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Judge Napolitano: How to get fired from Fox Business in under 5 minutes [2012]
Tag Archives: Welfare-Warfare State
The Myth of the Free-Market American Health Care System [2012]
“In 2009, according to these statistics, which come mostly from the OECD, U.S. government entities spent $3,795 per person on health care, compared to $3,100 per person in France. Note that these stats are for government expenditures; they exclude private-sector health spending. If anything, the U.S. figures understate government health spending, because they exclude the $300 billion a year we ‘spend’ through the tax code by making the purchase of employer-sponsored health insurance tax-exempt. So: if we measure by the dollar amount of government involvement in health spending, the French system is actually meaningfully freer.”
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The New, Improved 1984
“Have you noticed that every key metric of the economy is constantly being revised, rewriting history and installing a shiny new set of ‘facts’? The ‘headline number’ is always positive, and its downward revision buried in an avalanche of new data. The revisions are so constant and so extreme that the recognition of this constant revision of history to suit the political needs of the current regime has been numbed; everyone knows the numbers are intended to paint a positive picture of a devolving, fragile economy and society, but we prefer this propaganda illusion to the harsh reality. Why? Because half of us are getting a direct check, benefit or payment from the state.”
http://charleshughsmith.blogspot.com/2013/08/the-new-improved-1984.html
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The Detroit (or New American) Yard Sale … Coming to a City Near You
“I can’t help but wonder what America’s auto barons like the Dodges, Firestones and especially Edsel and Eleanor Ford – whose donations and charitable support over the decades has created the cultural gem that is the Detroit Institute of Art – would think of their art being auctioned off to pay government debt. Will Disney one day own Yosemite National Park or Old Faithful? Will Six Flags own Mt. Rushmore? Will hedge funds buy up tracks of national forests and manage them like they would manage other timber assets? Those are legitimate questions, given a federal debt so large it cannot possibly ever be repaid.”
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Japan’s Debt Exceeds 1 Quadrillion Yen as Abe Mulls Tax Rise
“The country’s outstanding public debt including borrowings reached a record 1,008.6 trillion yen as of June 30, the finance ministry said in Tokyo today. Larger than the economies of Germany, France and the U.K. combined, the amount includes 830.5 trillion yen in government bonds. The world’s heaviest debt burden will weigh on Abe when he decides next month whether to implement a two-step plan to double the tax on consumers in a nation with ballooning welfare costs. Moody’s Investors Service yesterday warned that a worsening of finances would erode confidence in government bonds.”
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Bill Bonner: The Bottom Is Still Ahead for This Bear Market
“The last top in Treasury prices (and a bottom for yields) occurred in 1946. Yields rose for the next 34 years. Now the Treasury market appears to be topping out again… and is headed for a new high in yields… which may not arrive until 2047. It may be a long way off… or right around the corner. Either way, it will be hell getting there. The Detroit pension disaster is just the first of many. Wait until long-term interest rates hit 5%… or 10%. How many companies, cities and pension funds will still be solvent? We’ll see! But wait. You don’t think the Fed will sit on its hands and let the markets take over, do you? Taper off? Forget it.”
http://www.bonnerandpartners.com/the-bottom-is-still-ahead-for-this-bear-mark/
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Michael Scheuer: Obama, Rice, Kerry, McCain, and Graham intervening for more war
“Today there are only two parties in the United States: (a) the bipartisan and interventionist elite and their ideological, fifth-column, and globalist supporters and funders (AKA: The Tyranny), and (b) the rest of us who are taxed to death for the privilege of paying for, and seeing our children die in their unnecessary, intervention-caused wars. How can Americans change this reality? It seems clear that intervention cannot be stopped at the ballot box. On the issue of options, there are many to consider. But one can get off to no better start than to reread the works of John Dickinson, Thomas Jefferson, and Thomas Paine written in 1775 and 1776.”
http://non-intervention.com/1122/obama-rice-kerry-mccain-and-graham-intervening-for-more-war/
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Fantasy Dream: Easy Retirement (If You Have $1 Million).
“MarketWatch is a conventional website. It runs financial news. It also runs articles on investing. This one caught my eye. ‘How to make your nest egg last over 40 years.’ That sounds good! I read it. The article says you can achieve this goal. But you will need at least $2 million. A million won’t get the job done. The point is this: a journalist in a major financial magazine shows that there is no easy retirement, even if you have $1 million at 65. But hardly anyone does. Then how will people afford retirement? They can’t. Do most people understand this? They will move in with their kids. Are the kids ready for this? No. Are the kids in debt? Yes.”
http://teapartyeconomist.com/2013/08/08/fantasy-dream-easy-retirement-if-you-have-1-million/
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Rahm’s Chicago: $1 Billion Financial Shortfall Forecast by 2015
“Chicago Mayor Rahm Emanuel released the city’s second Annual Financial Forecast on Wednesday. Not only does the report predict a $369 million financial shortfall for the city’s operating ‘budget’ in 2014, but it also predicts a shortfall of more than $1 billion by the year 2015. On Thursday, Breitbart News reported the city’s payroll is more than $2.4 billion, with over 2400 city employees (not including school employees) making over $100,000 a year. The payroll is by far the highest expense for the city, yet in the Financial Forecast report, it is expected to increase by $100 million in 2014.”
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40% Of US Workers Now Earn Less Than 1968 CPI-Adjusted Minimum Wage
“40.28% of all workers make less than $20,000 a year in America today. So that means that more than 40 percent of all U.S. workers actually make less than what a full-time minimum wage worker made back in 1968. That is how far we have fallen. Good paying full-time jobs are disappearing, and they are being replaced by low paying part-time jobs. So far this year, 76.7 percent of the jobs that have been ‘created’ in the U.S. economy have been part-time jobs. That would be depressing enough, but what makes it worse is that wages for many of these low paying jobs have actually been declining over the past decade even as the cost of living keeps going up.”
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Tip Freedomwat.ch Staff with Bitcoin
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