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Both houses of Congress approved a $2.2 trillion budget resolution last week that puts limits on the size of the tax cut--$550 billion in the House and $350 billion in the Senate. When those numbers are reconciled, the tax cut will be less than Bush requested, but it's still a load. Bush wants to end taxation of stock dividends and accelerate income-tax reductions already in the pipeline. The cuts have been criticized for probably delivering too little immediate punch while risking fiscal disaster in the long term. But they could help Bush avoid the fate...
Anticipation of the war in Iraq has cost the stock market almost $1.1 trillion since September 2002, according to a study released by Harvard and Stanford researchers based on people’s bets on when Saddam Hussein will be deposed...
...march, about 95 percent of the war’s effect on the U.S. stock market has already been priced in and $1.1 trillion of the nation’s wealth has disappeared,” Justin Wolfers, the study’s co-author and an assistant professor at Stanford’s Graduate School of Business said in a press release...
Half of the nation's $6 trillion of mortgage debt could be refinanced now at a rate that would reduce monthly payments enough to recover all expenses within a year, estimates Mark Zandi, chief economist at Economy.com This is great news on both large and small scales. For homeowners it means more available cash to spend on things or pay down debts...
Enacting policies of accessible property rights—to be based in the extralegal laws of organic communities—would have incredible global implications. The valuation of worldwide underground assets at $9 trillion nearly equals America’s $10 trillion Gross Domestic Product (GDP). De Soto writes that the value is nearly that of “all the companies listed on the main stock exchanges of the world’s twenty most developed countries: New York, Tokyo, London, Frankfurt, Toronto, Paris, Milan, the NASDAQ, and a dozen others...