John Boehner

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Three days ago, Speaker of the House, John Boehner told a gathering of economists that he wouldn’t agree to a debt limit increase without TRILLIONS of dollars in federal spending cuts.

This sounds good.  Well, a good start.

There are many who believe there is no good reason to raise the debt limit at all.  That to stop the debt right where it is is the best way to start on the road to fiscal sanity.

I have no credentials as an economist.  But it seems that no one can get around the basic idea that income MUST at least match outflow to remain solvent.  If the debt ceiling is constantly being raised, that prospect seems further off.

So, I applaud Mr. Boehner’s leadership.  However, very very soon, their must be no more increase to the debt.  Tax rates must NOT increase until the waste, fraud and duplication in federal spending is weeded out.  There IS a revenue problem.  But it must be solved with growth and federal spending, as the last two plus years demonstrates, does NOT cause economic growth.


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President Barack Obama speaks to a joint sessi...

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A good friend of mine forwarded this to me and I wanted to share it with all of you.


Politicians are the only people in the world who create problems and then campaign against them.

United States consumer Confidence 1978-2010 fr...

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I’ve  been watching the oil market for the last several weeks with great unease.   Over the last few days it seemed to be stalling out at $115.oo/barrel.  To my delight today it fell below $100.00/barrel!

Later I found out that oil fell because of all the bad economic news.  Consumer confidence and spending is down, unemployment claims are up.  So, all of a sudden the traders felt like they didn’t want to hang on to their oil futures any more.

Well, I think there is more to the story here.   Read the rest of this entry »

The bar chart presented on the National Debt A...

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While the take down of Osama Bin Laden absorbs most of our collective media and personal attention a perhaps more urgent battle looms than the continuing “war on terror.”

Soon, congress will be faced again with the “necessity” to raise the debt limit to avoid financial default.  While the consequences of default are real and perhaps really unpleasant, the runaway debt and spending of the federal government is a much greater, more devastating danger.
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Currently enjoying the company of 72 virgins.

There is much speculation on the real impact of Bin Laden‘s death. How will Al Qaeda manage without him? Will current plots stall or be sped up? Will budding terrorists be inspired or deflated? Who knows?

The answer is probably YES! Any which way an individual or organization could react will happen somewhere by someone. These are events out of our control.
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As our economy and the world at large spins a little further out of control, I like to inject a little humor into the scene. Below is a joke a friend of mine sent to me. Enjoy!

“A farmer named Sid was overseeing his stock in a remote moorland pasture in North Yorkshire when suddenly a brand-new BMW advanced toward him out of a cloud of dust.
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Donald Trump enters the Oscar De LA Renta Fash...

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The most colorful personage to appear on the political scene in decades is quite obviously Donald Trump.   The Donald has been making A LOT of noise recently about a run for the presidency and maybe more importantly, why the Obama presidency is failing.

I’ve never been a big fan of  “The Donald,” however, I find myself listening intently when he speaks of our relations with China, OPEC and the world at large.
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Destroying freedom for over 100 years!

To no one’s surprise president Obama announced that he will run for reelection in 2012.  After nearly three years is there anyone who would deny that our president is a radical socialist?  I for one am convinced that he IS.

Here is an analysis by Glenn Beck of Obama’s own words which demonstrates the man’s ideology. Read the rest of this entry »

Percentage of global currency reserves held in...

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The relentless devaluation of our dollar will eventually lead to the loss of 0ur currency‘s status as the world’s reserve currency.  Hyperinflation will rob each of us of any sense of security or a prosperous future. Read the rest of this entry »

Organization of the Federal Reserve System

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Article 1, Section 8 of the U.S. Constitution charges Congress with the responsibility “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.” Read the rest of this entry »