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Tag Archives: deficit
Three Reasons Why the U.S. Government Should Default on Its Debt Today
Three Reasons Why the U.S. Government Should Default on Its Debt Today The overleveraging of the U.S. federal, state, and local governments, some corporations, and consumers is well known. This has long been the case, and most people are bored by the topic. If debt is a problem, it has been manageable for so long […]
Austrians vs. The World On Canadian Fiscal Austerity
Austrians vs. The World On Canadian Fiscal Austerity I don’t know whether this is something the average Canadian discusses over coffee, but the sharp fiscal turnaround in the mid-1990s is still providing fodder for today’s economists to argue. In September 2014, I summarized the Canadian budget triumph, in which the federal government turned its deficit into […]
Is ‘holding the course’ putting Canada in recession?
Is ‘holding the course’ putting Canada in recession? Conservatives blame ‘external factors’ for slide, economists say government choosing to let it go Emanuella Enenajor likely caused more than a few politicians to choke on their Stampede pancakes last week. The analyst with Bank of America Merrill Lynch was the first from a major financial institution to utter the dreaded R-word — recession. […]
Meet Canada’s Latest Liberal Man-Boy
Meet Canada’s Latest Liberal Man-Boy Can You Really Trust Justin Trudeau? Here we go again — the Red Book 3.0. Yet another build-up of Liberal election promises just like the ones we’ve seen before (though I admit the one about changing the voting system might be hard to dodge). The most infamous, of course, was […]
How Harper Put Canada Massively in the Red
How Harper Put Canada Massively in the Red He ate up a huge federal surplus, piled up six deficits. This PM wants to run on fiscal smarts? Last in series In the run up to the 2015 federal election, the Harper government will try to convince Canadians that the prime minister and his crew have […]
An Insane Financial World
An Insane Financial World We know that most western governments are deficit spending, borrowing heavily, in debt beyond the point of no return and must increase taxes and appropriations from their citizens. We know that politicians will take the politically expedient path instead of addressing financial problems. We know they will “extend and pretend,” delay, […]
Puerto Rico Faces Default, Government Shutdown On July 1
Puerto Rico Faces Default, Government Shutdown On July 1 Late last month we outlined what is an increasingly desperate fiscal crisis in Puerto Rico. The commonwealth faces a July 1 payment of $630 million on its GO bonds and without furloughing some public sector employees, it’s not clear that the payment can be made, setting up a possible […]
“Stop Being So Negative”: Putting It All Together
“Stop Being So Negative”: Putting It All Together Putting it all together Considering: 1) governments are unable to eliminate deficits 2) global government debt is increasing exponentially 3) 0% interest rates are allowing governments to borrow more to pay off old loans and fund deficits 4) Global growth is declining despite money printing and bailouts […]
Potemkin on the Pacific—–Abenomics Is Still Failing
Potemkin on the Pacific—–Abenomics Is Still Failing For the first time since June 2012 Japan has attained a trade surplus. It is, however, premature to interpret that as an end to the impoverishment the island has undertaken these past three years, the last two under QQE. There are various reasons for the end of the […]
Paul Krugman is wrong about the UK and borrowing
Paul Krugman is wrong about the UK and borrowing Paul Krugman once did something or other quite good on the economics of trade, winning him the Nobel Prize. He also wrote some rather good stuff in the 1990s about the euro and about how Japan might escape its then-malaise. Quite a lot of orthodox economists […]
Prospect of deficit threatens Conservative government’s best laid plans | Toronto Star
Prospect of deficit threatens Conservative government’s best laid plans | Toronto Star. TTAWA—Prime Minister Stephen Harper’s government faces a roller-coaster ride in the coming months as it tries to balance Ottawa’s books and implement a lavish program of family-oriented tax cuts and spending in advance of an election. The Conservatives have been saying 2015 will […]
Brazil’s Economy Just Imploded | Zero Hedge
Brazil’s Economy Just Imploded | Zero Hedge. China may have mastered the art of fabricating economic data to a level unmatched by anyone except the US Department of Labor, but its derivative countries have much to learn. And none other more so than one of China’s favorite sources of commodities over the past decade: Brazil. […]
The Math Does Not Lie: America Is One Hiccup Away from Total Anarchy | The Daily Sheeple
The Math Does Not Lie: America Is One Hiccup Away from Total Anarchy | The Daily Sheeple. Half the country is on welfare assistance of some sort. Seventy million Americans receive some kind of federal assistance in obtaining food. The United States is one disaster from total anarchy. The disaster is likely to result from […]
