Fairy Tales of the Coming State of the Union: The Government Is Running Out Of Money

Why commercial real estate is still a gamble
The forecasts are rosy for the CRE market, but systemic headwinds still exist, making this a tough sector to bank on profits. Until recently, the smart money saw commercial Real Estate as the next asset class to do a number on The Economy. Now some believe it is turning into a feather in the recovery's cap. But every bet has its risks -- and in this case, better days may be farther into the future than many investors would like. The Bullish case for the commercial Real Estate market is that the...

Commercial real estate is still a gamble
Why commercial Real Estate is still a gamble January 3, 2011 2:04 pm The forecasts are rosy for the CRE market, but systemic headwinds still exist, making this a tough sector to bank on profits. By Kit R. Roane, contributor Until recently, the smart money saw commercial Real Estate as the next asset class to do a number on The Economy. Now some believe it is turning into a feather in the recovery's cap. But every bet has its risks -- and in this case, better days may be farther into the futu...

No Turkey Cold Enough
Get alerts when there is a new article that might interest you. Having recently praised Michele Bachmann, and remaining a fan in general, I think it appropriate to register disappointment at her embrace of a silly position. On several conservative websites, you'll find a web ad featuring her and promoting a petition: "Tell Congress, 'Don't Raise the Debt Ceiling.'" When you click on the ad, you'll read that Bachmann is asking us "to personally tell Congress not to increase the amount of money th...

National Debt Tops $14 Trillion For the First Time Ever
June 1st, the National Debt topped $13 Trillion for the first time, 7 months later, we're at $14 trillion Unsustainable...I just remember Nancy Pelosi saying 'no new Deficit spending' after the Dems took over in 2006 and Barack Obama was going to Washington in 2008 and end wasteful spending, start pay-as-you-go and was gonna go through the Federal Budget line by line...It was all lies, and we knew it at the time... cbsnews The latest posting today of the National Debt shows it has topped $14 tr...

Democrats to GOP: Time to Put up or Shut Up
Mike Kelly and Anthony Weiner square off on Face The Nation. (Credit: CBS) Welcome to 2011. Let the partisan bickering begin. Anyone wanting to know how newly empowered Republicans and newly minority-status House Democrats will behave should look no further than Sunday's "Face the Nation" here on CBS. It was a rousing debate between conservative stalwart Michele Bachmann (R-MN), freshman Republican Mike Kelly (R-PA), and Democrats Anthony Weiner (D-NY) and Debbie Wasserman Schultz (D-FL). D...

Deficit hawks' rallying cry: the 10th Amendment
WASHINGTON — Congress could easily get federal spending under control if it would simply follow the Constitution, Rep. Scott Garrett says. And spending on public education and local transportation projects are just two of the Unconstitutional programs Garrett cited when asked for examples. "I've asked this question to prior secretaries of education when they appeared before me in various committees, 'What is your Constitutional Authority to do what you're doing?' And they will simply say...

Taking Brazil's helm, Rousseff nods to Wall Street
By Brian Winter Sao Paulo | Mon Jan 3, 2011 7:35am EST Sao Paulo (Reuters) - President Dilma Rousseff kicked off her government on Monday with a series of market-friendly signals, including new details on Budget cuts and a report that she will turn to the Private Sector to help solve one of Brazil's biggest infrastructure bottlenecks. Rousseff is planning Budget cuts of up to 25 billion reais ($15 billion), slightly more than most investors had expected, to help rein in a recent burst in gove...

Eliminating Deficits: Is Taking a Balanced Approach the Right Approach?
This morning, the Strib does us a great service by offering a side-by-side comparison between the optimistic, can-do attitude of incoming Speaker Kurt Zellers and Minority Leader Paul Thissen’s whining op-ed . First a glimpse into Speaker Zellers’ op-ed: It is time to roll up our sleeves and work together to put Minnesota on a path toward renewed opportunities. The path begins with private-sector Job Creation. High taxes, mandates, and excessive and redundant Regulation are hobbling...

