Charles Rowley summarizes two options facing bond holders as sketched out by Stanley Druckenmiller, the legendary investor and onetime fund manager for George Soros. “First, suppose that one owns a 10-year Treasury. In return, one receives an income stream over that period. As a result of default that income stream will be delayed for…
Read More »
In�this new article on the continual spending and stretching of the budget, Dr. Emily Skarbek explains the temptations for the new Congress to spend wastefully and heighten the debt ceiling. Equating Congress and the ever-expanding budget to over-eaters, Dr. Skarbek says that small intervals of “another ten pounds” are causing an extreme obesity crisis…
Read More »
Over at Economix, Casey Mulligan has a nice illustration of Austan Goolsbee’s approach to economic planning. In essence, targeted means of stimulating investment (say, with New Homebuyer tax credits) don’t work to increase investment, and thereby employment, in the short-run. Rather these types of subsidies have drive up prices for current asset owners�constituting windfall…
Read More »
Michael Snyder reports on seventeen statistics on the unsustainable nature of reckless U.S. government spending and debt. 1. As of December 28th, 2010, the U.S. national debt was $13,877,230,355,933.00. 2. If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it…
Read More »
 |
 |
 |
 |
