Senate Republicans Offer Amendment to Stop $108 Billion Bailout to Foreign Countries

Kudos to these Senators for finding a way to preserve hard-earned taxpayer money: "U.S. Senators Jim DeMint (R-South Carolina), Orrin Hatch (R-Utah), David Vitter (R-Louisiana) and John Cornyn (R-Texas) today offered an amendment to the Economic Development Revitalization Act to roll back the International Monetary Fund’s (IMF) ability to use $108 billion in taxpayer dollars [...]

By |2011-06-18T10:49:02-04:00June 18th, 2011|Economy|1 Comment

Asset-Stripping: A Term To Remember

The principle purpose of banking is asset-stripping. What is asset-stripping? The best way to understand it is this: financial terrorism. It's really very simple, very insidious, very effective, and it wears a suit. First, it's important to understand the main operational aspect of banking: counterfeiting. Ooops, did I say counterfeiting? I mean "Fractional Reserve Banking." [...]

By |2011-06-14T14:56:15-04:00June 14th, 2011|Economy|3 Comments

Charlie Munger Draws a Bright Line

Bloomberg: Munger Says ‘Thank God’ Bailouts Came Before Handouts (Update1) I, for one, genuinely appreciate Mr. Billionare Munger speaking truthfully. "Charles Munger, the billionaire vice chairman of Berkshire Hathaway Inc., defended the U.S. financial-company rescues of 2008 and told students that people in economic distress should “suck it in and cope.” “You should thank God” [...]

By |2010-09-21T11:07:27-04:00September 21st, 2010|Economy|0 Comments

Recovery? WHAT Recovery?!

(Data sources are US CBO and Federal Reserve) The chart above (click, then click again to enlarge) shows three data sets: 1) in red, the federal budget deficit; 2) in dark blue, US Gross Domestic Product (GDP), the supposed size of the US economy; 3) in highlighted light blue, shows what US GDP would be [...]

By |2010-06-10T20:47:16-04:00June 10th, 2010|Federal Reserve, Uncategorized|0 Comments

Controversy Debates: Should the government bailout businesses?

We had our pilot last month and received lots of positive feedback. We have made the appropriate changes based on your suggestions. We are now ready to roll and have a great topic and speakers lined up! Should the goverment bailout businesses? That is the big question of the night for this Controversy Debate. Les [...]

By |2010-05-19T00:14:40-04:00May 12th, 2010|Uncategorized|1 Comment

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