Category: Bailout Nation

April 15, 2016 Category: Bailout Nation

Are You Prepared for a Bank Bail-In?

The big banks are preparing to feast upon the richest nations… including the bankrupt U.S.

October 8, 2011 Category: Bailout Nation

Bank of England: This is the Worst Financial Crisis… Ever

The Governor of the Bank of England says that we are in the worst financial crisis ever. We hate to say it but we actually agree with a central banker right now.

July 13, 2011 Category: Bailout Nation

Want to Understand the Madness in Washington? Look at the Incentives

Washington continues to fail on a debt deal. The simple goal for Washington right now is to pass a deal that will reduce the deficit. Washington leaders only have one incentive: re-election.

July 1, 2011 Category: Bailout Nation

Debt Increased More Under Geithner Than Under Any Treasury Secretary in U.S. History

Editor’s Note: Few leaders in Washington have had as much of a direct role in attempting to control the U.S. economy and the financial markets than U.S. Treasury Secretary, Timothy Geithner. This week, there have been growing reports of Geithner’s desire to exit the Treasury. He has already moved his family out of the Beltway and back to New York. And who can blame him? He is at the epicenter of the worst economic crisis in recent memory and the pressure must be immense. And as we head into 2012 (think election year), there is little doubt that the White House will expect him to maintain his economic sleight of hand. The statistics below are just the warm-up as we head into 2012… And Geithner knows this more than anyone.

May 2, 2011 Category: Bailout Nation

Guest Editorial: My 401k Dilemma

In 2008, our country went through a major financial meltdown. I stood there and watched 17 years of savings diminish. Half of my 401k was gone and my retirement plans went out the window. In September of 2008, I stopped my 401k contributions. I realized that some other plan was needed. As long as people in Washington are salivating over my retirement accounts, I will not contribute one more dime! I would rather buy silver, gold, and other commodities. I would rather be in control of my own retirement. The last thing I want to do is to depend on the government for anything.

April 17, 2011 Category: Bailout Nation

Jerry Robinson Interviewed About U.S. Economy on Iranian State TV

FTMDaily.com Founder, Jerry Robinson, was recently interviewed about the state of the U.S. economy on Iranian State Television (presstv.ir).

April 7, 2011 Category: Bailout Nation

Exclusive: A Special Q&A Session with Jerry Robinson

In lieu of our regular daily column, we present this very special and exclusive Q&A session with economist and FTMDaily.com Founder, Jerry Robinson. This Q&A session is an excerpt from the Winter 2011 issue of our FTMQuarterly newsletter released on January 15, 2011.

March 24, 2011 Category: Bailout Nation

Former Union Official Threatens “Economic Terrorism”

by Eric Hammer | FTMDaily Contributing Writer TEL AVIV, Mar 24 – In a move that some right wing bloggers are referring to as “economic terrorism,” a former president of the SEIU (Service Employees International Union), Stephen Lerner, gave a talk at Pace University recently where he proposed a plan to destabilize certain Wall Street […]

March 22, 2011 Category: Bailout Nation

Another Deadline Looms For a Government Shutdown

After the latest budget measure passed by Congress with both parties vowing that they will go no farther, we ask yet again, will there be a government shutdown?

February 28, 2011 Category: Bailout Nation

A Federal Government Shutdown: Will They or Won’t They?

The ball is currently in the Democrat’s court. That’s the consensus that the House of Representatives and Speaker of the House John Boehner have offered regarding a possible government shutdown.

November 3, 2010 Category: Bailout Nation

Federal Reserve Announces Massive New Money Printing Campaign: Read The Fed Statement Here

“Information received since the Federal Open Market Committee met in September confirms that the pace of recovery in output and employment continues to be slow. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.

August 20, 2010 Category: Bailout Nation

Economic Recovery or Financial Armageddon? – LISTEN NOW!

Follow the Money Weekly radio host Jerry Robinson talks with popular author and financial commentator, Michael J. Panzner regarding the most pressing economic issues. The interview includes Panzner’s outlook on inflation in the U.S., as well as his opinion about precious metals and agriculture.

July 16, 2010 Category: Bailout Nation

Banks repossess US homes at record pace

Banks repossessed a record number of U.S. homes in the second quarter, but slowed new foreclosure notices to manage distressed properties on the market, real estate data company RealtyTrac said on Thursday.

