Monthly Archives: November 2010

Further attempts at intervention have only increased the magnitude of the problems with sovereign debt. He says, “Now you have a bunch of super sovereigns— the IMF, the EU, the eurozone—bailing out these sovereigns.” Essentially, the super-sovereigns underwrite sovereign debt—increasing … Continue reading →

Economist Gary Shilling says the middle class needs a reality check now that the ability to borrow is in systemic decline. Realistic adjustments to spending and our sense of necessities as well as career retraining are the way to recovery.

“This could actually benefit the President, if the Republicans insist all or none,” says Tax Notes columnist and Pulitzer-Prize winning journalist David Cay Johnston. There have only been 4 balanced budget years in the US over the last 50 years. … Continue reading →