Is Congress planning to charge you mortgage insurance even if you put 20 percent down?

By Robert Romano Senate Democrats and Republicans on the Senate Banking Committee have agreed in principle on a plan to unwind the nearly $5 trillion Government Sponsored Enterprises (GSEs) and to, they say, “create a mortgage insurance fund for the system to protect taxpayers against future bailouts.” Under the proposal, S. 1217, supported by the Obama administration, lending institutions will […]

Now is the time to tackle sugar subsidies, pass Zero to Zero plan

By Rick Manning The 2014 Farm Bill has finally been put to bed.  One of the most contentious pieces of legislation that faces Congress every five years, the headline from this latest round in the fight against agriculture subsidies is more of the same. Millions of dollars were spent in lobbying and public relations, and at the end of the […]

500k lost jobs are the left’s collateral damage/political advantage on minimum wage

By Rick Manning As originally published at TheHill.com. If President Obama has his way on increasing the nation’s minimum wage, 500,000 Americans will see their wages cut to zero, their jobs eliminated by this feel-good government mandate, according to the Congressional Budget Office. That’s just another half million people’s hopes and dreams sacrificed as collateral damage to the ill-founded belief […]

Retirees not the ones to worry about, it is young people

By Robert Romano The precipitous drop in the nation’s labor participation rate has fueled a debate amongst economic prognosticators about what it means for America’s economy.  Some, like the Philadelphia Federal Reserve’s Shigeru Fujita, say the rate is declining naturally due to our nation’s population aging and Baby Boomers hitting retirement age. Others, like this author, have pointed to the […]

Does manufacturing cars require credit?

By Robert Romano “People may not realize that the creation and marketing of automobiles requires a financial system.” That was Manhattan Institute’s Diana Furchtgott-Roth writing for RealClearMarkets.com, responding to a piece from the New York Times’ Paul Krugman, “Paranoia of the Plutocrats.” In his piece, Krugman criticizes the current credit-driven financial system: “We’re not talking captains of industry here, men […]

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 […]

Is this any way to treat the job creators?

By Marita Noon It’s no wonder that, as the New York Times (NYT) headline declared: “Growth in jobs slows sharply to 3-year low.” Addressing the Labor Department’s disappointing December Jobs Report, CNN Money’s headline states: “2013 ends with weakest job growth in years.” USA Today called it a “Big miss” and CNBC’s Jim Cramer sees the 74,000 gain in payrolls […]

Maybe the rent is too damn high

By Robert Romano Which is a bigger problem for the poor: Low incomes or the high cost of living? According to New York Times columnist and economist Paul Krugman, it’s low income. In a January 19 piece, “The undeserving rich,” Krugman writes, “for the past three decades and more the main obstacle facing the poor has been the lack of […]

Obama’s income inequality problem

By Robert Romano (Correction: A previous version of this article cited an Obama speech on Jan. 7 being on CEO pay. It was actually on the proposed unemployment benefits extension.) So long as there is money, there will be an economy composed of relatively free individuals making individual decisions about how to spend their money. As a result of this […]

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 […]

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