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Category Archives: The Mine or the Shaft
Fed Raises Rates to Highest Level Since 2001
The U.S. Federal Reserve raised its benchmark lending rate on Wednesday to the highest level since 2001 to tackle above-target inflation, and signaled the possibility of further increases ahead. The quarter percentage-point rise lifts the key lending rate to a … Continue reading
The Federal Debt Trap: Issues and Possible Solutions
“Rather than collecting taxes from the wealthy, the government is paying the wealthy to borrow their money.” ~ New York Times, July 7, 2023 Titled “America Is Living on Borrowed Money,” the editorial observes that over the next decade, according … Continue reading
The FREAK SHOW: Treasury Increases National Debt By Over $850 Billion in Just One Month
A month ago, the fake debt ceiling fight ended and Congress suspended the federal government’s borrowing limit for two years. Since the debt ceiling deal, the US Treasury has added a staggering $851 billion to the national debt. Within a … Continue reading
Recession? Calm Before The Financial Storm?
Is a recession coming? Is this the calm before the storm? JPMorgan Asset Management Global Head of Fixed Income Bob Michele said that today’s economic climate calls to mind the lull seen in the 2008 financial crisis. Michele, who manages … Continue reading
More Federal Debt Means More Taxes, Less Growth, and Weaker Real Wages
Since 1960, Congress has raised the debt ceiling 78 times, according to Bloomberg. The process of increasing the debt limit has become so regular that markets barely worry about it. Furthermore, as the 2011 debt ceiling crisis showed, the impact … Continue reading
The Economics of Scrunched Up Cash
Some say the free market can’t be trusted to handle money, but the truth is exactly the opposite. It’s the government that creates problems with money. As I was going through my wallet the other day I came across a … Continue reading
Social Security ~ It’s YOUR Money – NOT Theirs!
A woman, or man dies at age 65 before collecting one benefit check. She/He and her employer paid into the system for almost 50 years and she collected NOTHING! Keep in mind all the working people that die every year … Continue reading
Smith: America’s Real Wealth Destroyed or Stolen by Bad Economic Practices
So little time do we have left here on earth and so much is left for us to do. Our nation is in deep shit, and much of it can be traced back to poor morals taught in our homes … Continue reading
Inflation Is Here for the Long Run – and it’s increasingly a bummer for American households
The share of U.S. adults telling pollsters at Gallup that they are experiencing financial hardship because of inflation climbed to 61 percent in the most recent survey, up from 56 percent in the August and November survey. The share saying … Continue reading
Anderson: In the Event of an Official US Bankruptcy
The current known federal debt is $31.7 trillion according to the web site, US Debt Clock, which is about $94,726 for every man, woman, and child who are citizens as of April 24, 2023. Can you write a check right … Continue reading