Tag Archives: Debt

Irrelevance of the Debt Super Committee

Posted on November 21, 2011 by poladmin

Why is this committee irrelevant? Number 1 reason: the changes being discussed are merely window dressing (or should it be chump change?). The Soviet Union was built and fell on 10-year plans, which is what this committee is charged with … Continue reading →

Posted in Economy, U.S. Government | Tagged , , | 2 Comments

Ancient history repeats: First it was Athens, then it was Rome

Posted on November 9, 2011 by poladmin

After months (years) of worry and occasional action on Greek debt, we now move on to Italian debt. Both are charter members of the PIIGS (so far, we are only missing Spain) the group of shaky economies in the Euro … Continue reading →

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Greek debt, political gridlock, and US debt

Posted on November 3, 2011 by poladmin

Earlier there were a lot of people saying good things about how Europe managed to come to a solution for the Greek debt crisis and satisfy multiple conflicting countries while the US spent much of this year with only 2 … Continue reading →

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Jobs, Greece and the American Economy

Posted on October 5, 2011 by poladmin

Greece should not be the model we emulate in plotting our economic recovery. Their model (very much imposed from outside, but also out of desperation) has been to cut and contract their way to prosperity. This is doomed. The more … Continue reading →

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Worst day of the year for Dow, S&P 500

Posted on June 1, 2011 by poladmin

Following the House defeat of the increase in the debt ceiling Wall Street speaks: Dow and S&P 500 report their greatest losses in nearly a year The pundits assign blame to several news items: bad jobs report, manufacturing index, and … Continue reading →

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House defeats increase in the debt ceiling

Posted on June 1, 2011 by poladmin

The House did not have the honesty to vote to raise the debt ceiling enough to even cover the deficit in the Ryan budget passed earlier by the House. So we get the fraudulent approach of the House GOP to … Continue reading →

Posted in Economy, U.S. Government | Tagged , | 1 Comment

Standard and Poors threatens higher interest rates

Posted on April 20, 2011 by poladmin

Standard and Poors threatens to lower the rating of US bonds, while other services (e.g. Moody’s) hold to the high rating. Previously I presented this as a politically motivated move to get S&P back in the news. An alternate way … Continue reading →

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Standard and Poors Ratings on US Debt

Posted on April 19, 2011 by poladmin

Standard and Poors, fresh off their outstanding performance rating mortgage backed securities, needed to regain relevance in the market so they issued a negative report on US Government debt. The Treasury must have missed a payment to them to rate … Continue reading →

Posted in Economy, U.S. Government | Tagged , , | 1 Comment

Tax Day is late this year

Posted on April 18, 2011 by poladmin

Because of the celebration of Emancipation Day in Washington DC, Tax Day is April 18 rather than the usual April 15. This holiday celebrates the act that freed slaves in the District over 8 months before the Emancipation Proclamation of … Continue reading →

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The House passes a so-called budget bill

Posted on April 15, 2011 by poladmin

Today the Republicans, in what can only be called a highly partisan act, passed a budget bill. This comes, appropriately, a few days after the 150th anniversary of the fall of Fort Sumter, but this time the Republicans are on … Continue reading →

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