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...
Economics
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...
Read moreObama: 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...
Read moreObama 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...
Read moreSocialism’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...
Read moreA 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...
Read moreIn 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...
Read moreGovernment 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...
Read moreVoter 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...
Read moreHenry 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...
Read moreMcCain 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...
Read moreSome 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...
Read moreIndyMac Bank’s Ominous Failure
As of Tuesday, July 15, crowds outside branches of the failed California bank IndyMac were getting ugly. On the second business day after...
Read morePaulson-Bernanke Plan Would Give the Fed Broad New Powers
On Thursday, July 10, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke testified before the U.S. House of Representatives’ Committee on...
Read moreDangers of an Underreported CPI
The Consumer Price Index (CPI) measures the average price of consumer goods and services purchased by households. The government uses the CPI to...
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