CBO Issues Dire Forecast for US Debt
The US Congressional Budget Office is warning that the federal deficit has hit a point of no return. It is far too late to cut wasteful government spending. Politicians have [...]
Fed Rates & Minutes
Minutes from the Fed’s May policy meeting showed board members thought that if jobs growth remains healthy with a rebound in investment and consumer spending then rates could rise “soon”, which many took to mean June. The economy has shown some signs of weakness, the Fed still thinks its broad strength would justify winding down its balance sheet, essentially sucking cash out of the system and putting upward pressure on borrowing costs. As long as rates rise, it shows the economy is still holding.
The Fed is more concerned about the stock market. A correction would help ease the upward pressure, but the Fed also realizes that it has to get rates back up because of the looming crisis in State *& Local pension funds.
Keep in mind that as rates rise, so will the problems with fiscal budgets both on the Federal and States levels within the United States and externally it will hurt emerging markets and Europe.
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The US Department of Health and Human Services (HHS) announced plans to cut its workforce by a quarter, eliminating 10,000 positions. Robert F. Kennedy Jr. has vowed to gut the [...]
The Danger of Traveling with Gold
Two men were pulled over while driving on I-20 in Texas, carrying $250,000 worth of gold bars. US law permits and encourages law enforcement to confiscate assets. Civil asset forfeiture [...]
The Tyranny of Centralized Government
For centuries, the main reason no government has ever survived its own greed for money and power is that whoever is in power at present constantly assumes that this time [...]
