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We're spending/injecting $7 to create $1 of "growth" in GDP. And thanks to the ratchet effect, there's no going back now without systemic disruption. Does anyone seriously believe spending $7 to birth $1 of "growth" is sustainable?
Out of control spending must be examined and admitted so that the task of protecting the Homeland can be updated and maintained.
By some studies, today it requires roughly 6 new debt dollars to create $1 of net GDP growth. This is due to the diminishing return on debt, again a concept that goes alongside debt saturation. As more debt is added to the system...
We all know by now that Meredith eats kittens for breakfast, deserves to be grilled by Joe McCarthy's exhumated corpse for telling communist truths, pardon, lies. But just in case she is on to something, here comes the president's plan...
Citing scheduling conflicts, Ms. Whitney has declined an invitation to appear before the panel of the House Oversight and Government Reform. But Rep. Patrick McHenry, R. of North Carolina, said that would not dissuade him from investigating her...
Dozens of Michigan's municipalities and school districts could soon face major financial problems and an unnamed handful are on the brink of becoming insolvent, warns State Treasurer Andy Dillon.
The left, obviously, is pushing for more Federal aide for the states, with the goal of bailing out the public unions And the right is eager to cheerlead the demise of the states for the same reason.
As I pointed out in my annual Ticker, we are on a path toward a $2 trillion deficit this calendar year, and I have no expectation, and neither should you, that we'll get away with that.
Host:
Ernest Hancock
Glenn Jacobs - Citizen X - Today's Economy
Uncle Sam claims to be broke, but some, like Walter Burien, have exposed vast hidden assets to be taken to repay we the people.
Budgeted net interest on the public debt was approximately $189 billion in FY2009 (5% of spending). During FY2009, the government also accrued a non-cash interest expense of $192 billion for intra-governmental debt, primarily the Social Security Trus
Financial markets function to discount the future. Usually, by the time you read about something in the newspaper, financial market pricing has already “discounted” that event weeks, months, or perhaps even years before it hits the front page and bec
Host:
Ernest Hancock
Glenn Jacobs - Citizen X - Today's Economy
Those who were early to grasp the single most important business dynamic of our era -- the Ponzification of America -- turned what is an unfurling disaster for our country into a money-maker for investors. Eisman taught Whitney, and they were both...
Will it detonate all municipal debt? No. But that's not what Meredith said. She said that there would be "many" defaults and reach hundreds of billions in face value.
The secret to breaking the circle of debt is to adopt a policy of decentralization, and self sufficiency. To take back control of our local commerce and to establish micro-economies with self contained methods of trade.
Senate Democrats warned Thursday of dire economic consequences if Congress fails to raise the US debt ceiling, saying it could prompt a shutdown of the federal government.
A dazzling array of "solutions" are then presented to fill the engineered void, in which we find 40, 50 even 100 year bonds, callable coupons, floating rate bills (to reduce rollover risk) and even GDP-linked bonds
The Republican's who were elected on a platform of drastic cuts, have pulled back from their earlier aims. We already knew they wouldn't be as big as they campaigned on. Now we know they might not be even half of what was originally proposed.
Whitney has put out a clear warning that may save many who have, because of her warning, sold their muni bonds. However, somebody else appears just as determined to move the chess pieces to crush Whitney for her warning, and silence her.
The intifada between Meredith Whitney and the rest of the world just got uglier. According to Gasparino, the one-time Citi scourge has been called in to testify before the House TARP committee and explain her less than favorable position on munis.
House Republicans want to slice more than $30 billion from agency budgets over the next several months, a move aimed at making good on their campaign pledge to return federal spending to 2008 levels.
New York City's pension was on track to run out of money in ten years. Thus no one is surprised that Bloomberg has proposed for major reform.
Populist lawyer, Gary Fielder, presents “The Gig Is Up: Money, the Federal Reserve and You. Live from Wolfe Hall at The University of Colorado School of Law, on December 4, 2008, Mr. Fielder, a criminal and constitutional lawyer from Denver, Colorado
Back in October of 2009, when Congress first announced the formation of a commission to investigate the cause of the 2008 financial crisis, I knew immediately that their ultimate conclusions would support the agendas of their respective political par
Now, warning. This is a well-traveled document. It's clearly a photocopy of a photocopy of a photocopy. Much of it is totally illegible. But if you squint you can make out the arc of her argument.
But U.S. states aren't allowed. Now, a few policy makers and pundits are debating whether it's time to give states a court-sanctioned way to shed their debts.
With a budget proposal of 3.8 Trillion Dollars for FY 2011 about to be presented by Obama to Congress February 1st and $928.5 Billion dollars allocated for Defense, then maybe we should take a look there first to find a paltry 1 Trillion to stave off
If passed, Toomey's plan would require the government to cut large checks to foreign countries, and major financial institutions, before paying off its obligations to Social Security beneficiaries and other citizens owed money by the Treasury...
These are very smart guys. My guess is they know the crisis is coming and they know they can't stop the crisis, so they want to get out in front of it. If they are out with warnings now, they will be in a better position to shape what follows...
