Once again, politicians are taking our US SPENDING and BORROWING problem right to the wire. Everyone knows that eventually politicians will just raise the debt ceiling and borrow more. The Republicans want spending cuts and the Democrats want a “clean increase” so as to be able to pay promised liabilities (previous spending) and we all […]
In the Midwest we’re still sweating from the 90+ degree heat (12 days in a row for Cincinnati), although I’m getting use to it. We’re also sweating the debt ceiling and cost cutting measures being proposed in Washington DC by politicians. Like most of America, I watch the haggling and posturing between the extremes on […]
While Americans wait and watch politicians haggling in Washington DC, the stock markets seems to be banking on a deal. Mid day on Thursday, the NYTimes mid-day reported that President Obama and Speaker of the House John Boehner were close to a deal … only to have Whitehouse spokesman Jay Carney quickly say that there […]
At age 85, former Federal Reserve Chairman Alan Greenspan talked candidly with the CNBC hosts this morning about the looming “debt ceiling” debate and more importantly our country’s lack of unity in addressing our deficit spending. Interestingly he is currently supporting some increases in taxes as a compromise realizing that in a divided government one […]
As the financial markets in the US trade down this morning on lousy economic recovery news (little growth – 1.3% annual rate) and no compromise in Washington DC on the debt ceiling … I’m wondering why politicians can’t find a solution with a country as strong as ours. The far right can’t come together for […]
Don’t look at your IRAs or 401K plans today — actually don’t look at them until the powers that be in Washington DC can figure out how to rein in our “Governement Gone Wild.” (I’ve already given up on Europe) Stocks fell as the combination of anxieties about debt in the bloc of euro-using nations […]
After an enjoyable polictical conversation with a client this week in Akron, I'm unsure where to come down on the long political practice of gerrymandering verses risking changing it. On the surface, there must be a better way, but with change can come an unbalanced and equally questionable re-alignment. Here is an article forwarded from […]
In my pile of books, I’m reading one co-authored by Robert Wiedemer called “Aftershock Investor” and he is anticipating, after he accurately pinpointed the housing bubble, that we are nearing two additional bubbles. First, he highlights the dollar bubble as the Fed’s “quantitative easing” continues … followed by the government debt bubble as at the […]
Once again our dysfunctional federal government reared its ugly head and made many of us wonder why we continue to send money to Washington DC? The taxpayer continues to be squeezed by our bloated bureaucrats who can’t seem live on the nearly trillion dollars we send them each year — it’s ridiculous! From my […]
Well the “fiscal cliff” has been averted for the time being … a sort of a “kick the can down the road” decision was made in Washington DC … to use two of the banished terms for 2013 (link). The deal with hardly dealt with spending, the deficit or the looming under-funded entitlements which are […]
Panic … it is going to be the big issue for financial markets come Monday morning. It won’t be pretty. Is there really a difference between where we were last week (after the debt ceiling increase) and where we will be on Monday morning? No, not really, but unfortunately Standard and Poor’s downgrade (PDF) of […]
After the agonizing debates in order to come to a half solution to control our deficit, debt and raising the President’s ability to borrow these past several weeks, the debt ceiling agreement did little to help the world’s financial markets – Europe’s banking problem does little to help. Today Wall Street returned the largest lost […]
NEW YORK (CNNMoney) — Economists say the debt ceiling debate has already damaged the U.S. economy, and many worry that a deadlock could send the country hurtling into a double-dip recession. LINK Although the US Senate voted to pass the debt ceiling legislation and President Obama quickly signed it, the worries on Wall Street harkened […]
As I watch the talking heads on CNBC blabber back and forth, their premarket guest politicians covered their bases for the “lite” deal which in reality kicks the can down the road. It is expected that there will be enough votes to pass the small bill … enough to keep the government functioning and bills […]
As Washington DC politicians debate how to deal with the U.S. debt ceiling and rapidly climbing debt, investors are faced with the growing possibility of default or at minimum a very real likelihood that we’ll see our nation’s credit standing slip. Individuals, companies and the government seeking to borrow money will see interest rates increase […]
You know the frustration is building when those from President Obama’s own party are “losing their cool” over the administration’s tight lipped approach to what is being presented from the left. Republican’s have long complained that the President’s lack of leadership and a plan is making it difficult to debate the debt ceiling and budget […]
Far be it from me to defend the “corporate jet” crowd, but am I the only one who wonders what numbers President Obama is talking about when they advocate that wealthy in America “pay their fair share.” I’ve looked at most of the numbers and no matter how you slice the pie, those earning over […]
It’s called the third rail of politics, and in those areas of spending where politicians with the best of intentions dare to talk, nothing gets done. Only a few have suggested finding a solution to our ballooning debt and yearly deficits … or two of the primary drivers: Social Security and Medicare. These programs continue […]