Last April, I warned that China is about to suffer the mother of all banking crises, caused by wildly aggressive expansion of bank lending. Now that vicious inflation has forced the communist authorities to slam the brakes on the economy,
“Wag the Dog” is a political strategy in which a national leader starts a military operation to divert negative attention away from himself. In 1997, Hollywood produced a Robert De Niro and Dustin Hoffman movie by the same name about
With a new poll showing over three-quarters of U.S. voters, including 63% of Democrat respondents, supporting a special prosecutor being appointed to investigate the Internal Revenue Service’s targeting of Tea Party groups, President Obama is being forced to nominate Republican James B.
The reign of the United States dollar as the only reserve currency in the world may be coming to an end. Over the last five years, the U.S.-centric balance of economic and military power has been destabilized with the crumbling
The United States Securities & Exchange Commission determined that the State of Illinois violated Federal Securities Laws by misstating the true financial health of the State’s depleted pension funds when it raised over $2.2 billion with multiple bond offerings from
President Obama has violated Rule 7 of Saul Alinsky’s 13 Rules for Radicals: “A tactic that drags on too long becomes a drag. Don’t become old news.” As Obama failed to leverage his reelection position of strength into fiscal cliff and sequester victories,
President Obama is considering naming Ernest J. Moniz as the next Secretary of Energy in apparent recognition that oil and gas development is the best potential revenue source available for the Administration to avoid the type of austerity spending cuts
Over the last two years, Federal Reserve Chairman Ben Bernanke has begun violating conservative monetary policies by funding a third of the Obama Administration’s $5.4 trillion deficit-spend-a-thon through multiple rounds of money printing, called Quantitative Easing. After thirty years of
California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget. Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create
Thirty years from now, historians will mark the assassination of America’s Ambassador to Libya on September 11, 2012 as a more important event than the terrorist attacks on September 11, 2001. On “9/11,” the United States’ self-appointed role to provide
We were severely criticized last week by the left and the right for publishing “CALIFORNIA DEFAULT RISK TURNS BROWN INTO A CAPITALIST.” The report highlighted that California Governor Jerry Brown is steam-rolling environmentalists and regulators to generate more state tax
The klaxon horn went off for California municipal bondholders when Moody’s credit rating service issued a report stating that the plummeting financial condition of many California counties, cities, school districts and other government agencies will soon result in large numbers
President Obama had good success at getting media coverage for using the term “Romney Hood” to slur Mitt Romney as an irresponsible and out-of-touch corporate elitist. The President’s strategy has been to constantly be on the attack to undermine the
There is nothing like the threat of insolvency and a downgrade to junk bond status to motivate traditionally liberal politicians to abandon the environmentalists who heavily fund their campaigns. Last week, Governor Jerry Brown of California tossed one of his
In a stunning development, President-elect Enrique Peña and his Institutional Revolutionary Party (PRI), who won control of Mexico’s government on July 1st, moved to dissolve the Agencia Federal de Investigación (AFI). Modeled after the United States FBI, the AFI was
The State of California was already facing a $19 billion budget deficit, shorted public schools $8 billion, and was set to release imprisoned rapists into “community probation” when the Legislature approved selling $4.6 billion in new state bonds to build
Conservatives should be ecstatic that Supreme Court Chief Justice John Roberts sided with the four liberal Justices ruling the Affordable Care Act (Obamacare) is constitutional as a tax, while siding with the four conservative Justices that the law is unconstitutional
Barack Obama’s Executive Order to suspend deportations of illegal aliens for two years will act as a magnet to motivate millions of people from around the world to come to the United States and claim they have been quietly living
The populist movement sweeping the world is a direct threat to China as globalization’s biggest winner. A rebellious tone has swept the world with the Arab Spring, Socialist victories in France and Greece, Argentina nationalizing oil assets, Indonesia imposing a
If there was an Academy of Motion Picture Arts and Sciences Award for the best acting performance by a CEO, Jamie Dimon of J.P. Morgan Bank would surely win the Oscar for his dismissal of a $2 billion off-shore derivative
“Only Nixon could go to China” is a political metaphor referring to the ability of a politician with an unassailable reputation among his supporters for staunchly representing and defending their values, to take actions that would draw vicious criticism and
Big Labor is about to be thrashed in the Wisconsin Primary election today, as rank and file Democrats refuse to be dominated by Big Labor Money. After national and local unions spent $35 million in the losing effort in 2010
The ballooning Orange County financial crisis continued its downward spiral as the State of California filed a lawsuit to force return of $73.5 million of property tax revenue the County skimmed from local schools and community colleges last November. It
With the recent revelation that the ultimate Washington insider, Jon Corzine, appears to have ordered the looting of hundreds of millions of dollars from customers at commodity broker MF Global, you would think crony capitalists would try to keep a
