Treasury Secretly Exploring Options if Debt Ceiling Isnt Raised
Unnamed White House and U.S. Treasury sources told MoneyNews.com that options to handle the government’s debts in the event no debt ceiling deal is reached are being explored,...
About: Bob Adelmann
Posts by Bob Adelmann
FTC Probes Google in Fishing Expedition
Google announced on its blog on June 24th that the Federal Trade Commission had launched “a review of our business. We respect the FTC’s process and will be working...
China’s Paper Inflation Stimulus To End Badly
 Problem loans at China’s banks are significantly worse than initially thought, according to Moody’s Investors Service’s news release on July 4th. This raises concerns already expressed about China’s continued ability...
Greek Austerity to Be Enforced German-Style
Eurogroup President Jean-Claude Juncker said in an interview over the weekend that the austerity measures being imposed on Greece in exchange for additional bail-out funding from the IMF will...
Minnesota State Govt Shutdown: Precursor for Washington?
After weeks of negotiations between Democrat Governor Mark Dayton (left) and the Republican-dominated legislature, no resolution to Minnesota's $5 billion budget shortfall was reached and, except for some...
Internet Sales Tax Collection Gaining Momentum
When California Governor Jerry Brown (left) signed into law that state?s latest attempt to collect Internet sales taxes from retailers outside the state, he surely must have known...
Is the Debt Ceiling Unconstitutional?
If the current debt ceiling negotiations fail in time to avoid the drop-dead default date of August 2, liberal law professor Garrett Epps has the answer for President Obama: Ignore...
Lieberman’s Plan to Fix Medicare Just Kicks the Can Down the Road
Senator Joe Lieberman (I-Conn.) joined with Senator Tom Coburn (R-Okla.) on Tuesday in announcing their plan to reform Medicare before it goes “broke and take[s] our government down with...
IMF Wants US Debt Ceiling Raised Immediately
The June 20th report of the International Monetary Fund (IMF) to the United States strongly recommended that the debt ceiling be raised because “if the debt ceiling is not...
Austerity Measures: Greek Entitlement Mentality Faces Reality
The austerity measures being debated in the Greek parliament are being met with resistance not only by the opposition party but by those most directly affected: Greek workers. At...
Debt-limit Negotiations: A Game of Chicken Over Chicken Feed
When House Majority Leader Eric Cantor (R-Va.) announced he was leaving the negotiations over raising the debt limit on Thursday, he made it clear that he felt he was getting...
The Fed’s Projections Are Too Rosy, Again
The economic projections released by the Federal Reserve on Wednesday estimated that in less than two years the unemployment rate would be down to 7 to 7 ½ percent,...
McKinsey Report: Unemployment to Stay High for Ten Years
Even under the “high-job-growth” scenario offered by the McKinsey Global Institute (MGI), it will take ten years for the U.S. economy to generate the 21 million new jobs necessary...
Greek Debt Default All but Certain
During his interview with Charlie Rose on Bloomberg TV Monday night, Alan Greenspan, former chairman of the Federal Reserve, commented that the chances of Greece defaulting are “so high...
Beginning of the End for Ethanol Subsidies
 On Thursday the United States Senate voted to end the 45 cents-per-gallon subsidy currently supporting the ethanol industry. The bill, offered by liberal Senator Dianne Feinstein (D-Calif.) and conservative...
Lessons From Puerto Ricos Economy
 While the media was focusing on Governor Scott Walker’s difficulties with unions in Wisconsin, John Stossel said they missed a much larger and more important story about another...
Pentagon: Cyberattack an Act of War
Following up on the publication of the “International Strategy for Cyberspace” by the Obama administration last month, the Pentagon clarified and expanded upon its intention to consider a...
Bernanke: No Economic Recovery Yet; Diesel Index Confirms It
In what could be one of the understatements of 2011, Fed Chairman Ben Bernanke, speaking at the International Monetary Conference in Atlanta on Tuesday, remarked, “U.S. economic growth so...
The Federal Reserve Kids Page
In 2006 the Federal Reserve decided it was time to begin to reach out and influence middle schoolers with the party line about the Fed, and launched the Federal...
The Economy Also Weakens Obama’s Reelection Hopes
 The trickle of bad news about the economy has turned into a torrent, and is now threatening President Obama’s chances at reelection. On Wednesday the Institute for Supply...