Tag Archives: Welfare-Warfare State

$179,000 Each–In Debt

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“Government and household debt has reached $179,000 per person in the U.S. For the past several years, we’ve heard pundits blathering on about the ‘great deleveraging’ that’s reduced the household debt burden, freeing up American consumers to borrow more, more, more.  The Great Deleveraging is shown here–yes, it’s that thin slice of debt writeoffs. Debt has since resumed its inexorable rise.  That which is unsustainable will go away. That includes debt, malinvestments, currencies, deficits and yes, entire empires.”

http://charleshughsmith.blogspot.com/2013/06/179000-each-in-debt.html

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Washington’s Vampire Economy Thrives on Bloodshed

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“The Wall Street Journal observes a new ‘Gilded Age’ for Washington, which has been ‘a time of lush business profits fueled by government outsourcing and war.’ Well-connected recent college graduates secure entry-level bureaucratic jobs that pay enough to support rentals that charge $3,000 a month. Military contractors like Northrup Gumman, corporate lobbying groups, and Wall Street firms bring in hordes of first-time home buyers, driving real estate values upward.  This does much to explain the invincible indifference of the ruling class to our nation’s unfolding economic catastrophe.”

http://prolibertate.us/index.php/washington-s-vampire-economy-thrives?blog=7

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The Great Obamacare Intergenerational Swindle

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“Will we be able to talk healthy young Americans into buying medical insurance that costs seven times what it would in a free market in order to subsidize our increasingly expensive health care? Or will we have to sic IRS enforcers on them for selfishly taking advantage of the law’s pre-existing condition protections to get care at someone else’s expense in case of serious illness? It’s a tough sell, but take heart, fellow Boomers. We’ve been preparing our children for community servitude for years. Why else did we feed them a steady diet of social consciousness, while preaching that it takes a village from the day we dumped them in daycare? Now, it’s time for them to pay up.”

http://www.forbes.com/sites/billfrezza/2013/07/02/the-great-obamacare-intergenerational-swindle/

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The Nudge That Will Force Banks to Put More Money Into Treasury Securities

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EPJ13

“Translation: The rules will require banks to purchase more government securities, rather than make loans to the private sector. The nudge is in.  In a May 1 report,Treasury Borrowing Advisory Committee said  banks, over time, will need to buy as much as $5.7 trillion in ‘safe’ assets including government bonds by 2020 to comply with the 2010 Dodd-Frank Act in the U.S., and capital standards set by the Bank for International Settlements in Basel, Switzerland.”

http://www.economicpolicyjournal.com/2013/07/the-nudge-that-will-force-banks-to-put.html

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Peter Schiff: Tapering the Taper Talk

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“In truth, I believe that the Fed’s next big announcement will be to increase, not diminish QE. After all, Bernanke made clear in his press conference that if the economy does not perform up to his expectations, he will simply do more of what has already failed.  Of course, when the Fed is forced to make this concession, it should be obvious to a critical mass that the recovery is a sham. Investors will realize that years of QE have only exacerbated the problems it was meant to solve. When the grim reality of QE infinity sets in, the dollar will drop, gold will climb, and the real crash will finally be upon us. Buckle up.”

http://www.europac.net/commentaries/tapering_taper_talk

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Jim Rogers: Never In History Has This Been Seen – All Central Banks Printing Money

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Jim Rogers: Never In History Has This Been Seen – All Central Banks Printing Money

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Is ‘La Vie En Rose’ Over For France?

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eric-margolis2

“French industry has been ruined by overly powerful unions and their political allies in the Socialist Party.  One would be crazy these days to open a factory in France with its absurd 35-hour work week, endless vacations, surly unions, strikes, and social costs that add 50% to worker’s salaries. Laying off workers during downturns or closing plants involves siege warfare.  French universities keep churning out unemployable graduates in social anthropology, sociology, and film-making. Government in France employs 56% of all workers, an unsustainable cost that, with retirement at 60 and unemployment benefits – now 32% of GDP – is bleeding the economy to death.”

http://ericmargolis.com/2013/06/is-la-vie-en-rose-over-for-france/

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NY Fed: The Truth About the Job Market for Recent College Graduates

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“We show that there are large differences in unemployment rates, underemployment rates, and average wages across majors. In particular, we show that those with degrees in majors that provide technical training, such as ‘Engineering’ and ‘Math & Computers,’ or in those that are geared toward growing parts of the economy, such as ‘Education’ and ‘Health,’ have tended to do pretty well when compared to the rest of the pack. At the other end of the spectrum, those with a ‘Liberal Arts’ or ‘Leisure & Hospitality’ major tend to have lower wages, higher unemployment, and higher underemployment.”

http://www.economicpolicyjournal.com/2013/06/ny-fed-truth-about-job-market-for.html

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San Francisco public transportation system shut down by striking union workers

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“The strike by 2,400 BART workers came after acrimonious negotiations centered on wage and benefit issues broke down late Sunday, just hours before current labor agreements expired. Both sides blamed the other for abandoning the talks. BART serves about 400,000 riders daily, many of whom rely on the system to travel from Oakland, Berkeley and other communities on the east side of San Francisco Bay into the city of San Francisco. The strike will shut down the system once all trains are parked early Monday morning and is expected to bring widespread travel disruptions and traffic gridlock.”

http://www.rawstory.com/rs/2013/07/01/san-francisco-bart-system-shuts-down-as-workers-go-on-strike/

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Our Legacy Systems: Dysfunctional, Unreformable

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“Real reform would mean powerful constituencies would have to take real reductions in staffing, power, benefits and in their share of the national income. Rather than reveal this double-bind–reform is impossible but the Status Quo is unsustainable–the legacy system deploys its gargantuan resources to laying down a smoke-screen of bogus reforms and ginned-up statistics. America’s legacy systems are like stars about to go super-nova. They have increased in size to the point where their stupendous mass guarantees that once their energy source (as measured in fossil fuels and money) falls below a certain threshold, the institution will collapse inward on itself.”

http://charleshughsmith.blogspot.com/2013/07/our-legacy-systems-dysfunctional.html

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