"America Has Ceased to Exist": Investment Guru Doug Casey on the Coming Economic Meltdown
"America, is a marvelous idea, a unique idea, fantastic idea, I'm extremely pro-American. But America has ceased to exist," declares Doug Casey, an economist and author of his most recent book, Right on the Money. He has also produced a new documentary called Meltdown America which predicts the economic and political unraveling of the U.S.
Casey recen... (more)
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The Bond TrapThe American financial establishment has an incredible ability to celebrate the inconsequential while ignoring the vital. Last week, while the Wall Street Journal pondered how the Fed may set interest rates three to four years in the future (an exercise that David Stockman rightly compared to debating how many angels could dance on the head of a pin), the media almost completely ignored one of the most chilling pieces of financial news that I have ever seen. According to a small story in the Fin... (more)
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Entrepreneurs Are Moral HeroesIn the most fundamental sense we are all, with each of our actions, always and invariably profit-seeking entrepreneurs.
Whenever we act, we employ some physical means (things valued as goods) -- at a minimum our body and its standing room, but in most cases also various other, "external" things -- so as to divert the "natural" course of events (the course of events we expect to happen if we were to act differently) in order to reach some more highly valued anticipated future state... (more)
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Faber: Fed is making rich richer, causing increase in income inequality
The Federal Reserve is expected to announce another $10 billion worth of tapering on Wednesday, reducing the size of its monthly asset purchase program to $35 billion, from $85 billion at the height of the program. And though the hyper inflation many warned would be a consequence of its stimulative policies has not yet reared its head, Fed skeptics like Marc Faber s... (more)
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Self-Described “Austrian Economics Geek,” Defender of Personal Self-Defense, Reads LewRockwell.com, Wants to Abolish the FDA, Supports the Right of Secession, Reads Fred Reed on LRC, Volunteered for Ron Paul CampaignThis is how Zachary Werrell, the twenty-three-year-old campaign manager of the man who defeated Eric Cantor (Professor David Brat) described himself on Facebook. Sadly, this was all “scrubbed” from his Facebook account last night. The “mainstream” media is already acting like he’s hidden a dead body in his trunk.
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Snow JobEconomists, investment analysts, and politicians have spent much of 2014 bemoaning the terrible economic effects of the winter of 2014. The cold and snow have been continuously blamed for the lackluster job market, disappointing retail sales, tepid business investment and, most notably, much slower than expected GDP growth. Given how optimistic many of these forecasters had been in the waning months of 2013, when the stock market was surging into record territory and the Fed had finally declared... (more)
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Taxpayers Are Shocked to Discover That When They Vote for Government Services, They Have to Pay for ThemTaxpayers in Austin, Texas, are upset that their property tax bills are rising. This article reports that taxpayer Gretchen Gardner is "at the breaking point" because of her increasing property taxes.
Gardner says, "I have voted for every park, every li... (more)
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No Joke, Paul Krugman Praised Veterans Health System As National ModelIn 2011, New York Times columnist Paul Krugman wrote that the federal Veterans Affairs (VA) healthcare system is a "huge policy success story, which offers important lessons for future health reform."
Let's examine Krugman's arguments for why the VA is a national model for healthcare in light of recent revelations:
1) Krugman says the VA has "le... (more)
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For The First Time Ever, More Than Half The Members Of Congress Are MillionairesWealthy members of Congress are living the high life at taxpayer expense, while most of the rest of the country continues to suffer through one of the worst economic periods in our lifetimes. According to an analysis conducted by the Center for Responsive Politics earlier this year, more than half of the members of Congress are millionaires. This is the first time that this has ever happened in U.S. history. In addition, the same s... (more)
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Piketty's Envy ProblemThere can be little doubt that Thomas Piketty's new book Capital in the 21st Century has struck a nerve globally. In fact, the Piketty phenomenon (the economic equivalent to Beatlemania) has in some ways become a bigger story than the ideas themselves. However, the book's popularity is not at all surprising when you consider that its central premise: how radical wealth redistribution will create a better society, has always had its enthusiastic champions (many of whom instigated revolts and revo... (more)
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Once Again, Government Displaces Real AidThe history of the growth of government is riddled with government programs driving out well-functioning arrangements for the private provision of assistance and social services, including welfare, healthcare and hospital services, unemployment assistance, disaster relief and more.
So it should come as no surprise that now Obamac... (more)
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See No EvilIn this week’s release of the minutes from its April 29-30 meeting, Federal Reserve policymakers made clear that they see little chance of inflation moving past their 2% target for years to come. In order to make such a bold statement, Fed economists not only had to ignore the current data, but discount the likelihood that their current stimulus will put further upward pressure on prices that are already rising.
Even if you believe the highly manipulated government CPI data,... (more)
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