Why Is Gold Over $1700 an Ounce?
With gold bouncing up from $1,668 an ounce on Friday, August 5 to $1,778 on Tuesday, August 9, it was the biggest three-day rally since the start of the...
About: Bob Adelmann
Posts by Bob Adelmann
Standard and Poors Extends, Defends and Explains Its Downgrade
In a series of expected additional press releases, the Standard & Poor’s credit rating agency is expanding its downgrade of debt securities tied to the now-lower-rated sovereign debt of...
Physician Sentenced to 20 Years for Medicare Fraud
The case brought by the Department of Justice against Dr. Rene de los Rios of Miami, Florida, succeeded not only in sending the physician to jail for 20 years...
S&P Downgrade: Does It Portend a Death Spiral?
Standard and Poor’s was blunt in its assessment of America’s deteriorating financial condition when it announced Friday night that it was cutting its credit rating on United States’ Treasury...
Corzine to Replace Geithner as Treasury Secretary?
Despite protestations from Jon Corzine (left), former New Jersey governor, that he has no interest in taking Treasury Secretary Timothy Geithner?s place if Geithner decides to step down, Corzine...
U.S. Credit Rating Still at Risk
Moody’s announcement on Tuesday that it would retain its AAA rating of U.S. government sovereign debt as a result of the debt-limit agreement came with a warning: The government...
Debt-limit Deals Trojan Horse: The Special Committee of 12
The debt ceiling is to rise initially by $900 billion under the Revised Budget Control Act of 2011. And then, the debt limit is to rise again by either...
Tea Party Defectors Targeted
The Tea Party is upset with at least four House members who rode to victory in November of 2008 on promises of cutting government spending and then changed sides...
Debt Ceiling Crisis: Putting Things Into Perspective
The compromise bill that emerged Sunday night from behind closed doors is being loudly trumpeted in an attempt to persuade recalcitrant conservatives in both houses to vote for something...
County in Alabama is Bankrupt, Just Like the U.S.
At the very last minute, county commissioners in Jefferson County, home to the metropolis of Birmingham, Alabama, decided to postpone a final decision on whether or not to declare...
Boehner Delays Debt-Limit Vote, Lacking Support
House Speaker John Boehner’s last-minute “pep talk” to his Republican caucus early Thursday morning failed to turn the tide of Tea Partier “nays” to “yeas,” and the...
Obama Battles Increasing Odds for Reelection
The latest poll by the Washington Post-ABC News, published last week, provided one more indication of President Obama’s increasing difficulties in generating support for his reelection campaign. When 1,001...
Presidential Candidate Ron Paul’s “Extremism”
Claiming that presidential candidate Ron Paul leads the “economic suicide wing” of the Republican Party, Brent Budowsky, writing for The Hill, says that Paul is the “worst possible role...
The Real Impact of a U.S. Debt Downgrade
When Standard and Poor’s moved up their timeframe for a downgrade on U.S. sovereign debt from three to five years to just 90 days, Dave Beers, Director of the...
Debt Ceiling Talks: from Disagreement to Impasse to Crisis
House Speaker John Boehner walked away Friday from debt ceiling negotiations with President Obama, saying that the White House had “moved the goalposts” in their weeks-long effort to come...