Speaking of Chutzpah…

It takes a lot of it to write something this asinine:

Let’s start with S.& P.’s lack of credibility. If there’s a single word that best describes the rating agency’s decision to downgrade America, it’s chutzpah — traditionally defined by the example of the young man who kills his parents, then pleads for mercy . . . → Read More: Speaking of Chutzpah…

The MSM is Catching On

One can only hope that this is indicative of the future:

For all the rancor, there were good intentions behind the recent deal to cut government spending and start reducing the national debt, which stands at about $14.3 trillion, nearly the size of the entire U.S. economy. The debt problem is a real issue, . . . → Read More: The MSM is Catching On

The Great Compromise, in Plain English

“We agree to allow ourselves to borrow more money now. In exchange we pinky-promise ourselves to cut spending later.”

Five More Days

With the doomsday clock showing that America is five days away from the Economic Apocalypse™, I can’t help but wish that Boehner finally grows a pair and stands up against any proposed increases in the federal debt ceiling. I’ve noted multiple times before how an increase in federal debt is a horrible, horrible idea, . . . → Read More: Five More Days

John Williams: Debt Limit Debate Sign of Deeper Dysfunction

ShadowStats Editor John Williams advises legislators to stop fooling around with the country’s credit rating. Regardless of the deal reached, he predicts that the Treasury and Fed will continue to print money to meet obligations and add liquidity to the economy. In this exclusive interview with The Gold Report, he explains how that . . . → Read More: John Williams: Debt Limit Debate Sign of Deeper Dysfunction

Michael Berry: $1,600 Gold in Reach

Gold is once again hitting new highs, closing at $1,589/oz. on July 14. In this exclusive interview with The Gold Report, Dr. Michael Berry, principal of discoveryinvesting.com and editor of Morning Notes, predicts $1,700 gold by year-end and points to the juniors that could bask in the enhanced glow of all the metals, . . . → Read More: Michael Berry: $1,600 Gold in Reach

You Can Always Count On Politicians

To lie, that is:

President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.

“I cannot guarantee that those checks go out on August 3rd if we . . . → Read More: You Can Always Count On Politicians

Adam Michael: Base Stock Evaluation on $90 Oil

Platform Advisors Founder Adam Michael searches the globe for oil and gas discovery stories with established cash flows that support share value in reasonably secure political environments. In this exclusive interview with The Energy Report, Adam reveals some names from his own portfolio holdings that he believes could generate considerable upside production growth . . . → Read More: Adam Michael: Base Stock Evaluation on $90 Oil

Why Not?

It’s time to liquidate some assets:

“The United States may have run up a huge debt, but it is not a poor country…,” the Washington Post announced on Monday as Our Rulers hit their credit-limit. “The federal government owns roughly 650 million acres of land, close to a third of the nation’s total land . . . → Read More: Why Not?

Certainty and Promises

Why is this even being debated?

A split among economists over whether a debt ceiling vote should be tied to spending cuts highlights the risk of overconfidence, despite a consensus opinion in the latest Journal survey that the ceiling will be raised before an August deadline.

I’m not sure how to mention this, but . . . → Read More: Certainty and Promises