The SEC has once again treated Wall Street miscreants with kid gloves, slapping two ex-Bear Stearns hedge fund managers with penalties that your grandmother could pay off.
Foreclosures are a mess in the US. From homeowners abandoning their houses to robo-signing to unresolved class suits, the US housing market is mired in a swamp of debt and doubt. But, you know what? It’s worth it. Foreclosures are actually saving America from Europe’s fate of monstrous and increasing debt. You
Since the early 2000’s, the popular wisdom has been that the U.S. dollar is a lost cause, sinking in value until it became one of the world’s least respected currencies. I had bought into that idea for several years. But in late 2007 I started suspecting that things had changed. So I
The word from Fitch isn’t good. On its current path the US will face interest payments that will eat up over 20% of its tax revenue. “Such a level of government indebtedness would no longer be consistent with the U.S. retaining its AAA status despite its underlying strengths,” Fitch said. Okay, I
How dangerous is our $14 trillion debt to the financial and national security of our country? Impossible to answer unless you know who owns our debt.
Andrew Gordon explains why the so-called supercommittee couldn’t have picked a worse time to come up empty.
Central banks are buying gold at a record pace, says the World Gold Council. So far this year central governments – led by China, India, Brazil, and Russia – have bought a net amount of 350 metric tons, easily beating last year’s net purchases of 76 tonnes and 180 tonnes in 1988.
Nine days and counting…that’s how long this so-called “super committee” has to find at least $1.2 trillion in budgetary savings.
