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What is Causing Federal Deficit, Iraq War or Stimulus Spending?
The following are facts, based on the government’s own figures.Obama’s stimulus, passed in his first month in office, will cost more than the entire Iraq War — more than $100 billion (15%) more.Just...
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Why is Illinois Using Credit Default Swaps?
You remember credit default swaps, right, the financial “instrument” that pricked the housing and economic bubble?Illinois is “enjoying” the same kind of debt bubble that led the nation into its...
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Illinois Bond Rating Goes to the Dogs, Now Lower than Mexico
Illinois capital-markets director John Sinsheimer and Citigroup Inc. bankers took a globe-girdling trip from the U.K. to China in June to persuade investors that the state’s $900 million of Build...
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Progress Comes from Enterprise and Capitalism, Not from Progressives
“In the year 1000, the average infant could expect to live about 24 years. A third died in the first year of life. Hunger and epidemic disease ravaged the survivors. By 1820, life expectation had risen...
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Who Says Illinois is Broke? We’re Spending $200 Million on Hotel Expansion
In case you missed it, Medill Reports that the Metropolitan Pier and Exposition Authority(McPier) is taking taxpayer money to invest in enterprise which benefits McPierThe $1.1 billion bond offering...
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Beating the Bears on the Market
A prominent investment story in last Friday’s Wall Street Journal said that so far in 2010 Bridgewater Associates, a Connecticut-based hedge fund run by Ray Dalio, had racked up a 38% return.But that’s...
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Economics and Politics Played out Tuesday
Back in 1992, the Democrats’ mantra was “It’s the Economy, Stupid.” The economy was recovering from the 1990-91 recession, but job growth was slow and the unemployment rate held stubbornly in the...
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Truthfully, Elections Have Consequences
Washington is still playing political games with the December 31, 2010 expiration of the Bush tax cuts. On Saturday, Democrats forced a vote to extend the tax cuts for most, but allow them to rise on...
View ArticleIllinois is the "state most likely to default"
The cost of insuring Illinois's bonds against default rose to the highest level in five months as the state headed for the new year without a plan to finance a $3.7 billion pension-fund... (If you like...
View ArticleIllinois bonds worse than corporate junk
Illinois credit ratings are the equal of corporate junk bonds, yet Illinois had to pay significantly higher interest rates to lure investors to buy the crap.According to the Wall Street...
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