By Bill Wilson — The “new” normal is actually not so new. The practice of printing money or inflating a currency to “pay” for a national debt has been around for at least as long as the practice of governments borrowing funds to pay for their unsustainable […]

By Bill Wilson — If nothing changes about our current spending trajectory and Barack Obama gets everything he what he wants out of Congress this year in his budget, the national debt will increase $10 trillion over the next decade — to $25.9 trillion by 2022. What’s alarming about this number is that it could be even higher. […]

By Rebecca DiFede — On Tuesday, the Labor Department reported that the unemployment rate for U.S. veterans who’ve served during the wars in the Middle East increased last year to 12.1 percent, up from 11.5 percent in 2010 . President Obama has pledged to bring home from Afghanistan 123,900 troops by fiscal year 2017, and this […]

By Robert Romano — According to the Congressional Budget Office (CBO), the budget proposed by House Budget Committee Chairman Rep. Paul Ryan , and to be voted on by the House of Representatives, would be balanced by 2040. By his own numbers, the only time the budget would even be cut is in 2013 and 2014, and then […]

NRD Editor’s Note: This article appeared in The Washington Examiner on March 16, 2012. By Bill Wilson — Yesterday, the International Monetary Fund (IMF) approved a whopping $36.7 billion bailout of the banks that are owed money by the government of Greece. Shockingly, U.S. taxpayers are on the hook for […]

By Bill Wilson — To date, the IMF has given Greece and European banks $26.8 billion in kick-the-can refinance loans. Now the IMF, which the U.S. funds, is bailing out the banks that bet poorly on her debt with another $36.7 billion. Our stake was already $13.5 […]

By Bill Wilson — Leave it to the New York Times’ Paul Krugman to find a tautological rationale for never cutting spending. Writing March 11 on the €105 billion default of Greece , Krugman warns U.S. policymakers against “trying to reduce deficits too quickly, while the economy is still deeply depressed”. Krugman is resisting the often-made comparison […]

Interestingly,  the European Banking Authority (EBA) and Depository Trust & Clearing Corporation (DTCC) data on net CDS exposure does not match. The difference could be that EBA is only reporting on European data, so one presumes worldwide exposure would be even larger. In any event, […]

By Rick Manning — “The monthly unemployment rate has become a meaningless statistic that no longer reflects the reality of America’s economy or even the state of our nation’s employment.  Shockingly, the stated rate of 8.3 percent does not include the  4.4 million Americans who have dropped […]

By Bill Wilson — Is the European debt crisis over? Since the latest €130 billion bailout of Greece was agreed to on Feb. 21, rates on Italian and Spanish debt have seemingly stabilized, dropping from 5.44 percent and 5.11 percent respectively to 4.8 percent and 5.05 percent. Granted, yields on […]