By Reenita Malhotra •
October 30, 2008
Economic populism involves an economic philosophy urging social and political system changes. In the current political and economic climate, the public concern over the inequity of wealth appears to be at a peak. There is a growing call by Senator Barack Obama and democrats to raise taxes on the wealthy to shrink the wealth gap. But is it true that the rich are getting richer? Or are the rich actually in danger of losing a significant portion of the nation’s [...]
By Reenita Malhotra •
October 22, 2008
As retail sales decline, manufacturing slows and unemployment benefit claims rise, the economic situation looks more and more grim by the day. Rises in the stock market that show a glimmer of hope are invariably followed by dips. The housing markets declines steadily and the recession promises to linger well into next year. George Bush has called for a mid November summit to discuss the international economic situation.
By Reenita Malhotra •
October 15, 2008
The failure of Lehman Brothers is seen as the last straw that broke the credit market. The financial markets have been in a state of complete disarray ever since the U.S. Government allowed Lehman Brothers to file for bankruptcy on September 15th 2008 instead of intervening to save it as it had done with Bear Sterns and later with the insurance company, American International Group.
