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Fiscal Suicide, Part II: A Swirling Motion

Medicare cuts (or lack thereof), government-sourced personal income, emergency loans to the states, and more. Russ discusses how it is hard to see how we’ll get by without some of this being renewed — and none of it is factored into the deficit projections.

19Jul2011 | | 0 comments | Continued
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Fiscal Suicide; The Point of No Return

The bottom line here is that the gravy train of no accountability, no consequences spending is over.

19Jul2011 | | 1 comment | Continued
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U.S. Greater Depression Accelerates

The various (terminal) structural defects in the economy, and near-infinite debts have made net U.S. economic growth totally unattainable. The faked “recovery” trumpeted by the U.S. propaganda-machine was never plausible to anyone viewing long-term charts… I give it no more than a month before B.S. Bernanke’s latest “exit strategy” once again morphs into just more money-printing.

15Jul2011 | | 7 comments | Continued
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The Real Reason Hitting The Debt Limit May Mean Social Security Checks Stop

This one may not be about politics: there is a good legal and economic reason Social Security is put in jeopardy by hitting the debt limit.

14Jul2011 | | 11 comments | Continued
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U.S. Small Businesses Face Extinction

Over the past 15 years, almost 2/3 of all net job creation in the U.S. has come from small business. With the various levels of U.S. government accounting for basically all of the rest of the new jobs in the U.S., this means that medium- and large-sized businesses have done nothing for the U.S. economy over the past 15 years. Despite this glaring dichotomy where we see small businesses producing all of the positive business activity in the U.S. economy while mid-sized and large businesses have contributed nothing, U.S. tax policy is punitive in the extreme toward small businesses (and their owners).

13Jul2011 | | 5 comments | Continued
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Economic Forecasts: Lies or Idiocy? Part II

The immediate propaganda objective of pretending that there is a “U.S. economic recovery” underway has nearly exhausted its own shelf-life. Undoubtedly there will be a new initiative which replaces it – with the twin objectives of attempting to preserve the banksters’ paper empire while continuing to deceive and placate the masses. I can only hope that when the next barrage begins that the timeless wisdom of Shakespeare will help to shield readers from its insidious effects.

8Jul2011 | | 3 comments | Continued
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Federal Tax Receipts Show Economy Grinding To A Halt

The one month moving average of daily withholding tax collections is at about the same level as last year. May’s gains have dissipated. The 13 week moving average is sinking fast and should be hitting bottom now. It is at roughly the same level as last year. Normal seasonality has a flat period through Q3, with a drop into the low in September/October. If this graph drops below last year’s level from here, then the economy probably is in free fall. That would be very bad news in terms of the levels of debt the Treasury must float in the months ahead.

17Jun2011 | | 0 comments | Continued
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Growth in Despair the Only U.S. ‘Growth’

Now, as the U.S. economy is quite obviously turning lower again, Americans are finally shedding their “rose-coloured glasses” and beginning to view the U.S. economic nightmare for what it really is. That conclusion is strongly reinforced by the following statistics…

9Jun2011 | | 0 comments | Continued
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Government Heads For Budget Collapse

The government is massively overshooting Treasury Borrowing Advisory Committee (TBAC) borrowing estimates issued in May. As I pointed out in the Treasury update at at the time, the government’s and the TBAC’s economic assumptions have been way too optimistic.

8Jun2011 | | 0 comments | Continued
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Why Ron Paul Is Pushing For a US Gold Sale

The New York Sun is reporting, as part of the debt ceiling debate, that Rep. Ron Paul (among others) is actually calling for a US gold sale to ameliorate the situation… Astute observers may note that Rep. Paul is doing something very shrewd here.

18May2011 | | 3 comments | Continued