Tag: budget-deficit

Anticipating a Budget Deficit

Filed in AIG, AT T, BP, Debt, o, Quantitative Easing, silver by on February 2, 2011 0 Comments

I am constantly amazed at the number of people who think that a budget deficit is the same thing as the total federal deficit, which it ain’t. Actually, I remember one time early in my career where I was so desperate to cover up the results of my own incompetence that I tried to exploit Anticipating a Budget Deficit originally appeared in the Daily Reckoning . Recent articles featured in The Daily Reckoning include the impact of quantitative easing and US debt .

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Moody’s Cuts Portugal’s Sovereign Debt Rating

Moody’s Cuts Portugal’s Sovereign Debt Rating

Filed under: International Markets , Economic Data , Financial Crisis , Currency Moody’s Investors Service cut Portugal’s sovereign debt rating . In a statement from the agency, Anthony Thomas said: “The Portuguese government’s debt to gross domestic product and debt to revenues ratios have risen rapidly over the past two years.” Moody’s also questioned whether Portugal’s economic reforms will be sufficient to reverse the deterioration in the country’s debt metrics, especially in light of recent labor reforms. Portugal initiated a program to cut its budget deficit from 9.4% of GDP to 8.3% of GDP this year and to 2.8% of GDP in 2013. Moody’s expects the Portuguese economy to be flat to plus 0.5% and to rise to 1.5% in 2011. Continue reading Moody’s Cuts Portugal’s Sovereign Debt Rating Moody’s Cuts Portugal’s Sovereign Debt Rating originally appeared on BloggingStocks on Tue, 13 Jul 2010 08:00:00 EST. Please see our terms for use of feeds . Read  |  Permalink  |  Email this  |  Comments

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Bernanke: Budget Deficits May Push Interest Rates Higher

Bernanke: Budget Deficits May Push Interest Rates Higher

Filed under: Market Matters , Economic Data , Federal Reserve It’s an age-old dilemma. Congress loves to spend taxpayer money. The problem is that Congress is spending money that they don’t have, racking up huge budget deficits. Chairman Bernanke warned that high budget deficits could cause interest rates to rise and derail the economic recovery. The White House estimates that the U.S. budget deficit could reach $5.1 trillion over the next five years. This year, the deficit could set a record of $1.6 trillion. Continue reading Bernanke: Budget Deficits May Push Interest Rates Higher Bernanke: Budget Deficits May Push Interest Rates Higher originally appeared on BloggingStocks on Sat, 01 May 2010 16:40:00 EST. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments

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Greek Debt Pushes Gold Prices Down

The continuing debacle in Greece has investors on edge, and that has pushed the price of gold down again, as the euro continues to drop while the U.S. dollar rose today. At one point gold for June delivery had fallen by $13.50 to $1,135.30, although gold prices have rebounded some from that, and have traded from $1,133.10 to $1,149.80 throughout the day. News that the budget deficit of Greece

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Spain: [PM] Zapatero prepared for deeper cuts

Filed in Gold, Gold Bullion prices by on April 12, 2010 0 Comments

Spain will implement its economic austerity plan to cut its budget deficit “whatever the cost”, and will introduce even harsher measures if necessary, according to José Luis Rodríguez Zapatero, the Socialist prime minister. In an interview with the Financial Times, Mr Zapatero – who has been heavily criticised in Spain for failing to recognise the gravity of the economic crisis – admitted that he was an optimist and quoted former US president Bill Clinton as saying that pessimism had never created a single job. However, Mr Zapatero said he was determined to take the unpopular measures needed to reduce a… Original Article: Forum: News/Activism

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States Skip Pension Payments, Delay Day of Reckoning

Filed in Gold by on April 10, 2010 0 Comments

State governments from New Jersey to California that are struggling to close budget deficits are skipping or deferring payments to already underfunded public-employee pension plans. The moves could help ease today's budget pressures, but will make tomorrow's worse. New Jersey's governor, a fiscal conservative, has proposed not making the state's entire $3 billion contribution to its pension funds because of the state's $11 billion budget deficit. Virginia has proposed paying only $1.5 billion of the $2.2 billion required pension contribution. Connecticut Republican Gov. M. Jodi Rell is deferring $100 million in payments this year to the pension fund for state… Original Article: Forum: News/Activism

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Who’s Hiding In The Sherwood Forrest?

Filed in Gold, Gold Investing, Gold Prices by on April 9, 2010 0 Comments
Who’s Hiding In The Sherwood Forrest?

“If Germany, France and Britain—all of whom support some form of Robin Hood tax—were to proceed unilaterally, it is hard to see how the US could oppose it. Moreover, with the US budget deficit approaching 10% of GDP and much of the US press calling for budget balance. A Robin Hood tax is Obama’s lifeline.”

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Volcker: Taxes likely to rise eventually to tame deficit

Filed in Bank Gold, euro, Gold by on April 7, 2010 0 Comments

Reuters Wednesday, April 7th, 2010 The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday. Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax “was not as toxic an idea” as it has been in the past and also said a carbon or other energy-related tax may become necessary. Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. “If at the end of the day we need to raise taxes, we should raise taxes,” he said.  

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U.S. to Avoid Sovereign Debt Default Through Inflation

Filed in Debt, economy, Gold Investing by on March 20, 2010 0 Comments

Today’s U.S. public finances are on an unsustainable path because the U.S. budget deficit will remain at between 4% and 6% of GDP even after the U.S. economy has fully recovered from its present economic recession and then double from 42% of GDP in 2008 to 83% of GDP by 2019. This will take the debt way beyond the 60% of GDP level considered by the European Maastricht treaty as a prudent level not to be exceeded by an industrialized country. How can this dilema be resolved? Words: 569

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It’s Time to Invest in Canada

Filed in Gold Investing, silver by on March 16, 2010 0 Comments

This isn’t the first time that I’ve written about Canada, a well-run country that has avoided many of the mistakes made by the United States. Its budget deficit is moderate, its… Money Morning is here to help investors profit handsomely on this s…

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Egypts budget deficit rises to $11.9 bln – report

Filed in Gold Holdings, Gold Investing by on March 13, 2010 0 Comments

CAIRO, March 13 – Egypt’s budget deficit rose to 65 billion Egyptian pounds in July-Jan of fiscal year 2009/10, state news agency MENA reported on Saturday, citing a report from the finance ministry. The figure represents 5.5 percent of Egypt’s G Egypts budget deficit rises to $11.9 bln – report

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CBO: Preliminary Analysis of the PresidentÂ’s Budget

Filed in Debt, Gold by on March 6, 2010 0 Comments

Under the President’s budget, the cumulative deficit over the 2011–2020 period would equal $9.8 trillion (5.2 percent of GDP), $3.8 trillion more than the cumulative deficit projected in the baseline. Under the President’s budget, debt held by the public would grow from $7.5 trillion (53 percent of GDP) at the end of 2009 to $20.3 trillion (90 percent of GDP) at the end of 2020. As a result, net interest would more than quadruple between 2010 and 2020 in nominal dollars (without an adjustment for inflation); it would expand from 1.4 percent of GDP in 2010 to 4.1 percent in… Original Article: Forum: News/Activism

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