The Republican-held House of Representatives has passed Paul Ryan's FY 2014 budget, as well as the final version of a "continuing resolution" that will fund the federal government through the end of the current fiscal year. The latter item locked into place the reduced spending baseline established by the sequester. It does not defund Obamacare, although the GOP FY 2014 budget does. As I wrote earlier, the House rejected a trio of Democratic alternative budgets yesterday, including the Senate Democrats' offering -- which raises taxes by $1.5 trillion, increases overall...
Part IV Interest rates will go up, how soon? It all depends on when Fed. Chairman Bernanke decides to shut down the printing of "funny money". As the value of our dollar retreats, consumers will feel the effects of inflation kick in as their buying power continues to decline. With less money being pumped into our economy - up goes the price of almost everything. You can only continue to devalue your currency so long before the bottom falls out. Don't believe me, check out our latest casualty whose short-sighted monetary policy put its banking system on the ropes - Cyprus.
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