California tends to lead the way for other US states, which in the past was mostly good. But now the Golden State is about to become a Third World country, complete with deteriorating public services and a permanent, volatile underclass.
For more than 850 days the US has gone without a budget. The House passed one not long ago; the Senate tabled it. The Administration has not offered up one either. The absence of an approved budget means that the only way the country can continue...
Out of a bill that was supposed to cut government spending and waste wherever it is found, lawmakers managed to cobble together an additional $50 billion for the U.S. Defense Department's budget, using an accounting trick to disguise the move.
President Obama authorises measure to avert US debt default after Senate votes 74 to 26 to pass bill.
Winner of the 100k Power Line Prize contest to dramatize the federal debt crisis, presented by Power Line and the Freedom Club.
If Russian prime minister Putin’s recent description of America as “a parasite on the world” were reported by the US media, little doubt that most Americans would be infuriated. We are the virtuous people. Without us good guys to police...
In April, the future was looking dim for the SETI Institute's search for signs of extraterrestrial life, but a successful fundraiser means that some of its most key space-scanning equipment is back in action. After a drought of funding, SETI was forc
Great video by Felonius Munk on President Obama and the debt of the United States! Felonius Munk voted for Obama the first time, but I would bet he isn't voting for him the next time.
On December 5, 1933, Utah became the thirty-sixth state to ratify the repeal of the Eighteenth Amendment. Prohibition was dead.
OK, now you’ve seen the size of the problem that Congress is wrestling with this week. But what can we, and our elected Reps, do about this, to prevent a future recurrence?
Be very careful holding muni-bonds. A downgrade of a muni debt can be very costly in terms of interest rates for some of these municipalities---some of them, on their own, already are substandard credit risks.
And unless the Fed can continue to baffle them with bullshit, by declaring that the recession is here, but it is really good for your 401(k), California's troubles are only set to escalate.
Dylan Ratigan goes on a rant like none I have seen on TV in 7 decades of viewing. He used a phrase that should be on the lips of all Americans, "Trillions of dollars are being extracted form the United States of America...
U.S. stocks staged the biggest rally of the year, rebounding from a rout that wiped out $1 trillion yesterday, and Treasuries fell amid speculation the Federal Reserve may signal plans to safeguard the economic recovery. Oil rose from a 10-month low.
A Republican congressman from Texas recently told a gathering of tea party supporters that the impeachment of President Barack Obama "needs to happen," but when queried as to why, he could not say.
The Super Congress created by the recent debt ceiling increase deal is a typical example of something nefarious attached to a bigger bill that is rushed through Congress without giving Members ample opportunity to consider the full ramifications.
Former Federal Reserve Chairman, Alan Greenspan, appeared on MSNBC's Meet the Press where he made a shockingly blatant statement that is sure to make its way around the 'Net at lightning speed.
Ancient Greek mythology tells the tale of Odysseus, the heroic king of Ithaca whose 10-year journey home after the Trojan War became one of the world’s most famous epics.
The U.S. stock market joined a sell-off around the world Monday in the first trading since Standard & Poor's downgraded American debt and gave investors another reason to be anxious.
The reason the soverign debt issues in Europe will not go away is the same reason that the US economy's woes cannot be fixed – because alternative media is opening people's eyes to the nature of the world's central bank controlled...
There will be hundreds and hundreds of municipal downgrades, which will not do well to bolster investor confidence." The scary bit: "Treasuries may be able to shake off a real impact from the downgrade. Munis I’m less sure about."
An announcement by the Fed of yet a third QE stimulus package is a certainty. If the market reaction is especially negative this week, an announcement could even be made before this month is out.
Two take homes: i) the Fed has just lost its competitive advantage of doing idiotic things on a massive scale as the world wake up to tits trickery (unless of course the Fed resumes said thing on a massiver scale, which it will), and ii) tomorrow...
Rational discussion and factual analysis has been overwhelmed by a well funded program of propaganda and sloganeering, and bought and paid for politicians and media which serve to direct the discussions according to the program...
"The downgrade of U.S. federal debt could result in de facto credit downgrades of some state-level…debt, which has been priced and rated as if the federal government were the backer of last resort,"
The days when the debt-ridden Uncle Sam could leisurely squander unlimited overseas borrowing appeared to be numbered as its triple A-credit rating was slashed by Standard & Poor's (S&P) for the first time on Friday.
"The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," China's official Xinhua news agency said in a commentary.
We have just a few months before the next explosion. S&P has put the US on a negative alert. Meaning further downgrades are going to happen if the US fiscal house is not put in better order.
In case you were wondering if the debt-ceiling pact has ushered in a new age of thinking about military spending, the answer is no, hell no and no way. The hawks are determined to keep cuts in the Pentagon budget to a minimum over the next decade, an
We received an urgent notice that, effective immediately and until further notice, there is a freeze on all configuration changes, for all network devices across the globe, that have a role in the trading of US Treasury instruments, US debt...