Recovery? WHAT Recovery?!

(Data sources are US CBO and Federal Reserve) The chart above (click, then click again to enlarge) shows three data sets: 1) in red, the federal budget deficit; 2) in dark blue, US Gross Domestic Product (GDP), the supposed size of the US economy; 3) in highlighted light blue, shows what US GDP would be [...]

By |2010-06-10T20:47:16-04:00June 10th, 2010|Federal Reserve, Uncategorized|0 Comments

You Are Bailing Out Europe

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 [...]

By |2010-05-10T22:10:21-04:00May 11th, 2010|Uncategorized|1 Comment

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