Honestly, this material is not difficult and the data is readily available. I always have trouble understanding why people don’t simply look at the facts instead of trusting the media. Nearly everyone in the media, including most of those who report on economics, are illiterate about even the most basic economic concepts. Remember, their college degrees are in journalism or communications. Somewhere along the way an editor decided they knew some economics. They don’t. Continue Reading →
As far as I can tell, Treasury is engaging in normal portfolio reallocation as the debt nears the limit. They are selling securities held by the government to the public. This changes the composition of the portfolio, but does not change the total. However, it does provide funds for the government to continue operations as those sales of intragovernmental holdings bring cash into the treasury. Continue Reading →
The U.S. federal government debt is owned by many different people, governments, businesses, and institutions. But it’s important to understand at least the basic components of the debt and how they relate to each other. I hope this has been a small contribution to this discussion. Continue Reading →
Yes, you’re reading that correctly. In the first quarter, the actual ratio was 100.64%. As always, my methodology is reasonably transparent. Click here to download the Excel 2011 workbook.
I’m gonna open a bottle of wine. Continue Reading →
Somewhere, John Maynard Keynes (a loyal British citizen) is spinning in his grave. Continue Reading →
Are there any three words more often confused in the media? … This article will introduce basic – very basic – concepts. Frankly, no U.S. citizen should be allowed to vote unless they understand this stuff. Continue Reading →