Twelve years into the 21st century, the dominant financial and economic fact is that we are still living in the wake of athe vast housing and mortgage bubble, which peaked in mid-2006, almost six years ago.  

The European Union (EU) has announced plans to levy a tax on airline emissions for all planes landing and taking off from EU airports. This tax would be calculated not only based on mileage flown in EU airspace but also for the entire length of the flight (thus, Chinese and Japanese airlines would be taxed for an entire journey from Beijing or Tokyo).

Opponents ofcredit-union charter conversion to banks do not havea reasonable position.

Attempts at austerity and deleveraging in Europe have converted an economic problem into a political dilemma, with leftist governments rising against Germany's austerity-laced rescue packages. Germany now faces a tough economic decision that will involve choosing between a breakup of the current euro system and a movement toward a common fiscal policy in Europe.

Many people, observing the severe problems caused by Greece and other financially weak members of the European Union, wonder why the United States is not similarly afflicted. After all, the structures seem quite similar; the EU is united through a treaty into a single political grouping, while the U.S. is a union of states in a constitutional system. 

Congress is currently considering H.R.1151, which changes the law that struck down an interpretation by the NCUA permitting credit union common bonds among unrelated employers.

With each passing day, Greece's economic and political malaise deepens despite one massive International Monetary Fund-European Union bailout package after another to keep that country afloat.

Portugal could avoid Greece's horrible fate if it were to draw the right lessons from the Greek experience.