Showing posts with label fed. Show all posts
Showing posts with label fed. Show all posts
Thursday, January 7, 2010
Tuesday, November 24, 2009
FDIC Fund Sinks Into the Red
http://online.wsj.com/article/SB125907631604662501.html?mod=WSJ_hpp_MIDDLTopStories
The government insurance fund that protects more than $4.5 trillion of U.S. bank deposits slipped into the red at the end of September, after fifty banks collapsed during the third quarter.
The deposit insurance fund dropped by $18.6 billion during the third quarter of 2009 to negative $8.2 billion, as the Federal Deposit Insurance Corp. set aside $21.7 billion in provisions for additional bank failures. This is the second time in the agency's history that the balance has fallen into negative territory.
The government insurance fund that protects more than $4.5 trillion of U.S. bank deposits slipped into the red at the end of September, after fifty banks collapsed during the third quarter.
The deposit insurance fund dropped by $18.6 billion during the third quarter of 2009 to negative $8.2 billion, as the Federal Deposit Insurance Corp. set aside $21.7 billion in provisions for additional bank failures. This is the second time in the agency's history that the balance has fallen into negative territory.
Wave of Debt Payments Facing US Government
http://www.cnbc.com/id/34104722
Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.
In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.
Americans now have to climb out of two deep holes: as debt-loaded consumers, whose personal wealth sank along with housing and stock prices; and as taxpayers, whose government debt has almost doubled in the last two years alone, just as costs tied to benefits for retiring baby boomers are set to explode.
An increase of one percentage point in the Treasury’s average cost of borrowing would cost American taxpayers an extra $80 billion this year — about equal to the combined budgets of the Department of Energy and the Department of Education.
Treasury officials estimate that about 36 percent of the government’s marketable debt — about $1.6 trillion — is coming due in the months ahead.
Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.
In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.
Americans now have to climb out of two deep holes: as debt-loaded consumers, whose personal wealth sank along with housing and stock prices; and as taxpayers, whose government debt has almost doubled in the last two years alone, just as costs tied to benefits for retiring baby boomers are set to explode.
An increase of one percentage point in the Treasury’s average cost of borrowing would cost American taxpayers an extra $80 billion this year — about equal to the combined budgets of the Department of Energy and the Department of Education.
Treasury officials estimate that about 36 percent of the government’s marketable debt — about $1.6 trillion — is coming due in the months ahead.
Friday, October 23, 2009
Fed to Propose Bank-Pay Guidelines
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAM8enZGH8Gs
The news triggered debate about the government’s reach into private industry, whether pay reductions would spread to other companies and if a talent drain from U.S. firms would ensue.
Give it time...
The news triggered debate about the government’s reach into private industry, whether pay reductions would spread to other companies and if a talent drain from U.S. firms would ensue.
Give it time...
Friday, July 31, 2009
Dem Florida Congressman Alan Grayson Grills Ben Bernanke
http://www.youtube.com/watch?v=00ECLxK2YTs
Alan Grayson: "Which Foreigners Got the Fed’s half a trillion dollars? "
Bernanke: "I Don’t Know."
Alan Grayson: "Half a trillion dollars and you don't know who got the money?"
"$9 billion for New Zealand, that works out to $3000 for every single person that lives in New Zealand. Seriously, wouldn't it have been better to extend that kind of credit to Americans and not New Zealanders?"
Alan Grayson: "[The] US dollar nominal exchange rate [table]...shows a 20% increase in the US dollar nominal exchange rate at exactly the same time you were handing out a half trillion dollars. You think that's a coincidence?"
Bernanke: "YES"
Alan Grayson: "Which Foreigners Got the Fed’s half a trillion dollars? "
Bernanke: "I Don’t Know."
Alan Grayson: "Half a trillion dollars and you don't know who got the money?"
"$9 billion for New Zealand, that works out to $3000 for every single person that lives in New Zealand. Seriously, wouldn't it have been better to extend that kind of credit to Americans and not New Zealanders?"
Alan Grayson: "[The] US dollar nominal exchange rate [table]...shows a 20% increase in the US dollar nominal exchange rate at exactly the same time you were handing out a half trillion dollars. You think that's a coincidence?"
Bernanke: "YES"
Monday, July 6, 2009
Ron Paul Strikes Gold
http://www.thebigmoney.com/articles/mothers-milk/2009/07/02/ron-paul-strikes-gold?page=0%2C0
They only listen when it is politically correct to do so. How about do that right thing when it isn't popular, that'll show some meddle.
Monday, June 8, 2009
Big Government Spending Programs to Revive Housing Market are Having the Opposite Effect
http://apnews.myway.com/article/20090606/D98L67500.html
"All this means that even though mortgage rates are still low by historical standards, many of the trends that seem to be pointing to economic recovery in recent months could be undone fast."
DUH!
"All this means that even though mortgage rates are still low by historical standards, many of the trends that seem to be pointing to economic recovery in recent months could be undone fast."
DUH!
Friday, March 20, 2009
Glenn Beck: Last Line of Defense
http://www.glennbeck.com/content/articles/article/198/22954/
Ok, so we are robbing Peter to pay...Peter, got it!
Note:
Glenn mentioned Zimbabwe as a case study for inflation. I found this informative, but rather long study called "A Decade of Suffering in Zimbabwe" done by the Cato Institute so you know it's good. Truthfully, I just skimmed it, but when I have more time I'd like to read it more in depth. For those of you that are interested:
http://www.cato.org/pubs/dpa/dpa5.pdf
Ok, so we are robbing Peter to pay...Peter, got it!
Note:
Glenn mentioned Zimbabwe as a case study for inflation. I found this informative, but rather long study called "A Decade of Suffering in Zimbabwe" done by the Cato Institute so you know it's good. Truthfully, I just skimmed it, but when I have more time I'd like to read it more in depth. For those of you that are interested:
http://www.cato.org/pubs/dpa/dpa5.pdf
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