In case any of you have just returned from a two-week vacation on another planet, there are very serious economic troubles in Greece that have already begun to threaten other larger EU nations. The European monetary system is very interwoven. Major banks in various EU nations are holding debt from many other major banks and [...]
What does $100 million in budget cuts really look like? It isn't even worth an entire penny!
If you answered: "WE ARE!", you're absolutely correct! Here's the latest and greatest on the bankers' rape of the U.S. taxpayer. Many of you are following the "Greek Tragedy" that is, well, Greece. The Greek state joined the European Union a few years ago, under false pretenses. You see, there are sovereign debt limits imposed [...]
A recent article by Charles Schwab merits our attention: http://online.wsj.com/article/SB10001424052702303429804575149633264117248.html In February 2006, when Ben Bernanke was first sworn in as chairman of the Federal Reserve, the federal-funds target rate stood at 4.5%. That same year, the average yield on a one-year certificate of deposit was 5.4%. A retiree who diligently saved for a lifetime [...]
It's time to face facts: the national government is broke. The following chart is from the website of the Federal Reserve. It shows federal expenditures (blue) compared to federal tax receipts (red). The difference between the two is, of course, the federal deficit, which has ballooned to truly historic proportions. Clearly, the path we're on [...]
Watch this great parody of Charlie the Unicorn. See weird, bizarre and surreal.
This article was in the New York Times By DAVID JOLLY and CATHERINE RAMPELL The gold-plated credit rating of the United States — an article of faith across America and, indeed, around the world — may be at risk in coming years as the nation copes with its growing debts. That sobering assessment, issued Monday [...]
Watch what VA’s own Congressman Tom Perriello just said about Washington’s approach to managing your money: “If you don’t tie our hands, we will keep stealing.” Wow. He’s openly admitting what we all know, that Congress doesn’t care what they’re doing is wrong, they will simply spend, spend, SPEND as much as they want… Until [...]
Yesterday in the Washington Times there was an article about how the Chinese see the U.S. debt as a weapon. It was quite the formidable threat. Gen. Luo warned that China could attack the U.S. "by oblique means and stealthy feints," and he called for retaliation for the arms sale. "For example, we could sanction [...]