Tag: debt

2016 Election, Economy

If Donald Trump Scares You, You Should See a Depression

Guest post by Lee Presser. America’s fiscal year is October 1 to September 30.  With two month left in FY16, the U.S. Treasury has already paid creditors $380,925,428,211.67 in interest costs.  (That’s $381 Billion)  http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm The average interest rate was just over 2%.  http://www.treasurydirect.gov/govt/rates/pd/avg/2016/2016_07.htm  It is expected that the last two month’s of this fiscal …

Greece #grexit #tsipras #merkel

Chili Palmer

The greatest mob movie of all time was Get Shorty. (Please, don’t argue.) The whole movie revolved around this exchange: Ronnie Wingate: Excuse me bro’, but who the fuck are you? Chili Palmer: I’m the one tellin’ you how it is… Last Sunday, Greece was Chili Palmer. A few days later, Angela Merkel is.   …

Activism, Economics and Economy

You’ll Never Guess Who’s About to Become Obama’s Biggest Nightmare

In 2008, we heard all about the youth movement for Obama.  We heard that the enormous Millennial Generation, born between 1982 and 2001, would destroy the GOP and everything America once stood for–like jobs, family, faith, and hard work.  And when Obama won, many believed the tales of the Obama Youth. But many were wrong. …

Economics and Economy, Latest

NYT Describes Mayhem of “Taxmageddon”, And It Will Scare You Sick

Financial Armageddon

What the hell’s going on at NYT? First, they do a piece on Andrew Breitbart. Then they warn the world that Taxmageddon will crush the world in 2013, beginning with the USA. Here’s how Business Insider summarized the David Leohardt article: Basically, with no changes to current law, taxes will rise for everyone, and after …

Economics and Economy

This David Stockman Quote Should Scare the Hell Out of Everyone

Is the US economy about to collapse worse the Greece’s?  Some, like Paul Krugman, say that it’s okay for governments to print unlimited money.  Others, who have actually managed businesses, say otherwise. David Stockman is among the latter.  He was Reagan’s budget director for a few years.  He became a media sensation because of his …

Latest

What Scrooge Teaches Millennials

This is the fourth in a series. If you haven’t, please read part 1, part 2, and part 3.  Because so many school systems have driven great English literature out of students’ hands and minds, it’s possible that some kids never read Charles Dickens’s A Christmas Carol.  If you’ve never read this classic, please do …

Economics and Economy

At Last, Obama’s Ready to Borrow More Money from China

The headline on July 15 was knee-slapping funny: Obama says he’s “ready to move” on debt ceiling. Really?  The man who dug a deeper debt hole in two years than anyone else did in 8—or 15—is willing to borrow more? Say it ain’t so. For those who believe Obama’s some sort of deficit hawk, let’s …

Economics and Economy

What’s Your FICA Score?

Your FICO score is a number between 380 and 820 (or something like that) that banks use to determine your credit worthiness.  The higher your FICO score, the better. But that’s not what I’m talking about here. I’m talking about your FICA score. Your FICA score is the minimum payment on your federal loan. You …

Economics and Economy

Money Problems? Borrow Your Kids’ Social Security Numbers

Why not? Kids have a clean slate when it comes to credit scores.  Sure, they don’t have a long history, but you can help with that.  And you can buy that 56-inch 3D LED TV you’ve been craving.  In a few months, you might even be able to buy a new car—on your kid’s credit. …