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December 13, 2025 

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WILDCAT STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an outlaw strike.

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BANK BALANCE SHEET: A record of the assets, liabilities, and net worth of a bank at a given point in time. Assets are what a bank owns. Liabilities are what a bank owes. Net worth is the difference between the two and what is claimed by or owed to the owners of the bank. By definition, a balance sheet must balance. The assets on one side are equal to the liabilities and net worth on the other.

     See also | bank assets | bank liabilities | money creation | goldsmith banking | goldsmith money creation | deposit expansion multiplier | money multiplier | banks | banking | fractional-reserve banking | bank reserves | checkable deposits | savings deposits | monetary economics | liquidity | financial markets | money | Federal Reserve System | central bank | monetary policy | bank panic | bank run | monetary aggregates |


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MACROECONOMIC PROBLEMS

Undesirable situations that exist in the macroeconomy, largely because one or more of the macroeconomic goals are not satisfactorily attained. The primary problems are unemployment, inflation, and stagnant growth. Macroeconomic theories are designed to explain why these problems emerge and to recommend corrective policies.

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Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for high interest rates.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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