Edward Harrison

3 Things That Will Happen to Your Wallet in the Next Year

Lately, we’re hearing a lot of upbeat news about the economy. U.S. hiring recently hit the highest level in almost seven years. And America’s economic output, or GDP, rose over 4 percent in the last quarter. But this cheery news is really just the economy wearing a mask. What’s underneath that mask is an underlying weakness— a weakness poll after poll has shown that many Americans sense today: Five years after a statistical recovery began in 2009, ordinary people are still hurting.

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The Nitty Gritty on How and Why Greece Will Leave the Eurozone

Note from author: This post is a special members-length weekly (for Credit Writedowns) that I am making public because it is a continuation of the ideas for a Greek exit for the euro zone that I published on Friday. This post, however, also incorporates specifics that Marshall Auerback has laid out in a separate post and demonstrates why exit is the likely option.

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United States of Europe? What it Will Take to Save the Continent from Economic Collapse

The dilemma Europe now faces is complicated -- not least because the European Union comprises 27 separate sovereign nations and the euro area, where the chief problems lie, is a currency union that has 17 members itself. Beyond that, the euro is flawed both in design and in execution. It hearkens back to the gold standard and its fixed exchange rate system which necessitated a deflationary policy response to the deep downturn of 1929, ending in the Great Depression and World War II. Unless drastic action is taken, we will soon find ourselves in another Great Depression.

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