Obama Wants Consumer Financial Protection Agency
The Obama administration on June 30 unveiled its latest attempt to put an end to the free market in financial services in the United States. ...
Economic Commentary
Whither the Dollar?
As the fallout from the global financial crisis continues, the burning question in international financial circles is whether the U. S. dollar, the world’s reserve currency since the Second World War,...
Federal Reserve Hiring Lobbyist for Political War
The Federal Reserve caused the current economic crisis by suppressing interest rates and creating the housing bubble, Texas Congressman Ron Paul, Euro Pacific Capital president Peter Schiff, and others have charged....
Interest Cost of New Federal Debt Skyrockets
The Obama administration’s efforts to borrow the U.S. economy into prosperity are meeting more and more skepticism on Wall Street as investors in the bond market are fleeing the U.S. debt...
Obama’s IMF Sneak Attack
A hundred and eight billion dollars — $108,000,000,000. Not exactly an eye-popping sum anymore, in an era of multi-trillion-dollar annual budgets and multi-trillion-dollar annual deficits. Still, even with government spending streaking...
Credit Card Meltdown Hits Banks
Next up for ailing mega-banks: a credit card meltdown. No surprise here, really; Americans have overused credit cards for years, trusting always in unending economic expansion and plentiful employment to guarantee...
Social Security, Medicare Running Out of Money Faster Than Expected
Social Security and Medicare, Big Government’s two most cherished social-welfare programs, are running out of money far faster than expected, thanks to the persistent economic downturn. Medicare, which is already running...
Another Record-breaking Deficit Looms
It’s official: this year’s budget deficit will be one for the record books. The latest figures released by the Obama Administration contemplate a $1.8 trillion deficit for fiscal 2009 as the...
Cancerous Growth of Government
While every other major component of the economy is shrinking, government at all levels has grown to consume nearly half of America’s gross domestic product. ...
“Prosperity Is Just Around the Corner.” Really?
Back in the bad old days of the Great Depression, the breezy assurance of the Hoover Administration that “prosperity is just around the corner” became, as the years of depression dragged...
Pyramid Schemes Put in Perspective
The real rub of the Ivar Kreuger and Bernie Madoff sagas is that both men were caught doing precisely what governments do as a matter of course through central banking. ...
America’s GDP, Economy Shrink – Again
Despite rosy earnings reports from some closely watched corporations, the Great Recession is far from over, according to the latest economic data from the Commerce Department. America’s GDP, which shrank at...
Did Bernanke and Paulson Commit Bank Fraud?
New revelations from the New York State Attorney General’s office have all but proven that Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Hank Paulson committed bank fraud crimes in...
Foreign Aid: Give ’Til It Hurts, Repeat
Item: The Washington Post for March 31 reported: “The billions of dollars spent in U.S. aid to Afghanistan over the past seven years have been largely wasted, Secretary of State Hillary...
The High Cost of Cap and Trade
Cap-and-trade programs to control carbon-dioxide emissions are an unacceptably costly way to deal with the supposed problem of man-made global warming. ...