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“At the news conference Booker also quoted as saying, “Call me Mr. Scrooge, if you want, but they’ll be no Christmas decorations around the city.”
The average taxpayer sees government waste every day, yet the politicians are blind to it.
It’s not a matter of cutting a hundred million here and there. It’s a matter of stopping [...]

“The result of currency devaluations can be boiled down prosaically: savers get screwed. Remember, it is the Baby Boomers who have the largest accumulation of savings- either in the form of savings accounts, bonds, or home equity- and therefore, the most to lose from a devaluation. ” Contrarian
Governments seem to forget that one must [...]

A plan in the works to save money in Concord, Massachusetts. Residents can keep their lights on, but they’ll have to pay a monthly fee. It’s become a hot topic in the town of 17,000. David Ropeik: “Government can’t afford now the basic kinds of things that we thought government basically did.”
It’s no wonder [...]

“One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks.”

The sorry spectacle of Conservative cabinet ministers flying around the world defending banks from a tax to cover their next, [...]

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford

Basically what the world central banks are doing is increasing their money by devaluing it (printing more than it’s worth) and giving [...]

“America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economic indigenisation regulations. “Zimbabwe has no elected government. The coalition government has failed to implement the [...]

“That’s an incredible surge,” Adrian Aguirre, an economist at Caracas-based Bancaribe SA, said in a telephone interview. “The fact that food prices rose by more than 11 percent is something we’ve never seen in the last decade.”

Consumer prices rose 5.2 percent in April from March, according to the central bank’s benchmark Caracas price index, released [...]

“”I’m very concerned we’re headed down the same path as Greece,” Rep. Cathy McMorris Rodgers, R-Wash., told Fox News. “Greece found itself in a situation where its public debt was 113 percent of its GDP. They had taken on all this debt, expanded programs and America is headed down the same path.” — Cathy McMorris

The [...]

“Papaconstantinou confirmed Sunday that the government would tighten its belt significantly, despite the protests. “The expenses of the public sector will go down very considerably,” he said. Prime Minister George Papandreou earlier Sunday tried to rally the country behind the government. “We will do everything possible. We are planning very serious changes,” Papandreou [...]

“Every socialist and fascist regime in history has put up walls to prevent flight by people and capital. This is why people and capital are flying now, while they still can. In so doing, they are inspired by the writings of the American revolutionaries. The difference is that they have decided that living in the [...]

“No laws are more basic than the laws of arithmetic: For fiscal sustainability, whatever level of spending is chosen, revenues must be sufficient to sustain that spending in the long run,” Bernanke told the commission, which was established by Obama in February to give recommendations on ways of balancing the federal budget.”

Washington needs to find [...]

The whole “cut them loose” argument regarding Greece’s gargantuan moutain of debt and its inability to pay the interest is ignorance. Looking back in recent history (2002 to present) when Argentina defaulted on its mountainous debt, 20 percent of the Italian pension system went with it and hundreds of thousands of Europeans lost a significant [...]

“As interest rates begin to rise worldwide, losses in derivatives may end up bankrupting a wide range of institutions, including municipalities, state governments, major insurance companies, top investment houses, commercial banks and universities.”

The economy is seriously out of whack. The 25 highest-paid hedge fund managers earned a total of more than $25 billion last year—they [...]

“While the sources for the supposed increases in U.S. consumer spending are murky at best, the amount of consumer spending in and of itself is not a determinant of whether or not economic recovery is taking place.”

The banks are making billions and adding extra fees, mortgage rates are going up so banks will increase [...]

“My goal over the course of the next year is for China to recognize that it is also in their interest to allow their currency to appreciate because, frankly, they have got a potentially overheating economy,” Obama said.

Mr Obama, debt is the problem, not China.
The American government debt is well over $50,000 per American [...]

“And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” — Thomas Jefferson

Spending is bad when it’s on credit and made frivolous on non-essential [...]

“This year we will continue to control the pace and demand of the credit supply,” Mr. Liu said at a conference in Hong Kong. All banks, he added, had been ordered to “heighten their vigilance against an impossible, embedded credit risk.”

For about a year now, China has been giving signs and exerting influence on world [...]

“Frugality is the new fashion and likely to stay that way for years,” highlighting a secular shift toward prudence and conservatism because households are traumatized, tapped out, and mindful of a bleak outlook.

The few greedy cheaters among us have been a major factor in the creation of the impression of economic growth that led to [...]

“Economists are worried about consumer spending in the months ahead given their forecasts that unemployment, currently at 10 percent, will keep rising until perhaps midyear.”

Obviously the only way sustainable growth can occur in this and all countries is by private growth because government growth is false growth. Government spending tax dollars in an attempt [...]

American households have lost $11 trillion in wealth since the peak in the bubble.

Below are some highlights from an article by My Budget 360. NOTE the $11 TRILLION DECLINE IN MAIN STREET WEALTH vs. how the Banksters are doing! Budget 360 is the same source that identified the great divide between Wall Street and Main [...]