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Following Federal Reserve follies

Middle class wage stagnation and a widening wealth gap characterize the U.S. economy today. Our central bank, the Federal Reserve, through its interest rate policies, exacerbates these problems. Here’s why: Interest rates constitute the most important prices in our economy. The level of interest rates affects, directly or indirectly, every saving and spending decision. Interest rates encourage or discourage current consumption. High interest rates discourage consumption as interest increases the product cost (for example) of acquiring a home or automobile. Low interest rates do ...

‘Stuff’: A major part of our lives

“Stuff” is a simple five-letter word that people seldom think of or pay any attention to and never in conjunction with anything of importance. It is just “stuff.” “Stuff” can be something you put in a box to protect an item. When someone opens up the box later, he removes the item and throws away the “stuff.” The word “stuff” is universally applied to many items, and in many ways, it designates those items as unimportant, unnecessary or even undesirable. So, why does “stuff” play such an important role in all our lives? Everyone has too much ...

School masks spur state fights

As students prepare for the fall semester and COVID-19 cases tick up, school mask rules are fast becoming the latest front in the war over pandemic policy. Lawmakers are proposing state laws to govern mask policy, while angry parents pack school board meetings and clash over rules intended to halt the pandemic’s renewed spread. State officials haven’t issued mandates for students, leaving a patchwork of district policies and clashing bills in Harrisburg. “We believe that parents and legal guardians have the fundamental right to make health and educational decisions that are ...

Restaurant owners still need help

It’s a beautiful Saturday evening in the height of summer, but a banquet room sits empty and restaurant dining rooms are only half full. The pandemic may be coming to an end soon, but the devastating effects on the hospitality industry are here to stay. The Restaurant Revitalization Fund was established in March 2021 to be administered by the Small Business Administration as the last lifeline of support for hospitality industry operations devastated by the COVID-19 pandemic. As of June 30, 2021, the fund officially closed, having exhausted the $28.6 billion it was initially ...

Is the ‘Thank You’ dead now?

Just in case you didn't notice, the world has changed. It's no big deal because it is continually changing if we notice or not. Many of the changes are for the better, and, as you might guess, some are for the worst. If like me, you are still waiting for a "thank you" for a gift given for a recent birthday, graduation, birth announcement, wedding or some other notable event, welcome to one of the worst changes. Now, this is not just a grumpy complaint from a grouchy old man, although I definitely qualify. This is an indication of a much deeper problem within our society. The ...

Infrastructure: More than just concrete

By Thomas P. Foley and Stephanie Nycum Doliveira In the depths of the Great Depression, a new word took hold in the American lexicon. “Infrastructure” would embody an innovative approach to propelling the economy forward by hardening the ties connecting a patchwork nation. We still rely on physical infrastructure to get people to work and goods to market, but language changes, and the “infrastructure” label has flexed to accommodate the 21st century. Since as far back as 1998, leading economists have cited the “care infrastructure” as a key pillar upholding a U.S. ...