Tag Archives: budget

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    Four More Years

    Predicting a global recession in 2013
    by Chris Martenson

    Thursday, November 8, 2012, 3:51 PM

    83

    Obama has been re-elected. Given the hyperbole and highly emotional rhetoric of the election, it is hard to imagine that the U.S. is anything but slightly more divided than before, with the gaps and divisions widening more and more as time goes on.

    The real tragedy in this story is that virtually none of the really big and important issues were even touched in this election cycle. One party pointed to how much they managed to increase military spending while the other promised to exceed even that. One side said they'd promote even faster drilling and extraction of our dwindling energy reserves and the other promised they could do it even faster. Both said they wanted more growth and more jobs and more, more, more.

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  • Blog

    The Breakdown Draws Near

    by Chris Martenson

    Tuesday, April 19, 2011, 4:22 PM

    0

    Things are certainly speeding up, and it is my conclusion that we are not more than a year away from the next major financial and economic disruption.

    Alas, predictions are tricky, especially about the future (credit: Yogi Berra), but here’s why I am convinced that the next big break is drawing near.

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  • Blog

    Daily Digest 3/29 – What’s Missing In New York’s Budget, Bernanke On Oil Shocks, Is Fukushima About To Blow?

    by DailyDigest

    Tuesday, March 29, 2011, 2:42 PM

    0
    • When Integrity Dies
    • What You Won’t See In New York’s Budget
    • Japanese Government Backtracks Again: Edano Says No Plan To Nationalize TEPCO
    • Japan’s Electricity Shortage to Last Months
    • Japan Mulls Nationalising Fukushima Nuclear Plant Company
    • Bernanke On The Effects Of Oil Price Shocks, And Why The Fed Will Never Tighten In Response To Oil At Any Price
    • Is Fukushima About To Blow?
    • First Suicide – A Vegetable Farmer in Fukushima

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  • Blog

    How to Explain the Current Economic Situation to Friends & Family

    by rhare

    Sunday, March 13, 2011, 8:46 PM

    0

    Given its simple elegance in addressing a question frequently asked on this site, this post has been elevated from the forums section. It has been updated by site members rhare and travlin since its first appearance (the original post can be read here).

    I’ve been working on a way to get across to friends and family how bad the economic situation has become. I find one of the biggest problems is that when numbers are in the billions and trillions they are very hard to imagine, and people get this glazed/deer in the headlights look. So I decided to try to scale the numbers in a way that can be more easily visualized. 

    Below is an updated version, with many thanks to members of ChrisMartenson.com community who suggested changes/corrections, and particularly to Travlin for rewording much of the message to make it a better story. Hopefully this version will help convince others of the serious nature of the US fiscal outlook. 

    My Troubled Relative 

    I need your advice. I have a relativewho is in financial trouble. He makes $50,000 a year, but he spent $74,591 last year, and his prospects of making $50,000 this year look kind of bad. There’s a good chance he will get a pay cut.

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  • Blog

    Daily Digest 3/2 – Prices On All Goods Continue To Rise, Unemployment To Remain Constant, Students Protest School Cuts

    by saxplayer00o1

    Wednesday, March 2, 2011, 3:44 PM

    0
    • Bernanke says unemployment rate would not return to a more normal level for years
    • Kodak to raise prices on digital, conventional plates
    • Michelin to raise passenger, LT tire prices
    • Clothing prices to rise 10 percent starting in spring
    • Thousands of poor Utahns face less help with heating bills
    • Tuition rates continue to rise across the board, UCCS included
    • School Lunch Prices Increase Tuesday
    • Truckers Rally Against Fee, Tax Proposals
    • As College Costs Continue to Soar, Students Head Abroad
    • U.C. Davis Braces For Cuts
    • Crime-Filled Paterson, N.J. Staring At 100-Plus Police Layoffs
    • Poverty levels spike in local schools
    • Students plan walkouts to protest budget cuts
    • Social Security offices across U.S. to protest cuts
    • USD Students Rally Against State Budget Cuts To Education
    • Delaware Social Services In High Demand Amid Cuts
    • House approves stopgap spending bill
    • Gold Hits Record High
    • Bernanke Unfazed By Gold Standard, Currency History Queries
    • Oil prices push past US$98 a barrel after Iran imprisons opposition leaders
    • Diesel prices up 14.3 cents in the last week, says EIA
    • Supermarkets are raising prices faster than inflation, says UBS

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  • Blog

    Daily Digest 2/20 – Budget War Rages On, Union Protests in Wisconsin, Silver Bankers Sitting On Big Derivatives Losses

    by DailyDigest

    Sunday, February 20, 2011, 3:48 PM

    0
    • U.S. Shutdown Looms As Budget War Rages
    • For Wisconsin Governor, Battle Was Long Coming
    • Pump It Up
    • Silver Bankers May Be Sitting on Big Derivatives Losses and the Fed May Be Funding Them
    • Silver Explodes/Middle East Problems Continue
    • Mauldin: A Random Walk Around The Frontlines
    • Iran Gas Pipeline To Pakistan On Hold
    • Robert Newman’s History Of Oil

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  • Blog

    Daily Digest 2/18 – The Budget For Dummies, Unrest in Bahrain, No Net Energy in Colorado Shale Oil

    by DailyDigest

    Friday, February 18, 2011, 3:51 PM

    0
    • The Budget For Dummies
    • America’s Budget: The Latest Cop-Out
    • House Spending Impasse Raises Risk of Shutdown
    • Fandango Thursday – Does Anything Really Matter?
    • Bahrain Killings Bring Mid-East Turmoil To Epicentre Of World Oil Supply
    • Colorado Shale Oil Contains No Net Energy
    • Recycled Shopping Bags To Save Suburbs?
    • Chevron: Monster Or Victim?

    Follow our steps to prepare for a world after peak oil, such as how to store & filter water

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  • Blog

    Obama’s Budget is a Fantastic Comedy

    by Chris Martenson

    Tuesday, February 15, 2011, 3:34 AM

    0

    Fantasy or comedy?  I couldn’t decide which way to label the Obama budget, so I went with both.

    The bottom line is that the Obama administration has brought forth the most unbelievable revenue increase that I have ever seen proposed in a budget, a whopping 65% increase in revenues in just four years, which will – miracle of miracles – drop the deficit as a percent of GDP from nearly 11% to just 3.2% over those same four years.

    The only problem with this scenario is that it stands virtually no chance of actually happening. Revenue will be far lower than projected and the deficit correspondingly higher.

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  • Blog

    Daily Digest 1/27 – Bear Stearns May Have Cheated Clients, Social Security to Run Permanent Deficits, Shelters Could Close

    by DailyDigest

    Thursday, January 27, 2011, 4:00 PM

    0
    • E-mails Suggest Bear Stearns Cheated Clients Out of Billions
    • CBO: Social Security To Run Permanent Deficits
    • Inflation? No Problem … If You Avoid Food
    • Majority of Shelters Could Close with Proposed Budget
    • Arizona Seeks Waiver To Cut 280K From Medicaid Rolls
    • Quinn Calls for Borrowing Plan
    • In U.S., One in Four Unemployed Adults in Financial Distress

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