The U.S. set the forces of globalization in motion, and now more than ever, it's clear we're suffering the consequences: high unemployment, stagnant or declining incomes, and rising costs for goods. Can the policies of the surging Tea Party provide solutions, or will they just make matters worse?
Fuel efficiency remains the top concern among new car buyers around the world, which is likely to boost demand for hybrid and electric vehicles, according to a report from KPMG. But the survey of senior auto-industry executives worldwide also showed that many have serious concerns about such vehicles' affordability.
Former US Treasury Secretary Robert Rubin today painted a grim picture of the global economy. In the West, he said, economic growth is unlikely to return to earlier, more robust levels anytime soon.
There's an old adage, "Be careful what you wish for: You might get it." And so, with the Tea Party's free-market philosophy triumphant, the group is now blaming the federal government for the unemployment their vaunted free market put in motion.
The third quarter's 3.5 percent GDP increase signaled to many that the recession had ended. But that figure was revised downward to 2.8 percent, and then again to 2.2 percent. That calls into question the data collection process and the value of these "headline" numbers.
