"When the US invaded Iraq in March 2003, the Bush administration estimated that it would cost $50-60bn to overthrow Saddam Hussein and establish a functioning government. This estimate was catastrophically wrong: the war in Iraq has cost $823.2bn between 2003 and 2011. Some estimates suggesting that it may eventually cost as much as $3.7tn when factoring in the long-term costs of caring for the wounded and the families of those killed."Read more »
This guy is brilliant! A hilarious take on the sequester and debt ceiling. David Angelo is quite a talent.Read more »
A brilliant market solution to the "student debt crisis." People volunteer time and others donate money to pay down their debts. A solution that doesn't involve the government just giving people money after they were fiscally irresponsible.Read more »
Suicide rate in Greece jumped 40% year-on-year in first five months of 2011.Read more »
Capitalism Without Capital? (E226) - YouTube, Keiser Report: Steve Keen on why UK debt collapse will be much worse than USRead more »
WASHINGTON (NBC) -- The United States lost its top-notch AAA credit rating from Standard & Poor's Friday, in a dramatic reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.Read more »
A visualization of US debt stacked in 100 dollar billsRead more »
"...you get a grand total of somewhere between $1.01 and $1.35 trillion spent on national defense in 2010." Now couldn't we have allocated at least some of the $1,000,000,000,000 to helping our economy stay alive?Read more »
The debate in Washington, D.C. over the federal debt continues as the Aug. 2 deadline for raising the “debt ceiling” approaches. Standard & Poor's has already reported that it would cut the U.S. credit rating from AAA to D, the last rung on its scale.Read more »
BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.Read more »
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