Author Archive

More Treachery at the Fed?

The recovery has stalled and the Fed can’t decide whether we’ve just hit a “soft patch” or if it’s something more serious. If it is more serious, then the Fed will need a contingency plan for kick-starting the economy. So, what’s it going to be; another round of Quantitative Easing (QE), rate caps on...
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Greece in Meltdown

Stocks dropped on Monday as Europe’s sovereign-debt crisis deepened and bond yields across the EU periphery headed sharply higher. The euro fell hard against the dollar ($1.40) while the Greek 10-year bond spiked to 17 per cent before mounting a modest comeback. The situation is getting desperate.  Most economists now believe that Greece will...
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Inside the GOP’s “Security Act”

House Armed Services Committee Chairman Howard “Buck” McKeon (R-CA) is pushing a bill through congress that will repeal due process and give the President nearly-unlimited powers to wage war wherever and whenever he chooses without congressional approval. Because the language in the so-called Detainee Security Act of 2011 is (intentionally?) vague, it’s impossible to...
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What If the U. S. Looks Like Defaulting?

On Monday, the US government hit the statutory limit on the amount of money it can borrow, ($14.29 trillion) the so-called “debt ceiling”. That means that Treasury Secretary Timothy Geithner has started to implement an emergency plan to keep the government running and pay bondholders while the White House and Congress hammer out the...
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Economy Hanging by a Thread (Time to Party Like It’s 1929)

A bleak jobs report sent stocks and commodities tumbling early this month, while new signs of distress gripped the service industries index. An updated report from the ADP showed that private sector hiring slowed more than expected from March to April as companies struggled to meet rising raw material costs and flagging consumer demand. The...
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