Moody’s issues update on the outlook for the US government’s debt rating:...
The following press release was issued by Moody’s Investors Service earlier today regarding the United States. New York, September 11, 2012 — Budget negotiations during the 2013 Congressional...
View ArticleMore on government tax coercion versus fiat money liberty
I was on RT’s Capital Account on Friday night talking to Lauren Lyster about QE and the conversation moved more into the realm of fiat currency and government’s coercive taxing power. This is...
View ArticleWe should expect at least a Fiscal Clifflet for the US
[Content protected for Gold members only] In my view, that puts the US and the global economy in serious danger of recession. So, the politics of austerity and fiscal deficits are very much on display...
View ArticleSince Romney’s tax plan is “mathematically impossible”, a President Romney...
Josh Barro has written a very comprehensive post at Bloomberg analsying Mitt Romney’s tax plan. His conclusion is that the plan is mathematically impossible, leading one to assume that a President...
View ArticleThe US election and the fiscal cliff
The election is now over and it’s time to think about what is to come. The most pressing political concern is the so-called fiscal cliff that has resulted from a budget deal Washington’s politicians...
View ArticleForecasting for the Post-Election Economy and a Post-Bernanke Federal Reserve
Just a quick note here – I was on Capital Account last night talking about what I expect to happen politically next year. I spelled out some of it in my last post on the US election and the Fiscal...
View ArticleClik here to view.
Chart of the day: US deficit reduction 2009-2012
By Marc Chandler This Great Graphic that shows that deficit reduction in the US over the past three years is largest in more than 60 years. I found it at the Investor’s Business Daily, which of...
View ArticleThe Deficit Did Not Cause The Recession; The Recession Caused The Deficit
Editor’s note: Also see The US election and the fiscal cliff By Comstock Partners Both Wall Street and Washington have lost sight of the major cause of the deep recession and exceedingly slow economic...
View ArticleJapan’s prime minister threatens to unify monetary and fiscal policy
Greetings to you all on Christmas Eve. I think the big deal today is not America or Europe, but Japan. The incoming Japanese Prime Minister is threatening to strip the Bank of Japan, the central bank,...
View ArticleMore on the move to a consolidated fiscal and monetary policy
The weekly post on Monday was on the new Japanese LDP Prime Minister Abe’s threat to strip the Bank of Japan of its independence as a central bank. The thrust of his threat goes to the integration of...
View ArticleThe fiscal cliff deal still means US taxes are going to rise
Happy New Year! Last night I was on BBC World News and BBC Radio talking about the fiscal cliff. I stressed the fact that the deal being worked out in Washington will still see a hefty rise in taxes...
View ArticleOn Japan, Stimulus, Currency Depreciation and Inflation
I have heard a lot of doomsday predictions regarding Japan over the last twenty years. None of them have panned out as yet. This year, we are hearing a lot more as a result of the Japanese Central...
View ArticleMore on Abenomics: Japan’s Thermidor
By Marc Chandler The ascent of the Democratic Party of Japan marked the end of Japan’s one-party state, dominated by the Liberal Democratic Party since the 1955. However, the DPJ was unable to address...
View ArticleAustralian residential property sales drying up
MacroBusiness, an Australian economics blog, alerted me to the fact that the Australian property market is seeing transaction volume fall. They quote preliminary sales data for 2012 from the Real...
View ArticleGerman industrial output for Q4 2012 likely below Q3 output
Today the Wall Street Journal is reporting that German industrial output for the 4th quarter of 2012 likely fell below the output for the 3rd quarter, making it possible that Germany could lapse into...
View ArticleWhy a US government shutdown is likely
Yesterday, I wrote why a US fiscal standoff should mean recession in Q2. As an adjunct to that, I wanted to add a few words about the political process on how we get the standoff to a government...
View ArticleHaving raised taxes and the debt ceiling, US Republicans have another test on...
As I have been predicting since the beginning of the year, I believe the Republicans will be able to force through some form of austerity before the budget battles in Washington are over this quarter....
View ArticleEmployment situation summary puts US cycle peak at June 2012
As you may have heard already, the jobs numbers for the US came out and they confirmed that the US private sector continues to create 150-200,000 new jobs each month. This is consistent with moderate...
View ArticleFrance’s poor economic outlook is Europe’s next problem
In November, soon after France and Belgium were forced to pump another 5.5 billion euros into bailed out lender Dexia, the ratings agency Moody’s stripped France of its AAA sovereign debt rating. The...
View ArticleFrance: The Coming Push
By Marc Chandler Many investors understandably have not focused on France. The threat of scandal in Spain, the need for yet another round of government support for Italy’s third largest bank and the...
View Article
