In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations […]
WASHINGTON — Federal regulators said Tuesday they expect U.S. bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to be running at a deficit this month. That is higher than an earlier estimate of $70 billion in failure costs through 2013. The Federal Deposit Insurance […]
The U.S. dollar will continue weakening, and investors may borrow it to invest in higher-yielding assets, says Peter Schiff, president of Euro Pacific Capital. “I don’t know when (the dollar) is going to strengthen,” Schiff told CNBC. “The dollar isn’t the new yen, it’s unfortunately the new peso.” A weak dollar and low U.S. interest […]
Boston University economics professor Laurence Kotlikoff says the government “is going broke.” In a Federal Reserve Bank of St. Louis Review article, he points out that bankruptcy is usually defined as an inability to pay interest on current debt, with no prospect of being able to pay without changes in circumstances. In assessing whether the […]
The Obama administration intends to “backdoor” illegal immigrants into its proposed health-care plan by passing an immigration reform bill that would give legal status to as many as 12 million illegal immigrants currently in the U.S., charged Radio America talk-radio host Rodger Hedgecock today in Washington, D.C. Calling comprehensive immigration reform the Obama administration’s “second […]
When Obama spoke the lie, he knew that any verification of ID had been deleted out of the bill. His fellow Democrats killed the amendment that would have required authentication of citizenship.