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A Vote For Presidential Change
But how different will things really be?
Unless you’ve been in a coma in the nearest hospital, you’re well aware that Barack Obama has been elected the President of the United States of America in pretty much a landslide vote.
The main theme of his campaign has been ‘change’. Well, just how much financial change can we expect from the new man in power?
For a hint or three, let’s look at what he did before he became the President-Elect: Obama voted for the massive $700 billion financial rescue package passed by lawmakers and signed into law by President Bush in October. He subsequently…
6Nov2008 | Oxbury Research | Comments Off | ContinuedBalooning Deficits…But Who Cares?
In the first 16 days of the new fiscal year the U.S.’ national debt grew by $300 billion. That’s a growth rate of 75% and equates to a debt load of $17 trillion by this time next year. But, as the title of this post states, who cares?…
…definitely not U.S. regulators. You see, it’s very simple. With the greatest creation of money and credit ever seen in the U.S. underway, our fiscal balance becomes irrelevant to those who continue to put our nation further in the red.
The debt must be looked at in real terms not nominal, and we must…
23Oct2008 | The Real Deal | Comments Off | ContinuedThe National Debt: The Biggest Threat to Your Financial Future
I don’t ordinarily watch horror flicks. So I certainly don’t recommend them. But today I’m making an exception.
Take everyone over 15 in your household to see Addison Wiggin’s new movie “I.O.U.S.A.” at your local theater. It’s an eye-opening experience. And a wake-up call.
I saw the film in Asheville, NC on opening night last Thursday. And I was lucky to get in. The movie sold out. More than two dozen people were turned away. (Some ticket holders were auctioning off their tickets to the highest bidders!)
What’s all the fuss about? I.O.U.S.A. is a long overdue documentary that takes a hard look…
27Aug2008 | Investment U | Comments Off | ContinuedExclusive Interview: Jim Rogers Predicts Bigger Financial Shocks Loom, Fueling a Malaise That May Last for Years
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VANCOUVER, B.C. – The U.S. financial crisis has cut so deep – and the government has taken on so much debt in misguided attempts to bail out such companies as Fannie Mae (FNM) and Freddie Mac (FRE) – that even larger financial shocks are still to come, global investing guru Jim Rogers said in an exclusive interview with Money Morning.
Indeed, the U.S. financial debacle is now so ingrained – and a so-called “Super Crash†so likely – that most Americans alive today won’t be around by the time the last of this credit-market mess is finally cleared away – if it…
Congress Mortgages the Economy’s Future to Save Fannie Mae and Freddie Mac
With President Bush no longer threatening a veto, the subprime mortgage and Fannie Mae (FNM) and Freddie Mac (FRE) “bailout” bill sailed through Congress. In anticipation of its enactment, Congress had the foresight to raise the national debt limit to $10.6 trillion. Who says that politicians don’t plan ahead?
Once signed into law, which should happen sometime this week according to a White House spokesman, the budget busting legislation will hand the Administration a blank check to prop up the ailing home lenders. The ultimate cost is anybody’s guess. I believe that the price tag will be higher than just about anyone…
29Jul2008 | Money Morning | Comments Off | Continued
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