Taxes are for the little people.

I hope this author was joking. Dollars are not backed by any metal,  so the trillion dollar coin can be any size. Platinum is just the medium that the treasury needs to use to transfer the dollars (again not backed by anything) from the Mint to the Federal Reserve.  They could have used a trillion dollar nickel coin if...more

Our financials had to play with one hand tied behind their backs because of regulation. Yeah, due to that stupid Glass-Steagall Ac....oh wait.

Meaning he'll only have $4 billion left over? Hardly worth getting out of bed in the morning for.

The shiller p/e ratio, which is a decent predictor of future movements, is around 22, whereas the historic average is around 16.  At this valuation the overall market in the past sometimes when up, sometimes went down, but on average did not do much. This is what we have been seeing for quite a while now.  Given that i...more

I LIVE IN iTALY AND THE COUNTRY IS MADE OF GOOD PEOPLE  THAT WORK AND SAVE THEIR MONEY. I'd have to agree with you.  Italy's finances were (relatively) decent before the big crash.  Now that Greece has bond investors worried about insolvency, it's becoming a self-fulfilling prophecy.  Yields are shooting way up, causi...more

Europe is facing the same problem that faced the gold standard in the 1930s.  Not controlling your own currency allows for bond runs on countries that even had OK deficits and sometimes annual surpluses (Spain and Italy) before the collapse.  These bond runs are possible because the country cannot print it's own curren...more

A perfect example of first world problems.

Ironically, even the Cato Institute, as right as they come, admit that "starve the beast" was an utter failure.  They find that when tax receipts go down, spending actually increases, relative to GDP. http://www.cato.org/ ​ pubs/journal/cj26n3/ ​ cj26n3-8.pdf