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Entries for 'Trillion'

Black Budget: US govt clueless about missing Pentagon $trillions

Youtube | The Pentagon has secured a 630 billion dollar budget for next year, even though it's failed to even account for the money it's received since 1996. A whopping 8.5 trillion dollars of taxpayer cash have gone to defence programmes - none of which has been audited. This black budget has sparked concerns over potential fraud, as Gayane Chichakyan reports.

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War & The Military, Video :: 1334 Views :: 0 Comments
Jim Rogers – US Debt Is MUCH Bigger Than Declared!

Investment Watch | Venture Capital, Katie Pilbeam talks about the worrying new estimations on US debt figures with Jim Rogers, a legendary investor author of Street Smarts: Adventures on the Road and in the Markets. As Europe bears the burden of austerity, million-euro salaries continue to be dished out to bankers

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Economics, Video :: 820 Views :: 0 Comments
University of California Study: National Debt Is Really $70 Trillion

New American | James Hamilton, an economics professor at the University of California, San Diego, just published his best estimate of the federal government’s “off-balance-sheet” liabilities, in which he concludes that the real national debt, popularly estimated to be $16.9 trillion, is in fact more than four times larger: $70.086 trillion. This is because of decisions to leave out certain unfunded liabilities when the national debt is counted. He explains:

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Economics :: 667 Views :: 0 Comments
Fed Board Member Conflicts Detailed by GAO: Banks and Businesses Took $4 Trillion in Bailouts

Common Dreams |  More than $4 trillion in near zero-interest Federal Reserve loans and other financial assistance went to the banks and businesses of at least 18 current and former Federal Reserve regional bank directors in the aftermath of the 2008 financial collapse, according to Government Accountability Office records made public for the first time today by Sen. Bernie Sanders.

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Economics :: 1291 Views :: 0 Comments
The Global Elite Are Hiding 18 Trillion Dollars In Offshore Banks

Economic Blog | In recent days, the fact that Mitt Romney has millions of dollars parked down in the Cayman Islands has made headlines all over the world.  But when it comes to offshore banking, what Mitt Romney is doing is small potatoes.  The truth is that the global elite are hiding an almost unbelievable amount of money in offshore banks.  According to shocking research done by the IMF, the global elite are holding a total of 18 trillion dollars in offshore banks.  And that figure does not even count any money being held in Switzerland.  That is a staggering amount of money.  Keep in mind that U.S. GDP in 2010 was only 14.58 trillion dollars.

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Economics :: 3737 Views :: 0 Comments
Exclusive: U.S. sees lifetime cost of F-35 fighter at $1.45 trillion

Reuters | The U.S. government now projects that the total cost to develop, buy and operate the Lockheed Martin Corp F-35 Joint Strike Fighter will be $1.45 trillion over the next 50-plus years, according to a Pentagon document obtained by Reuters. The Pentagon's latest, staggering estimate of the lifetime cost of the F-35 -- its most expensive weapons program -- is up from about $1 trillion a year ago, and includes inflation.

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War & The Military :: 807 Views :: 0 Comments
Student-Loan Debt Tops $1 Trillion

Telegraph | The amount Americans owe on student loans is far higher than earlier estimates and could lead some consumers to postpone buying homes, potentially slowing the housing recovery, U.S. officials said Wednesday. Total student debt outstanding appears to have surpassed $1 trillion late last year, said officials at the Consumer Financial Protection Bureau, a federal agency created in the wake of the financial crisis. That would be roughly 16% higher than an estimate earlier this year by the Federal Reserve Bank of New York.

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Economics :: 882 Views :: 0 Comments
One Trillion Not Enough to Bail out Euro Zone

Net Right | Sometimes, government officials tell the truth, and when they do, watch out. It might be a good idea to hold on to your wallet. A recent example is International Monetary Fund Managing Director Christine Lagarde commenting on the European debt crisis in Berlin on Jan. 23.  Even though the European Financial Stability Facility (EFSF) has already committed €440 billion, the European Central Bank (ECB) €220 billion, and the IMF €78.5 billion to propping up troubled sovereigns Portugal, Italy, Ireland, Greece, and Spain (PIIGS) — some €738.5 billion, or almost $1 trillion in total — Lagarde said, “these moves form pieces, but pieces only, of a comprehensive solution.”

