In less than 2 days, if the Treasury secretary can be believed, the Treasury will not have enough money to pay all its bills and will have to prioritize.
Tomorrow, Oct. 17, the Treasury Dept will run out of money and will no longer have the ability to borrow the funds needed to pay government's bills. The federal debt ceiling of $16.699 trillion was actually reached on May 19, but
Economists see greater financial danger from an historical default. Christine Lagarde, the International Monetary Fund’s managing director, spoke fearfully about the disruption and uncertainty, warning on Sunday of a “risk of tipping, yet again, into
Nobel Committee awards 3 Am. Keynesian Economists, 1 for 'predicting' the Housing Bubble...in 2005, when Ron Paul did in 2001!
Fitch Ratings announced it was accelerating its timetable for a potential US credit rating downgrade, citing brinksmanship in Washington. Fitch would become the second credit rating firm to downgrade US government debt, which could
If stocks, bonds and real estate all decline going forward, where are pension funds going to earn their 7+% annual yields?
Are we on the verge of another major economic downturn?
A millennial’s message to automakers
There is no safe haven, Marc Faber tells Bloomberg TV's Tom Keene, "The best you can hope for is that you have a diversified portfolio of different assets and that they don't all collapse at the same time."
We are now into a second week of a partial Federal Government shut-down, which is causing considerable concern, centred on the Government’s ability to finance its debt and pay interest without a budget agreed for the new fiscal year.
We now appear to be close to the day of reckoning that likely determines what the coming weeks/months hold.
Normally Treasury Bills are not something discussed around the dinner table or hotly debated on the business news channels.
...after a power outage at Xerox Corp, made EBT usage in 17 states for most of Saturday impossible, and left tens of millions of poverty-level Americans unable to engage in one of their favorite pastimes: shop with other people's money.
The president of the World Bank on Saturday warned the United States was just "days away" from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default.
Abandoned carts full of food were a frequent sight in grocery stores Saturday morning, as the EBT food assistance debit system stopped working without warning.
Alex is joined via phone by former Congressman Dr. Ron Paul to discuss the current state of affairs in the US Government, the problems inherent in the Government shutdown and the issues with Obamacare.
I joked at the beginning of the shutdown charade that the only way average America would get upset about the government shutdown was if it took away beer or trash television. OK, I was being cynical. But it so happens…it so happened!
Now that Janet Yellen has been named to lead the Federal Reserve the global financial markets should factor out any possibility that the Fed will diminish their Quantitative easing program anytime during her tenure.
17% of the government is going to getting a late paycheck, in a political drama channeling rage against seized-up tax and seize Obummercare, and longstanding business and investor uneasiness about what may come of unstoppable over-stocking at the D.C
At first, you know, I was predictably grumpy, visibly upset by the ugly news that the lawsuit against the Commodities Futures Trading Corporation, et al, for rigging and manipulating the silver market, was thrown out. The reason?
As regular readers know, the biggest (and most important) disconnect in the US banking system is the divergence between commercial bank loans,...
Barack Obama is warning that if he does not get everything that he wants that he will force the U.S. government into a devastating debt default which will cripple the entire global economy.
You do NOT have to comply with obamascam! 2 near the bottom! Page 2 NATIONAL FEDERATION OF INDEPENDENT BUSINESS v. SEBELIUS Syllabus-------Held: The judgment is affirmed in part and reversed in part. 2. Chief justice Roberts concluded in part III
“The American people should realize that their politicians play with their destinies as well as the destinies of other oppressed nations for the sake of their personal vested interests,” the Taliban said in a statement.
As the FedGov continues to make the interest payments on the debt (and continues to roll over debt as it matures), the US is not in default.* I'm seeing the "default" meme being pushed hard by those who have a vested interest, namely,
Increasingly worthless Federal Funny Money – and increasingly hard-to-find decent-paying jobs – have put an economic choke-hold on millions of Americans, compelling them to cut back on everything that’s not absolutely essential.
Many people signing up for health care in Florida through the Affordable Care Act have been shocked when they have to give proof of their credit score before they finish the process.
“These are not unforeseen consequences, but rather an obvious scheme by Too-Big-To-Fail (TBTF) banks to evade the consequences for their misconduct by further abusing their duties to investors,” AMI wrote. “This affects our clients, and in turn, the
12 Very Ominous Warnings About What A U.S. Debt Default Would Mean For The Global Economy
Dear young people of America, I’m sorry. You’re entering a world that has condemned you to slavery before you were even born.