insolvency

The woes Social Security faces have generated plenty of worried talk lately, but even if nothing changes, it'll be solvent until 2036. But Medicare, the other major government program that retirees rely on, is on course for financial disaster years sooner. That program, of course, is Medicare, and the funding situation for the portion of its benefits that retirees receive looks even scarier than Social Security's prospects right now.

The Federal Reserve is finally admitting that not all the big banks are healthy: Bank of America won't get to pay increased dividends. But none of those financial giants should be allowed to, and a logical look at the reasons they say they want to dole out the cash makes it totally clear why.

Losses on commercial property loans are one problem. But a bigger, often-overlooked, risk is the potential for CRE to be a drag on the U.S. economy for years to come, or its potential to trigger a slide back, into a double-dip recession.

They said it couldn't be done. They were wrong. Since the late 1970's I've been laughed at, both behind my back and in my face, for saying this day would come. Now, here it is. Your government, as proven by it's own financial declarations subject to GAAP calculations, is financially insolvent....

It started small last month, if you consider stranding 900 people on the wrong end of the planet "small." That's when the airline Zoom, which made regular transatlantic runs to North America, zonked out unexpectedly.The sudden death of airlines creates a ripple effect. Last week, another 2,500...