On Wednesday, the temporary suspension of the debt ceiling ended, and so now the federal government is not going to be able to go into any more debt until the debt ceiling is raised. For the moment, the Trump administration can implement “emergency measures” to stay under the debt limit, but it won’t be too long before we get to a major crisis point because the federal government is quickly running out of cash. Already, the U.S. Treasury has less cash on hand than Apple or Google, and that cash balance is going to keep on dropping until the debt ceiling is finally lifted.
You may remember that the debt ceiling became a major issue a couple of times during the Obama years. Last time around, Barack Obama and the Republicans in Congress agreed to a horrendous deal which suspended the debt ceiling until several months after the 2016 election…
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Has the Federal Reserve gone completely insane? On Wednesday, the Fed raised interest rates for the second time in three months, and it signaled that more rate hikes are coming in the months ahead. When the Federal Reserve lowers interest rates, it becomes less expensive to borrow money and that tends to stimulate more economic activity. But when the Federal Reserve raises rates , that makes it more expensive to borrow money and that tends to slow down economic activity. So why in the world is the Fed raising rates when the U.S. economy is already showing signs of slowing down dramatically? The following are 12 reasons why the Federal Reserve may have just made the biggest economic mistake since the last financial crisis…
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As far as Big Brother is concerned, nothing that you do on your cell phone is ever private. And if the government really wants to see what is on your cell phone, they are going to get that information one way or another, even if that means resorting to physical violence. On Monday, NBC News provided us with yet another glaring example of how the United States is being transformed into a Big Brother police state. On January 1st, Akram Shibly and Kelly McCormick from Buffalo, New York were coming back home from a trip to Toronto, and they didn’t anticipate any unusual problems when they got to the border. Unfortunately for them, U.S. Customs & Border Protection agents decided to take their cell phones, demanded their passwords, and kept them in custody for the next two hours as they searched for anything that might be incriminating on those phones.
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Most Americans do not understand this, but the truth is that the Federal Reserve has far more power over the U.S. economy than anyone else does, and that includes Donald Trump. Politicians tend to get the credit or the blame for how the economy is performing, but in reality it is an unelected, unaccountable panel of central bankers that is running the show, and until something is done about the Fed our long-term economic problems will never be fixed. For an extended analysis of this point, please see this article. In this piece, I am going to explain why the Federal Reserve is currently setting the stage for a recession, a new housing crisis and a stock market crash, and if those things happen unfortunately it will be Donald Trump that will primarily get the blame.
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According to the International Monetary Fund, global debt has grown to a staggering grand total of 152 trillion dollars. Other estimates put that figure closer to 200 trillion dollars, but for the purposes of this article let’s use the more conservative number. If you take 152 trillion dollars and divide it by the seven billion people living on the planet, you get $21,714, which would be the share of that debt for every man, woman and child in the world if it was divided up equally.
So if you have a family of four, your family’s share of the global debt load would be $86,856.
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Iran just conducted another provocative missile test, more U.S. troops are being sent to the Middle East, it was just announced that the U.S. military will be sending B-1 and B-52 bombers to South Korea in response to North Korea firing four missiles into the seas near Japan, and China is absolutely livid that a U.S. carrier group just sailed through contested waters in the South China Sea. We have entered a season where leaders all over the globe feel a need to rattle their sabers, and many fear that this could be leading us to war. In particular, Donald Trump is going to be under the microscope in the days ahead as other world leaders test his resolve. Will Trump be able to show that he is tough without going over the edge and starting an actual conflict?
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It has been said that “as California goes, so goes the nation”. That is why it is such a shame what is happening to that once great state. At one time, California seemed to be the epicenter of the American Dream. Featuring some of the most beautiful natural landscapes in the entire world, the gorgeous weather and booming economy of the state inspired people from all over the world to move to the state. But now people are moving out of the state by the millions, because life in California has literally become a nightmare for so many people.
I certainly don’t have anything against the state personally. My brother and sister were both born there, and I spent a number of my childhood years in stunning northern California. When I was younger I would sometimes dream of getting a place on the coast eventually, but for reasons I will discuss below I no longer think that would be advisable.
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