Obama's State of The Union Address | Peter Schiff and Stefan Molyneux|
United States President Barack Obama delivered just his final State of the Union address – but unfortunately the facts don’t serve his fictional narrative.
Stefan Molyneux and Peter Schiff go through Obama’s address and discuss the state of the economy, the stock market crash, misleading unemployment numbers, the illusion of job creation, Federal Reserve interest rates, climate ch... (more)
Amid Stock Market Panic, Dozens of Chinese Billionaires Are Mysteriously Disappearing|
|Amid stock market panic in China, many of the country's most prominent billionaires are disappearing without a trace. This week, Zhou Chengjian, the chairman of the clothing company Metersbonwe became the most recent wealthy Chinese businessperson to go missing. Metersbonwe said in a statement on Thursday that it would be suspending its shares on the Shenzhen Stock Exchange and that the... (more) |
Peter Schiff: Economy Already in Recession, Fed Won't Admit It|
Peter Schiff says the economy is likely already in recession and people should brace themselves for a reversal of epic proportions.
Will 2016 Be The End of The Current Skyscraper Boom?|
|With more financing in place, the world’s tallest skyscraper is moving forward.|
Recent media reports indicate that the final segment of financing has been obtained for the $1.2 billion Jeddah Tower project in Saudi Arabia. This is the financing that would be necessary to bring the project to record heights. Media reports also show that the structure has risen to more than seventy-five meters (246 feet) and construction is proceeding at an uninterrupted pace.
Above g... (more)
Puerto Rico to Default On a Portion of $1 Billion Debt|
|Over the past year, Puerto Rico's financial problems have received national attention. Not only is the territory mired in high unemployment, but their government is also buried under a mountain of debt. Officials have desperately tried to keep the situation under control, and have pleaded with Congress to let them restructure their debt, but to no avail.|
Now Puerto Rico is going to ring in the New Year by defaulting on a portion of $1 billion in bonds that are due next Monday.... (more)
Venezuela Sues US Website Owners For 'Racketeering' and 'Cyberterrorism' to Try to Shut Them Up About Exchange Rates|
|Cyrus Farivar is reporting that the government of Venezuela has decided the best way to keep its citizens from learning more about its collapsing economy is to sue the US-based operators of a currency exchange information website… in a US federal court. |
The US-based website that publishes a daily unofficial exchange rate between American do... (more)
Martin Shkreli On Why He Raised The Price For Daraprim|
The "Most Hated Man in America" gives his side of the story. Skip to 1:48:20.
Apple CEO Tim Cook Says Accusations of Tax Avoidance "Political Crap," US Tax Code "Awful"|
Apple CEO Tim Cook told CBS's Charlie Rose on this week's 60 Minutes the U.S. tax code is "awful" and was "made for the industrial age, not the digital age."
Cook said while he'd "love to" repatriate the billions Apple has overseas he won't because it would cost him "40 percent" in taxes.
"I don't think that's a reasonable thing to do," he said.
Forced Diversity: Obama Administration Begins Redistributing Poor Inner City Families to US Suburbs|
The government in Baltimore is quietly relocating poor minorities from the inner city to rich white neighborhoods in the suburbs. They say explicitly they're doing it "under the radar" because it gets people angry, lol. - Chris
China Carefully Moving to Displace Dollar|
|While Washington seems obsessed with trying to humiliate China's President Xi Jinping and make him lose face, sending warships into Chinese territorial waters in the South China Sea just days after Obama's White House meeting with President XI, and other provocative acts, Britain's government is taking advantage of the growing cleft between Washington and Beijing. They are cleverly moving to develop a prominent role in what they see as emergence of the Chinese currency, the Renminbi (RMB), as a ... (more) |
Why Gold-Backed Money Doesn't Bring Booms and Busts|
|According to popular thinking, not every increase in the supply of money will have an effect on economic activity. For instance, if an increase in supply is matched by a corresponding increase in the demand for money, we are told, then there won’t be any effect on the economy. The increase in the supply of money is neutralized, so to speak, by an increase in the demand for money, or the willingness to hold a greater amount of money than before.|
What do we mean by demand for money?... (more)
Fed's Rocket Ship Turns Hoverboard|
|Over the past year, while the U.S. economy has continually missed expectations, Federal Reserve Chairwoman Janet Yellen has assured all who could stay awake during her press conferences that it was strong enough to withstand tighter monetary policy. In delivering months of mildly tough talk (with nothing in the way of action), Yellen began stressing that WHEN the Fed would finally raise rates (for the first time in almost a decade) was not nearly as important as how fast and how high the increa... (more) |
India's Failing Gold Monetization Scheme: Seizure Imminent?|
|India’s newest gold monetization scheme has been a colossal failure. After one month, it has netted only one kilogram (2.2 pounds avoirdupois) out of an estimated 20,000 tonnes (44 million pounds avdp) of privately-held gold. Why is that? Well, let’s look at how the program works.|
Gold-holders turn their gold over to a bank. The banks melt the metal dow... (more)
Ron Paul Warns IRS May Take Your Passport|
|A little-noticed provision in the highway funding bill Congress passed this week threatens a right most Americans take for granted: the right to travel abroad. The provision in question gives the Internal Revenue Service the authority to revoke the passport of anyone the IRS claims owes more than $50,000 in back taxes.|
Congress is giving the IRS this new power because a decline in gas tax receipts has bankrupted the federal highway trust fund. Of course, Congress would rather sque... (more)