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Keyword: debtbomb

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  • America's Creditor China Has Its Own Debt Bomb

    02/26/2013 6:22:36 AM PST · by SeekAndFind · 2 replies
    Wall Street Journal ^ | 02/26/2013 | RUCHIR SHARMA
    Six years ago, Chinese Premier Wen Jiabao cautioned that China's economy is "unstable, unbalanced, uncoordinated and unsustainable." China has since doubled down on the economic model that prompted his concern. Mr. Wen spoke out in an attempt to change the course of an economy dangerously dependent on one lever to generate growth: heavy investment in the roads, factories and other infrastructure that have helped make China a manufacturing superpower. Then along came the 2008 global financial crisis. To keep China's economy growing, panicked officials launched a half-trillion-dollar stimulus and ordered banks to fund a new wave of investment. Investment has...
  • Gen O Discovers Washington's Debt Bomb

    04/30/2012 7:23:34 AM PDT · by Eyes Unclouded · 12 replies
    Real Clear Markets ^ | 4.19.2012 | Diana Furchtgott-Roth
    You're breathing a sigh of relief because you've filed your taxes for 2011. But what if your taxes reflected the true cost of the federal government's annual expenditures? How much more would you have to pay? To find out how much that true cost might be, go to Debt Bomb, a new 99-cent app launched last week for your iPhone, iPod Touch, or iPad. You key in your age, your income, your expected income over the next few years, and the software will give you your household's average tax bill to cover Uncle Sam's annual spending. Then, through the app,...
  • iPhone app projects user household tax payments for federal deficit

    04/13/2012 4:31:30 PM PDT · by Eyes Unclouded · 7 replies
    Daily Caller ^ | 04/12/2012 | Staff
    U.S. taxpayers can now use their iPhone to compare how much different plans to tackle the federal deficit would cost them in their yearly income taxes. Debt Bomb — based on the U.S. tax code and publicly available data from the Congressional Budget Office and other government sources — allows users to project how a raise in taxes would cost in their personal income taxes over the years. In order to make a projection, users input basic income tax data — modeled after what a household pays in taxes — into the app. “Debt is going to be one of...
  • The First Crack: $270 Billion In Student Loans Are At Least 30 Days Delinquent

    03/25/2012 3:36:18 PM PDT · by SatinDoll · 29 replies
    The Zero Hedge ^ | 03/25/2012 | Tyler Durden
    Back in late 2006 and early 2007 a few (soon to be very rich) people were warning anyone who cared to listen, about what cracks in the subprime facade meant for the housing sector and the credit bubble in general. They were largely ignored as none other than the Fed chairman promised that all is fine (see here). A few months later New Century collapsed and the rest is history: tens of trillions later we are still picking up the pieces and housing continues to collapse. Yet one bubble which the Federal Government managed to blow in the meantime to...
  • Student loans seen as potential ‘next debt bomb’ for U.S. economy

    03/12/2012 8:19:35 PM PDT · by SeekAndFind · 30 replies · 1+ views
    Washington Post ^ | 03/12/2012 | Eric Pianin,
    Bankruptcy lawyers have a frightening message for America: They’re seeing the telltale signs of a student loan debt bubble that is placing increased financial pressure on families struggling with their children’s mounting debt. According to a recent survey by the National Association of Consumer Bankruptcy Attorneys, more than 80 percent of bankruptcy lawyers have seen a substantial increase in the number of clients seeking relief from student loans in recent years. In most cases, those clients could not meet the federal hardship standards that are necessary to discharge a student loan through bankruptcy proceedings. Instead, many of these parents or...
  • Greek crisis TUI counts already in Drachmen (Greek tour group anticipates drachmas?)

    11/05/2011 4:39:56 PM PDT · by dynachrome · 7 replies
    BILD ^ | 11-5-11 | Paul Ronzheimer
    The tour operator TUI has sent a letter to Greek hoteliers (available BILDde) the hotel owner now be asked to sign a new contract in the event of a currency changeover. Greece Greece Papandreou wins confidence vote Premier Vortex around € Voting Greeks cabinet stands behind Premier Euro vote Papandreou Will we kidding? Euro-Greeks vote solve new crisis Questions about crises out of the Greek crisis - does it work? More about the euro crisis Euro-crisis ends? Greeks fawn at Angela MERKULES Greece chronicle of tragedy It states: "If the euro should not be the currency (...), TUI is entitled...
  • Chinese agency cuts U.S. debt rating again

    08/02/2011 10:51:36 PM PDT · by george76 · 62 replies
    Market Watch ^ | Aug. 2, 2011 | Michael Kitchen,
    Chinese credit-rating agency Dagong Global Credit Rating Co. again downgraded U.S. sovereign debt Wednesday and warned of further downgrades, the state-run Xinhua news agency reported.... Dagong cut U.S. Treasurys to A from A+, with a negative outlook, saying growth in U.S. debt is still outpacing revenue growth. The latest move followed a Dongang downgrade of U.S. debt from AA to A+ in November, citing the launch of the Federal Reserve's second round of quantitative easing. "The agency said the approval to raise the debt ceiling indicated that there will not be any positive changes in factors that will influence the...
  • Obama's Deficit Deception: Cooked books provide a misleadingly rosy outlook

    04/05/2010 7:11:55 PM PDT · by Abakumov · 11 replies · 863+ views
    The Washington Times ^ | April 6, 2010 | Editorial
    Mr. Obama said the government takeover of health care would "lift burdens" off the middle class and reduce the deficit "by more than $1 trillion over the next two decades." Yet this questionable claim is a paltry sum compared to the trillions of dollars of debt Mr. Obama's policies will levy on the same middle class he pretends to be helping.... Mr. Obama can make all the claims he wants about his fiscal responsibility but, unlike some politicians, the numbers don't lie.
  • Unsustainable Spending (Must Read)

    02/21/2010 9:14:19 AM PST · by mojito · 42 replies · 1,057+ views
    RealClearPolitics ^ | 2/21/2010 | David Warren
    A spectre is haunting Europe, and America -- the spectre of Keynesianism finally gone nuts. What began, not very innocently, as a suggestion that governments should run deficits in bad times, and surpluses in good times, gradually "evolved." In the next phase, governments tried to balance at least the operating account during the best of times. In phase three, governments ran deficits by habit during the good times, but much bigger "stimulus" deficits during the bad times. We are now entering phase four. [....] The U.S. national debt now exceeds $12.3 trillion in a $14.2 trillion economy, and the U.S....