July 13, 2010 Category: Bailout Nation

The 50 most unbelievable facts about the U.S. economy

As we close on another week replete with ugly economic data and the usual bizarro counterintuitive market, here is a summary of the 50 most underreported facts about the state of the US economy, courtesy of the Coto report.

July 12, 2010 Category: Bailout Nation

Obama’s debt commission warns of fiscal ‘cancer’

The two leaders — former Republican senator Alan Simpson of Wyoming and Erskine Bowles, White House chief of staff under President Bill Clinton– sought to build support for the work of the commission, whose recommendations due later this year are likely to spark a fierce debate in Congress.

July 8, 2010 Category: Bailout Nation

U.S. marks 3rd-largest, single-day debt increase

The National Debt Clock is shown Monday, Feb. 1, 2010 in New York. President Barack Obama sent Congress a $3.83 trillion budget on Monday that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs. The deficit for this year would surge to a record-breaking $1.56 trillion. The Debt Clock is a privately funded estimate of the national debt. (AP Photo/Mark Lennihan)

Category: Bailout Nation

Federal Reserve Surprise! "We may have to print more money" to spur "recovery"

Federal Reserve officials, increasingly concerned over signs the economic recovery is faltering, are considering new steps to bolster growth. With Congress tied in political knots over whether to take further action to boost the economy, Fed leaders are weighing modest steps that could offer more support for economic activity at a time when their target for short-term interest rates is already near zero.

July 6, 2010 Category: Bailout Nation

Niall Ferguson: The US Has 6 Years Before Debt Payments Surpass Defense Spending

Businessinsider.com | Joe Weisenthal | Jul. 6, 2010, 4:51 AM The world’s hottest deficit hawk Niall Ferguson brought his message of fiscal doom & gloom to the Aspen Ideas Festival, where he warned that politicians were lacking urgency over the crisis to come. The Aspen Times reports: And American politicians don’t have a sense of […]

June 29, 2010 Category: Bailout Nation

Consumer Confidence Index plummets to 52.9 in June; Lowest numbers since March

U.S. consumers are increasingly worried about jobs and the economy, the Conference Board said Tuesday, as it reported that its consumer confidence index plummeted to 52.9 in June — the lowest level since March — from a downwardly revised 62.7 in May.

Category: Bailout Nation

Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion

For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg.

June 28, 2010 Category: Bailout Nation

US state budget crises threaten social fabric

The small southern California city of Maywood has hit on a unique solution to its budget crisis. Crushed by the recession and falling tax revenues, the city is disbanding its police force and firing all public sector employees.

June 22, 2010 Category: Bailout Nation

Bank failure is 83rd in ’10; pace more than double last year’s

The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks’ losses mount on loans made for commercial property and development.

June 18, 2010 Category: Bailout Nation

Greenspan Says U.S. May Soon Reach Borrowing Limit

By Jacob Greber June 18 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing. “Perceptions of a large U.S. borrowing capacity are misleading,” and current long-term bond yields are masking America’s debt […]

June 17, 2010 Category: Bailout Nation

Over 90 Banks Miss Their Bailout Payments

More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.

June 16, 2010 Category: Bailout Nation

Treasury Dept: China’s US govt debt holdings hit 2010 high

China’s holdings of US debt climbed to the highest level this year, the US Treasury said Tuesday even as Beijing stepped up attacks on the United States for its burgeoning debt.

June 14, 2010 Category: Bailout Nation

Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case

Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund.

Category: Bailout Nation

Obama Requests Another $50 Billion in State and Local Aid

Concern over the nation’s mounting debt could snarl the passage of President Barack Obama’s proposal to provide more aid to state and local governments hit by the economic downturn.

June 11, 2010 Category: Bailout Nation

Jim Rogers: Now May Be the Time to Buy the Euro

Everybody is so bearish about the euro that it looks like now is a good time to buy the single European currency, famous investor Jim Rogers told CNBC Thursday.

June 9, 2010 Category: Bailout Nation

Economist Mag: "Longer-term Issues for America Are Really, Really Serious"

June 8, 2010 Category: Bailout Nation

U.S debt to rise to $19.6 trillion by 2015

The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.

June 3, 2010 Category: Bailout Nation

U.S. National Debt Tops $13 Trillion Mark

The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill.