After a grinding week of negotiations in the House of Representatives, the chamber's GOP majority finally approved Speaker John Boehner's plan to increase the nation's $14.3 trillion debt ceiling just ahead of the the Aug. 2 deadline for its expirati
Days ago, a Yale Law professor wrote an op-ed for CNN that mentioned a crazy-seeming idea for averting a debt meltdown that doesn't sound crazy anymore: have the Treasury Department exploit a loophole to mint two $1 trillion coins and use those to pa
'Many rural areas can't attract workers because there aren't any jobs, and businesses won't relocate there because there aren't enough qualified workers. So they are caught in a downward spiral.'
Ron Paul's "Impact of Monetary Policy on the Economy: A Regional Fed Perspective on Inflation, Unemployment, and QE3" Hearing July 26 2011 video Dr. Thomas M. Hoenig, President, Federal Reserve Bank of Kansas City
“I love my country. I don’t want it in debt like this. I don’t want it having a financial crisis,’’ said Jane Olive, a retired teacher in Las Vegas who sent $100 to the box this month. But the contributions don’t specifically go to pay off existin
Rep. Ron Paul (R-TX) explains why default by inflation is worse than default by not raising the debt ceiling.
George Soros blamed government regulations for a decision to scale back his roughly $25 billion hedge fund. Now, a U.S. senator is calling out Soros for being a flip flopper.
Doctors at a major Boston hospital report they are seeing more hungry and dangerously thin young children in the emergency room than at any time in more than a decade of surveying families.
In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine. The derelict neighborhood off Michigan Avenue is a sharp c
If There Were a 'Libertarian Terrorist' - Would libertarianism be to blame? Article by Lew Rockwell. / The Hidden Debt Risk That Could End the Empire - Don't throw us in that briar patch, Br'er Fox. Article by Mike Rozeff. / Forget Nelson Mandela and
WASHINGTON - Just under half of all Arizona mortgages were "under water" in spring of this year, the second-highest percentage in the nation, according to a report from a private research firm.
Barry Hess - Guest Hosting for Ernest Hancock
The CME Group has made it more expensive to trade Treasury futures in an effort to curb market swings created by growing fears of a government default. The latest action to cut back volatility comes after the Chicago firm, which runs the biggest s
We need a financial convulsion to sweep away the accumulated debris of poor choices, false hopes, squandered resources, frauds, swindles, and lies. Such an event can't help but set off a true political convulsion. Let the banks eat their own tails...
The average American household is carrying $75,600 in debt
Unlike banks, businesses, and even residential homes, most farms have little or no security. Most do not even have fences surrounding their crop fields and orchards, which means that the risk of being caught stealing is low, especially when under the
People have been anticipating it for some time. Now one can see it happening. And it looks like it is going to get worse. Entering the financial crisis in 2009, the Federal Reserve began creating money like nobody's business. The graph above illustr
But the people of America—us—are guilty of a strange sort of arrogance as well: It is not the arrogance of the sort that exagerates our own sense of self-importance or abilities.
Disengage From the US Government - It's time for domestic expatriation, says Fred Reed. / The Torturer vs. Joan of Arc - Becky Akers on the inhuman face of the regime. / Accidentally Conceived in 1971 - The gold baby is now due, says Arthur M.M. Kr
“The swings in purchases of fuel and food have been “dramatic,” Tavares said. The volume of gasoline purchases placed on credit cards jumped 39 percent last month from a year earlier, compared with a 21 percent increase in June 2010...
The rising cost of college and lack of income growth has pushed many students into massive amounts of debt. Many older Americans like to talk about the days when they went to college and paid for their schooling with a part-time job.
There is no budget focus on the illegal wars and military occupations that the US government has underway in at least six countries or the 66-year old US occupations of Japan and Germany and the ring of military bases being constructed...
We know two things: 1) the official policy of the Federal Reserve is to engineer and maintain inflation and 2) inflation is theft.
Mr. Speaker, I rise to speak against HR 2560, the Cut, Cap, and Balance Act. This bill only serves to sanction the status quo by putting forth a $1 trillion budget deficit and authorizing a $2.4 trillion increase in the debt limit.
Barry Hess - Guest Hosting - Updating us on today's news.
The authorities have grossly underestimated the severity of the housing crisis and are still refusing to confront some of its key elements, such as the broken servicing model and chain of title problems.
Barry Hess - Guest Hosting - Updating us on today's news.
Among states, Arizona had the highest percentage of undercapitalized local banks at the end of the first quarter, the most recent period for which data are available, after applying a proprietary stress test developed by Invictus.
Without real change default is inevitable. Default happens every day through monetary policy tricks. Every time the Federal Reserve engages in more quantitative easing and devalues the dollar, it is defaulting on the American people by eroding thei