Tag Archives: National Debt

The fiscal cliff: what all the fuss is about

What is the definition of fiscal?  Webster’s dictionary says fiscal means “of or pertaining to the public treasury or revenues.”  When the President talks about fiscal policy, the President is talking about how the federal government will spend tax revenue. So, what is the fiscal cliff?  Based on current federal government policy, laws will go […]

Why A “No Cost Mortgage” Still Costs

“There’s no such thing as a free lunch.” Such words have never been more relevant to consumers being pitched to take out a no cost loan. No cost mortgage mortgages have been around since the mid-90s and offer consumers the ability to pay no closing fees. The general closing costs, you’d otherwise pay in procuring […]

CURRENT WORLD RECESSION: THE BIG PICTURE

This week I attended a webinar sponsored by a major investment firm.  One of the company’s chief advisors, with 33 years of experience, gave his thoughts on where the world economy is right now and what might happen in 2012. I am certainly not an economist.  And not all economists are in agreement as to […]

First, Let's Lower the Bar

The simple reality is that if We the People of the US want Medicare, in even a reformed and more efficient manner, we must find a way to pay for it. It will not be cheap. Raising income taxes on the “rich” is not enough. You have to go back and raise income taxes on the middle class, too. Oh, wait, that will be a drag on the economy and consumer spending. And in any event it will not be enough.

DEPRESSION WITHIN A DEPRESSION

Today’s Keynesian economists have convinced boobus Americanus that the Great Depression was caused by the Federal Reserve being too tight with monetary policy and the Hoover administration not providing enough fiscal stimulus. Ben Bernanke and Barack Obama used this line of reasoning to ram through an $850 billion pork-laden stimulus package, as well as the purchase of $1.2 trillion of toxic mortgages by the Federal Reserve.

The only trouble is that this storyline is a complete sham.

The Last Half

The desire of every country is to somehow grow its way out of the current mess. And indeed that is the time-honored way for a country to heal itself. But let’s look at yet another equation to show why that might not be possible this time. It is yet another case of people wanting to believe six impossible things before breakfast.