An interesting set of statistics provided by Michael Synder The following are 41 statistics about the national debt that are almost too crazy to believe…. 1 – As of June 20th, the U.S. national debt was $14,344,524,186,068.19. 2 – 30 years ago, the U.S. national debt was approximately 14 times smaller. 3 – It took from the presidency of George Washington to [...]
Unfunded Liabilities
Why We are Bankrupt
The real problem facing the government is not the $14.3 Trillion in Federal debt. Sure, it is too high and must be reduced. Yet the unfunded liabilities are the real problem and are multiples larger. This issue is dealt with by the Cato Institute in this policy analysis entitled Bankrupt: Entitlements and the Federal Budget by Michael D. Tanner. Here is [...]
QE Forever, Again
More on The Fed and why QE is coming. That has been my position in recent posts regardless of what happens in the economy. Here is a similar take by “traderjoe” in a response to a Zerohedge post on Thu, 10/07/2010 – 14:57 #633466: The Fed has no choice. It’s not an excuse, or even a reason, but they have no choice. [...]
Returning to the Basics
How do we solve our immense problem? No, not the economic problem, THE GOVERNMENT PROBLEM. Solve the government problem properly and there will be no more economic crises. NONE! PERIOD! Ron Holland defines part of the problem thusly: The Washington federal government can never pay off the massive $100 trillion plus national debt and unfunded liabilities the politicians of both [...]
Welfare States – R. I. P.
“The worst thing in the world next to anarchy is government.” Henry Ward Beecher Bloggers post what they claim to be the “scariest economic chart” or the “chart of the century.” Indeed, many data sets are frightening, but none more so than the one to the left. Modern government has failed. These countries are insolvent and will default. Jagadeesh Gokhale compiled [...]
Sovereign Defaults Dead Ahead
The impending sovereign debt crisis is either upon us or just around the corner depending upon how you define time. If you thought 2008 was interesting, you ain’t seen nothing yet! The BIS (Bank for International Settlements) is the central bankers bank. When it makes pronouncements, one must listen. The Telegraph reports: “The Bank for International Settlements does not mince words. [...]