Italy faces an "Excessive Deficit" ruling, the first in EU history. Italy's response is a parallel currency proposal.
Taxpayers 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).
Euro 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.
A 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
- Trump Criticizes Cost Of Aircraft Carrier Design; Promises Overhaul
St 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
A 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.
The 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.
If a country created more money than its economy could possibly justify, its money would mean nothing!
Trump, 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.
WASHINGTON (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.
This 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
Are 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.
Three 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
The bottom line is that there's been a worldwide revolution in favor of private savings and the United States is falling behind.
It'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 Situation
Analysis of the federal reserve balance sheet as of Feb 2007
The 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.
When 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?
Last 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
I'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.
Usually around the middle of February each year, the US Treasury Department releases an annual report of the federal government's financial condition.
Governor says officials systematically looted site for years
According to United States government documents, since 1998, the Office of the Inspector General has reported $21 Trillion in unaccounted for money.
Guatemala, Honduras And El Salvador Cut Off
Debt reduction is possible. Indeed, there can be huge reductions in a very short period of time.
Podcast 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
The most dangerous domestic problem facing America's federal government is the rapid growth of its budget deficit and national debt.
Another month, another frightening jump in the US budget deficit. And this time it was a record.