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The impending Social Security crisis

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Posted by George Regal
Categories: Taxes, US Economy,

Social Security (SS) is called the third rail of American Politics; when, in truth, it’s just a third rail period!  Within the next ten years outlays for Social Security will exceed incoming revenue from SS taxes and things get really interesting.  Now, you may be saying, what about all the money in the SS Trust Fund? Well, my friends, it’s time for a little truth about Social Security. Since its inception, Social Security has generated an …

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Pain at the Gas Pump

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Posted by George Regal
Categories: Business, US Economy,

This issue was displaced somewhat by the current economic news, but it is still near and dear to our hearts because we feel it everyday!  What’s behind it?  If you’re tuning into the cable news channels you’ve probably heard that it’s greedy oil companies, speculators (an upcoming topic), increased demand in India and China, or because we restrict drilling. Well, which is it? As much as I hate to ruin a good myth, and this …

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What Is The Federal Reserve Doing?!?!

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Posted by George Regal
Categories: Editorials, US Economy,

When economist Milton Friedman celebrated his 90th birthday, Ben Bernanke, the current Federal Reserve Chairman, said the following: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again. We did it!  Quite an admission isn’t it?  Well, …

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Big Trouble in Little Washington

According to President Bush this bailout is a good deal for Main Street.  He assures us that the tax dollars invested will pay for themselves and then some.  Oh really?  That’s the definition of a good investment. Well, if this is such a good investment why aren’t private investors rushing in to snap up these assets and companies at bargain prices?  Hint: Because they aren’t good investments! Adding the $700 billion to the rest of …

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Anatomy of a Crisis

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Posted by George Regal
Categories: US Economy, Wall Street,

In the late 90’s the Clinton Administration put pressure on lenders to offer riskier loans (sub-prime) to the poor, and those with poor credit, to increase home ownership. This was accomplished by lifting restrictions on Fannie Mae and Freddie Mac, allowing them to buy these risky mortgages on, what is called, the secondary market. By expanding the loans that Fannie and Freddie could buy, banks were able to extend more of these loans since they …

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Do People Give Ron Paul Enough Credit?

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Posted by Sal Traina
Categories: US Economy, Videos, Wall Street,

He predicted this mess we’re in now in 2003, almost three years before John McCain predicted it. Ron Paul is not my first choice for President, but he deserves way more credit than he gets. His strong suit is economics, and he could mop the floor with McCain and Obama on this subject. On Sept. 10, 2003, U.S. Rep. Ron Paul, R-Texas, testified before House Financial Services Committee, which was holding hearings regarding special privileges …

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