Brace for Impact: Italy Poised to Launch Euro Parallel Currency
• https://moneymaven.io, by MishItaly faces an "Excessive Deficit" ruling, the first in EU history. Italy's response is a parallel currency proposal.
Contents Pages by Subject
Government Debt & Financing
America's Top Cities Swamped In Debt, Chicago Leads The Way
• https://www.zerohedge.com by Tyler DurdanTaxpayers in America's ten biggest cities face an average per taxpayer burden of $50,000 in debt incurred by the county, state and or "off-balance-sheet" transactions by city government entities, according to Truth in Accounting (TIA).
Italy Folds? Bond Yields Tumble As Govt Promises EU To Cut Welfare Costs
• https://www.zerohedge.com, Tyler DurdenEuro is rallying against the dollar and BTP yields are tumbling after the Italian government has responded to EU concerns (threats of fines) about the southern European nation's surging debtload.
Pettis: China Cannot Weaponize Its US Treasury Bonds
• https://www.zerohedge.comA number of recent articles suggest that Chinese officials may reduce their purchases of U.S. government bonds. It is very unlikely that China can do so in any meaningful way because doing so would almost certainly be costly for Beijing. And even if
"It's Too Much" -
• https://www.zerohedge.com by Tyler Durdan- Trump Criticizes Cost Of Aircraft Carrier Design; Promises Overhaul
St Louis Fed Promotes Still More Free Money For Banks (And Hiding It All)
• By Michael Shedlock Mish's Global Economic TSt Louis Fed researchers concocted a scheme to pay banks still more free money, but this time hiding all of it. At the current rate of 2.35%, the Fed hands out about $33.58 billion in free money to the banks.Interest Rate on Excess Reserves
'It'd be as popular as the plague': Some House members consider taking pay raise this ye
• https://wsbt.com by ANDREW TAYLORA handful of senior House lawmakers, frustrated by a decade of frozen congressional salaries, are quietly exploring whether to accept an annual pay raise that they've shunned since Barack Obama was first president.
'Sanctuary City' Oakland, Near-Broke, Will Use Gas Tax Money to Keep Lights On
• https://www.breitbart.com by JOEL B. POLLAKThe City of Oakland is in such dire financial straits that it is planning to use $2.9 million from state gas tax revenues to keep the city's lights on, rather than using the money to fix pothole-riddled roads, for which the funding was intended.
Bernie's Senior Economic Advisor Sees No Problem in Printing Unlimited Money
• https://fee.org, David YoungbergIf a country created more money than its economy could possibly justify, its money would mean nothing!
Democrats and Republicans Agree to $2 Trillion Vote-Buying Infrastructure Bill
• https://moneymaven.ioTrump, Speaker Pelosi, and Senate Minority Leader Schumer are in agreement on spending massive amounts of money. Republicans and Democrats alike like to spend money. As is typically the case, the only disagreement is how to pay for it.
U.S. may have to stop borrowing later this year: Treasury
• https://www.reuters.comWASHINGTON (Reuters) - The U.S. government will have to stop borrowing money between July and December if Washington doesn't agree to raise a legal restriction on public debt, the Treasury Department said on Wednesday.
The US Government Is Ensnared In A Debt Trap.. And There's No Escape
• https://www.zerohedge.com, by Alasdair MacleodThis article explains why the US Government is ensnared in a debt trap from which there is no escape. Its finances are spiralling out of control. In the context of a rapidly slowing global economy, the budget deficit can only be financed by QE and ba
$220,000 For Every Man, Woman And Child – America Is Now 72 Trillion Dollars In Debt
• by Michael SnyderAre you ready to cough up $220,000 to pay your share? One of the reasons why a day of reckoning for the U.S. economy is inevitable is because we are in way too much debt.
ARS Pounded As Traders Freak Out About Another Argentina Default
• https://www.zerohedge.com, Tyler DurdenThree days after we listed "five reason for the weakness of the Argentina economy", the market is officially freaking out about the country which for much of the past year has been a ward of the IMF (again), and on Wednesday, investors pounded the AR
Social Security Is Facing a $42.1 Trillion Shortfall, Trustees Report Says
• https://fee.org, Daniel J. MitchellThe bottom line is that there's been a worldwide revolution in favor of private savings and the United States is falling behind.
The National Debt is the Most Serious Crisis America Faces
• https://fee.org by David UnsworthIt's time to force Trump to actually live up to his promise of draining the swamp.
Distressed Nation: Each American Would Owe $700,000 To Eliminate Worsening Debt...
• https://www.zerohedge.com, By Tyler DurdenDistressed Nation: Each American Would Owe $700,000 To Eliminate Worsening Debt Situation
Federal Reserve Balance Sheet
• Khan Academy - YouTube.comAnalysis of the federal reserve balance sheet as of Feb 2007
Pentagon books so wrong on every level it's impossible to detect fraud – Matt Taibbi
• RT.com by Lee CampThe US Department of Defense's (DoD) finances are so labyrinthine and full of invented numbers that it's impossible to detect cases of rampant fraud and criminality from the books, journalist Matt Taibbi told RT's Lee Camp.
The Pentagon's Bottomless Money Pit
• https://www.rollingstone.com, By MATT TAIBBIWhen the Defense Department flunked its first-ever fiscal review, one of our government's greatest mysteries was exposed: Where does the DoD's $700 billion annual budget go?
Four ways that Uncle Sam will respond to its $75 trillion insolvency
• https://www.thedailybell.comLast week I told you that the US government recently reported a negative net worth of MINUS $75 TRILLION. That's not a type-o. According to the Treasury Department's annual financial report for Fiscal Year 2018 (which they just published last
Cyprus, Six Years Later
• https://www.zerohedge.com by Harris KuppermanI'm writing to you from the beach in Larnaca, Cyprus. It's 6am and I'm jetlagged, hopped up on coffee and ready to get exploring.
US government's net worth is now NEGATIVE $75 TRILLION
• https://www.sovereignman.comUsually around the middle of February each year, the US Treasury Department releases an annual report of the federal government's financial condition.
$7 Billion in Equipment Looted From Former US Base in Afghanistan
• AntiWar.com by Jason DitzGovernor says officials systematically looted site for years
Pentagon Audit: Evidence Proving $21 Trillion Unaccounted For – Opening Statement
• https://www.globalresearch.ca, By David DeGrawAccording to United States government documents, since 1998, the Office of the Inspector General has reported $21 Trillion in unaccounted for money.
US Halts Foreign Aid To Central American 'Caravan' Countries;
• https://www.zerohedge.com by Tyler DurdanGuatemala, Honduras And El Salvador Cut Off
What Iceland Can Teach America about Debt Reduction
• https://fee.org, Daniel J. MitchellDebt reduction is possible. Indeed, there can be huge reductions in a very short period of time.
Bill Clinton was not Great for the Economy. Epic Takedown
• The Liberty Advisor - Tim PicciottPodcast by Tim Picciott, The Liberty Advisor: We've all heard it from the left time and time again. Well, at least Bill Clinton knew what he was doing with the economy, or Bill Clinton did a great Job with the economy or even the dreaded, it's a
Marty Feldstein Warns "The Debt Crisis Is Coming"
• https://www.zerohedge.com by Martin FeldsteinThe most dangerous domestic problem facing America's federal government is the rapid growth of its budget deficit and national debt.
US Budget Deficit Hits A Record $234 Billion As Interest On Debt Soars
• https://www.zerohedge.com by Tyler DurdanAnother month, another frightening jump in the US budget deficit. And this time it was a record.
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