Category Archives: Government Debt
Congressional Super Committee Farce
Shortly after the opening bell on Wednesday, the price of oil topped $100 per barrel…a 26 percent increase in less than two months. What gives? The Associated Press tells us it was the Labor Department’s Wednesday report, that consumer prices … Continue reading
The Euro is Done
The November issue of National Geographic tells of the recent discovery of the Staffordshire Hoard – a treasure of gold, silver, and garnet military objects from the early Anglo-Saxon era that had been buried in the English countryside for 1300 … Continue reading
Life After the Day of Reckoning
The 2011 fiscal year ended on September 30th and the beans of U.S. Government revenue and spending have been counted up. Total revenue for the year was $2.3 trillion. Total spending for the year was $3.6 trillion. The difference – … Continue reading
Magnifying a Magnificent Debt Bubble
Last week it was discovered that, Kweku Adoboli, a 31-year-old equities trader for the Swiss bank UBS, had gone rogue. In a remarkable misadventure he managed to blow $2 billion of other people’s money at his employer’s expense. Apparently, UBS … Continue reading
