The headline reads: Bush Approves Army Reorganization. The headline is of course complete nonsense. The details highlight a complete waste of money. This is not a "support the troops" agenda but rather a "keep more troops in harm**
Bond insurers who back municipal bonds are on shakier ground. Here's what that might mean for your portfolio
This has sucked in the best and the brightest people on earth, those who allocate capital. They trusted Alan Greenspan. They trusted artificially low interest rates. They trusted fiat money.
A growing number of Americans expect a U.S. recession in the next year as the housing slump and steep food and energy prices sour sentiment. Of the likely voters surveyed, 43% said they expect a recession
It is obvious here that the emperor has no clothes. There is going to be a global collapse in derivatives as soon as a key counter party defaults. ACA is one such domino.
U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68% nationwide compared with the same month a year ago, according to a mortgage research company.
The opinion of another shrill hysteric? Just David M. Walker, the Comptroller General of the United States and head of the GAO: In a speech today at the National Press Club, he said, "If the federal government was a private corporation and
Retirement benefits for U.S. public employees could cost states some $2.73 trillion over the next three decades, according to a report released on Tuesday by the Pew Charitable Trusts. While states have saved about $2 trillion to meet these oblig
With concern growing about a possible recession, the United States is leaning increasingly on other nations as a source of economic growth. It's not that the export of American-made goods can single-handedly prevent a slump if US consumers sta
If this $500 billion "emergency funding" was just a year-end phenomenon, that would be one thing. But this is not a liquidity issue this a solvency issue and a growing solvency issue as well.
U.S. stocks posted their biggest two- day drop in more than a month, led by energy companies and miners, on growing concern that the U.S. economy will slow.
President Bush said the US economy was basically strong but warned of "storm clouds" in the form of a credit crunch and what may be a bursting housing bubble. There's definitely some storm clouds and concerns, but the underpinning is go
The government is promising $45 trillion more than it can deliver on Social Security, Medicare and other benefit programs. That is the gap between the promises the government has made in benefits and the projected revenue stream for these programs ov
This chart gives new meaning to the phrase "fell off a cliff".
Reducing our entitlement programs here at home is not against saving the children, as the rhetoric goes, it is about saving the country's economy. We have huge trade imbalances, massive deficits, and a $9 trillion national debt, which balloons to
If you do not eat, drink, or drive, or need medical care you are in great shape. Then again, perhaps that makes you a robot. It's hard to say if this is the last hurrah for higher CPIs or not (I think it might be), but it does not take much diggi
Steve Martin on Saturday Night Live gets a valuable lesson in debt management, don't buy stuff you can't afford. It sounds so simple, so then why are so many people in debt? I know many people who could use this one page book.
Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are “clearly rising” and he believes economic growth is “getting close to stall speed.”
However, what needs to be fixed first is Schwarzenegger. State spending has gone up a whopping 40% in four years and earlier this he wanted $500 billion to build California the way it ought to be...
$5000 an ounce gold may ultimately be scant compensation for financial and societal breakdown if you have government agents breaking your door down with a sledgehammer...
Hidden in the headline U.S. Housing Crash Deepens in 2008 After Record Drop is the fact that it's not just housing we are talking about. U.S. office sales fell 70 percent in October from a year ago, industrial sales declined 24 percent, and retai
California's budget deficit is worse -- far worse -- than economists predicted just a few weeks ago. The shortfall is not $10 billion, but more than $14 billion -- a 40% jump.
At the end of 2006, there were approximately 3.5 million U.S. homeowners with no or negative equity, (approximately 7% of the 51 million households with mortgages).
Let's take a look at what happens when guarantors go bust through the eyes of CIBC, a large Canadian bank that has "guarantees" on CDOs that are likely to prove worthless. The guarantor of these derivatives may as well be Madame Merriwe
Retail sales were solid in November as the holiday shopping season got underway, but a good portion of consumer dollars went to higher-priced gasoline, which also pushed wholesale inflation up by the largest amount in 34 years. The Commerce Depar
European stock markets closed sharply lower Thursday, taking their lead from heavy losses in Asia as investors turned skeptical about efforts by the major central banks to ease a dangerous global credit squeeze. [borrowing our way to prosperity]
Emilio Martinez said he's reviewed 300 Watsonvill homes in foreclosure from the past three months and found 78% owed more than they paid for their home.
The problem with foreclosures has really just started. Looking at the above chart perhaps we get a bounce in 2009 before the final collapse heading into 2012.
[This is the last thing the Fed can do.] Central banks around the world banded together to stem a mounting credit crisis on Wednesday in their first coordinated action since terror attacks shut down U.S. financial markets on September 11, 2001. Th
Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a "perfect storm" for consumers as the housing slump spreads. In a report "Recession Coming" released tod