Tax Revenues

California Imploding Just Like Greece

March 16, 2012

Lady Thatcher’s axiom regarding Socialism has come to California. They have “run out of other people’s money” at least in the sense that tax revenues are plunging. The table below shows the accounting results of a dying economy. Doug Ross… Read More »California Imploding Just Like Greece

What Do You Believe — Cash or Government Propaganda?

March 13, 2012March 13, 2012

The renowned recovery doesn’t show in the numbers, at least in the numbers which cannot be fudged. According to Zerohedge: … the final February deficit was just released and the actual print is $231.7 billion. It also means that in the… Read More »What Do You Believe — Cash or Government Propaganda?

The US will default on its debt. The issue is whether it will be a traditional default (inability/refusal to pay) or hyper-inflationary default. The latter honors the nominal amounts by using dollars worth a fraction of what they were. This method impoverishes the creditors and the citizens of the nation.
Monty Pelerin
Doubt is not a pleasant condition, but certainty is absurd.
Voltaire
There’s no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren’t enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible to live without breaking laws.
Ayn Rand
Taking the State wherever found, striking into its history at any point, one sees no way to differentiate the activities of its founders, administrators and beneficiaries from those of a professional-criminal class
Albert J. Nock
In any great organization it is far, far safer to be wrong with the majority than to be right alone
John Kenneth Galbraith
The time to save is now. When a dog gets a bone, he doesn't go out and make a down payment on a bigger bone. He buries the one he's got.
Will Rogers
I am very fond of truth, but not at all of martyrdom.
Voltaire
Regulation is a fundamental dominant social theme of the elites and they will flog it until people wake up and realize that every law and regulation is merely a price fix. Price-fixing merely distorts the underlying economy and transfers wealth from creators to those who had nothing to do with it and don't know how to use productively. Regulation "cures" little and "fixes" less. That's economic reality, no matter what lawyers and politicians want people to believe.
The Daily Bell