I have been digging into the details of President Obama's budget plan vs. Paul Ryan's budget plan. What I found was so sickening that I asked my friend Ross Perez at Tableau Software for a display.
In simple terms, China is done playing nice and is now actively moving out of US Dollar denominated assets. This is the beginning of the US Dollar’s end as world reserve currency.
"Grow the economy" and "avoid the debt bomb" eh? Listen to Gingrich. And listen to Kudlow: "growth, a strong stock market and budget surpluses." Oh really?
Things are certainly speeding up, and it is my conclusion that we are not more than a year away from the next major financial and economic disruption.
As big government conservative David Brooks approvingly noted--- Paul Ryan's budget plan “ is a serious effort to create a sustainable welfare state.” Paul Ryan wants to put the Empire on a diet, inorder to save the Welfare-Warfare State. If useful
The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan for a massive project to expand and upgrade an oil refinery–in Cartagena, Colombia.
President Barack Obama had a few testy exchanges during a White House interview with a local Texas reporter who berated and interrupted him several times.
Ratings agency Standard & Poor's has cut the outlook on US sovereign debt to "negative", raising doubts about Washington's ability to tackle its huge debt and fiscal deficits.
Congress focused on issues surrounding government spending this week as talk of deficits, the national debt, and the debt limit saturated the airwaves.
China's Foreign Ministry said on Tuesday that the United States must take "responsible" measures to protect investors in its debt after Standard & Poor's threatened to lower its credit rating on the United States due to a bulging budget deficit.
My biggest complaints against Obama's budget plan and the budget plan of Paul Ryan are: Neither plan balances the budget soon enough Both ignore interest on the national debt
Total debt is now at $14,305,336,580,992.11. This is a problem because as anyone who rails against the broken US fiscal apparatus should be able to tell you, the debt ceiling is $14.294 trillion. In other words we have now officially breached...
The Internal Revenue Service and the Tax Policy Center in Washington have some statistics that will likely make last-minute filers extra-irate today
Ron Paul's 2012 Campaign Book - Ron explains the 50 urgent issues affecting our freedom, in Liberty Defined. / Loopholes Are Freedom - Tom DiLorenzo wants more and more and more. / One Billion in Gold Bullion for the University of Texas - The UT endo
These are important times. Every word is important, every speech is necessary. America will be saved once the politicians agree on the proper plan.
Our country is on the verge of financial Armageddon!
A real stunner. S&P just downgraded the US debt outlook to negative. Stocks just moved violently lower.
We continue to be astounded by the emergence of the pro-default meme within financial circles.
Americans make it clear they want to keep common federal income tax deductions, regardless of whether the proposed elimination of those deductions is framed as part of a plan to lower the overall income tax rate or as a way to reduce...
TIC data is notoriously flawed and always incorrect, with at least half UK purchases being attributed to China post annual revisions it could well turn out that China was the only country actually buying US paper.
2011 Spending to Increase on Afghan War Costs
The Teleprompter Savant just received his latest high frequency directive from the Wall Street superiors, promptly delivering the latest MAD message to what continues to be perceived as an idiot audience: "Failure by Congress to raise the debt...
A new report released today by SIPRI, a Swedish-based think tank, reveals that U.S. military spending has almost doubled since 2001. The U.S. spent an astounding $698 billion on the military last year, an 81% increase over the last decade.
President Barack Obama said congressional action to increase the government’s debt limit will require a compromise with Republicans on trimming the federal budget.
In what he thought was a private chat with campaign donors Thursday evening, President Obama offered the most revealing behind-the-scenes account to date of his budget negotiations with GOP leaders last week.
US President Barack Obama accused his Republican foes of wanting to turn the United States into a "Third World" country Thursday as he rallied support for his reelection campaign.
The currency which in 2011 has traded like anything but the world's reserve currency is less than 1 point away from 2009 lows. But that could be just the beginning. Citi's head of FX has released a not warning about the potential avalanche...
Put most simply, in 2010, for every $1 of discretionary spending we spend $0.15 on interest. By 2020, for every $1 of discretionary spending we will be spending $0.50 on net interest payments.
One quote from Jamie Dimon is especially chilling: Now, here's what really would happen.
This coming May 16, the U.S. Federal government debt ceiling will be breached; that is, the national credit card—currently topped at $14,294,000,000,000—will be maxed out.