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Economics :: 1401 Views :: 0 Comments
Obama to seek $1.2T debt limit increase this week

CBS |  It seems like the U.S. government just went through a debt limit crisis, but if you check the numbers, you'll find that Uncle Sam is running out of money again and will need to borrow more. Lots more. The Treasury Department put out word today that by the close of business on Friday, President Obama will have certified to Congress that the National Debt is within $100 billion of the debt limit and must be raised again: up $1.2 trillion to $16.394 trillion - the highest in U.S. history.

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Economics :: 1965 Views :: 0 Comments
Waste Of Money? Military Blew $1 Trillion On Weapons Since 9/11

Mother Jones | Capitol Hill conservatives and Pentagon brass fighting cuts to defense spending have argued that the military is limping off the battlefield with decrepit hardware. It's quite the sob story: At a hearing last week, Rep. Buck McKeon (R-Calif.), the chair of the House armed services committee, cut his remarks short to literally cry for "these young men that are going outside the wire over in Afghanistan, every day on patrol."

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War & The Military :: 1965 Views :: 0 Comments
15 Trillion Dollars In Debt, 45 Million Americans On Food Stamps And Zero Solutions On The Horizon

Economic Collapse Blog | NHow does a country end up 15 trillion dollars in debt?  30 years ago, we were just a little over a trillion dollars in debt.  How in the world do supposedly rational people living in "the greatest nation on earth" allow themselves to commit national financial suicide by allowing government debt to explode like that?  It almost seems like there should be some sort of official ceremony in Washington D.C. to commemorate this achievement. 

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Economics :: 1254 Views :: 1 Comments
$16 TRILLION – Fed bails out the world, 0% interest, and no payback!

Stand Up America | The fact that the Federal Reserve is neither “Federal” nor a “Reserve,” and also not part of the official Federal Government is now clear to most of the world, and certainly to the concerned citizenry of the USA, finally. What is not known, but bandied about on the internet for quite some time is: Where did the money go?

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Economics :: 1866 Views :: 0 Comments
Unpaid student loans top $1 trillion

Politico | Giving validation to Occupy Wall Street protests over the increasing burdens of student debt, a new report indicates that the amount of total amount of outstanding student loans will exceed $1 trillion for the first time ever this year. In addition, the amount of student loans taken out last year was greater than $100 billion, another new record, according to USA Today, citing the Federal Reserve Bank of New York.

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Economics :: 1633 Views :: 0 Comments
Christine Lagarde: IMF may need billions in extra funding

Telegraph | The head of the IMF has warned that its $384bn (£248bn) war chest designed as an emergency bail-out fund is inadequate to deliver the scale of the support required by troubled states. In a document distributed to the IMF steering committee at the weekend, Ms Lagarde said: "The fund's credibility, and hence effectiveness, rests on its perceived capacity to cope with worst-casescenarios. Our lending capacity of almost $400bn looks comfortable today, but pales in comparison with the potential financing needs of vulnerable countries and crisis bystanders."

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Economics :: 1726 Views :: 0 Comments
Goldman Takes a Dark View, Tells Clients to Bet Against Recovery

WSJ | A top Goldman Sachs Group Inc. strategist has provided the firm's hedge-fund clients with a particularly gloomy economic outlook and suggestions for how these traders can take advantage of the financial crisis in Europe.In a 54-page report sent to hundreds of Goldman's institutional clients dated Aug. 16, Alan Brazil—a Goldman strategist who sits on the firm's trading desk—argued that as much as $1 trillion in capital may be needed to shore up European banks; that small businesses in the U.S., a past driver of job production, are still languishing; and that China's growth may not be sustainable. Here we go again…solving a debt problem with more debt has not solved the underlying problem. ...Can the US continue to depreciate the world's base currency?” —From a report by Goldman strategist Alan Brazil suggesting how to profit from bad economic news

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Economics, Video :: 2751 Views :: 0 Comments
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