Category Archives: Uncategorized

I wrote yesterday about the World Economic Forum’s Global Risks 2010 report, and how its top risk is unsustainable debt levels among several nations, notably the United States. The WEF report referred to the article, “Is the United States Bankrupt?” written by Laurence J. Kotlikoff for the July/August 2006 issue of the Federal Reserve Bank […]

I wrote last month in The Kelly Letter about the growing risk of sovereign debt default, national bankruptcy in layman’s terms. Several countries around the world are facing it, the US among them, and one or several such defaults would make the corporate bankruptcies of 2008 look like fallen grass blades before falling redwoods. In […]

The debt deleveraging process is still in its infancy, I don’t care what the happy talkers say on TV. Last week, the McKinsey Global Institute issued a report looking at where the world’s rich economies lie along the spectrum of debt reduction. America’s ratio of total debt to GDP (which includes debt owed by households, […]

Stephen Moore wrote in The Wall Street Journal Political Diary yesterday: Marriage is a revered institution in America but not apparently under the Congressional health care legislation, which contains steep “marriage penalty” taxes, i.e. tax burdens that only get heavier when a couple says, “I do.” Under the Senate bill, if family income rises above […]

From Chris Hedges’ column at Truthdig: These deeply stunted and maladjusted individuals, from Treasury Secretary Timothy Geithner to Robert Rubin to Lawrence Summers to the heads of Goldman Sachs, Morgan Stanley, J.P. Morgan Chase and Bank of America, hold the fate of the nation in their hands. They have access to trillions of taxpayer dollars […]