A little more than two generations ago, on January 20, 1961, in his only inaugural address, United States President John F. Kennedy called on his audience to support him in advancing the ideals of freedom and common prosperity. A little more than 50 years later, how have the U.S. and other Western nations fared in achieving President Kennedy’s goal?

Noted economic historian Niall Ferguson observed in a recent interview that the only real solution to Europe’s financial crisis is a full fiscal union—a true United States of Europe—that would be unquestionably under the leadership of the financial powerhouse, Germany.   Ferguson believes Europe could limp along for a while with Greece falling into step with EU demands and Germany digging deeper into its wealthy pockets.    However, he states that while “I am not a federalist… the costs of the single currency disintegrating are really so high and would impact so many people, that t

Most of us grew up having learned childhood “fairy tales” about figures such as Santa Claus, the Easter Bunny and the Tooth Fairy. In our innocence, we may have believed them with all our hearts. They filled our young minds with fun and games. We happily “pretended”—and were encouraged to do so by our parents, who loved us and only wanted to make us happy.

Tensions in a resource-rich region of central Asia threaten to disrupt a 25-year ceasefire between Armenia and Azerbaijan.  The two nations signed a treaty after the Nagorno-Karabakh War (1988-1994).  However, in a direct provocation, Azerbaijani troops entered Armenia and killed three out-of-uniform soldiers.  An Armenian military source stated, “The killing is a clear provocation, we have not reacted yet.  I underline: ‘Yet’.”  The “war rumor” has raised concerns in the EU, Russia, and the U.S. due to the critical importance of the region.

Just imagine winning a prize of hundreds of millions of dollars with the only investment being a tiny piece of paper no larger than a book of stamps. This prospect of winning great wealth for just a few bucks, as pathetically remote as it is, often results in a frenzy of activity when the lottery shoots up—a frenzy that fuels itself. Especially huge numbers, such as the 2012 lottery of $640,000,000, grab headlines as wishful thinkers endure lines to purchase tickets hoping to get in on “The Poor Man’s Tax,” no matter the infinitesimal odds of winning.