I've been pondering this topic for weeks, trying to find the words to communicate the full impact of this realization to which we are all increasingly awakening.
Mr. Jeffrey Zients is the Deputy Director of the Office of Management and Budget (OMB) in Washington, D.C. He was recently allowed ten minutes to brief President Obama on the catastrophic rise in U.S. federal debt, which has grown by approximately $4 trillion under the Obama administration.
Political theater is so amusing these days that it deserves some comment.
While the stock market in the US continues to surge (if not so much in China where the composite is back to 2009 lows) as the relentless liquidity tsunami makes its way into stocks, and other Fed front running instruments, and only there, reality for everyone else refuses to wait.
Last week the mainstream media hailed QE3 as the “quick fix” that the U.S. economy desperately needs, but the truth is that the policies that the Federal Reserve is pursuing are going to be absolutely devastating for our senior citizens.
Latest move represents huge transfer of wealth from the middle class to the elite
The financial collapse of the Eurozone may be upon us. This Wednesday, September 12, the Federal Constitutional Court of Germany must decide whether it is legal for Germany to participate in the financial bailouts of other nations in the Eurozone.
Some people in Washington want to cut Social Security and veterans' benefits, by cutting the cost-of-living adjustment. But there's a better way to cut government debt than cutting Social Security and veterans' benefits: cut the bloated Pentagon budget.
Is the right wing of the world financial systems ready to break off, plunging the world economy to its death?
Mitt Romney likes to say he won't "apologize" for his success in business. But what he never says is "thank you" - to the American people - for the federal bailout of Bain & Company that made so much of his outsize wealth possible.