Tag Archives: Welfare-Warfare State

US International Capital Flows

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“The US Treasury released data last Thursday tracking international capital flows for the US through June. The outflows out of US securities was shocking. Especially troubling was the amount of US Treasuries sold by foreigners. Their outflows exceeded those from US bond funds. The data suggest that foreign investors may have been more spooked by the Fed’s tapering talk in May and June than domestic investors.  As the US federal deficits have swelled, the US government has become more dependent on the kindness of strangers. Apparently, they are losing their interest in helping us out with our debts.”

http://blog.yardeni.com/2013/08/us-international-capital-flows-excerpt.html

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Decline and Fall: The Second Stage is Anger

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C4SSLogo22

“Not too long ago, I predicted that if I live to the average American male lifespan of 76 — I’m 46 now — I’ll have outlived the United States as we know it. At the time, I feared I was being over-optimistic, but lately I’m leaning the other way and thinking that my timetable may have been unduly timid. The recent temper tantrums of the American political class and its toadies abroad bring to mind an old saying (incorrectly attributed to Gandhi) — ‘first they ignore you, then they laugh at you, then they fight you, then you win’ — and the Kubler-Ross model of grief. Our would-be masters appear to have moved forward from ‘denial’ to ‘anger’ in a big way.”

http://c4ss.org/content/20941

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The New Deal Origins of Fannie Mae and the Government-Housing Complex

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“Fannie Mae is a classic crony capitalist progeny of the New Deal that began life in 1938, quite innocently, as still another ad hoc New Deal program to boost the depression-weakened housing market. It grew into something quite different: a monster that deeply deformed and corrupted the nation’s entire financial system seventy years later. The policy aim of Fannie Mae was ‘forcing water to flow uphill’ in the residential mortgage market so that low-rate thirty-year home mortgages became available to wage-earning households of modest means. Such mortgages did not then exist for a good reason: they were not economic.”

https://mises.org/daily/6440/The-New-Deal-Origins-of-Fannie-Mae-and-the-GovernmentHousing-Complex

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“Government Laboratory” for “Unlimited Taxpayer Risk” Now Slated for Demolition

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“House Financial Services Committee Chairman Jeb Hensarling (R-TX) has described Fannie and Freddie as the product of a ‘government laboratory’ and one that exposes taxpayers to ‘unlimited risk.’ Hensarling and others in the House are working on legislation to end the companies for good. Now that the president is on board, with apparent bipartisan support, it seems that reality may not be far off.  Investors appear to be speculating on news the feds may actually pay off debt to taxpayers and recapitalize.  Since liquidation appears to have broad support in the government, Fannie and Freddie look like stock to steer clear of.”

http://dailyreckoning.com/government-laboratory-for-unlimited-taxpayer-risk-now-slated-for-demolition/

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Watchdog: Fannie, Freddie should be required to recognize bad mortgages ‘immediately’

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“Fannie Mae and Freddie Mac are masking billions of dollars losses because of the level of delinquent home loans they carry, a federal watchdog said, and it said the companies should be required immediately to recognize the costs of some bad mortgages.  Fannie Mae and Freddie Mac were seized by the U.S. government in September 2008 as rising mortgage losses threatened them with insolvency. The mortgage companies have cost taxpayers almost $188 billion to stay afloat. Fannie and Freddie have reduced their funds reserved to cover potential losses on bad loans due to the strengthening housing sector and higher home prices.”

http://www.rawstory.com/rs/2013/08/19/watchdog-fannie-and-freddie-should-be-required-to-recognize-bad-mortgages-immediately/

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This failure rate will shock you

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“There’s always a new elite showering themselves with unchecked dictatorial powers– from control of the money supply to control of the military.  For example, four men control over 70% of the world’s money supply in our modern central banking system. They have the power to conjure unlimited quantities of currency out of thin air in their sole discretion. Meanwhile, the ‘richest’ countries in the world (US, Europe, Japan, etc.) are so deeply in debt that they have to borrow money just to pay interest on the money they’ve already borrowed.  This isn’t rocket science. Predicting the end of this system is not attention-seeking sensationalism; it’s just common sense.”

http://www.sovereignman.com/trends/this-failure-rate-will-shock-you-12610/

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The USDA Is Pushing Food Stamps Like a Drug Dealer at a Grade School

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“Last year the USDA targeted Spanish speaking citizens (and non-citizens) with a radio ‘novela’ – which was basically a soap opera outlining how the lives of the characters improved as soon as they went on SNAP.  In many locations, outreach programs are taking place – people don’t even have to go down to the benefits office to sign up.  They can find out if they are eligible right in the grocery store parking lot.  The USDA is spending an additional THREE MILLION DOLLARS not on providing food, but on providing outreach to convince people to accept benefits that folks never realized they ‘needed’.”

http://www.theorganicprepper.ca/the-usda-is-pushing-food-stamps-like-a-drug-dealer-at-a-grade-school-08152013

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Few Dare Discuss Social Security and the Decline in Full-Time Employment

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“If the global economy slides into recession in the years ahead, as seems increasingly likely, full-time employment in the U.S. could slip to 100 million while the number of beneficiaries continues to soar by 10+ million a decade. All the official projections assume steady, strong increases in payroll taxes and full-time employment; the system’s deficits will explode higher if full-time employment sags while the number of beneficiaries increases from 57 million to 70 million and then on to 80 and 90 million.  Anyone who cares about the viability of Social Security had better wake up to the widening divergence of full-time employment and SSA beneficiaries.”

http://charleshughsmith.blogspot.com/2013/08/the-trends-few-dare-discuss-social.html

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Social Security and Medicare: Twin Disasters Loved by All Age Groups

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“The Social Security system, like the Medicare system, is beloved of younger workers, because they think they’re going to get a free lunch from the government when they’re older, and this enables them to spend less money now for their retirement years. They love it. They figure somebody else is going to pay for their retirement, and they think they’re going to dig deep into somebody else’s wallet. This is a Ponzi scheme. But Ponzi schemes are incredibly popular with people. Think of Bernie Madoff. People loved to get in. They begged to get in. Madoff realized early that it was this insatiable desire for outsiders to get in that was his sustaining factor.”

http://www.garynorth.com/public/11422.cfm

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Nearly Every Major Federal Agency Has Reduced Projected Furloughs

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“When sequestration was about to kick in, the Obama administration began a nearly across-the-board campaign to discuss the devastating impact the automatic cuts would have on agency operations. Furloughs, combined with hiring freezes, would disrupt the proper functioning of government, agency chiefs said, as fewer employees working fewer hours could not accomplish the same amount as a fully staffed workforce. While many federal agencies have in fact moved forward with furloughs, most major departments have reduced furlough days, or eliminated them altogether.”

http://www.govexec.com/pay-benefits/2013/08/nearly-every-major-agency-has-reduced-furloughs/68660/

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