Inflation Nation: If you think economy's rough now, just wait ...
The signs are everywhere: In the midst of a brutal Recession, with Americans already burdened by sky-high Unemployment, Foreclosures and bankruptcies, shoppers are noticing disturbingly higher food prices. Indeed, a survey of Wal-Mart stores analyzing price movements in 86 products widely used by Americans reveals price Inflation to be twice the government's "official" rate. But that's just for starters. Indeed, much of the current price Inflation in commodities, including food – like whe...

Reason.tv: David Stockman on TARP, the Fed, Ron Paul and Reagan
At the very start of the “Reagan revolution,” David Stockman exposed the myth that Ronald Reagan and the modern Republican Party are dedicated to Small Government. In 1981, the 35-year-old Stockman gave up his Michigan seat in Congress to become Reagan’s Budget director. A vocal critic of what he continues to call the “welfare-warfare state,” Stockman had signed on because he believed in the Limited Government Rhetoric that Reagan espoused. Once inside the White H...

Ronald Reagan, Ron Paul, and the Fed: Q&A with David Stockman
At the very start of the "Reagan revolution," David Stockman exposed the myth that Ronald Reagan and the modern Republican Party are dedicated to Small Government. In 1981, the 35-year-old Stockman gave up his Michigan seat in Congress to become Reagan's Budget director. A vocal critic of what he continues to call the "welfare-warfare state," Stockman had signed on because he believed in the Limited Government Rhetoric that Reagan espoused. Once inside the White House, Stockman quickly became d...

Huckleberry Hound Lays Down The Law
GOP Sen. Lindsey Graham has decided to support holding the Debt ceiling vote hostage in March in order to get Social Security cuts. GRAHAM: This is an opportunity to make sure the government is changing its spending ways. I will not vote for the Debt ceiling increase until I see a plan in place that will deal with our long-term Debt obligations starting with Social Security, a real Bipartisan effort to make sure that Social Security stays solvent, adjusting the age, looking at means-tests for be...

DANIEL FOSTER: Why the Republicans Will Get a Lot in Exchange for Raising the Debt Ceiling.
DANIEL FOSTER: Why the Republicans Will Get a Lot in Exchange for Raising the Debt Ceiling. ...

Here's A Great Trade To Bet On Imminent Armageddon
On InTrade, the odds that the Congress passes the Debt ceiling hike by the end of February is down to a mere 20%. That's really low for something that the bond and Stock Markets are still taking for granted. Thus there should be a simple trade involving going long the InTrade contract, and short the stock market, which would probably take a major leg down in the event we didn't pass the Debt ceiling. You could do it with puts for leverage. You'd need to calibrate the trade, obviously, but assumi...

Anti-Israel Moonbats Protest During Obama Visit
Will Obama’s START Treaty be a non-Starter Courtesy of the Russian Duma? ZIP on 2006: Obama Strongly Against Raising Debt Ceiling. 2011: Top Economic Advisor Says It Would Be “Insanity” to Oppose it steven jeffries on 2006: Obama Strongly Against Raising Debt Ceiling. 2011: Top Economic Advisor Says It Would Be “Insanity” to Oppose it steven jeffries on 2006: Obama Strongly Against Raising Debt Ceiling. 2011: Top Economic Advisor Says It Would Be “In...

Republicans lay in wait for Obama
US President Barack Obama swaps serene Hawaii for the partisan hurly-burly of Washington on Tuesday, with empowered Republicans manoeuvring to strangle his Health Care law and stall his new momentum. Obama will return from holiday a day before Republicans formally take possession of the House of Representatives after their November mid-term election victory ushered in a new era of divided government in Washington. Enthused new conservative members of Congress are streaming to Washington convince...

VAT rate rises from 17.5% to 20%
The top rate of VAT has risen from 17.5% to its highest level of 20% as the government looks to boost Tax Revenues to cut the UK's Debt levels. Business groups have warned that Retailers will be hit by the increase, while opponents of the rise have said the poorest will be hit hardest. The government says the rise is necessary to help bring down the UK's high Budget Deficit. Food, Children's clothing, Newspapers and magazines are not subject to VAT. Research by the Centre for Reta...

