and Republicans are seemingly going to give him what he wants. Both the budget and the debt limit are coming up and Mr. Obama says there is no negotiation. No longer will there be any discussion on the debt limit (indeed, he does not believe we should have one), since we have to “pay our […]
Archives
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Mr. Obama wants a budget fight
24 Sep 2013
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Obamacare will continue to gain attention for the foreseeable future, but today’s news give two opposing and irreconcilable views. Mr Obama was asked if American’s were wrong about his health care bill (since so many oppose it). His answer? Yes, they are wrong. Yes, they are…….The problem we have is that over the last four […]
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The Winds of Change?
13 Sep 2013
From today’s Wall Street Journal: Poll Finds Republicans Gain Favor on Key Issues.
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The French “Get it” – Why Not the US?
12 Sep 2013
The French government finally “gets it”. Or they have been forced to get it. In response to the euro-zone debt crisis France has been increasing taxes to cut its deficit. But the French economy has hit the wall. In France Says It Will Miss Budget Deficit Targets published in The Wall Street Journal, William Horobin […]
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Not All Jobs Are Created Equal
01 Aug 2013
I have written about the Keystone Pipeline on this blog before and I do not intend to go back through the reasons why I think it is something the President should support here. I was struck this week, however, by his recent comments that the pipeline would not produce meaningful jobs. He believes it would […]
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Late this afternoon Gov. Snyder of Michigan authorized Detroit’s emergency manager moving Detroit into Ch. 9 bankruptcy. I have not seen the details of this proposal (and much more is coming out tomorrow), yet what we do know is encouraging from the perspective of the people of Detroit. Detroit is an utter disaster in many […]
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There is little doubt the Fed’s easy money policy, and especially the deliberate QE of buying long term instruments, has resulted in speculative flows investing in those assets. As we related last week, the Fed’s discussion of tapering has resulted in immense turmoil, as speculators are wondering if capital needs to be redeployed away from […]
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PIMCO’s Bill Gross came out swinging today against European austerity today, this after reports that Reinhart and Rogoff’s well-regarded work on debt had some statistical errors on the danger of debt. So today Mr. Gross told the FT, “The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity […]
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President Obama’s 2014 Budget: To what end?
10 Apr 2013
As promised, President Obama unveiled his 2014 budget today, albeit 2 months late. We discussed some of the proposed outlines on Monday, which you can find here. But in his public comments as reported by CNBC, Mr. Obama continues an approach which can only divide, not unify. Whether this is by design is only a […]
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Our national debt is $16.75T, our unfunded liabilities are ~ $120T, and President Obama says we have no debt crisis. In a post last week on the national debt and deficits, I promised we’d discuss the morality of passing the debt burden on to our grand-kids. As is often the case, our moral senses are […]
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach