The Italians are electing their 63rd government in the last 68 years. This annual anarchy was only interrupted once since World War II, when Silvio Berlusconi from 2001-2006 became only Italian Prime Minister to ever finish a full five-year term. Shortly thereafter, Mr. Berlusconi was forced to step down after this picture of his infamous [...]
READ MORE »Moody’s Credit Rating Service just announced the ominous trend that credit quality in the municipal bond market is falling at the fastest rate since the collapse of Lehman Brothers in 2008. Data released showed that 5.3 times as many municipal bonds were credit downgraded over the three last months than were upgraded. Moody’s emphasized that: “Downgrades dominated [...]
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In a stunning reversal of voter opinions since the first weekend in August; the Rasmussen Reports national telephone survey reveals that “Likely U.S. Voters” has flipped from 75% feeling it is at least somewhat important for the government to launch a new stimulus program to create jobs (57% saying “it is Very Important”), to just 38% [...]
READ MORE »The tremendous 7% crash in stock market prices over the last five trading days serves as over-whelming evidence that the President of the United States or someone in his inner circle leaked “material non-public information” to Wall Street traders that the AAA credit rating of the United States of America would be downgraded.. Leaking of [...]
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It was sad to watch Federal Reserve Chairman Ben Bernanke being forced to hold a political press conference for the first time in the Fed’s 102 year history. Bernanke nervously defended the merit of the Fed subsidizing $3 trillion in Congressional deficit spending and $2 trillion in Wall Street bail-outs; but he looked tired and [...]
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