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Accounting Miracle: August Deficit Up $146 B. National Debt Up Zero.

Posted on September 10, 2013

It’s all fake. Congress knows it’s fake. The media know it’s fake. It is now a source of great amusement. It’s called “putting the shuck on the rubes.” The voters don’t care or understand. As for the law: Who cares? The federal deficit increased by $146 billion in August, according to a report released today […]

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Will Boehner Capitulate on the Debt Ceiling?

Written by Gary North on September 9, 2013

He has said that there will be no increase in the debt ceiling if there are no spending cuts. There will be no increase in taxes without spending cuts. Obama says he will not accept spending cuts. This is the showdown at the Not OK Corral. Who will blink? Who will back down? If neither […]

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Cooked Books: Debt Limit Pushed Out Another Six Weeks

Written by Gary North on August 27, 2013

The U.S. government’s debt has been locked in at this implausible limit for three months: $16,699,396,000,000. The Secretary of the Treasury says that it will not hit the ceiling until mid-October. The BBC reports this. The country’s borrowing limit is currently capped at $16.7tn (£10.7tn). “Extraordinary measures are projected to be exhausted in the middle […]

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Foreigners Start Selling U. S. Bonds

Written by Gary North on August 20, 2013

The TIC report, issued monthly by the U.S. Treasury, indicates that the central banks of Japan and China recently started selling Treasury debt. I have created a quick link for subscribers. You can check this at any time. Type in this address, and click: http://bit.ly/TICreport. This month, the dumping of U.S. Treasury bonds by foreigners […]

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Bernanke’s Bond Bubble Will Pop — Crofton

Posted on July 31, 2013

The Federal Reserve will lose control of interest rates as the “great rotation” out of bonds into equities takes off in full force, according to one market watcher, who sees U.S. 10-year Treasury yields hitting 5-6 percent in the next 18-24 months. “It is our opinion that interest rates have begun their assent, that the […]

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Federal Debt: Frozen for Two Months. A Miracle!

Written by Gary North on July 30, 2013

How is is it that the official debt of the United States government has been frozen at $16,699,396,000,000.00 for over 70 days? The Secretary of the Treasury is not saying. He merely reports that this is the case. “Trust me.” Congress is trusting him. The Media are trusting him. The voters are trusting him. How […]

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Detroit’s City Pensioners Are Wiped Out.

Written by Gary North on July 19, 2013

It looked so easy. Go to work for the city. Get paid above-market wages. Get a pension. Get health care covered. It was Fat City. It’s Thin City today. The city has officially gone belly-up. It has filed for bankruptcy. The city was in debt to the pensioners for $3 billion.  What about health care […]

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