The U.S. Debt: Big Problem or Big Hype?

Are fears about the burgeoning U.S. government debt merited, or overblown? In an interview with CNBC, University of Texas Economics Professor James Galbraith says that the debt discussion involves a good deal of “fearmongering”, and that low interest rates mean the U.S. will have “no problem” financing its debt. (In fact, according to CNBC, the amount of interest the U.S. paid on its debt in 2009 was actually lower than it was a decade earlier,… Read More

Schiff: Any Stimulus Plan Will Be Disastrous

While investors are eagerly waiting to hear what the final economic stimulus package will include, author Peter Schiff, who predicted the recent housing and stock market collapses, has been issuing dire warnings about whatever version of the plan is approved In an interview with Yahoo! TechTicker’s Aaron Task, Schiff says passage of the stimulus plan will do “the exact opposite of what President Obama is saying,” referring to Obama’s statements about disaster following if the… Read More

They Saw The Trouble Coming — And Some See More Ahead

Kiplinger’s takes a look this week at nine people who “called it right” in predicting the credit crisis and market collapse, and asks what they see coming for the year ahead. Some — like Jeremy Grantham, Robert Rodriguez, and Nouriel Roubini — are people whose opinions we’ve detailed in past posts, but here’s a look at the predictions (most of which have to do with the economy, not the stock market) for some of the… Read More