Ramifications: Any pools of money that require money managers by bylaws or other agreements to hold only AAA debt may be forced to sell Treasury securities. It is unclear as to the size of such pools, since some may have clauses that...
The US Postal Service warned on Friday that it could default on payments it owes the federal government, just days after the US government itself narrowly averted a default.
One of the top credit rating agencies, Standard & Poor's, has downgraded the United States' top-notch AAA rating.
United States of America Long-Term Rating Lowered To 'AA+' On Political Risks And Rising Debt Burden; Outlook Negative
America is transforming itself, without forethought, debate, or pause, into a command economy.
“Giving money and power to government is like giving whiskey and car keys to teenage boys. “ - P. J. O’Rourke
To give everybody an idea of how much the government spends each day on military contracts, the following information from the public affairs office of the Department of Defense is printed without further comment:
Judge Judy speaks out on where our tax dollars go in this case of Duane Brooks, Jr. who is scamming the government with all of his stipends, subsidies and assistance - and using none of it for what it was intended for.
Congressman warns new all-powerful committee will ram through tax hikes
Airing President Obama’s countless statements that any compromise would include increased tax revenues, Jon Stewart joined the chorus of those criticizing the debt ceiling deal reached by the House on Monday.
President Obama to sign into law measure to avert US debt default and cut spending after weeks of political wrangling.
The “historic, bipartisan compromise” reached to raise the debt limit does not end the struggle to reign in the federal deficit — in fact, it pushes the most difficult decisions off into the future.
The money at your bank is insured against loss by the FDIC’s insurance fund, right? Nope. That’s total fiction. There is no actual money in the fund. The FDIC insurance money has already been looted by the U.S. Treasury which has simply...
Currency depreciation – High deficits, both fiscal and trade, combined with low interest rates for extended periods of time produce declining currency valuations against more prosperous, and more policy conservative competitor nations.
Without political courage and with the political caving on the debt ceiling debate, this video gives us an idea of what our future may look like! Democrat or Republican, come the 2012 election throw all of them out and let's start things over wit
Let's give thanks that it's over because now the USA can get on with its systemic collapse honestly and fairly.
Empathy, for want of a better word, does not exist either in Congress or in the White House! An interesting word empathy. For those unfamiliar empathy is the identification with and understanding of another's situation. Empathy is a word not a
Up until 1917, the thing that is creating so much political turmoil right now—the U.S. debt ceiling—didn’t even exist. This New York Times video takes a look at the history of the debt ceiling and why it causing so much political infighting today.
If what I heard yesterday in the so-called "debate" on the floor of the House is an honest indication of what we can expect from Congress we're just plain screwed.
The risk-free rate is also known as the 3-month U.S. treasury bill! What happens if and when there is no risk-free rate? Will that happen when the United States is downgraded from AAA? What will happen to the CAPM? When I was in business
Joint federal military training exercises will take place within and around the Boston area between July 26th and August 5th. Military personnel will conduct training exercises to ensure the military’s ability to operate in urban environments...
The US dollar could plummet in exchange value and lose its role as world reserve currency. The US would no longer be able to pay its oil bill in its own currency, and as its balance of payments is heavily in the red, the US has no foreign...
Interest expense as a percentage of government, this year, if the MTS thus far is 9/12ths of the total (through June), will run $515 billion. This out of a budget of $3.8 trillion (approximately) is ~14% of the total federal budget.
August 2nd is nearly here and Congress remains locked in a stalemate over increasing the debt limit and avoiding a potentially crushing default.
"The 1st dime of each $1 of revenue services debt," he wrote. "Obama would be impeached if he blocked debt payments."
I’ve been astonished at how long the officialdom has been able to keep asset values (save US housing) at levels that are out of whack with fundamentals.
Judging by the comments of White House Chief of Staff, it is almost as if the administration would like to see a selloff. "In the end, we may have a few stressful days coming up -- stressful for the markets of the world and the American people,"
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
Disengage From the US Government - It's time for domestic expatriation, says Fred Reed. / The Torturer vs. Joan of Arc - Becky Akers on the inhuman face of the regime. / Accidentally Conceived in 1971 - The gold baby is now due, says Arthur M.M. Kr
Democracy = Freedom? - Tom DiLorenzo on an American myth. / The Great Default - Gary North on the feds, their mega-debts, and a tiny piece of good news (until 2014). / Another Republican Spending Fraud - Ron Paul on the evil "cut, cap, balance."