It’s a lawyer’s dream!
Officials have already drafted 13,000 pages of new regulations for the new ObamaTax law.
FOX News reported:
“With the Supreme Court giving President Obama’s new health care law a green light, federal and state officials are turning to implementation of the law — a lengthy and massive undertaking still in its early stages, but already costing money and expanding the government.
The Health and Human Services Department “was given a billion [...]
by Eric Janszen
â€¢ China tried to pop its property bubble once before but the global economic catastrophe caused the US financial crisis aborted the effort in 2008
â€¢ This week China re-launched the crash phase of its Greenspan Credit Bubble with Chinese Characteristics
â€¢ Watch out for flying bricks
Why donâ€™t central banks, and the governments they front for, ever learn? The only way to prevent macro-economic [...]
Take the most obvious example, the PBoC itself.Â The central bank officially has about $2.5 trillion in reserves.Â This by the way almost certainly understates its true position but letâ€™s ignore that for a moment.Â The PBoC has funded this position with an equivalent amount of RMB liabilities, which makes it very vulnerable to changes in the value of [...]
Thanks to successive years of fast economic growth and even faster government revenue growth, the official debt-to-GDP ratio was 17.7% at the end of last year, far lower than almost any other major economy.
The trouble is that excludes local government borrowing, the current surge in loans backstopped by Beijing and bad assets cleared from the banking system but still [...]