Can we inflate the debt away?

By Robert Romano After a brief slowdown in fiscal year 2013 that ended September 30 — when the national debt grew “only” by $671.9 billion at a 4.18 percent rate — 2014 is shaping up to be another year awash in red ink. So far, since October 1, the debt has skyrocketed another $537.9 billion. And we’re not even halfway […]

Stop the presses! Fed taper won’t stop its $75 billion a month money-printing

By Robert Romano Stop the presses! Instead of adding $1.02 trillion of treasuries and mortgage bonds to its balance sheet a year, the Federal Reserve has announced starting in January it will just be adding a “mere” $900 billion. For that, headline writers the world over are proclaiming that the long-sought-for recovery is finally at hand. The Washington Post editorial […]

Fed’s $1 trillion a year subsidy to banks to continue under Yellen’s watch

By Robert Romano With the filibuster against most presidential nominees now eliminated — well, sort of, Senate Democrats did not actually amend the rules, they just voted to pretend they don’t exist — the confirmation of Janet Yellen to be the next chair of the Federal Reserve is all but certain. Which is too bad. Of all nominees, blocking cloture […]

UN aims for ‘complete transformation of the economic structure of the world’

By Pat Carlson and Cathie Adams The United Nations’ climate change meeting began on Nov. 11 in Warsaw, Poland, to discuss “global warming,” but when the globe stopped warming 16 years ago, the UN Framework Convention on Climate Change was forced to reveal its real agenda. Last year in Doha, Qatar, the treaty’s Executive Secretary Christiana Figueres told the world […]

Former Fed official: ‘I’m sorry, America’

By Robert Romano Since August 2007 when the financial crisis began, the Federal Reserve has expanded its balance sheet by more than $3 trillion, including $1.35 trillion of U.S. treasuries and $1.43 trillion of mortgage-backed securities. It was “an unprecedented shopping spree,” says the former Fed official who headed up the program to buy the mortgage bonds in 2009, Andrew […]

10.25.2013 in Economy, Featured, Government Spending, Misguided Economics by Rick Manning 1

A time for debt vigilance

By Rick Manning Ten years ago, the national debt was an astounding 6.8 trillion dollars, fifteen years ago, it was 5.5 trillion and twenty years ago, it was 4.4 trillion.  After all the accounting tricks ended, the 2013 fiscal year ended with just over a 17 trillion dollar national debt.   Figure 1: National debt growth from 1993 – 2013, […]

Time to call Obama’s debt default bluff

By Robert Romano Is the White House bluffing about an imminent default on the $16.7 trillion national debt? Is the debt ceiling crisis just a made-up D.C. myth meant to frighten young children? Heretofore, the story coming out of the U.S. Treasury has been that if the government’s borrowing limit is not increased come Oct. 17, the U.S. will default […]

The deadbeat president

By Robert Romano “I say, imagine in your private life, if you decided that I’m not going to pay my mortgage for a month or two — first of all you’re not saving money by not paying your mortgage. You’re just a deadbeat.” That was Barack Obama describing the plight of delinquent mortgage borrowers, comparing them to members of Congress […]

Lost generation reaches 8.7 million

By Robert Romano A recent New York Federal Reserve study has found that 11.2 percent of 39 million borrowers with student loans are 90 days-plus delinquent on making payments on the nation’s $986 billion of student loan debt. A pretty depressing statistic. That’s more than 4.4 million Americans joining a lost generation of opportunity — and counting. But the truth […]

What recovery?

By Bill Wilson — It has been four years and two months since the “American Recovery and Reinvestment Act,” the so-called “stimulus,” was signed into law on Feb. 17, 2009. That day, Barack Obama told the American people he was keeping his campaign promise that he would “do all that I could to give every American the chance to make […]

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