By Robert Romano – The sovereign debt funding crisis ravaging Europe is a window into America’s future, should Congress fail to find a way to rein in the $14.3 trillion national debt this decade. The only difference is there will not be anybody to bail us out. […]

By Robert Romano – Is the Federal Reserve a so-called “bad bank?” According to Euro Pacific Capital Chief Economist Michael Pento , the Fed has just $52.5 billion of capital to back its $2.7 trillion balance sheet, an equity cushion of just 2 percent. Over $917 billion of that balance sheet is in mortgage-backed securities (MBS), […]

By Robert Romano – On June 7, a massive solar flare was observed that spewed a cloud billions of tons of solar material into space, before much of it landed back upon the sun’s surface. I’m not a climate scientist, but it would seem that since the […]

By Robert Romano – Since Sep. 2007, when the recession began, to Sep. 2011, we will have borrowed and spent an additional $6.469 trillion . In addition, since then the Federal Reserve has expanded its balance sheet (minus treasuries purchases) by an additional $1.117 trillion . In fact, the central bank has expanded its balance sheet in total by $1.930 trillion since then, but we’re not going to double-count its […]

By Robert Romano – Don’t play politics with the debt ceiling. That’s what the so-called experts have said. Just give the Obama Administration a clean vote increasing the $14.294 trillion borrowing limit. “I don’t see why anybody’s playing chicken with the debt ceiling,” chairman of the U.S. Council of Economic Advisers Austan Goolsbee commented on ABC’s “This Week” program in January . He warned that […]

By Robert Romano – The national debate over the debt ceiling has been compared to a high stakes game of “chicken”. Everyone is familiar with the game, where two drivers speed headlong at one another. The one who doesn’t swerve “wins,” while the one who does is […]

By Robert Romano – So much for Barack Obama’s vaunted transparency. Americans for Limited Government (ALG) is appealing the Department of Labor’s refusal to turn over all documents related to a Freedom of Information Act (FOIA) request on enforcement of 185 laws the Department is required to follow . And the organization is still waiting to hear back on key items in the request. This is nothing new with the Obama Administration. Recently, Crossroads GPS created an online […]

By Robert Romano – A taxpayer revolt in Europe, which most recently struck in Iceland, has now swept into Finland as well. There, the True Finn party has come out of nowhere to take control of 39 seats in that nation’s parliament in the April 2011 election. […]

By Robert Romano – “We are in a double-dip housing recession,” declared Americans for Limited Government President Bill Wilson , commenting on a Zillow, Inc. report showing a 22 percent increase in negative equity, a measure of homeowners owing more than their properties are worth and an increase in foreclosures for the first quarter of 2011 . “Zillow’s data confirms what Case Shiller reported two weeks ago , with home values plummeting to their April 2009 lows,” Wilson noted. Except, none of this was supposed to happen. When Barack […]

By Robert Romano – It was a telling moment in America’s political discourse. It hinted at how Republicans might govern should they reclaim a majority in one or both houses of Congress in 2010. “We need to capture this lightning in a bottle,” former Virginia Republican Congressman Tom Davis said of the tea party […]