pensions

Michael Hudson argues that President Obama says one thing, and he does the opposite. Here’s basically the charade that’s happening when he’s trying to be reasonable. In order for him to move way to the right and to continue the Bush…

The larger question is the economy. If it improves from here, the President gets re-elected. If the debt ceiling and budget cut debates tank the economy, the Republicans will get the blame and Obama wins too. If the economy sours without a…

Michael Tanner is a Cato Institute Senior Fellow and L. Randall Wray is Professor of Economics, University of Missouri, Kansas City. The two discussed opposing views on how to deal with the U.S. federal deficit in a radio interview…

You normally don't see these two phrases in a single headline, but they are very much connecting. I thought of this this morning when I read a post called Retirement in the Liquidity Trap by Tim Duy. Commenting on a Wall Street Journal…

There are four ways to reduce real debt burdens: by paying down debts via accumulated savings. by inflating away the value of money. by reneging in part or full on the promise to repay by defaulting by…

The pension costs of states and municipalities in years hence are often stated in a calculation of future liabilities. For instance, the future obligations of state and municipal pension funds are calculated (in frequently cited studies) at…

I don't think people realize that the Chinese have just made a rather sizable shift in economic policy. The Chinese are moving on multiple fronts now toward a new economic paradigm that includes slower growth but more domestic consumption.…

David Stockman was on Bloomberg yesterday reviewing the Obama 2011 Budget proposal. His view dovetails with the view on the budget I presented yesterday, when I said: The key, however, is that no one actually wants to cut the items in…

I was on the BBC this morning talking about the Obama FY 2012 budget proposal. Here's what I said and what I think about the proposal so far (If I get the video, I will post). This post will be more about the political tactics and…

Bill Gross is at it again. The bond king who has taken a populist turn is out with another monthly investment commentary that features a negative view of Wall Street (God's work) and Federal Reserve monetary policy. I want to hone in on the…