This year marks the 100th anniversary of the Internal Revenue Service.  Yesterday was the day that the United States, as a country, had earned enough income to pay our total annual tax bill for 2013, deemed Tax Freedom Day®,  as calculated by the Tax Foundation,… Read more

The infamous line from the Wizard of Oz, “Toto….. we’re not in Kansas anymore,” is a perfect lead in to discuss the economic, regulatory and political changes that already have and will take place in 2013. 2013 is all about change. Not everything is going… Read more

While the Senate appears to have negotiated the tax increase side of the Fiscal Cliff issue, the House has opted not to vote today, December 31st, and they are not in session tomorrow. So at best, the House could vote on Wednesday, or they may… Read more

As the U.S. continues deeper into the abyss given massive federal deficits and looming spending increases on entitlements, Congress and the President are scrambling for potential spending cuts and tax increases. Included in this discussion is a potential to limit or eliminate the mortgage interest… Read more

The planets are lining up—and we are not talking about a beautiful comet or a spectacular eclipse, but rather a large meteor impact coming, in economic terms, due to the U.S. House of Representatives, Senate and the President just kicking the can down the road… Read more

If you looked at the basic U.S. Gross Domestic Product (GDP) numbers, you would conclude that the U.S. is gaining economic ground.  [Note: GDP is the total market value of all recognized goods and services produced by a country or state.  Typically not in the… Read more

It's Just Not the Federal Government That We Need to Question Regarding Debt An Example of State Perils (and I am not picking on California—this is just too good of an example to pass up) Many states are currently in economic peril—with California perhaps at… Read more

Standard & Poor's Throws the First Volley at the Record U.S. Deficit Cutting the Rating Outlook to Negative (but still maintaining the AAA Rating).  Stock Futures Drop 167 Points The act this morning by S&P will accelerate the increase in interest rates for all loans… Read more

I wrote last month how a typical Japanese investor that had purchased a Two-Year Treasury Note lost more than 10 percent per year on their investment – see post from September 27th– and that the only way they would keep coming back and buying U.S…. Read more

And if the US Government Does Not–Then Interest Rates Rise Significantly Regardless Nine in ten loans today are guaranteed by either Fannie Mae, Freddie Mac or governmental agencies according to this Wall Street Journal article.   Without some form of guaranty from the US government, interest… Read more