The Senate rejected a plan backed by President Obama to create a bipartisan task force to tackle the federal deficit this year despite glaring new figures showing the enormity of the red-ink threat. The special deficit panel would have attempted to p
Explosion of abandoned homes in Maricopa County (Phoenix, AZ) that are now being acquired by paying back taxes. The opportunities and dangers of this phenomenon is being discussed today with Tom Westbrook.
A 7 min rap video that explains all you need to know about austrian economics vs keynesian. After this quick video, you will be able to impress your friends and family with your amazing grasp of the boom and bust cycle.........
The FreedomsPhoenix crew takes a trip to Quartzsite, Az and spreads the message of freedom. Government has gotten a toehold there and we're prepping the locals and visitors of what's to come. / Jack Gregson (FP Economics Columnist) in Studio.
The Senate is likely to reject a White House-backed plan to establish a bipartisan task force to recommend steps to curb the deficit, as lawmakers digest the news President Obama wants a 3-year freeze in the domestic budgets they control.
Under mounting pressure to rein in mammoth budget deficits, President Obama will propose in his State of the Union address a three-year freeze on federal funding that is not related to national security, a concession to public concern about governmen
Hanrahan's articles explore key elements of the story that reporters should have been -- and should still be -- writing about. Among them: The endemic fraud at the heart of the collapse, the resultant need for a comprehensive dissection of some key f
President Obama called on Congress to create a bipartisan panel that would look at ways to rein in the country's soaring deficits. Obama said the country faced a "serious fiscal situation" that stemmed from the recession he inherited from Bush
The Financial Stability Board, charged by the G20 to coordinate national regulation in response to the financial crisis welcomed US proposals to limit banks' size and trading activities. President Obama's plan could rewrite the world financial order,
One of Congress' premier watchdog panels is investigating Goldman Sachs' role in the subprime mortgage meltdown, including how the firm sold securities backed by risky home loans while it simultaneously bet those bonds would lose value
He can't pull back the stimulus too quickly, despite the public's concerns about rising deficits, because that could kill a fragile recovery. If he steps too hard on the throttle to create more jobs he risks feeding inflation and restarting the dange
Edward Hudgins examines Obama's arguments about banks and explains why the goal of all paternalists-that is, control over every aspect of our lives-necessarily entails stoking envy, resentment, and hatred of others.
The Problem is Systemic!
The monetary system will continue to bleed the U.S. economy dry even if the faces of the authorities change. Still, there must be accountability. Therefore, I invite you to join Mish, who wants to...
Last night on Stossel, John spoke about the private sector and how it drives technological innovation. One of the examples he gave was the fierce competition brought on by the Progressive X Prize, which is a cash prize for the first company to manufa
China’s lending curb sparks a rush for safety.”
That’s how The Financial Times describes what happened yesterday. Investors were more moved by fear than by greed. Dow sold off 112 points. Gold dropped $27. The dollar and bonds were up.
With recent news of inflation rising in Australia we turn an eye to the same eventuality at home in the US. Despite overwhelming growth in the monetary base, little inflation has yet to appear in government measures. Not that we’re one to trust thos
The US Supreme Court dismissed appeals by California Governor Schwarzenegger and Republican legislators of a federal court order to reduce the state's overcrowded prison population by some 40,000 inmates within two years.
Oh happy days are here again. Obama is going to get our money back from the banks. Jeffrey Sachs is telling Haiti how it can get its economy back in order (with other people’s money, naturally). And Thomas Friedman is offering investment advice.
The five largest elements are Social Security, Medicare, Medicaid, defense and interest on the debt. With interest rates near record lows, and certain to rise, and back-to-back $1.4 trillion deficits, this budget item has to grow and has to be paid i
The Federal Reserve garnered “record profits” during 2009, the largest amount it has ever made in a single year in its entire history. Fascinating, when considered against the backdrop of what the American taxpayer is facing – record levels of unempl
We were blindsided. We never saw it coming. So said Goldman Sachs CEO Lloyd Blankfein of the financial crisis of 2008. He likened its probability to four hurricanes hitting the East Coast in a single season.
U.S. stocks and commodities slid, while the dollar and Treasuries rose, as a loss at JPMorgan Chase & Co.’s retail bank and growing concern over Greece’s budget deficit triggered a flight from riskier assets. Crude oil fell for a fifth day.
Banks that have already repaid TARP capital will not be spared the fee, nor will firms that got no TARP money to start with, but nevertheless benefited from the stability it brought to the U.S. economy. Obama will propose a fee to recoup up to $117 b
EMPE, AZ -- More than 200 Tempe City employees could lose their job under a budget proposal that is currently being considered by the City Council. Many of those jobs are sworn police officer positions.
The City’s department managers submitted cut
“HELLO, earth to Americans, all we have to do is export to ourselves.” As in, out of the American factory and on to the American shelves. It’s an ancient tradition that was used to build America. It’s called a full circle economy.
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