The Palestinian Authority is facing another budget crisis, after all its July. It has reached its borrowing limit and has a 585 million dollar deficit, again. So naturally its leaders are asking the West for yet another mega handout. Back in 2007, 7.4 billion dollars was pledged to keep the terrorist edifice of the Authority […]
Vallejo, California (And Virtually The Rest Of The State Of California are a complete mess). Almost the entire state of California is an economic disaster zone. Austerity measures are being implemented in city after city as tax revenues have nosedived. The following is an excerpt from a recent New York Times article that describes the […]
The first six months of the “recession” as drawn up above are historically mild, and there’s no reason why the real recession which followed had to be as severe as it was Obamanomics. … in the five months or so leading up to the 2008 presidential election, Pelosi, Obama and Reid deliberately frightened the economy’s […]
When it comes to making bad energy policy decisions, President Obama is a pro. Last week was no exception when the Obama Administration announced it would release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). This is part of an agreement with the International Energy Agency (IEA) to put a total of […]
The Over the Counter (OTC) Bullion Market, will be Banned for ALL U.S. Residents and corporations as of July 15, 2011. Many OTC Precious metal Dealers have already begun to Unwind their Bullion Retail businesses; including one of the world’s largest, Forex.com The New Law will initially Ban Tangible Bullion that is purchased or sold […]
The General Accountant of the Palestinian Authority, Yusef Al-Zumar, said that the PA is having difficulty paying its employees because Arab states are not giving it the financial aid that they promised it. In 2010, he said, the PA only received $280 million of the $960 million promised by the Arabs. In 2011, which is […]
The Federal Reserve’s massive stimulus program had little impact on the U.S. economy besides weakening the dollar and helping U.S. exports, Federal Reserve Governor Alan Greenspan told CNBC Thursday. In a blunt critique of his successor, Fed Chairman Ben Bernanke, Greenspan said the $2 trillion in quantative easing over the past two years had done […]
It has been said that statesmanship consists of choosing the lesser evil. The European Union believes that another bailout of Greece is the lesser evil compared to debt restructuring, giving creditors only part of their money back or giving it back in full later than was originally contracted. The economic wise men of Europe have chosen to […]
The White House has said that unless Congress gives it the green light to lift its $14.3 trillion debt ceiling by Aug. 2, it will default. That would mean lawmakers have about a month to decide whether or not to approve raising the borrowing limit, right? Wrong. In reality, they have about nine days when […]
(By Malcolm Moore, Shanghai) Next month, four enormous steel skeletons, the last of the 12 segments of the bridge, will be shipped 6,500 miles from Shanghai to San Francisco before being assembled on site. The bridge, which will connect San Francisco to Oakland on the other side of the bay, is a sign of how […]
