Blog Archives

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: , ,

Barack Obama Lobbies for More Economic Damage

wasting taxpayer money

The President demands that we charge into more debt, as if that won’t produce more economic damage. I distinctly remember, when Barack Obama was campaigning for porkulous, that he said over and over we must spend more money in order

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

The Humiliating Public Loss of Barack Obama

crash and burn cash

Taking back his “free” community college scheme was a public loss for President Obama. A couple of days ago I asked if the President was happy that he no longer had to worry about the Democrat majority in the Senate.

Posted in Debt, Email Featured, Liberalism, Politics, Spending, War, Welfare Tagged with: , , , ,

The National Debt Bubble is About to Inflate

Obama-money

Our politicians are about to put the national debt bubble expansion into overdrive. Lately we keep hearing about how great the economy is under the Obama Administration because the deficit is smaller. A smaller deficit is still an expanding national

Posted in Debt, Spending, Taxes Tagged with: ,

New Jersey: Pension Promises are Meaningless, Unenforceable

money swirl

If you are relying on pension promises for your retirement, maybe you need to reconsider. No matter what is promised and no matter what the law says, if the money does not exist, you will not be paid. I am

Posted in Debt, Economy, Spending, Taxes, Unions Tagged with: ,

Bubbles End; Eventually the Can Explodes

kick the can

No matter what politicians promise, bubbles end at some point. Kick the can… kick the can… kick the can… It’s a game Western politicians and Central Bankers play with incredible skill. Unfortunately, economic reality can be delayed, but not completely

Posted in Banks, Debt, Federal Reserve, Government Control, Spending Tagged with: , ,

Economic Pain Is Coming but Debt Should Be Repudiated!

federal debt graphic

We can’t prevent economic pain but we can refuse to let it continue. As horrendous as the information from the Heritage Foundation is, it’s merely the tip of the fiscal iceberg. There are vast amounts of committed additional future spending

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