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Keyword: usdebt

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  • Forget PIIGS, US Debt Is Out of Control (depreciation of the dollar looms)

    06/06/2010 8:59:15 AM PDT · by SeekAndFind · 33 replies · 726+ views
    MinyanVille ^ | 06/05/2010 | Robert Barone
    The markets are in turmoil because of worry about the so-called PIIGS (Portugal, Ireland, Italy, Greece, and Spain) debts. In Fiscal Crises: The Next Shoe, I opined that Greece is just the canary in the coal mine and that when we look homeward, we have our own huge debt issues, which aren't significantly different from those of the PIIGS countries. I believe that the only reason the European contagion hasn't yet spread to America is because of the dollar’s status as the world’s reserve currency. That era is coming to an end, and it would behoove America to get its...
  • China Remains Biggest Holder of U.S. Debt

    05/03/2010 1:15:40 AM PDT · by ErnstStavroBlofeld · 4 replies · 318+ views
    Wall Street Journal ^ | 4/30/2010 | Sarah Lynch and Meena Thiruvengadam
    The verdict is in: China is still the top holder of U.S. government debt, the Treasury said in a report on Friday. The report showed that as of December, China held $894.8 billion in U.S. securities. The figure is consistent with a preliminary report released in late February. Friday's final version of that report puts to rest a question about whether Japan had surpassed China as the top holder of U.S. debt in December. A report released by the government in mid-February had suggested that China had lost its top spot—one it had gained in 2008. But then, later that...
  • Of Slashing Federal Spending and Cutting Taxes

    04/17/2010 11:18:22 AM PDT · by Welshman007 · 1 replies · 117+ views
    Conservative Examiner ^ | 4/17/2010 | Anthony G. Martin
    Conservatives in one accord are united behind at least 2 principles--reducing the size of government by slashing federal spending, and cutting taxes for all, across the board. At issue is how to best go about it.
  • China top holder in US debt, after all

    02/28/2010 9:44:27 PM PST · by ErnstStavroBlofeld · 3 replies · 306+ views
    AFB via Terra Daily ^ | 2/27/2010 | AFB via Terra Daily
    China remained the top holder in the ballooning US debt last year, revised data showed, after earlier indications it had been eclipsed by Japan drew speculation about Beijing's motives. Revised data released late Friday by the Treasury Department indicated that while China had cut back on its bond holdings, the level was still well above that of Japan. China held 894.8 billion dollars in Treasury securities at the end of December, more than the 755 billion dollars estimated earlier in the month. But it was still down from a revised 929.0 billion dollars in November. Japan in December held 765.7...
  • String of Ominous Signals for U.S. Economy

    02/17/2010 8:16:21 AM PST · by Welshman007 · 17 replies · 906+ views
    Conservative Examiner ^ | 2/17/2010 | Anthony G. Martin
    Tuesday, February 16, 2010 is the day upon which the perfect economic storm began for the United States. A string of ominous signals for the U.S. economy were reported in various media outlets around the world, none of which made front-page, headline news in the American mainstream media. First, America's largest creditor, China, sold off most of its U.S. treasuries to Japan, a sign that the Asian communist country has lost its stomach for holding the vast majority of U.S. debt. That dubious honor now goes to Japan. Despite the Obama Administration's attempt to put the best face on the...
  • California Debt Crisis, Muni Bonds At Real Risk of Default

    02/10/2010 4:20:59 PM PST · by blam · 16 replies · 955+ views
    The Business Insider ^ | 2-10-2010 | Richard Shaw
    California Debt Crisis, Muni Bonds At Real Risk of Default Interest-Rates / US Debt Feb 10, 2010 - 10:36 AM By: Richard Shaw California’s finances are a mess. Credit default swap rates put California among the top ten most likely to default among major governments worldwide. If you are a California resident and think California can solve it’s own budget problems, or if you think the US government will bail them out, then you might want to own California municipal bonds for the best fit tax shelter and the higher nominal yield. However, if you doubt either of those, you...
  • China threatens economic warfare against U.S.

