By Robert Romano — When the European sovereign debt crisis began at the end of 2009, when it was revealed that Greece had hidden about €30 billion ($38.7 billion) of liabilities from the accounting of its national debt , all the smartest people in the room assured us that there was no risk. Greece was tiny, with a Gross Domestic Product just 2.5 percent of the whole Eurozone. Besides, […]

By Rick Manning — Thursday’s headlines from Washington, D.C. will likely read that the House of Representatives passed a ten year path to a balanced budget proposed by Representative Paul Ryan. While the Ryan budget is a gigantic step in the right direction, a proposal by the House […]

Update: The Cyprus parliament has rejected the savings tax unanimously . For now. The rejection came in spite of modifications to the proposal that would have exempted the first €20,000  ($25,894) deposited from the tax. By Bill Wilson — The Politeuro strikes again. A recent €10 billion ($13 billion) European Union (EU) and the International Monetary Fund (IMF) bailout package to prop up Cyprus’ banking system that lost billions on Greek debt comes with a very curious string […]

NRD Editor’s Note: This column originally appeared at TheHill.com . By Rick Manning — News flash. Senate Democrats pass a budget out of committee that includes massive tax increases, dramatically increases spending, never is projected to come close to balancing the budget, and in a tip of the […]

By Robert Romano The past 3 years the $16.7 trillion national debt has grown at an average rate of 10.5 percent, while nominal Gross Domestic Product (GDP) has averaged just 3.85 percent. This is one of the primary reasons why the debt has soared to 103.8 percent […]

By Bill Wilson — Barack Obama wants to double the U.S. quota subscription in the International Monetary Fund (IMF) to $130 billion from its current $65 billion level. This is the foreign aid organization that has been busy bailing out Greece, Portugal, and Ireland with $86.6 billion. U.S. taxpayers have been responsible for about 20 percent of those bailouts, or approximately […]

By Robert Romano — All the economic babble cannot hide one simple fact; if inflation hits, the Federal Reserve may be powerless to use interest rates as a device to rein it in.  The central bank has sacrificed that policy tool in order to make sure the […]

By Bill Wilson — We are all Krugmanistas now. On the political left and right, there is a perception, succinctly articulated by the New York Times’ Paul Krugman that “[W]e have our own currency” and the government “literally can’t run out of money. After all, it can print the stuff.” In short, because the Federal Reserve is […]

By Rick Manning — Awkward. That is how the Washington Post characterized an Obama Administration request to make a permanent $65 billion pledge to the International Monetary Fund. But the request is more than just awkward, it is a window into the priorities that Obama is setting for America. […]

Bill Wilson , president of Americans for Limited Government, issued the following statement in reaction to announced plans of the House GOP to pass a continuing resolution to fund the federal government through September 30, 2013 today. “It is incredible that the House of Representatives in its […]