(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 [...]
The next debate hosted by the Controversy Club is fast approaching. On Tuesday, June 15, Bill Kallio and Sidney J. Gunst, Jr. will debate the topic “Is Social Security Really Security?” The event is free and open to the public. Doors open at 6:00 pm. The debate runs from 6:30-8:00 pm. The location is: "The Place" [...]
In this final installment, I want to emphasize the connection between economics and politics. In my mind the two are interwoven and inseparable. Economics is about who produces what, and politics is about who gets to keep it. The political system is exactly as virtuous as are the people who comprise it. Activity in the [...]
This came out last year, but in case you haven’t seen it, have a good laugh at this great satire as comedian Tim Hawkins nails how our current government operates.
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 [...]
America’s fiscal situation is awful, but Europe’s is actually worse, if you can believe that. Unfortunately, our economies are tied together, so their problems become ours. I understand that peering into the dark eyes of a financial catastrophe isn’t funny, but sometimes we must find a way to have a few laughs to keep our [...]
True conservatives are usually in the "smaller government is better government" camp. Having more and more people being employed directly by the government will only make it harder to improve that government, as those government employees will be hesitant to vote in a manner that will negatively affect them. For example, when sanity hopefully again regains [...]
What a fitting coincidence that the DVD version of Tim Burton’s "Alice in Wonderland" movie was released last week, and the Senate also passed that strange financial reform bill! Starting with the ObamaCare mess, and now with this most recent piece of ill-begotten legislation, I feel like Alice, fallen down a rabbit hole and into [...]
There is a great article and video on Yahoo Finance that talks about how all the big Wall Street Banks are receiving loans from the government at near 0% interest and then the banks are turning around and lending that money back to the government at 3-4% interest.
This is a great visual to show the rate at which former presidents, Congress and current President Obama are spending our country into oblivion. I received a call from a reporter last week wanting to know the tea party response to the fact that Obama gave 98% of Americans a tax cut this year. Why [...]
