Well it may be on the way. Mr. Blinder, a Princeton professor seems to have been the first to suggest we need it. He told his Bloomberg host the "US needs "somewhat more" fiscal stimulus once again in order to boost employment". In other words, keep the presses rolling until the unemployment number gets better. Apparently he wrote an article titled How We Ended The Great Recession back in July 2010.
Saturday, May 14, 2011
Wednesday, May 11, 2011
US Debt Limit Reached
By Jeffrey Sparshott and Jeff Bater, Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The Treasury Department auctioned $56 billion in new debt Tuesday and Wednesday, enough to take the U.S. over its federal debt ceiling when the three- and 10-year notes settle on Monday.
Treasury officials last month flagged May 16 as the day the government would hit the $14.294 trillion debt limit.
The U.S. is selling $72 billion in new debt over three days this week. The Treasury auctioned $32 billion in three-year notes Tuesday and $24 billion in 10-year notes Wednesday, and will sell $16 billion in 30-year bonds Thursday. All of the auctions will settle Monday.
As of Tuesday, total debt subject to the limit was $14.274 trillion, according to the Treasury Department.
The Obama administration has asked Congress to raise the limit, warning that failure to act could lead the government to default by Aug. 2--and could spook investors even before then.
House Speaker John Boehner (R., Ohio) said Monday that any increase in the government's debt limit should be accompanied by trillions of dollars in spending cuts.
"It's true that allowing America to default would be irresponsible. But it would be more irresponsible to raise the debt limit without simultaneously taking dramatic steps to reduce spending and to reform the budget process," he said.
The federal budget deficit widened in April, with the government spending $ 40.49 billion more than it collected last month, a Treasury Department report said Wednesday.
The deficit was the 31st monthly shortfall in a row. With seven months of fiscal 2011 elapsed, the government has spent $869.90 billion more than it has collected.
Even the most aggressive plans wouldn't wipe out budget deficits for years, meaning that debt will continue to mount.
-By Jeffrey Sparshott, Dow Jones Newswires; 202-862-9291; jeffrey.sparshott@ dowjones.com
http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201105111542dowjonesdjonline000477&title=treasury-auctions-to-take-us-over-debt-ceiling-on-monday
The highlighted sentances just about says it all!
Treasury Auctions To Take US Over Debt Ceiling On Monday
WASHINGTON -(Dow Jones)- The Treasury Department auctioned $56 billion in new debt Tuesday and Wednesday, enough to take the U.S. over its federal debt ceiling when the three- and 10-year notes settle on Monday.
Treasury officials last month flagged May 16 as the day the government would hit the $14.294 trillion debt limit.
The U.S. is selling $72 billion in new debt over three days this week. The Treasury auctioned $32 billion in three-year notes Tuesday and $24 billion in 10-year notes Wednesday, and will sell $16 billion in 30-year bonds Thursday. All of the auctions will settle Monday.
As of Tuesday, total debt subject to the limit was $14.274 trillion, according to the Treasury Department.
The Obama administration has asked Congress to raise the limit, warning that failure to act could lead the government to default by Aug. 2--and could spook investors even before then.
House Speaker John Boehner (R., Ohio) said Monday that any increase in the government's debt limit should be accompanied by trillions of dollars in spending cuts.
"It's true that allowing America to default would be irresponsible. But it would be more irresponsible to raise the debt limit without simultaneously taking dramatic steps to reduce spending and to reform the budget process," he said.
The federal budget deficit widened in April, with the government spending $ 40.49 billion more than it collected last month, a Treasury Department report said Wednesday.
The deficit was the 31st monthly shortfall in a row. With seven months of fiscal 2011 elapsed, the government has spent $869.90 billion more than it has collected.
Even the most aggressive plans wouldn't wipe out budget deficits for years, meaning that debt will continue to mount.
-By Jeffrey Sparshott, Dow Jones Newswires; 202-862-9291; jeffrey.sparshott@ dowjones.com
Tuesday, May 10, 2011
Watch Your IRA, 401K Plans
The government has talked about taking over your 401k in the past. You say it can't be done? Of course it can, in fact it has been done in other countries, and, well it seems to be happening in Ireland.
Here is the announcement from the Treasury Department for the meeting held last September. Here is the agenda, so you can see who the speakers were.
Has it been done before now, well glad you asked. It was done in Argentina! Remember Argentina was once the second largest economy in Central America and if I'm not mistaken was in the top five economies in the world at one time.
Watch your money close. You may wish to put your money into something tangible and keep it under your mattress.
Here is the announcement from the Treasury Department for the meeting held last September. Here is the agenda, so you can see who the speakers were.
Has it been done before now, well glad you asked. It was done in Argentina! Remember Argentina was once the second largest economy in Central America and if I'm not mistaken was in the top five economies in the world at one time.
Watch your money close. You may wish to put your money into something tangible and keep it under your mattress.
Saturday, May 7, 2011
Watch The Dollar Index (USDI)
There are many numbers you should be watching nowdays. Many of the MSM talking heads just want you to watch one or two and those would be the DOW and NASDAQ. They rarely tell you what GOLD, SILVER or the USDI are. The USDI recently was flirting with a historic number, that is 72. We need to be watching this number closely.
This will tell you what some are thinking.
This will tell you what some are thinking.
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