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A Large Order of Carnage. Hold the Mao.

Posted on March 3, 2015

euro-breakup

By David Stockman It is almost certain now that we are at the threshold of crossing the Rubicon which will result in a crackup of the EU and the euro.  There are just too many centrifugal forces blowing apart this experiment, which was misbegotten from the very beginning. That will then catalyze a thundering global […]

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$3 Trillion to Topple Saddam

Posted on January 8, 2015

The costs of the 2003-2010 Iraq War are often contested, as academics and critics have unearthed many hidden costs not represented in official estimates. The most recent major report on these costs come from Brown University in the form of the Costs of War, which totaled just over $1.1 trillion. The Department of Defense’s direct […]

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Oil Patch Bust — The Leveraged Disaster Has Begun.

Posted on January 6, 2015

By Harris Kupperman What is the senior debt on a shale play that needs $100 oil to be profitable worth? With oil at $51, it’s worth roughly zero. What is the equity worth? Even less. What is the junk debt worth? Somewhere in the middle. The first epiphany in the shale patch will soon be […]

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Keynesianism + Central Bank Counterfeiting + Aging = Stagnation

Posted on December 26, 2014

Japanese drew down savings for the first time on record while wages adjusted for inflation dropped the most in almost five years, highlighting challenges for Prime Minister Shinzo Abe as he tries to revive the world’s third-largest economy. The savings rate in the year through March was minus 1.3 percent, the first negative reading in […]

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Michael Vick Pays off an $18 Million Debt

Written by Gary North on December 23, 2014

michael-vick

Pro football player Michael Vick could have fled for Chapter 7 and escaped this burden when he was in prison. Instead, he filed for Chapter 11 — reorganization. He has just about paid it off. He became a Christian in prison. He worked with former Colts Coach Tony Dungy to get back on track. He […]

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Afghanistan: $1 Trillion, or $1.7 Trillion, Not Counting Medical Care

Posted on December 15, 2014

usa-afghanistan

The Afghanistan war, the longest overseas conflict in American history, has cost the US taxpayer nearly $1tn and will require spending several hundred billion dollars more after it officially ends this month, according to Financial Times calculations and independent researchers. Around 80 per cent of that spending on the Afghanistan conflict has taken place during […]

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Video: Visualizing $17 Trillion

Written by Gary North on December 2, 2014

debt

The on-budget debt of the U.S. government just went over $18 trillion. This is chump change. The government’s unfunded liabilities (off-budget) of Social Security and Medicare are about $200 trillion. That is serious money. But let’s look at chump change. This lets you visualize $17 trillion.

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