By Robert Romano — “If a monetary deal’s going to work, the central bank has to have unlimited powers to intervene to support economies, and indeed banks, to prevent collapse.” That was how the UK’s Business Secretary Vince Cable, a Liberal Democrat, put it on the BBC , speaking on the European Central Bank (ECB).  He was basically complaining that Article 123 of the Lisbon Treaty , which created the […]

By Robert Romano –The ascendancy of new Italian Prime Minister Mario Monti, along with the European Union’s latest efforts to overthrow the Greek government will not necessarily fix the fundamental underlying problems of the European debt crisis. For example, increasing the retirement age of women from now 60 years old to begin rising in 2014 to only reach 65, and then only in 2026 , or overall raising the retirement age for men to 67 in 2026 and 70 in 2050 , will hardly move […]

By Bill Wilson — There has been no clearer articulation of the coming tyranny to be imposed on the once-sovereign nations of Europe — and what may be in store for the debt-addled U.S. should it fail to restore order to its fiscal house — than a […]

By Robert Romano — Moody’s recently announced that the quality of credit in the state and local municipal bond markets is deteriorating, which credit downgrades outpacing upgrades by 5.3 to 1.  This led BigGovernment.com writer Chriss W. Street to proclaim that “The Municipal Bond Market is Imploding” . A more accurate headline might […]

By Rick Manning — 125,000 jobs created. That’s how many new jobs our economy needs to create each month just to keep up with the normal growth of the population. That’s why President Clinton Labor Secretary Robert Reich termed the October unemployment numbers, “I wish there were light at the […]

DEVELOPING… The unemployment rate improved slightly in October to 9.0% . Only 80,000 jobs were added, far below the 100,000 that Department of Labor officials had hoped for.

By Robert Romano — “The fact is, we are already bailing out Europe.” That was Americans for Limited Government (ALG) President Bill Wilson ’s take on a recent Congressional Research Service (CRS) report published in September that showed the International Monetary Fund (IMF) has already dispensed €78.5 billion to the creditors of Greece, Portugal, and Ireland, or about $112 […]

Interesting revelation from Obama. Apparently the state of the economy has “always” been his “responsibility.” Could have sworn he blamed the economic problems in the U.S. on someone else for years…

By Robert Romano — Responding to criticism that the Federal Housing Finance Administration (FHFA) is not doing enough to deal with the ongoing economic downturn in housing, the Obama Administration is firing back that it is working within the limits set forward by Congress. Democrat members of […]

By Howard Rich — Ireland’s refusal to bow to Eurozone pressure on tax hikes has resulted in slow but steady economic growth on the Emerald Isle — while Greece’s insistence on tax hikes in lieu of tougher “austerity” measures has crippled its economy and threatened […]