By Anthony Rubinich In American History, there has surely never been an election quite like this. Between Hillary Clinton and Donald Trump, I wish I could say that the stakes weren’t high. Unfortunately, this is a very important election. The winner of the election will inherit a $19 trillion debt.
By Anthony Rubinich On July 4th 1776, the American colonies declared independence from Great Britain. In 2016, the island territory of Puerto Rico is fighting for a different kind of independence. As the Revolutionary War was fought with bayonets and muskets, Puerto Rico’s fight for financial
By Anthony Rubinich On June 23rd, 2016, the British people voted to leave the European Union, the first time in EU history. While to the casual listener this would appear as a seemingly innocuous event, the decision has global economic and social implications. Within hours of the announcement,
Not only did Argentina lose the World Cup final in a heartbreaker this past weekend to Germany, they now must turn their attention to a problem that could potentially once again cripple their economy. In 2001, Argentina succumbed to what was at the time, the largest sovereign default in history.
Before 2008, the federal government held less than $500 billion in cash, bonds, mortgages, and other instruments. Today, its portfolio has expanded to $1.1 trillion, financed mostly through borrowing. Some of the debt was due to the financial crisis firefighting - but that debt has been sold off
In the past two newsletters my feature stories were about the “fiscal cliff” and how things were playing out. The cliff is the combination of tax increases, spending cuts, and the hitting of the debt ceiling limit all happening early 2013. Washington reached a last minute agreement on January 1st