Among her many devastations, Hurricane Sandy swamped the port of Newark and managed to submerge 16 Fisker Karma electric hybrid automobiles, which then caught fire and exploded. Fisker could not explain the sudden combustion, not the first problem for the company touted by President Obama, and which received federal loan guarantees of $529 million…
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How much gold would the U.S. Treasury have to pay out from the nation’s bullion depository at Fort Knox to fully pay off the national debt of $16.222 trillion (as of 1 November 2012)? Quick side note: That figure is some $5.595 trillion higher than the $10.627 trillion it was back on 20 January…
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As this column shows, government waste, fraud and abuse is rampant at all levels. Seldom, however, has any politician attempted to give divine sanction to government greed in the style of California Governor Jerry Brown, who once wanted a California space program and recently signed off on a $68 billion railroad train. The former…
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How bad has the growth of debt become among the world’s major nations? So bad that Christine Lagarde, the managing director of the International Monetary Fund, a lender of last resort for distressed nations, has become extremely concerned about the level of debt overhang: Ms Lagrde had earlier said that public debt in developed…
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