There really isn't a recovery, and no signs of it on the horizon, because people have to pay the banks. It's a vicious circle - or rather, a downward spiral.

Governments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a government debt.

Inflation usually helps the economy at large, but not the 1% if wages rise. So the 1% says that it is terrible.

If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way up, investment and savings going up.

Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim is to make it appear that people who take money from the rest of the economy without working are productive, despite not really providing any service that actually contributes to GDP and economic growth.

The aim of academic trade theory is to tell students, "Look at the model, not at how nations actually develop." So of all the branches of economic theory, trade theory is the most wrongheaded.

There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like a safe haven if international exchange rates break down.