Lehman Brothers in September, 2008. Meanwhile, its subtitle reveals Stiglitz's conviction that free markets are at the bottom of the crisis, as he makes deregulation responsible for the rise of the shadow banking system, over-leveraged banks and subprime mortgages.
Why Nations Fail: The Origins of Power, Prosperity, and Poverty, first published in 2012, is a book by economists Daron Acemoglu and James A. Robinson, who jointly received the 2024 Nobel Economics Prize (alongside Simon Johnson) for their contribution in comparative studies of prosperity between nations.
The "mother of all bubbles" is due to pop soon as U.S. outperformance has been inflated by massive amounts of debt, warned Ruchir Sharma, chair of Rockefeller International. The U.S. has become ...
Ruchir Sharma says the trend of US stocks outperforming the rest of the world may end in 2025. The Rockefeller chairman pointed to signs that the stock rally in the US looked unsustainable.
As America's national debt nears the $35 trillion mark, BlackRock CEO Larry Fink has warned the country's growth must keep up in order to pay its bills—or risk passing on a huge, ...
The ideology of Trumpism broadly adheres to a deeply-held belief that America was founded as a Christian nation. Philip Gorski, a Yale professor of the sociology of religion, calls this "a mythological version of American history." Movement adherents believe their Christian dominance has been usurped by other races and faiths, which Gorski ...