In this second installment, I bring you another veteran's opinion of the financial condition of the world. I heartily recommend listening to the entire interview with Felix Zulauf at KingWorldNews: Some highlights follow: Felix Zulauf: I think we are living in a time when we are going through many crises but the common denominator of [...]
For quite a number of years, many decades in fact, members of the Austrian School of Economics have been trying to convince Western governments that the Keynesian fiscal path they'd embraced could only end in a disaster of insolvency that devolved into a currency collapse. In 1940 in his landmark text Human Action Ludwig von [...]
Let's talk about economics. In fact, let's call this Econ 101. But I'm not an economist, so this is a layman's view. The first part of this essay is preaching to the choir for Tea Partiers, but it's important to the later parts, so bear with me. In order for wealth to be available for [...]
Virginia is blessed with ample, productive farmland; timber; mineral resources, including energy; established deepwater ports and shipbuilding; a centrally located air facility; and a populace that is hard working, fundamentally honest and leans fiscally conservative. What stands in our way? The problem is jamming Virginians into a mold through common national legislation that dictates every [...]
In case any of you have just returned from a two-week vacation on another planet, there are very serious economic troubles in Greece that have already begun to threaten other larger EU nations. The European monetary system is very interwoven. Major banks in various EU nations are holding debt from many other major banks and [...]
If you answered: "WE ARE!", you're absolutely correct! Here's the latest and greatest on the bankers' rape of the U.S. taxpayer. Many of you are following the "Greek Tragedy" that is, well, Greece. The Greek state joined the European Union a few years ago, under false pretenses. You see, there are sovereign debt limits imposed [...]
A recent article by Charles Schwab merits our attention: http://online.wsj.com/article/SB10001424052702303429804575149633264117248.html In February 2006, when Ben Bernanke was first sworn in as chairman of the Federal Reserve, the federal-funds target rate stood at 4.5%. That same year, the average yield on a one-year certificate of deposit was 5.4%. A retiree who diligently saved for a lifetime [...]
We are all being treated right now to the spectacle of Washington DC functioning at its finest: shaking down a major industry for campaign contributions. They just did it with "Health Care Reform", and now they're doing it again with the banks. Think of the tens, or even hundreds of millions of dollars that are [...]
It's time to face facts: the national government is broke. The following chart is from the website of the Federal Reserve. It shows federal expenditures (blue) compared to federal tax receipts (red). The difference between the two is, of course, the federal deficit, which has ballooned to truly historic proportions. Clearly, the path we're on [...]