    02/10/2010 5:35:21 AM PST · by usalady · 25 replies · 825+ views
    Examiner.com ^ | February 10, 2010 | Martha
    Military leaders in China called for the sale of U.S. debt securities on Monday, February 8, 2010 in response to arms sales recently made to Taiwan.
  • Global Insolvency, How Will The U.S. Service Its Debt?

    02/03/2010 4:04:17 PM PST · by blam · 17 replies · 451+ views
    The market Oracle ^ | 2-3-2010 | Bob Chapman
    Global Insolvency, How Will The U.S. Service Its Debt? Economics / US Debt Feb 03, 2010 - 02:46 AM By: Bob Chapman The recent election in Massachusetts of Republican Scott Brown to the Senate was a seminal event. It ended the Democratic administration’s ability to ram through legislation. It changed the game. The locomotive hit the bunter. China saw the error of its ways in overstimulating its economy and halted bank lending. The Senate majority refusing to seat the new Senator Brown passed a tremendous increase in short-term government debt. Goldman Sachs and others thumbed their noses at the rest...
  • Is A U.S. Debt Default Inevitable?

    01/27/2010 5:58:27 AM PST · by blam · 31 replies · 868+ views
    Is A U.S. Debt Default Inevitable? Politics / US Debt Jan 27, 2010 - 01:54 AM By: Submissions Patrick J. Buchanan write: We were blindsided. We never saw it coming. So said Goldman Sachs CEO Lloyd Blankfein of the financial crisis of 2008. He likened its probability to four hurricanes hitting the East Coast in a single season. Blankfein was reminded by the chairman of the Financial Crisis Inquiry Committee, Phil Angelides, that hurricanes are “acts of God.” Financial crises are manmade. Yet Blankfein was backed up by Jamie Dimon of JP Morgan, who said, “Somehow, we just missed …...
  • An Unprecedented Mountain of Debt

    11/29/2009 12:15:40 AM PST · by sheikdetailfeather · 18 replies · 997+ views
    Canada Free Press ^ | November 28, 2009 | Daniel Greenfield
    Since Obama is rather attached to describing everything he does as “unprecedented”, “I have achieved an unprecedented level of transparency”, “I played an unprecedented amount of golf this year” and “I just wasted an unprecedented amount of money”... in honor of the Liar in Chief, we can make “unprecedented” the word of the day. First up is Obama’s unprecedented deficit. The current real cost of ObamaCare is up to 2.5 Trillion dollars and rising. The Senate Republicans’ chart demonstrates that the total for all of these costs—based on CBO projections for the bill’s true first 10 years—is $2.5 trillion. And...
  • China Creates Closer Economic Ties with Africa

    11/07/2009 7:28:52 AM PST · by usalady · 3 replies · 298+ views
    examiner.com ^ | November 7, 2009 | Martha
    With plenty of money to invest from the interest owed to it by the United States, China continues reaching out its tentacles to grab more natural resources from Africa.
  • Cash Crunch,Press Silence: As ObamaCare Advances In Congress, Uncle Sam’s Collections Continue Drop

    11/05/2009 11:56:24 PM PST · by chuck_the_tv_out · 1 replies · 451+ views
    Newsbusters ^ | November 5, 2009 - 16:06 | Tom Blumer
    The August Congressional Budget Office budget forecast for the fiscal year that began last month says that Uncle Sam will take in $2.264 trillion from October 2009 through September 2010. That’s an increase of 7.6% over fiscal 2009’s intake of $2.105 trillion. Though it won’t be official until Tim Geithner’s crew releases its Monthly Treasury Statement next week, it’s virtually certain that the government’s collections will open the year in a deep hole compared to last year, and probably well behind what CBO expects. Take a look at this compilation of key items from October’s final Daily Treasury Statement, compared...
  • U.S. debt considered risky by Chinese economists