BofA settlement with Fannie, Freddie "clears air"
Bank of America Corp. reached a $2.8 billion settlement with Fannie Mae and Freddie Mac over claims that one of its businesses sold bad Mortgages. The payment is far lower than analysts expected and removes some uncertainty that has hovered over the bank. The settlement is the biggest yet involving banks and the two government-backed mortgage giants, which continue to suffer huge losses from the collapse of the Housing Market. Analysts and investors have been waiting to see how hard a line Fanni...

BofA deal sends bank stocks soaring
Some New Year's resolutions pay off earlier than others. The newly cooperative Bank of America (BAC) set off a big bank stock rally Monday by resolving some worries about the cost of its bubble-era bad Lending antics. BofA agreed to a $2.8 billion settlement of Mortgage-repurchase claims by the government-sponsored housing companies Fannie Mae (FNMA) and Freddie Mac (FMCC). Shares of BofA, the nation's biggest lender by assets and the biggest mortgage servicer as well, rose 5% after t...

BofA settlement with Fannie, Freddie clears air
NEW YORK (AP) — Bank of America Corp. reached a $2.8 billion settlement with Fannie Mae and Freddie Mac over claims that one of its businesses sold bad Mortgages. The payment is far lower than analysts expected and removes some uncertainty that has hovered over the bank. The settlement is the biggest yet involving banks and the two government-backed mortgage giants, which continue to suffer huge losses from the collapse of the Housing Market. Analysts and investors have been waiting to see...

BofA settlement with Fannie, Freddie "clears air"
NEW YORK (AP) - Bank of America Corp. reached a $2.8 billion settlement with Fannie Mae and Freddie Mac over claims that one of its businesses sold bad Mortgages. The payment is far lower than analysts expected and removes some uncertainty that has hovered over the bank. The settlement is the biggest yet involving banks and the two government-backed mortgage giants, which continue to suffer huge losses from the collapse of the Housing Market. Analysts and investors have been waiting to see how ...

B of A move sends bank stocks soaring
BofA deal sends banks soaring Posted by Colin Barr January 3, 2011 11:42 am Some New Year's resolutions pay off earlier than others. The newly cooperative Bank of America (BAC) set off a big bank stock rally Monday by resolving some worries about the cost of its bubble-era bad Lending antics. A rare reversal BofA agreed to a $2.8 billion settlement of Mortgage-repurchase claims by the government-sponsored housing companies Fannie Mae (FNMA) and Freddie Mac (FMCC). Shares of BofA, the natio...

Outgoing Rep. Patrick Murphy joins Pennsylvania law firm
Outgoing Rep. Patrick Murphy (D-Penn.) has joined Fox Rothschild, according to a Press Release from the Law Firm. Murphy will be a partner in the litigation department, the firm announced Monday. He will work out of its Philadelphia and Warrington, Penn. offices. First elected in 2006, Murphy served two terms in the House. He lost his Reelection bid this past November to Republican Mike Fitzpatrick. Murphy served in the U.S. Army and was the first Iraq War Veteran elected to Congress.  He was...

Taking Brazil's helm, Rousseff nods to Wall Street
Sao Paulo (Reuters) - President Dilma Rousseff kicked off her government on Monday with a series of market-friendly signals, including a fresh commitment to Budget cuts and a report that she will turn to the Private Sector to help solve one of Brazil's biggest infrastructure bottlenecks. Rousseff, 63, wasted no time in addressing several issues that could threaten Brazil's remarkable run of prosperity, including a recent burst of Government Spending that has, in turn, fueled a potentially dange...

Britain set for rocky economic ride in 2011
An austere Tax Increase, huge cuts in state spending and rising Unemployment are all set to be unleashed on Britain in 2011, risking widespread strike action by disgruntled workers. The Conservative-Liberal coalition led by Prime Minister David Cameron insists on the need to tighten Government Spending to quickly slash the country's record public Deficit inherited from the previous administration. "The national interest dictates that we do the right thing, which is to act, not the easy thing, wh...