Record Budget Deficits, Pensions Coming Due
I’ve read my fair share of history. I know that people have been calling for the collapse of our debt structure for a long time yet nothing has happened. The belief that the U.S. can claw its way out...
Sovereign Debt: a Threat to the Entire Financial System
We like to ask cab drivers about the economy. Not that they understand anything any better than the average central bank economist. But they talk to people. Without cameras or tape recorders in the background. And they have their...
Visualizing The Government’s Massive Budget Deficit Forecasting Error
That government projections are not worth the price of the paper (especially not in today’s dis-disinflationary environment) they are printed on is no secret. As Zero Hedge recently demonstrated the margin of error in the most recent budgetary prediction...
CBO’s Revised Budget Sees 2011 Deficit Rising By $500 Billion To $1.5 Trillion
No surprise: the projected deficit just went up by another half a trillion: “For 2011, the Congressional Budget Office (CBO) projects that if current laws remain unchanged, the federal budget will show a deficit of close to $1.5 trillion,...
Fitch Finds US Worst Of The AAA-Rated Best, Sees QE2 As Stoking Inflation Expectations
Since by now it is all too clear that none of the rating agencies will dare to downgrade the US until well after its creditors realize they have all been taken for the proverbial ride, and even longer after...
How to Get Trapped by Sovereign Debt
It’s a new decade. Time for a new thought. A new idea. A new theme.
The One Reason you Have to Own Gold & Silver
Analysts and pundits provide various reasons for the bull market in Gold. This includes emerging market demand, low interest rates, money printing, central bank accumulation, central bank policies and falling gold production. These are all good reason but there...
Global Sovereign Debt Default Bankruptcy Bailout and Contagion Risk Analysis
This analysis seeks to update the global sovereign risk of bankruptcy following the developments of the past 9 months that have seen governments and economic policies change, economic austerity plans implemented or failure to implement, as well as the...
Ireland Bailout Consequences for Britain, Portugal Next? Stock Market Correction Over?
Ireland’s Government drops the mantra of no bailout by finally coming clean to the Irish public that a multi-billion Euro bailout has been agreed ahead of markets opening on Monday. Many Irish citizens will be angry that they have...
PIIGS Return to the Slaughter
The dollar continued to get beat down through most of the trading day but started to rally back a bit in the afternoon......
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