Economy, spending, and debt
"...maybe a massive bout of global inflation is the only way forward." - Alen Mattich, WSJ Those crazy moonbat goldbugs over at Wall Street Journal are at it again. Next thing you know they'll be advising the plebes to buy gold. "When set against the fact that the government has lost control of its finances, [...]
Do not ask, ‘Who is destroying the world?' You are. Say whatever you want about Ayn Rand, some of the ideas in her epic tome "Atlas Shrugged" should be required reading in American schools. In our previous post, we introduced the idea of money and the manipulation (destruction) of its value. Without further comment, [...]
This won't sit well with some people: Gold isn't a commodity. There. I've said it. - WSJ's Jeff Opdyke Wall Street Journal is not some goldbug rag. The idea that the U.S. dollar is no longer the envy of the globe is becoming mainstream. Goldbugs, of course, are way ahead of this trend. WSJ's Jeff Opdyke [...]
One of the enduring legacies (hangovers, really) from the Great Depression is the notion that the government can and should actively manage the economy. Schoolchildren still are taught, and most of us still believe, that Comrade Roosevelt's massive government programs were instrumental in ending the Great Depression. The fact is that nothing could be further [...]
Very few people appreciate the extent to which the dollar is embedded in world trade, and what it means for the U.S. Dollar to be the world's “reserve currency”. In fact, two-thirds of world trade is conducted in U.S. Dollars. The strength of the dollar is based on the strength of the U.S. economy. Historically, [...]
Presented without comment, other than DUH! Full article here. A new Rasmussen Reports national telephone survey finds that 75% of Likely Voters prefer free markets over a government managed economy. Just 14% think a government managed economy is better while 11% are not sure. These figures have changed little since December. Not surprisingly, America’s Political [...]
Neel Kashkari, formerly VP at Goldman Sachs, formerly director of the popular TARP bank bailout program that stole $700 Billion from taxpayers and rescued the banks and the banking class from their own stupidity, has some advice for the taxpaying middle class: stop being so selfish and get ready to sacrifice for the common good. [...]
http://imarketnews.com/node/17229 [emphasis added] ATHENS (MNI) - In a very rare move, the Greek government Wednesday invoked a national emergency provision to force striking fuel-tanker drivers go back to work. The government announced it would issue the civil mobilization order, normally used in times of war or national disaster, and send letters to each of [...]
Government employees are paid with tax money. When the economy is booming, so are tax revenues. What does government do with extra tax money? Return it to the people? Heavens no! They hire more government employees! When we're in the middle of a financial bubble, we think we can afford all sorts of things we [...]
The Obama White House has released a new report that claims that the American Recovery and Reinvestment Act (ARRA) has saved or created millions of jobs. Mini-Me crows about it: “Everyone now acknowledges there would be somewhere between 2.5 (million) and 3.6 million fewer jobs available today, fewer people working today, were it not for [...]
