Economics

Jim Rogers: Short US Government Bonds ‘Right Now’

"With the Federal Reserve and now Bank of Japan printing massive amounts of money, billionaire investor Jim Rogers told CNBC's 'Closing Bell,' he is shorting U.S. government debt. 'It's all artificial what's going on right now,' Rogers said. 'The Federal Reserve is printing money as fast as they can. The Bank of Japan said 'we're going to print unlimited money.'' He called the Fed's monetary stimulus 'outrageous.' He also likes Russia for the first time in his career. Russia is changing but the market remains unloved. Rogers is buying the bonds, the currency and stocks." Continue reading →

Continue ReadingJim Rogers: Short US Government Bonds ‘Right Now’

Why S&P is in the Crosshairs of the Department of Justice

"It was S&P that took the heat in August of 2011, being first to actually cut the nation's rating to AA+. At the time the Obama administration lashed out at S&P, launching an unprecedented attack, specifically accusing the agency of 'misleading calculations.' Some now speculate that the Obama administration is merely getting revenge on S&P's downgrade by taking legal action against the rating agency. But it is also plausible that the Obama administration made a shrewd political calculation in taking this action. The Obama Justice Department's suit puts Moody's and Fitch on notice that they had better behave." Continue reading →

Continue ReadingWhy S&P is in the Crosshairs of the Department of Justice

Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued

"So far this calendar year, the Federal Reserve has bought up more U.S. government debt than the U.S. Treasury has issued. By the close of business on Wednesday, Feb. 6, according to the U.S. Treasury, the total federal debt had climbed to $16.4799 trillion—an increase of $47.2 billon for the calendar year. At the close of business on Jan. 2, the Federal Reserve had owned $1.661 trillion in U.S. Treasury securities. By the close of business on Feb. 6, it owned $1.7172 trillion—an increase of $51.1 billion for the calendar year." Continue reading →

Continue ReadingFed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued

Americans Collecting Disability Increased 1,385,418—Now 1 for Each 13 Full-Time Workers

"During President Barack Obama’s first term, the number of Americans collecting federal disability insurance increased by 1,385,418 to a record 8,827,795. As a result, there is now one person collecting disability in this county for every 13 people working full-time. Forty-two years ago, in December 1968, there were 51 people working full-time in this country for each person collecting disability. Back in January 2001, there was one person collecting disability for every 23 full-time workers; by December 2004 there was one person collecting disability for every 19 full-time workers; and by December 2008, there was one person collecting disability for every 16 full-time workers." Continue reading →

Continue ReadingAmericans Collecting Disability Increased 1,385,418—Now 1 for Each 13 Full-Time Workers

Texas Comptroller Susan Combs: Debt Excess Even Lives in Texas

"As the chief financial officer of the nation's second-largest state, even I have found it hard to get a handle on how much governments are spending, and how much debt they're taking on. Every level of government is piling up incredible bills. And they're coming due, whether we like it or not. Even in low-tax Texas, property taxes have risen three times faster than the inflation rate and four times faster than our population growth since 1992. Our local governments, meanwhile, more than doubled their debt load in the last decade, to more than $7,500 in debt for every man, woman and child in the state." Continue reading →

Continue ReadingTexas Comptroller Susan Combs: Debt Excess Even Lives in Texas

Texas Comptroller Susan Combs: Debt Excess Even Lives in Texas

"As the chief financial officer of the nation's second-largest state, even I have found it hard to get a handle on how much governments are spending, and how much debt they're taking on. Every level of government is piling up incredible bills. And they're coming due, whether we like it or not. Even in low-tax Texas, property taxes have risen three times faster than the inflation rate and four times faster than our population growth since 1992. Our local governments, meanwhile, more than doubled their debt load in the last decade, to more than $7,500 in debt for every man, woman and child in the state." Continue reading →

Continue ReadingTexas Comptroller Susan Combs: Debt Excess Even Lives in Texas

Rick Perry urges Californians to relocate to Texas

"In a new radio ad, the Republican governor urges California businesses to relocate to Texas to avoid high tax rates and regulations. The ad will air in Los Angeles, San Francisco, Sacramento, Inland Empire and San Diego. 'Building a business is tough, but I hear building a business in California is next to impossible,' Perry says in the ad. 'This is Texas Gov. Rick Perry, and I have a message for California businesses: come check out Texas. There are plenty of reasons Texas has been named the best state for doing business for eight years running.'" Continue reading →

Continue ReadingRick Perry urges Californians to relocate to Texas

Rick Perry urges Californians to relocate to Texas

"In a new radio ad, the Republican governor urges California businesses to relocate to Texas to avoid high tax rates and regulations. The ad will air in Los Angeles, San Francisco, Sacramento, Inland Empire and San Diego. 'Building a business is tough, but I hear building a business in California is next to impossible,' Perry says in the ad. 'This is Texas Gov. Rick Perry, and I have a message for California businesses: come check out Texas. There are plenty of reasons Texas has been named the best state for doing business for eight years running.'" Continue reading →

Continue ReadingRick Perry urges Californians to relocate to Texas

Commodities: High metal prices can put lives in danger

"High prices for scrap metal has resulted in more than cultural vandalism such as the theft of a £500,000 Barbara Hepworth statute from Dulwich Park – it is putting innocent people's lives in danger. Last month, 80 operations, including eight for people with cancer, were cancelled at Llandough Hospital in Wales after 100m of cabling was stolen from a generator. Eight people have been killed trying to steal copper from electricity substations in the last year alone. The fact that there is a significant cash element makes metal theft an easy option for criminals – and it robs the Treasury of significant revenues." Continue reading →

Continue ReadingCommodities: High metal prices can put lives in danger

Banksters in Control: Dodd-Frank Helps JPMorgan Chase

"When President Barack Obama signed the Dodd-Frank financial reform bill into law three years ago, he promised it would encourage healthy change and competition. 'This reform will help foster innovation, not hamper it. It is designed to make sure that everybody follows the same set of rules, so that firms compete on price and quality, not on tricks and not on traps,' Obama said. How is that working out? It turns out that in the view of the head of one of the biggest banks in the United States, Dodd-Frank is helping the big banks by making the cost of regulatory compliance so high that smaller rivals cannot compete." Continue reading →

Continue ReadingBanksters in Control: Dodd-Frank Helps JPMorgan Chase