Is Arizona's Budget Deficit Really $2.1 Billion?
• AZcentral.comThe report estimates Arizona's current deficit at $2.1 billion, nearly triple the $825 million cited by the Legislature and Gov. Jan Brewer.
Contents Pages by Subject
Government Debt & Financing
Is the Fed Really Purchasing Over 60% of 2011’s Fiscal Deficit?
• Gonzalolira.blogspot.com/In other words, the Fed would be dancing the Monetization Waltz, just like Latin American countries used to back in the 1970’s: Proof positive that America is indeed a banana republic—only with nukes.
Congress is Playing A Game Of Chicken With The National Debt
• Market-ticker.orgLet me be clear: If you extend the debt ceiling and by doing so allow deficits of this sort to continue for another year, say much less two, you will have placed a loaded shotgun in the mouth of this nation and pulled the trigger.
US Closed 2010 With $14,025,215,218,708 Debt: Debt Ceiling Showdown
• ZeroHedge.comWhich means at a run rate of $125 billion in net monthly issuance, the US may not even get to the end of March at the current burn rate. Which also means Congress better start the discussion on raising the debt ceiling as soon as February.
Goolsbee: ‘First default caused by insanity’ if debt ceiling not raised
• RawStory.comPresident Barack Obama's chief economic adviser warned Sunday that "the impact on the economy would be catastrophic" if Congress fails to raise the debt ceiling.
Demise of Iraqi water park illustrates limitations, abuse of U.S. funding program
• Washington Post[After a $1M, US taxpayer project,] the Baghdad park is nearly waterless. Much of the compound is in ruins, swing sets have become piles of twisted steel, and the personal watercraft's engines have been gutted for spare parts.
2011 - The Year Of Catch 22
• ZeroHedge.comBy mid-year confidence in Ben’s master plan will wane. He is trapped in the paradox of Catch-22. When you start hearing about QE3 you’ll know that the gig is up.
‘Insanity’ if debt ceiling not raised: Karl Denninger's Thoughts
• Market-ticker.orgWhen you speak of "playing chicken", to which chicken are you referring? The one where Congress refuses to play this game and demands that The Administration and Congress actually find the revenue...
Obama Administration: ‘Insanity’ if debt ceiling not raised
• RawStory.comIf we get to the point where you've damaged the full faith and credit of the United States, that would be the first default in history caused purely by insanity."
Niall Ferguson Video Lecture - "Empires On The Verge Of Chaos"
• ZeroHedge.comThroughout history the rise and fall of empires isn't slow or cyclical, as we like to think, but arrhythmic...it mostly happens very, very suddenly. America is a superpower on the edge of chaos...
Federal Debt Ceiling Fiasco: Beware The Ides Of March
• ZeroHedge.comThe ultimate showdown will occur over extending the $14.294 trillion debt limit, probably by early March.
Debt Inflection Point: Bernanke Has 5 Months To Announce QE 3
• ZeroHedge.comThe benefit from the fiscal stimulus has already been negated by the jump in oil and other commodity prices, whereby the token weekly paycheck increase has been more than offset by gas price increases...
The Lull Before The Storm: What’s Coming in 2011
• gonzalolira.blogspot.com/However you look at it, the States have a huge collective hole in their budgets. And this hole is going to get worse, before it gets any better—just like the Federal government’s massive yearly deficit.
We Have Sold Our Grandchildren Into Perpetual Debt Slavery
• BusinessInsider.com/But the American people don't want to hear that we have spent decades creating a horrific debt crisis that is not going to be easy to fix.
Brownian Schism
• dailybell.comLet sovereign money rule (at a state level).
16 U.S. Cities That Could Face Bankruptcy in 2011
• finance.yahoo.com2011 will be the year of the municipal default. At least that's what analysts like Meredith Whitney predict, as do bond investors that have been fleeing the muni market.
Nation’s poorest state spent over $500,000 on governor’s travel
• RawStory.comThe poorest state in the nation has spent over $500,000 on the governor's air travel since 2007.
The Faults of Fractional-Reserve Banking
• lewrockwell.comAustrians Do Not Call for Establishing a Gold Standard by Decree
How to Defend the Free Market Gold Coin Standard: Stop Defending the Government Counterfeits
• lewrockwell.comWhat is "it"? The logic of the free market.
Meredith Whitney Discusses Muni Bond Crises: 50 to 100 to Fail in 2011 (60 Minutes VIDEO)
• themarketfinancial.com/Whitney predicts that we will see a number of large defaults next year (50+), and makes the case that their are some serious structural issues in the muni markets.
Meredith Whitney Getting Trashed For Terrifying Muni Default Call
• BusinessInsider.com/Which means that Meredith Whitney has done it again.
Truth About Bigger Wall Street Bonuses
• dailybell.comThey work hard; they need to get paid.
Meredith Whitney on CNBC: The Muni Meltdown
• EconomicPolicyJournal.com & CNBC.comMeredith Whitney appeared on CNBC today defending her important call about the very real problems in the muni bond sector.
End of Military-Industrial Hegemony?
• dailybell.comWe need new solutions to ensure the Anglo-American axis remains on top.
Why the United States of America is Broke
• GlobalEconomicAnalysis.blogspot.comWhile this graph puts the US defence budget at $US711 billion in 2009, that doesn't include a number of "off-budget" items that, on some estimates, push US defence spending above $US1.3 trillion
$2 Trillion Debt Crisis Threatens To Bring Down 100 US Cities
• guardian.co.uk/businessOverdrawn American cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the US economic recovery.
Exclusive: US empire could collapse at any time, Pulitzer winner tells Raw Story
• RawStory.comAmerica's military and economic empire could collapse at any time, but predicting the precise day, week or month of its potential demise is unattainable, according to a former New York Times war correspondent who spoke with Raw Story.
Porter Stansberry: The End of America Video
• www.stansberryresearch.comIn this video presentation, Porter Stansberry methodically lays out his case for why a currency crisis is coming to the US dollar...
$24.5 Trillion In US National Debt, $144 Trillion In Unfunded Liabilities In 2015
• ZeroHedge.comAt an estimated $24.5 trillion in federal debt, our $2 trillion per year run rate is spot on. Another thing that is spot on: our prediction that the US will need not one but two debt ceiling increases in 2011.
"Black Swan" author Nassim Taleb on the Debt Crisis, on Davos, on Regulation (VIDEO)
• GlobalEconomicAnalysis.blogspot.comOver here we have had a much larger tumor and we have not been diagnosed. When you are pumping more and more painkillers [qe2s], you stay in the same place and there are harmful side effects. Here, we are not yet at a consciousness.
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