    07/28/2009 10:49:25 AM PDT · by usalady · 5 replies · 248+ views
    Examiner.com ^ | July 28, 2009 | Martha
    As Treasury Secretary Timothy Geithner visited China to calm their nerves about the huge debt being incurred by the United States, a survey of Chinese economists published on Sunday called its holdings of U.S. bonds as "risky."
  • Relax. The U.S. isn't a deadbeat (chance of the government defaulting on its debt is slim)

    05/22/2009 3:38:58 PM PDT · by SeekAndFind · 11 replies · 664+ views
    CNN Money ^ | 5/22/2009 | Paul R. La Monica
    It looks like after two months of ignoring the risks that remain for the economy and markets, Wall Street has finally found something else to worry about: the possibility that the United States could lose its AAA credit rating. Thursday was one of those rare days when stocks, bonds and the dollar all fell. Stocks recovered slightly Friday morning ahead of the Memorial Day weekend, but Treasurys and the greenback were lower again. The sell-off was partly sparked by Thursday's news that rating agency Standard & Poor's had decided to place the sovereign rating of the United Kingdom on "negative...
  • Obama as Gerbil, Horse, or Spinmeister?

    05/22/2009 9:04:43 AM PDT · by StopBigGovt · 6 replies · 318+ views
    Big Government In Your Wallet ^ | 5/22/09 | Kelly Estes
    As investors in U.S. government debt demand a higher return for holding what they perceive as a riskier debt, the Obama administration attempts to spin this recent development as a possible indicator of an economic recovery. What do you think?
  • Obama Says U.S. Long-Term Debt Load ‘Unsustainable’

    05/14/2009 3:50:45 PM PDT · by Crazieman · 115 replies · 4,582+ views
    King Bloomberg's News | 5/14/09 | Roger Runningen and Hans Nichols
    http://www.bloomberg.com/apps/news?pid=20601087&sid=aJsSb4qtILhg&refer=worldwide Link only, per the rules of King Bloomberg I's news service.
  • Inconvenient Debt - Glenn Beck Video

    02/26/2009 5:50:53 AM PST · by SonOfDarkSkies · 411+ views
    Dark Skies Blog ^ | 2/26/2009 | Jack Everest
    The day following President Obama’s State of the Union speech I opened my daily newspaper to read the headline “What the president said and what the facts say.” It was an Associated Press story and it drove a tank through the President’s various promises and assertions. The AP reporters weren’t the only people who had some doubts. A Reuters news story confirmed my prediction, noting that “Stocks fell on Wednesday as investors found little new in a major speech by President Obama on how he planned to stabilize the economy, while gloomy home sales data weighed on the market.” Facts...
  • China increases US treasury holdings (from $587bn to $652.9bn: up $65.9bn in a month)

    12/17/2008 12:43:43 AM PST · by TigerLikesRooster · 26 replies · 1,251+ views
    China Daily ^ | 12/17/08 | Xin Zhimin
    China increases US treasury holdings By Xin Zhiming (China Daily) Updated: 2008-12-17 07:14 Comments(8) PrintMail China increased its holdings of US treasury securities by $65.9 billion in October, consolidating its place as the No 1 holder of American debt, according to the Treasury's latest report on international capital flows. It was China's largest monthly increase this year, pushing the country's total holdings to $652.9 billion, compared with $587 billion at the end of September, when it replaced Japan to become the top holder of US debt. The continual increases in US debt holdings in recent months have triggered fierce domestic...
  • Exploding government debt, a real threat to America's sovereignty

    11/16/2008 8:36:19 PM PST · by Jimmy Lee · 13 replies · 571+ views
    The Christian Mirror ^ | 11-15-08 | James L. Lambert
    Americans have an immediate problem that we all need to face! If government deficits continue to grow at current levels, America's sovereignty could well be at risk in just 5 to 10 years. Foreign markets including the Chinese and Saudi governments holds billions in American debt, Do you want these people to dictate our financial destiny. I certainly hope not.
  • The Problem With Artificially Low Interest Rates

