Wolf Richter at Wolf Street. Consumer credit – auto loans, student loans, and revolving credit such as credit card balances and personal loans, but not housing-related debt such as mortgages and HELOCs – grew 5.4%, or by $208 billion, in the second quarter compared to...
debt
Bring our troops home from the Middle East. Now
Bonnie Kristian in the L.A. Times Our foreign policy going forward should be informed by what this recent poll shows most Americans have already realized: The wars in Iraq, Afghanistan and Syria weren’t worth it. They cost us dearly in every respect: indebted future...
April tax Receipts Up 1.8% at $2 Trillion
Unfortunately, spending is up 7.6% to $2.57 trillion. The largest increase is debt service, up 13.6% from last year. This is in a low interest rate environment. The Fed is trapped in maintaining low interest rates. Danielle DiMartino: "Fed controlled rates...
Space Weapons, North Korea, & Citgo
On FPF #324, I break down several important news stories. An IG report shows billions of dollars were spent on the F-35 without oversight, and the US is planning to invest over $300 million on space lasers. The US will allow Citgo to make debt payments to Venezuela....
Proof That “the Rich” Aren’t Going to Fund the Tidal Wave of New Spending
So, $47 billion on free college tuition; $1 trillion for new infrastructure; $1.4 trillion to write off student loan debt; at least $7 trillion on a Green New Deal; $32 trillion on “Medicare for All.” By one estimate, these new spending proposals total an estimated...
U.S. National Debt Tops $22 Trillion
Is that alot?
The Antiwar Comic: The Global War on Terror Memorial
Just when I think D.C. can't sink any lower... For more comics, visit The Webcomic Factory.
11/27/18 Hunter DeRensis on the Bankruptcy of the American Empire
Hunter DeRensis joins the show to talk about his recent article for the American Conservative Magazine. He cites Stein's law, named for economist Herbert Stein, which says that if something can't go on forever, it will stop. This seems obvious, but people frequently...
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