America's Economic Future – A Discussion By Ted Kavadas
In various posts as well as seen in the “America’s Trojan Horse” discussion, I have discussed various aspects of both the federal deficit and federal debt. Both of these issues remain highly problematical in many ways. At the same time, many aspects of the problems and their future implications lack recognition, either partially or fully. …
Over the last few months, four phrases have been used frequently in describing our economic condition. I find these phrases to be inaccurate and misleading. Here are the four phrases (in italics) and some brief commentary: “the Great Recession” Many people have labeled the economic weakness (ended by the subsequent purported economic recovery) as “the …
I found this exchange on last Sunday’s (May 9) “60 Minutes” to be interesting. It is between Scott Pelley of “60 Minutes” and Hillary Clinton. For now I will simply post the exchange, and may comment upon it later: Pelley: “Larry Summers, the president’s economic advisor, asked this question: ‘How long can the world’s biggest …
On February 10th an editorial by Scott S. Powell appeared in Investor’s Business Daily titled “Greece’s Crisis: A Warning To Profligate U.S.?” The link can be found here. I am highlighting this editorial as it discusses many important issues, most of which I have previously mentioned on this blog. As well, it compares our current …
Lately there has been quite a bit of activity in either increasing or proposing increasing taxes (also increases in fees, fines, etc). This activity is occurring at all levels, i.e. local, state, and national. These tax increases are very noteworthy given our current period of economic weakness. I will be addressing various aspects of this in the future. For …
As President Obama said during his July 22 Press Conference, healthcare is “a problem that Washington has failed to solve for decades.” I want to make a few random comments about healthcare. Any substantive discussion on my part would be exceedingly lengthy as this is a complex subject. I do believe that there has to …
Ever so often I come across a story concerning the FDIC and its wherewithal to be able to cover its potential commitments. It appears to be exceedingly thinly funded in relation to potential liabilities. This may not be a big issue going forward if the economy improves; however, it could become a very large issue …
John Taylor wrote the following article “Exploding Debt Threatens America”: http://www.ft.com/cms/s/0/71520770-4a2c-11de-8e7e-00144feabdc0.html?nclick_check=1 Although I don’t agree with some of his figures and reasoning, the central point is important: This debt level is a serious problem. It also illustrates the difficulty of ridding ourselves of this level of indebtedness. These issues will likely get greater attention now that sovereign debt …