ECB’s Stark: US Has an ‘Enormous’ Debt Problem

So much for Jeurgen’s legacy: US Has an ‘Enormous’ Debt Problem: ECB Official September 1 (CNBC) — A debt crisis is still gripping the developed world, European Central Bank policymaker Juergen Stark said, adding there was no alternative but for countries to take painful steps to consolidate their public finances. “The crisis is not over. […]

WSJ- Boehner pulls out of debt talks….

As previously discussed, the President is no longer involved, and if Congress does get a bill to his desk he’ll sign it. Grand Bargain Talks Collapse By Carol E Lee and Janet Hook July 22 (WSJ) — A high-stakes effort by President Barack Obama and House Speaker John Boehner to hatch a landmark deficit reduction […]

Rebate discussion comment

Lots of talk that rebates from Congress will be spent on imports and therefore not help US economy. Wrong! Yes, most spending will be on imports. But non residents are now spending their ‘hoard’ of $US financial assets on our goods and services (aka, US exports). If anything, the rebates will further reduce the desire […]