The White House projected that the sharply rising U.S. government deficit could reach $9.05 Trillion over the next decade. In February, after Mr.Obama became President, the projection was around $7 Trillion. Mr.Obama inherited a gaping budget deficit from the previous Bush administration due to tax cuts. “Still, the deficit, stemming mostly from aid to the …
Continue reading ‘A Historical Perspective of U.S. Debt Growth’ »
THE FLIP SIDE OF GOLD –The illusion of gold mining profits. Like rabbits in strong headlights, equity investors with a gold bent continue to chase increasingly challenging cash margin compression. A group of leading financial analysts quiz Britain’s top regulator on what went wrong and how to sort it out.How to tame global finance The …
Continue reading ‘Knowledge is Power: Gold Illusion and Oil Empire Edition’ »
The FDIC released the Quarterly Banking Profile for second quarter,2009 yesterday. Some of the key points and charts from this report are presented below. More Than One in Four Institutions Are Unprofitable Charge-Offs and Noncurrent Loans Continue to Rise Net Charge-offs: “Net charge-offs of credit card loans were $4.6 billion (84.5 percent) higher than a …
Continue reading ‘Key Points from the latest FDIC’s Quaterly Banking Profile’ »