Deficits vs. Stock Market Rally
H. Ross Perot used to talk about a “giant sucking sound” in the economy more than a decade ago. Back then, he talked about the North American Free Trade Agreement (NAFTA)...
Economics
Shock & Awe Economics
With the passage of the $787 billion Obama-Democratic Congress stimulus bill, the die has been cast for America's economic future. This, the largest appropriations bill ever passed by Congress, is being...
Newsweek: “We Are All Socialists Now.”
Newsweek magazine published the following headline on the cover of its February 16 issue: “We Are All Socialists Now: The Perils and Promise of the New Era of Big Government.” Of...
T-Bills Gone Wild: A Crash in Progress?
The credit rating of the U.S. government is falling fast. Treasury debt mechanisms have crashed in bond markets this year, forcing Treasury officials to offer a spiral of steeper discounts at...
This Year: $2 Trillion Budget Deficit?
“Easily in fiscal year 2009 it’s not out of the realm of possibility to have a $2 trillion deficit,” Mary Ann Hurley, vice president of fixed-income trading in Seattle at D.A....
Obama: Capitalist “Risk-Taking” Created Recession
President Barack Obama blamed the current economic recession on “a binge of risk taking” by bankers in a Today Show interview that aired February 2. Specifically, here’s how Obama explained how...
Obama Budget Needs Trimming With an Axe
Barack Obama appointed Nancy Killefer as his "chief performance officer." It will be her job to find government waste to cut. Obama hopes to cut much of an expected $1.2 trillion...
Socialism’s Success
Socialism, once abhorrent to most Americans, is increasingly being embraced by them. But is more socialism likely to reinvigorate the U.S. economy and help Americans? ...
A Crisis of Dollars and Sense
The "dollar" bills that we routinely exchange for goods and services are not genuine constitutional dollars, but promissory notes substituting for the real thing. ...
In a Free Market, Money Doesn’t Grow on Trees
Supporters of big government have been blaming the current economic crisis on the free market. We shoot down five of their anti-free-market fallacies and show where the fault really lies. ...
Government Will Bail Out Homeowners
First Wall Street bankers. Then government lending agencies known as Fannie and Freddie. Next in line for federal handouts was the international insurance company A.I.G. It begins to look as though...
Voter Outrage Against Mortgage Bailout
Anger is on the rise all across the country concerning the proposed government bailout of the mortgage industry. The $700 billion dollar price tag, at a time when Americans are already...
Henry Paulson to Become Overseer of U.S. Economy?
Treasury Secretary Henry Paulson is on the verge of becoming the most influential man to hold that post since Alexander Hamilton, and the most powerful Secretary of the Treasury in U.S....
McCain Calls for New Federal Agency
Speaking in Green Bay, Wisconsin, on September 19, Republican presidential candidate John McCain said he would create a new federal agency, called the Mortgage and Financial Institutions Trust (MFI), that would...
Some Dare Call It a Recession
Adding to the woes of Americans reeling from the fallout stemming from the national housing and mortgage crises, recent Wall Street events such as the bankruptcy of Lehman Brothers, the sale...