Blog Archives

The Politics of Covetousness

debt

It is widely known that Americans are spending themselves into debt slavery. For example, Bloomberg business reported last September that consumer debt was at an all time high of $3.2 trillion with credit cards and auto loans leading the pack.

Posted in Christianity, Debt, Economy, Ethics Tagged with: , ,

Republicans Working on Deal to Increase the Deficit

medicare_02

Republicans are ready to join Democrats and increase Medicare repayments in a way that will increase the deficit $130 billion in a decade. Is there some political manual somewhere that explains to elected officials that, if they are going to

Posted in Congress, Debt, Healthcare, Spending Tagged with:

Our Fiscal Gap Is Large Enough to Swallow Us

money vortex

We have been warned yet again about the fiscal gap that is widening every second as this country continues to borrow and promise. You’ve been reading about the financial crisis in Greece. Get it clear: the United States is very

Posted in Debt, Economy, Spending Tagged with: ,

Greece Will Never Repay Money but Germans Won’t Admit It

Crashing Europe Graphic

It is simply a fact that Greece will never repay its debts because it cannot do so. But the Germans are angry at anyone who tells the truth. Such a great laugh—the game is up! From ZeroHedge.com: “Germans Furious After

Posted in Debt, Economy Tagged with: , , , ,

Why Is Student Debt Exempt from Bankruptcy?

student loan bubble

Megan McArdle suggests that allowing student debt to be discharged in bankruptcy along with all other debt would be a good idea if done right. I realize there are arguments that we should not even allow bankruptcy. It seems to

Posted in Debt, Education Tagged with: , ,

Will Republicans Raise the Debt Ceiling without a Fight?

white flag

Watching Republicans raise the debt ceiling feels like watching them wave a white flag. Is the Republican Establishment’s actual strategy to act like such weak fools that the base will all surrender to the Liberal regime because of the humiliation?

Posted in Debt, Politics Tagged with: , ,

Chicago Finances Are at the Brink

Debt Hits the Fan

Because of a Moody’s downgrade, Chicago finances may be about to get dramatically worse. Our ruling class act like they know what they are doing. They may even be deluded enough to believe their own deceptions. But the truth is

Posted in Corruption, Debt Tagged with: , ,

A Third of Americans Have No Savings for Emergencies

Broken piggy bank

Far too many of us have no savings, or inadequate savings, for a financial crisis. Our political and economic leaders have encouraged a culture of spending, as if that was the key to economic growth. They have encouraged consumer debt

Posted in Debt, Economy Tagged with: ,

Greek People Expect Greek Government to Represent Them

Austerity Ahead

What happens when the Greek government sets policy according to the dictates of foreign creditors, not the wishes of Greek voters? The new left-wing government now has power in Greece for one reason only: they promised to end austerity. The

Posted in Debt, Economy, Foreign Policy, Spending Tagged with: , , ,

Greece and the Euro about to Erupt

eu greece

The new government in Greece is staring down the European Union over the money they owe. What happens when a debtor can’t pay and owns no assets that would cover the debt? Typically, the debtor should go bankrupt. That can

Posted in Debt, Economy Tagged with: , ,

World Debt Levels Higher than They Were at 2007 Crisis

cash vortex federal employees

Debt levels have mounted up to amounts that exceed what they were when the financial crash of 2007 took place. I have warned readers before that governments are binging on debt. And I have posted about how those debt-ratios threaten the

Posted in Debt, Economy Tagged with:

There Are No Spending Cuts in Barack Obama’s Budget

fiscal cliff_02

Barack Obama’s budget is being described as lowering the deficit through spending cuts. All lies. As the budget gets unveiled, we need to remember that stupid “victory lap” that Secretary of the Treasury Jack Lew took back in October, claiming

Posted in Debt, Government Control, Media, Spending Tagged with: , ,