Forums: Debt Consolidation

'It's Going to Be Inflation Everywhere:' Deputy 'Doom' ECONOMY, SUPERCYCLE, NOURIEL ROUBINI, ARUN MOTIANEY, DEPUTY DOOM CNBC.com | 10 Mar 2010 | 09:40 AM ET The global economy is entering a next "supercycle" phase that will generate inflation necessary for recovery, a strategist and protege of noted economist Nouriel Roubini told CNBC. Arun Motianey, director of fixed income strategy at Roubini's RBG Capital, said the supercycles feature periods of commodity booms followed by busts, and the US economy is on the verge of an inflationary period that will generate a sharp rise in prices.

Nicole Gelinas Supply-Side Financial Reform Congress should unleash free markets to help protect consumers. 8 March 2010 Senate Democrats have tried for weeks to get Republicans to support the showpiece of their financial-reform package, a consumer financial-protection agency that would shield regular Americans from predatory financiers. But even the nimblest public agency cannot protect consumers from the biggest threat to their financial health: owing too much money. That threat will exist as long as the financial industry faces no ultimate market penalty—the consistent threat of failure—for lending too much too freely. The proposed agency has a worthy goal. As Connecticut...

The U.S. Senate voted Wednesday to extend a host of soon-to-expire elements of last year's economic stimulus measure, including help for the jobless and money to help financially strapped states pay for health care for the poor. The 62-36 vote came over protests from conservatives who say the bill adds too much to the $12.5 trillion national debt. Six Republicans joined all but one Democrat in voting for the bill. The plight of the jobless and the political power of an annual package of tax breaks powered the measure through the Senate, even though it would add more than $130...

The current American federal deficit (as of March 2010) is about $30,000 per person -- including children, the sick, crippled, homeless, and retired. For people who work, the deficit amounts to $60,000 each. Government debt grew by a sickening $5,000 per head last year (2009). And it's scheduled to grow by slightly more this year (2010). The current national debt ceiling is 14.3 trillion dollars, or one full year of America's income. Now this is an evil almost beyond compare. Whatever government "investments" this amount represents, and however many irresponsible Big Businesses were recently rescued by it, and however much...

(Reuters) - With economic policy stimuli already at full tilt, no government wants an overvalued exchange rate to slay recovery, and the rival "soft currency" needs are producing some elaborate rhetorical jousting. The problem is that major exchange rates -- at least those between the developed G4 economies of the United States, euro zone, Japan and Britain -- are largely market determined and difficult to control. There's no magic wand to conjure up devaluation and the monetary and fiscal levers that could possibly engineer a free-floating depreciation are near exhausted. G4 interest rates remain near zero. New money and liquidity...

CHICAGO (MarketWatch) -- Credit-card debt has been falling for 16 straight months but consumers aren't paying off their financial obligations as much you might think. Instead, they're walking away from the debt, forcing credit-card issuers to write off as much as 90% of that reported drop, according to a new report by CardHub.com. U.S. banks charged off a record $83.3 billion in credit-card losses last year. That makes up the bulk of the $93.2 billion drop in outstanding credit-card debt that was reported by the Federal Reserve for 2009.

In America, we are beginning to sense a nasty reality that President Obama must acknowledge: Our worst economic problems lie ahead, and fixing those problems is going to hurt — plenty. Our federal government now runs a con game that promises people a level of financial security impossible to deliver. Honoring Medicare and Social Security obligations alone will require confiscatory taxation capable of killing off prosperity. And so it is time to cure our nanny-state insanity and get back to basics.

review the latest report from the Congressional Budget Office. In its recent budget report, the White House forecast budget deficits totaling $8.6 trillion over the next decade... CBO, however, says even that mind-boggling projection is too low. In fact, the nonpartisan budget crunchers estimate, the cumulative deficit from 2010-2020 will be $9.8 trillion. $9.8 trillion: The cumulative budget deficits from 2010-2020 given Obama’s plans, according to CBO. In other words, we will average a $1 trillion deficit over the next 10 years. 90 percent: The public debt as a share of the total economy by 2020 given Obama’s plans, according...

Greek Prime Minister George Papandreou will seek President Obama's support at the White House on Tuesday for a European campaign to crack down on global financial speculation that critics say has exacerbated Europe's worst debt crisis in decades. The U.S.-born Papandreou, who assumed Greece's highest office in October, is pushing a plan in Europe that would impose new limits and stricter monitoring on complex and largely unregulated financial bets. Officials in Europe have blamed investors for manipulating the price of Greek bonds, fueling higher borrowing rates across Europe and accelerating the euro's fall against the dollar and other currencies. "Together...

Obama's budget deficits were going to be huge. We all knew that. But now, it is even worse. The Congressional Budget Office now predicts that Obama's budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That's $1.2 trillion more than predicted by the Administration.

Judging from the noises emanating from some corners of Washington these days, the federal debt has assumed pride of place as the source of national anxiety. President Obama has called for independent commissions to seek ways to reduce spending. The media are filled with talk of America's path of financial suicide; economists warn that the debt crisis in Greece is a dry run for the cataclysm that awaits America and the world as U.S. deficits and debt balloon. The numbers are undoubtedly big, running into many trillions of dollars. The percentages are also daunting, with projections of total gross debt...

The Fastest Growing Export of the Western Banking Industry is Fraud Submitted by smartknowledgeu on 03/08/2010 06:17 -0500 Despite the fact that nearly all of the macroeconomic trends I have predicted since 2006 on my blog, the Underground Investor, have come true, the percent of people that disagree with my predictions for 2010 and 2011 still outnumber those that agree by a factor of ten to one. There is a rational explanation why the public-at-large still grants a great deal of validity to the opinions of people I like to call the “men who cry wolf” – Ben Bernanke, Timothy...