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Posts Tagged ‘inflation’

Can the United States of America afford a decades-long war with ISIS? Can the U.S. contain Russia should it annex its neighbors? Can we confront North Korea if its dictator teams up with a nuclear-armed Iran? Will Big Government have an incentive to secure our borders if we need new and future taxpayers — legal and otherwise — to service the interest on our debt?

There’s no doubt the United States has the best-equipped military in the world. But that may not add up to a whole lot of security if we don’t get a handle on the national debt — before it’s too late.

“I.O.U.S.A.” is as relevant today as it ever was when it debuted in 2008 on the heels of former Comptroller General David Walker’s two-year Fiscal Wake-Up Tour. The only difference? Instead of ~$9 trillion the U.S. is running a deficit today in excess of $18T. That works out to a staggering $3 million per minute — for a figure currently in excess of $56K per American!:

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Among the lesser-reported impacts of the Great Recession, during which time millions of Americans lost their homes to foreclosure, is the continuing surge in rental housing demand. Demand has inflated rental rates in already costly markets throughout the country. But rental price inflation is not just a problem hitting high cost of living regions in California and New York — it has hit 90 cities nationwide with no end in sight. Rental costs between 2011 and 2012, alone, increased 4 percent nationally, whereas rents in some markets during a broader period — between 2000 and 2012 — have inflated nearly 25 percent, a study by the Joint Center for Housing Studies of Harvard University reports.

High demand and short supply means one thing: higher prices. But housing isn’t merely a luxury people can forgo. Increased demand for rental housing post recession does not merely reflect the fact that mortgage lending standards are more stringent, but the reality that many Americans are still attempting to rebound from a downwardly mobile spiral. Just because rents are rising doesn’t mean renters are in a position to absorb the price hikes. To the extent rental property demand is an outgrowth of the economic meltdown and stagnant wages — in spite of job growth in more recent years — it would appear housing reform is a topic seriously overdue for national attention.

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Quick! What type of world did you imagine when you were a kid? Did you foresee yourself darting about in a hovercraft much like the cartoon family in the Jetsons? Vacationing on the moon? A lean, mean greener world? How is it that we find ourselves these many years, decades even, down the road and we’re still looking at a society that in so many ways is what it once was: the world that petroleum built? Decades after the Carter-era gasoline shortages, now with the prospect of $6 gasoline looming before us, we have little to show for our grand hopes and great visions. We’re still talking about moving off foreign oil even as the buzzword “energy independence” has become firmly entrenched in our lexicon. So little, so late.

What happened? (more…)

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