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Are we to believe that Obama will rescind the excess appropriations? Hardly. And since pay-go is dead, most of this new spending will not be offset. It will add to deficits and debt. It’s the Greek disease. The welfare state run amok. Right here at home.
The remedies being floated to fix Europe range from the mild to the extreme—it could be either a healthy dose of government intervention or surgery, so to speak, getting rid of some of the weaker euro-zone countries.
I thought I understood how dire things were in Europe. Then I saw it explained by Clarke and Dawe. Troubling.
Once upon a time, the European Economic Community-remember that quaint post-World War II institution-thrived without a single currency. A larger European Union can again, but it needs to jettison the fantasy that the benefits of capitalism can be accomplished without adequate incentives to work hard and invest.
Europe's travails can and should be teaching us something: Do not wait until it is too late to get your fiscal house in order.
One day Team Obama announces a plan for enhanced rescission authority to impound wasteful spending. The next day the House surfaces a $200 billion “stimulus” plan to spend on transfer payments for welfare, even more unemployment compensation, still more Medicaid, and a bunch of special-interest subsidies.
Traders fret the only thing that will halt the volatile selling in risk assets is a clear solution to Europe's sovereign debt crisis, and that seems elusive.
Treasury Secretary Tim Geithner is urging Europeans to conduct some form of a banking stress test, a senior Administration official told CNBC Tuesday.
The next financial Tsunami is emerging and will ripple to America, just as our mortgage debacle gave Europe fits.
The Euro is in big danger. German patience, if it can be called that, will reach the limit. The US voter should realize we are bailing out the euro zone, and who signed up for that?
The EU faces some of the same structural and debt problems then faced by the United States — a North-South (or North-Periphery) divide; and state fiscal budgets run amok.
Sovereign debt concerns in Europe have taken hold of global stock markets and the 'flight-to-safety" flow into US bonds will continue, experts told CNBC.
The debt crisis is a game changer for the market and Europe is now at risk of heading into a double-dip recession, Arnab Das, managing director of market research and strategy at Roubini Global Economics told CNBC Monday.
Cramer doubts it will happen, but here's how you survive in the meantime.
It wasn't just your stock portfolio that got banged up by Europe's sovereign debt crisis—the U.S. economy may also be a little bruised.
Merkel is showing the rest of Europe that they are serious about their own deficits and are serious about the rest of Europe following their lead.
Dread of potential new financial regulations and late-week risk-trimming raised the anxiety among U.S. traders on Friday, said Wall Street traders and analysts.
The Senate approved a sweeping Wall Street reform bill on Thursday night, the biggest overhaul of financial regulation since the 1930s. Art Cashin, director of floor operations at UBS shared his insights on the bill.
The European debt crisis will deliver a "meaningful hit" to global growth and the recent selloff in stocks indicates the global economy has major structural issues, Mohamed El-Erian, CEO and co-Chief Investment Officer of Pimco, told CNBC Friday.
Stocks could see another fierce move down, but some traders and strategists say the worst rout since the 14-month rally began may be closer to its end than beginning.