US Must Address Debt, Warns Debt Commission
President Obama’s bi-partisan debt commission gave a preliminary read out of the nation’s fiscal situation today. There was nothing earth shattering about the conclusion. The prognosis from co-chair Erskine Bowles is that current trends will destroy the country from within. I think Bowles is actually a bit off on that one as the holders of … Continue reading
Is a debt crisis coming to your neighborhood?
An excellent article here on a possible US debt crisis coming to your neighborhood in the future. The chart above is a projection of interest payments on the national debt over the next decade. They’re projected to grow to such an extent that they’ll constitute a large percentage of all annual spending. This chart was … Continue reading
Obama’s Budget Proposal
Now here comes the challenging part. No, I’m not talking about the challenges around Obama’s budget, but about the challenge of keeping this blogging hobby of mine up while going into tax season. This ought to be interesting. Of course, my personal challenges pale beside the challenges of our nation as reflected in Obama’s budget … Continue reading
The Real Story Behind the Great Recession: Debt
A Zimbabwean man carrying money to purchase something. The annual rate of inflation in Zimbabwe is 100,000% Above all else, the level of debt is the biggest problem behind the economic malaise we find ourselves in. The debt problems are everywhere—mortgages, government debt, credit cards, auto loans and etc. The basic problem is that … Continue reading
FINANCIAL ARMAGEDDON?
Here’s a video from CNBC featuring investment guru Julian Robertson. He has an interesting take on the US debt situation. Generally, I find that economic issues and politics are very closely linked. Unfortunately, for most of the American public, this is the sort of thing that makes eyes glaze over, however, the economic situation is … Continue reading
The African-American Clarion Call 