    03/08/2008 7:11:30 PM PST · by count-your-change · 44 replies · 1,178+ views
    Dailyreckoning ^ | march 6, 2008 | marc faber
    "Otherwise Treasury securities will reach "junk" status sooner than I expected, But I canvery confidently predict that, in the long term, US debt will become "junk"!
  • Senior China Official Urges Cut in US Debt Holding

    04/03/2006 9:11:36 PM PDT · by ex-Texan · 27 replies · 1,100+ views
    Reuters/ Yahoooo ^ | 4/03/2006 | Staff Writers
    BEIJING (Reuters) - China should gradually reduce its holdings of U.S. debt and can stop buying dollar-denominated bonds, a Hong Kong newspaper on Tuesday quoted Cheng Siwei, a vice chief of China's parliament, as saying. With China a leading financier of the U.S. current account deficit, Cheng's comments sent the dollar lower against the euro and yen and also pushed down prices of U.S. government bonds. The Beijing-funded Wen Wei Po daily carried Cheng's comments, made in Hong Kong on Monday, but it was not immediately clear whether they reflected those of top decision makers who determine the content of...
  • Deficits, China and mortgage rates

    08/14/2005 7:12:22 AM PDT · by sitetest · 32 replies · 801+ views
    The Washington Times ^ | August 14, 2005 | By Alan Reynolds
    In late 2003, a Forbes review of former Treasury Secretary Robert Rubin's book "In an Uncertain World" noted: "Rubin is quite certain that eventually the huge deficit will push up interest rates on 10-year Treasuries from the current 4.5 percent to 7.3 percent. Jot down his arithmetic rule for future use: For every rise in the deficit equal to 1 percent of gross domestic product, figure that long-term interest rates will rise by 0.4 percent." Mr. Rubin was quite certain and quite certainly wrong. The budget surplus in fiscal 2000 was 2.4 percent of GDP. The deficit in 2005 was...
  • Gathering storm over China - (deadly serious matter)

    06/08/2005 9:52:35 PM PDT · by CHARLITE · 62 replies · 1,737+ views
    WASHINGTON TIMES.COM ^ | JUNE 9, 2005 | SUZANNE FIELDS
    You don't need a fortune cookie to learn that China isn't playing straight with the rest of the world. The men in Beijing may be taking some of their clues from the most important page of Mao Tse-tung's Little Red Book: "Every Communist must grasp the truth, 'Political power grows out of the barrel of a gun.'" We've been lulled into thinking the Chinese brand of "free markets" will move that country toward democracy. Maybe someday, eventually, it will. But free markets must be accompanied by personal freedoms and representative government, and that isn't happening. In fact, there are disturbing...
  • Economist: China Loses in Dollar Stability

    01/26/2005 1:31:43 PM PST · by Voteamerica · 34 replies · 695+ views
    Ledger Enquirer ^ | 1/26/2005 | EDITH M. LEDERER
    DAVOS, Switzerland - China has lost faith in the stability of the U.S. dollar and its first priority is to broaden the exchange rate for its currency from the dollar to a more flexible basket of currencies, a top Chinese economist said Wednesday at the World Economic Forum. At a standing-room only session focusing on the world's fastest-growing economy, Fan Gang, director of the National Economic Research Institute at the China Reform Foundation, said the issue for China isn't whether to devalue the yuan but "to limit it from the U.S. dollar." But he stressed that the Chinese government is...
  • WSJ U.S. rating risk report adds to dollar woes

    12/07/2004 5:44:34 PM PST · by Stratman · 5 replies · 1,253+ views
    Reuters ^ | December 7, 2004 | Reuters
    LONDON, Dec 7 (Reuters) - The notion that rating agencies may one day downgrade the U.S. government's triple-A bond rating triggered financial market discussion on Tuesday about the previously unthinkable and added more pressure to the dollar. An article in the Wall Street Journal Europe said that analysts and investors had begun to "question the unquestionable" amid worries about budget and trade deficits and the weak dollar. The article made no suggestion that any downgrade was actually in the works from the big three ratings agencies -- Moody's, Standard and Poor's and Fitch. But it cited a research note by...