Steadfast FinancesSteadfast Finances - National Debt
3 August 2011

Fake Prosperity: U.S. National Debt Growth vs. GDP Growth

If you’re a member of Gen X and Gen Y, this is probably the scariest chart you will see in 2011, and possibly, right up to the time you’re old and gray. As you can clearly see, the crony capitalism, fake prosperity, recycled Keynesianism memes et al., have been a great benefit to the U.S. economy… right [...]

17 July 2011

The Hypocrisy of the Republican Debt Ceiling Debate

US Government Spending: Why the Republican Argument of “Obama is a Keynesian” Doesn’t Hold Water. ~ ~ ~ Being an idealist, I’m easily repulsed from any person/organization that I lose respect for. Case in point, the reason why I said goodbye to the Grand Old Party was because they’ve completely gone off the deep end [...]

28 February 2011

Michael Lewis on GPS: A Remarkable Return to ‘Normalcy’

 Financial Crisis         No comments

Well said by Michael Lewis on Fareed Zakaria’s GPS… If you had told me in early 2009 that all these big Wall Street firms would be back even bigger and paying big bonuses and essentially socializing their losses but their gains privatized and that the American people put up with it — that’s the incredible [...]

18 February 2011

Just How Far In Debt is the USA?

Fairly sobering stuff when forced to visualize the amount of money we don’t have to cover the promises we’ve already made. Guess no one told the “fiscal conservatives” in Congress that it would take the entire world’s GDP plus a few trillion more to meet our total debt and unfunded obligations. (Might help to disengage [...]

11 February 2011

Post Financial Crisis Retracements: Buy & Hold Investors Making Their Money Back

In 2007, the financial crisis and impending stock market crash was nothing but a bearish prognostication. To the chagrin of many, once the stock market was in total free fall, the Feds stepped in with tons upon tons of money to prop up the market, sell billions of dollars in USTs on a weekly basis, [...]

16 January 2011

Let Them Eat Credit: Debt as the ‘Pacifier’ of Income Inequality

Fascinating interview from NPR’s Deep Reads with Raghu Rajan, University of Chicago professor, former chief economist for the IMF, and author of Fault Lines: How Hidden Fractures Still Threaten the World Economy, and the cold shoulders he received after predicting the financial crisis in 2005 at a conference where the main objective was to praise [...]

23 December 2010

Communists Bailing Out Capitalists

This sort of irony is just too good to make up… Fresh humiliation for Eurozone as China says it will bail out debt-ridden nations China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7 trillion overseas investment fund. In a fresh humiliation for Europe, Foreign Ministry spokesman [...]

15 December 2010

30 Year History Lesson: National Debt Up 14 fold, Economy Up Only 3-4 Fold

 Politics,Taxes         No comments

Sobering words from David Stockman, former Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan. (FYI, this guy is widely considered one of the major, if not the major, architects of Reaganomics.) In 1981 the national debt was $1 trillion. Today, national debt it is $14 trillion. The economy in the [...]

6 December 2010

American Demosclerosis: Borrow & Spend the New American Way

 Politics,Taxes         2 comments

Call me a cynic, but if ever there is a better example of how demosclerotic the “greatest country in the history of the world” [via Mitt Romney] really is… Top senators from both parties indicated Sunday that a deal was likely soon on temporarily extending Bush-era tax cuts for all Americans, along with unemployment benefits [...]

3 December 2010

Simpson-Bowles Deficit Commission Summation: The Greediest Generation

 Politics,Taxes         3 comments

Any young person better start paying attention. This may not be the greatest generation, it might be the greediest generation. Sober up, or sleep in the streets. – Alan Simpson and Erskine Bowles, Bipartisan Deficit Commission A funny thing happens when you give people money, perks and benefits… once you give it to them, they [...]

18 November 2010

Everyone’s a Deficit Hawk, Until it Affects Their Wallet

 Politics         No comments

In today’s latest political hypocrisy gaffe, the majority of Americans voted Republicans into House of Representatives and kicked out spendthrift Democrats because deficit reduction was, and still is, a stellar idea. Of course, being a deficit hawk is a great rallying cry, but when it comes down to slashing programs and actually doing some good, [...]

25 October 2010

Reversion to the Mean: Real Estate to Fall Another 20 Percent

Lots of people are making big bets, even betting with borrowed money at risk to their personal credit report (e.g. taking out a home loan on investment properties), on the long term direction of the real estate market. Real estate is always influenced by local trends, but on a macro scale, the pro-appreciation arguments are [...]

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