So what will happen? In the end, I’d argue, what must happen is an effective default on a significant part of debt, one way or another.
Ministers were asked if money earmarked for schools, hospitals and low-income families could be used to meet soaring fuel bills
The Labor Department begins the faux hearings today in advance of the confiscation fo 401(k), IRA and private pension accounts. The 11 trillion in these acounts will be converted to treasuries and bonds and sold to creditors of the corporate US gove
What received less fanfare was that the comparable increase in debt in the month of August 2010 was $212 billion, compared to $143.6 billion a year earlier. In other words, more than twice the the deficit had to be issued in the month of August.
For perspective: At the time that 2008 article was written, the entire supply of money in the world (“broad money,” i.e., global M3, meaning cash, consumer-account deposits, checkable accounts, CDs, long-term deposits, travelers’ checks, money-market
A January plan to throw hundreds of millions of dollars in bribes at “low-level” Taliban fighters in the hope that they will switch sides and back the US-led occupation took a summit earlier this year by storm.
President Barack Obama proposed spending at least $50 billion to rehabilitate the nation’s transportation infrastructure to help spur an economy that’s lost jobs for three straight months.
Rogers said that with central banks "flooding the world with money," the only place to invest right now is in real assets, whether it's in "silver, or rice or natural gas."
By contrast, military manufacturing is now 123 percent greater than it was in 2000 -- it has more than doubled while the rest of the manufacturing sector has been shrinking...
Not China, not Russia, not North Korea, not Iran, not terrorists...According to Admiral Mike Mullen, the Chairman of the Joint Chiefs of Staff, the "single biggest threat" to American national security is the US national debt...
Since Sept. 2008, or the month when capitalism collapsed, the US government has undertaken the most peculiar matching program: for every dollar of individual tax revenue, the government has issued just over one dollar of incremental debt.
Morgan Stanley have published a report, and while it makes some interesting points about who is going to get hit when sovereigns begin to exact "Financial Oppression" on creditors what we're most interested in is the discussion of debt to GDP ratios.
Forget the official debt,” he tells Aaron in this clip. The “real” deficit - including non-budgetary items like unfunded liabilities of Medicare, Medicaid, Social Security and the defense budget - is actually $202 trillion, or 15 times the “official"
It boggles the mind to think what research could be conducted and products produced and created if that money was available for the business sector.
This makes the U.S. government bond rally, or bubble depending on your view, even more peculiar. You can't blame it on China propping the market with its standard dollar-recycling activities anymore, it seems.
When Cameron failed to win the election outright in May and had to share power with Clegg’s Liberal Democrats, many feared a government as underwhelming as his election campaign. Yet, it has emerged as a radical force.
The GSEs are nationalized now in all but writing, this would be logical. Alas, the fact that US Debt to GDP would jump from 90% to 140% may make this proposal a little difficult to implement.
Gov. Arnold Schwarzenegger on Wednesday brought back furloughs for thousands of state workers until California passes a budget that addresses a $19 billion deficit.
The United States and it's debt.
Party treasurer faults Steele The Republican National Committee failed to report more than $7 million in debt to the Federal Election Commission in recent months - a move that made its bottom line appear healthier than it is heading into the midte
"We cannot solve our problems with the same thinking we used when we created them."
Do we spend $1 trillion a year on foreign policy? That was a claim recently made by Rep. Ron Paul (R-TX). The statement got the attention of the folks over at Politifact. They reviewed it, and they found it to be true:
The government’s “spending on weapons through 2016 likely will grow faster than the overall defense budget, which will have annual increases of only about 1 percent above inflation”, Mr. Cappacio reported.
Cash-strapped post office announces plans for 2-cent rate increase in January
The 2010 edition of “Federal Spending by the Numbers” shows spending and deficits continuing to grow at a pace not seen since World War II. Washington will spend $30,543 per household in 2010—$5,000 per household more than just two years ago.
Let’s see…what’s in the news today? Stocks went down again yesterday. The Dow got trimmed by 96 points. Gold, on the other hand, went up $3 to $1,245.The first half of the year came to a close with the S&P 500 down 6%, global stocks down 10%, oil do
House Minority Leader John Boehner (R-Ohio) . . . that the Social Security retirement age should be raised to 70. . .Ensuring there's enough money to pay for the war will require reforming the country's entitlement system, Boehner said
Pentagon leaders, the military services and contractors must work together to cut bloat and unnecessary programs, the chairman of the JCOS said Thursday. .The goal is to find more savings within the defense budget without cutting the top-line number
It’s interesting how the deficit hawks always discuss wasteful government spending . . the web of political and economic relations weaving together the military-industrial-congressional complex, or MICC, operates according to its own internal rhythms
The move is intended as a moneymaker for a state facing a $19 billion deficit. The device would mimic a standard license plate when the vehicle is in motion but would switch to digital ads or other messages when it is stopped for more than four secon