NEW YORK (CNNMoney) -- The average American family's net worth dropped almost 40% between 2007 and 2010, according to a triennial study released Monday by the Federal Reserve.
The stunning drop in median net worth -- from $126,400 in 2007 to $77,300 in 2010 -- indicates that the recession wiped away 18 years of savings and investment by families.
The Fed study, called the Survey of Consumer Finances, offers details on savings, income, debt, as well as assets and... (more)
I don't really care for politics, and I didn't follow Rand's campaign too much because he was a compromiser from square one.
Nonetheless, lots of people supported him.
I'm sure they understood he's not perfect, but that's the idiocy of politics, you're called on to support people you disagree with because it's a choice between who will rule over you.
The sickening part of Rand's endorsement is when he says his endorsement will get Ron Paul's youn... (more)
[Professor Hans Hermann Hoppe is Interviewed by MisesInfo on his new book, "The Competition of Crooks," which explains the true nature democracy.]
First of all, Mr. Hoppe, thank you for taking the time to give us this interview. You have written in your new book, Der Wettbewerb der Gauner (“The Competition of Crooks”), that “We don’t need a European super state<... (more)
Peter Schiff testifies before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity. Hearing entitled "Oversight of Federal Housing Administration's Multifamily Insurance Programs." Thursday, June 7, 2012 10:00 AM in 2128 Rayburn HOB.
Peter Schiff is the CEO and Chief Global Strategist of Euro Pacific Capital, Inc. Sch... (more)
Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, explains why Washington's Keynesian approach to stimulating the economy has led to more overspending and excessive debt levels, during a Fraser Institute policy briefing on June 5 in Vancouver.
It's always nice to know the type of people who gravitate towards government.
In this video, an official from San Diego on a highly influential water management board plays a game of catch with his son and beats him with a belt whe... (more)
Audi’s infamous ‘Green Police’ Superbowl commercial may not be far off coming to fruition. Miami Beach has passed an ordinance that makes recycling compulsory from July 2013, with those who fail to comply under threat of fines up to $2500 dollars.
“People, who live in the city of Miami Beach, must soon recycle or possibly face fines,” reports Local10.com.
“Once the ordinance goes in effect in July 2013, people who don&rsq... (more)
A number of conservative bloggers allege they have been targeted through the use of harassment tactics such as SWAT-ting (fooling 911 operators into sending emergency teams to their homes), in retaliation for posts they have written, and now Sen. Saxby Chambliss, R-Ga., has stepped into the matter. He has sent a letter to Attorney General Eric Holder urging him to investigate the SWAT-ting cases to see if federal laws have been violated.
"I am writing with concern regarding recent... (more)
Once again, the federal government is trying its hardest to prevent the courts from determining whether it has broken (or is still breaking) the law through the NSA's wiretapping program.
For nearly four years, the Obama Administration has followed in the Bush administration's footsteps, invoking national security and a variety of procedural hurdles to shield itself from accountability in courts. In three separate lawsuits that have been churning in the federal courts, the governm... (more)
Bath salts. They're turning people from Miami to Maryland into flesh-eating hulks and the synthetic concoctions that are sold as insect repellent and plant food have supposedly singlehandedly set off the zombie apocalypse.
New York Sen. Chuck Schumer, fresh off his victory in banning caffeinated alcoholic beverages like Four Loko, is hell-bent on banning... (more)
Casey Research chairman, author, and investor Doug Casey speaks to Cambridge House Live's Jonathan Roth at the June 4, 2012 World Resource Investment Conference in Vancouver.
Peter Schiff, CEO of Chief Global Strategist of Euro Pacific Capital, talks to Cambridge House Live's Jonathan Roth, at the World Resource Investment Conference in Vancouver - June 4, 2012.
A New York judge got his comeuppance after he happened upon an "unruly crowd" of citizens outraged over a team of police officers engaged in apparent police abuse.
The judge thought the crowd was out of control and the "officers may need help," so he called 911 and told them the cops needed backup.
A few minutes later, one of the cops reportedly "became enraged -- and the judge became his target."
After screaming curses at the crowd, the cop walke... (more)
Once upon a time, the open highways of America were one of our greatest symbols of liberty and freedom. Anyone could hop in a car and set off for a new adventure at any time and even our music encouraged us to "get our kicks on route 66". But today everything has changed. Now the highways of America are being steadily transformed into a high tech prison grid. All over the country, thousands upon thousands of surveillance cameras watch our highways and automated license pl... (more)
Taking a bold stand against a non-existent threat, Kansas Governor Sam Brownback signed a measure that would ban judges in that state from making rulings derived from "Islamic Shariah law." Presumably this would protect residents of the Jayhawk State from the prospect of being punished for co... (more)
The latest Radiolab "shorts" episode, entitled Grumpy Old Terrorists, seems like a bit of a departure in subject matter for that program -- but fits right in with something we've been talking a lot about lately. Over the past few years, we've noticed the rather disturbing trend in how the FBI keeps publicly celebrating stories about stopping terrorist plots -- but in almost every ... (more)
I have received a number of responses to my post on the police brutality in Aurora, Colorado, including one that praised the cops because bank robbers are bad people. I believe that this photo of the police pointing a loaded shotgun right at the face of a child pretty much tells us what we need to know about people who support this kind o... (more)
Every time police Sergeant Joseph Hubbard stops a speeder or serves a search warrant, he says he worries suspects assume they can open fire -- without breaking the law.
Hubbard, a 17-year veteran of the police department in Jeffersonville, Indiana, says his apprehension stems from a state law approved this year that allows residents to use deadly force in response to the “unlawful intrusion” by a “public servant” to protect themselves and others, or their p... (more)
I must say I find it humorous this cop claims to be so terrified of average Joe-Schmo citizens when he's the one walking around armed to the teeth with the true permission to "open fire" with impunity. - Chris
What a Bilderberg it's been. Big names, big money, big decisions, big crowds. Somewhere around 800 activists outside the gates (up from about a dozen in 2009), and inside? Well, here's what we learned.
Four eyewitnesses on the hotel staff told me Willard Mitt Romney was here at Bilderberg 2012. My four eyewitnesses place him inside. That's one more than Woodward and Bernstein used. Romney's office initially refused to confirm or deny his attendance as Bilderberg is "not public". H... (more)
The federal government informed an appeals court on Thursday that it has the right and the power to place GPS tracking devices on the privately owned vehicles of citizens without obtaining a warrant. This is in open rebellion to a Supreme Court decision from January that held that such warrantless installation of tracking devices on cars was unconstitutional.
