wp_title not returning page titles

I have the All in One SEO Pack and I’m having some difficulty displaying page titles. I disabled the plugin and found that page titles still will not display. Here is the related code from header.php:

<title><?php

	global $page, $paged;

	wp_title( '|', true, 'right' );

	// Add the blog name.
	bloginfo( 'name' );

	// Add the blog description for the home/front page.
	$site_description = get_bloginfo( 'description', 'display' );
	if ( $site_description && ( is_home() || is_front_page() ) )
		echo " | $site_description";

	// Add a page number if necessary:
	if ( $paged >= 2 || $page >= 2 )
		echo ' | ' . sprintf( __( 'Page %s', TEMPLATENAME ), max( $paged, $page ) );

	?></title>

The bloginfo( 'name' ) returns the site name properly however wp_title does not return the title of the page.

I have a feeling I may be overlooking something very obvious however I have gone through all the settings and could not locate a “show page title” option or something similar.

Here are the currently active plugins:

Contact Form 7 (v 2.4.5)
Easy Sign Up (v 2)
Exec-PHP (v 4.9)
Google XML Sitemaps with qTranslate Support (v 3.1.6.3)
jQuery Collapse-O-Matic (v 1.3.8)
WordPress Post Tabs (v 1.3)
WP Customer Reviews (v 2.2.9)