Debtor Nation

Your Dollar—up to no Good

In case you didn’t stay up all night watching the spectacle, and tearing out your hair: Your very own… … your favorite one, the one you worked so hard to earn and even harder to save, yes, the ever shrinking one, well, it dropped to a new all-time low against the Japanese yen in Tokyo. And…

We Should Give them a Calculator

The raw numbers are ugly. The federal budget deficit is nearly 40% of total spending; that is, for every $1,000 the government spends, it collects $600 in taxes and borrows $400. Doesn’t anyone do any math in Washington?

Your Dollar

…is falling off a cliff again, hitting ¥78 and €0.69. You can sit idly by and watch it get demolished, or you can do something about it.

A Modest Proposal

What galls me the most in this entire imbroglio of our debt ceiling is the hypocritical approach of our politicians: A Congress that authorizes every dollar that gets spent, gleefully accumulating a pile of debt so vast it’s hard to wrap your brains around it; and administrations who have been eager to borrow and spend as directed by Congress.

Night of the Living Debt

The worldwide night of the living debt continues with Greece, Italy, and the US. And so I mention them, nasty as I am, in the same breath with Japan.

Debt-Ceiling Pissing Match Seen from a Safe Distance

While Democrats and Republicans, jointly and severally, engage in an all-out pissing match over the national debt ceiling and the budget deficit that even has the Chinese worried, let’s take a moment and reflect from a safe distance on how we got here, and why nothing of significance is going to change.