THE KELLY LETTER OR
Good morning! ______________________________ OVERVIEW Is June 30 America’s Debt D-Day? | Pimco’s Bill Gross thinks so because it’s when the Fed stops buying Treasuries and we see if anybody else steps forward. The Economy Keeps Improving | The Federal Reserve’s Beige Book reported that economic activity continued expanding in early 2011. Apple Extends Its Lead [...]
Good morning! ______________________________ OVERVIEW $1.4T Deficit is No. 1 Economic Threat | Economists think it’s worse than high unemployment and the risk of inflation or deflation. Housing Prices Falling | The Case-Shiller Index of home prices is down 3.7 percent in six months, and probably has farther to fall. Market Crash 2011 | Bears say [...]
From an 11-chart overview of inequality in America at Mother Jones.
Good morning! Here’s what you need to know: ______________________________ OVERVIEW Inflation | It’s showing up everywhere but has been bullish for stocks. Injustice | None of the crooks behind the financial crisis are in jail — maybe because they changed the laws before misbehaving. US Economy | Japan thinks America is recovering less strongly than [...]
From this morning’s Wall Street Journal: President Barack Obama’s 2012 budget proposal projects this year’s deficit will reach $1.6 trillion, the largest on record, as December’s tax-cut deal begins to reduce federal revenues, a senior Democrat said Sunday. The new forecast is larger than the $1.48 trillion deficit projected last month by the Congressional Budget [...]
I received yesterday a certified letter from the IRS informing me that I need to send money to the Treasury for the third time in three months. On the one hand, I’m fortunate to make enough money to need to pay so much so often. On the other hand, I have to wonder what I’m [...]
Following up on yesterday’s article highlighting Arthur Laffer’s idea that an 18-month tax holiday would have cost less than the stimulus and achieved a 2.5% unemployment rate already, today we look at a similar idea: abolishing the corporate income tax forever. Bill Frezza wrote yesterday that the government should not distinguish between so-called “good” and [...]