Students, Welcome to the Real World of Government Assistance

In the category of “everything is broken or fraudulent” comes this notice from Some Assembly Required: There is $830 billion in outstanding student loan debt in the US – more,even, than credit card debt. But there are far fewer debtors and they are far less likely to pay their debts (60% is not being actively repaid). There seems little hope [...]

Proposed Cuts of Discretionary Spending

Not a bad start if these can be implemented. It represents a return to 2005 spending levels. When you look at the details (link right before chart), nothing seems unreasonable. Get this done, then come back in another year and take out another $200 billion! CHART OF THE DAY: Visualizing The GOP’s Dramatic Spending Cuts Gregory White | Jan. 21, [...]

Today’s Wisdom by Richard Russell

Famed market analyst Richard Russell said this in 2001: A government will stoop to any depth to ensure its own existence. This includes lying, cynical propaganda, imprisoning people, raising taxes, sequestering private property including gold. The Constitution was created by the Founding Fathers to protect the people from the government. No wonder so many politicians hate or willingly ignore the [...]

Sowell on Budget Crises

Dr. Thomas Sowell opines on budget crises: Government budget crises can be painful, but the political rhetoric accompanying these crises can also be fascinating and revealing. Perhaps the most famous American budget crisis was New York City’s, back during the 1970s. When President Gerald Ford was unwilling to bail them out, the famous headline in the New York Daily News [...]

The Ethanol Boondoggle

James Quinn reports: When bipartisanship breaks out in Washington DC, check to make sure your wallet is still in your pocket. Every time you fill up your car this winter you are participating in the biggest taxpayer swindle in history. Forcing consumers to use domestically produced ethanol is one of the single biggest boondoggles ever committed by the corrupt brainless [...]

FT Looks at US Debt

The Financial Times has a lengthy article on US debt problems at both the state and federal levels. Paul Ryan offers some ominous warnings (my emboldening): It was the most startling of warnings. If the US does not get its finances in order “we will have a European situation on our hands, and possibly worse”, claimed Paul Ryan, the new [...]

Sensible Comments by MD

Received via email. Doctor signed email but I am not sure he wants his name released, so I have withheld it: Dear Mr. President: During my shift in the Emergency Room last night, I had the pleasure of evaluating a patient whose smile revealed an expensive shiny gold tooth, whose body was adorned with a wide assortment of elaborate and [...]

A Complete and Dismal Failure, But Not a Surprise

The stimulus and quantitative easing was predicted to be and has become a colossal failure, dooming future generations to debt without results. How many people in government actually believed this nonsense would work is moot. Some, at least, knew it wouldn’t but it was the only way to defer a collapse. It has done just that — deferred a collapse [...]

Harry Schultz Bows Out Like Paul Revere

H/T to NII for this. This was sent to me by a friend who reads newsletters. Emboldening added by me. Some you know who Harry Schultz is and some don’t. After a remarkable 45 year period of publishing the international Harry Schultz Letter he is retiring at 86 . His final letter, just out, included this warning. “Roughly speaking, the [...]

Enron was Ethical Compared to Government

As we get nearer to the unavoidable Day of Reckoning, the State pulls out all stops to sell the fraud that we are improving/doing well/recovering/ or fill in your word of choice. There is no escape from an inevitable end that will likely produce a collapse of the dollar, the economy and the government. The only question is when some [...]

The Government is Like NPR pimped by Tim Geithner

The ruling class in Washington is about to begin their regular ritual to raise the National Debt Ceiling. After all, the pigs, jackasses and elephants must be fed. It reminds me of the annual (continual?)  begathon used by NPR to obtain money. One major difference is that NPR is dependent upon volunteers to step up and provide the money. (No, [...]

Taxation as Theft

The case for taxation being robbery is summarized below and relies on Frank Chodorov’s work. For those not familiar with the logic of this position, you may be interested in reading this and Chodorov. Taxation: Call It What It Is by Nicholas Snow It is often said there are two things in life that are unavoidable: death and taxes. Both are [...]