Is America really broke? Michael Moore (and others) tells us that there are oceans of cash being hoarded by the wealthy. But Iowahawk (iowahawk.typepad.com) did a little addition, and armed with these statistics Bill and the 'Hawk blow a hole in the "hoarding" lie big enough to fit a documentary filmmaker through.
This video explains how the government could steal basically everything and it wouldn't even fund the state for a year. - Chris
"The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don't invest, their holding too much money. We haven't heard that kind of talk except from pure socialists. Everybody's afraid of the government and there's no need soft peddling it, it's the truth. It is the truth. And that's true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I'm tel... (more)
FLOWER MOUND, Texas - A little-known Texas law and a foreclosure could have a man in Flower Mound living on easy street.
Flower Mound's Waterford Drive is lined with well-manicured $300,000 homes. So, when a new neighbor moved in without the usual sale, mortgage-paying homeowners had a few questions.
"What paperwork is it and how is it legally binding if he doesn't legally own the house?" said Leigh Lowrie, a neighboring resident. "He just squats there."
This is the most amazing soda store ever and the owner is a free market hero! But don't get him started on the evils of government "regulations!"
_
John Nese is the proprietor of Galcos Soda Pop Stop in LA. His father ran it as a grocery store, and when the time came for John to take charge, he decided to convert it into the ultimate soda-lovers destinat... (more)
Online commerce will soon be 10 percent of all retail, and it is growing at an exponential rate. We click and pay, and, if it's not a digital good, the good arrives at our home a few days later. Remember "allow six to eight weeks for delivery?" That's gone. Everything comes fast. And if it isn't in stock, we are notified. When it is shipped, we are notified. We can track our packages online, following them stop by stop.
The goods go straight from the manufacturer to the warehouse ... (more)
I have been forecasting with near certainty that QE2 would not be the end of the Fed's money-printing program. My suspicions were confirmed in both the Fed minutes on Tuesday and Fed Chairman Ben Bernanke's semi-annual testimony to Congress yesterday. The former laid out the conditions upon which a new round of inflation would be launched, and the latter re-emphasized – in case anyone still doubted – that Mr. Bernanke has no regard for the principles of a sound currency. ... (more)
Christian Lopez might end up wishing he kept that baseball after all.
Lopez became more than a footnote to the spectacle of Derek Jeter(notes) getting his 3,000th hit on Saturday at Yankee Stadium by returning the mileston
Voters remain strongly supportive of a free market economy over one controlled by the government and still think small businesses are hurt more than big businesses when the government does get involved.
A new Rasmussen Reports national telephone survey finds that 72% of Likely U.S. Voters believe a free market economy is better than an economy managed by the government. Just 14% think a government-managed economy is better. Another 14% are not sure. (To see survey question wording... (more)
Washington, D.C. is considering a bill that would require every cab driver in the city to own a special permit called a medallion. The total number of medallions would be capped at 4,000, which would reduce the current number of cabs by more than one-third and put thousands of drivers out of business. (The city government has no idea how many licensed cabs are in the d... (more)
Apparently, Michelle Bachmann is a complete idiot because she doesn't think the government should print money Zimbabwe style. Here's the ThinkProgress article where they assure us even republican economists love government money printing, who'd a thunk?! See Th... (more)
A COUPLE living an "off-grid" lifestyle say they face prison unless they move from their own land in Willand and return to an existence in the benefits trap.
Stig and Dinah Mason bought Muxbeare Orchard after a sudden windfall allowed them to quit their impoverished lives on a Hertfordshire council estate two years ago.
The Masons have transformed what they described as a derelict four-acre plot into a haven of self-sufficiency boasting a 400 sq m allotment, a polyt... (more)
Daily Bell: What has been your position on gold and silver? Do you expect the purchasing power of either or both to go higher?
Marc Faber: Well I basically focus more on gold than silver, although I am on the board of a company, Sprott Inc., that is identified with a very bullish view of silver. I prefer gold. My view is, yes, I have been positive for gold for the past 10 or 12 years and I could make a case that gold today is cheaper than it was in 1999 when it was at $252. Cheape... (more)
Federal Reserve Chairman Ben S. Bernanke’s standing with the public has slid to its lowest level in almost two years of polling on the issue, even as faith in the Federal Reserve holds up.
Bernanke is viewed favorably by 30 percent of those polled, compared with 26 percent who view him unfavorably; the remainder are unsure. In September of 2009, Bernanke enjoyed 41 percent approval and 22 percent disapproval. The Fed itself is viewed favorably by 42 percent of voters, little... (more)
Federal Reserve Chairman Ben S. Bernanke left the door open to a fresh shot of monetary stimulus should the economic rebound he’s predicting fail to materialize.
The Fed would be “prepared to take additional action, obviously, if conditions warranted,” including the purchase of more Treasury securities, Bernanke said yesterday after U.S. central bankers met in Washington. The economy will probably overcome constraints from elevated energy prices and Japan- relat... (more)
A new Rasmussen Reports national telephone survey finds that 70% of Likely U.S. Voters think it would be bad for the economy if the debt ceiling is not raised and the federal government defaults on some of its loan obligations. Just 7% disagree and think it would be good for the economy. Eleven percent (11%) feel a government default will have no impact, and another 11% are not sure.
But 56% of voters see more short-term economic danger in failing to significantly cut federal spen... (more)
Only 7% realize default is good for our economy? That's unfortunate. Default is actually a huge win for our economy as it would get us out of massive debt obligations which our government got us into (against our will). It's the equivalent of declaring bankruptcy to get out of your student loans (pre-bankruptcy "reform," of course). Default would mean less taxes need to be stolen to pay off bond holders etc. and people who lent to our stupid government, it would also make people less likely to lend to our stupid government in the future. - Chris
The Bitcoin community faced another crisis besides this on Sunday afternoon as the price of the currency on the most popular exchange, Mt.Gox, fell from $17 to pennies in a matter of minutes. Trading was quickly suspended and visitors to the home page were ... (more)
