“The Disappearing Black Middle Class” ran the headline over the Chicago Sun-Times story. And the statistics from the Economic Policy Institute were indeed sobering. In 2007, best year of the Bush era, white households had a median net worth of $134,280, compared with $13,450 for black households. By 2009, the …
Seventy-one years ago this spring, after the German army had broken through the French lines, British Prime Minister Winston Churchill flew to France to consult his embattled allies on how to stop the advance. “Where is the strategic reserve?” Churchill urgently asked the French commander in chief, Gen. Maurice Gamelin, …
Last year, Barack Obama committed his administration to doubling U.S. exports in half a decade. The good news: He is on the way. U.S. exports of goods and services grew in 2010 by 16.6 percent. Bad news: U.S. imports, starting from a higher base, surged by 19.7 percent. Result: The …
What America was to the world in 1950, General Motors was to the nation. It was the largest and most successful company with the largest number of employees. It paid the highest wages and contributed more in taxes than any other company. During World War II, no company had contributed …
“Conservative Tycoon … Dies at 95,” said the New York Times headline on New Year’s Eve about the death of Roger Milliken. Clearly, the headline writer did not know the man. For Roger Milliken exemplified the finest in American free enterprise. He cared about his workers. He cared about his …
Buried in the Oct. 30 Washington Post was a bland headline: “Report Points to Faster Recovery in Jobs for Immigrants.” The story, however, contained social dynamite that explains the rage of Americans who are smeared as nativists and xenophobes for demanding a timeout on immigration. In the April-May-June quarter, foreign-born …
Missiles fired from the Chinese mainland could destroy five of the six major U.S. air bases in the Far East. So states a new report of the U.S.-China Economic and Security Review Commission, adding: “Saturation missile strikes could destroy U.S. air defenses, runways, parked aircraft, and fuel and maintenance facilities. …
For those who can yet recall the backyard blast furnaces of Mao’s China in the 1950s and the Great Proletarian Cultural Revolution to re-instill peasant values in the 1970s, the news was jarring. In 2011, said the Financial Times, China will surpass the United States as first manufacturing power, a …
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