Schwarzenegger at budget news conferenceBack in February, California politicians and taxpayers received a wake-up call, but, apparently, the alarm wasn't loud enough to wake them.

credit cardThe Obama administration on June 30 unveiled its latest attempt to put an end to the free market in financial services in the United States.

dollars in back pocketAs the fallout from the global financial crisis continues, the burning question in international financial circles is whether the U. S. dollar, the world’s reserve currency since the Second World War, can retain its status. Chinese and Russian leaders have already signaled their distaste for continued dollar hegemony, and the latter have even taken the extraordinary step of publicly seeking assurances that their dollar-denominated assets — U.S. government debt — will be protected.

Fed HQThe Federal Reserve caused the current economic crisis by suppressing interest rates and creating the housing bubble, Texas Congressman Ron Paul, Euro Pacific Capital president Peter Schiff, and others have charged. And now there’s  finally been enough political push-back for the damage the Federal Reserve has wreaked that  the Fed will be hiring a lobbyist.

flag moneyThe Obama administration’s efforts to borrow the U.S. economy into prosperity are meeting more and more skepticism on Wall Street as investors in the bond market are fleeing the U.S. debt market for greener investment pastures. The understandable skepticism of bond investors has forced the U.S. Treasury to increase the interest yields on 10-year Treasury notes, increasing the interest burden of new debt on taxpayers by more than 60 percent since December.