Economy

(Independent) – How Goldman gambled on starvation

By now, you probably think your opinion of Goldman Sachs and its swarm of Wall Street allies has rock-bottomed at raw loathing. You’re wrong. There’s more. It turns out that the most destructive of all their recent acts has barely been discussed at all. Read More Here

(Telegraph) – Britain facing £5.5 billion EU sanction

Britain could face sanctions costing the taxpayer £5.5 billion if it fails to meet spending targets set by a new EU “economic government”, under European Commission proposals. Read More Here

(PressTV) – ‘Corporates may cause rise in hunger’

Economic moves by major investment firms like Goldman Sachs, Merrill Lynch, and Deutsche Bank may cause a rise in hunger, according to a leading economist.

Professor Jayati Ghosh of the Centre for Economic Studies in New Delhi made the remarks on the sidelines of the G20 summit in Toronto last week, The Independent reported on Friday. Read More Here

(NYTimes) – Robert Prechters Market Forecast Says “Take Cover”

A proponent of the Elliott Wave theory for market forecasting sees trouble ahead: a slide worse than the Great Depression or the Panic of 1873. Read More Here

(Telegraph) – The latest threat to the global recovery: state capitalism

Stated in one bald paragraph it sounds a little apocalyptic. But Ian Bremmer, the highly respected author who is president of the Eurasia Group in the United States, makes a compelling case. The financial crisis has left Western capitalism nervous and risk averse, constantly under attack from a body politic keen to take advantage of public anger over the events of 2007 and 2008. Issues like the control of the banking system, remuneration and the failure of so much of the financial sector, whether Northern Rock, Lehman Brothers, AIG or Royal Bank of Scotland, has created a fundamental crisis in confidence. Read More Here

(StopCartel) – Economic, Crisis, Greek Theater, Our Drama – Read More Here

(FinanceMyMoney) – California budget nightmare – in 1970 California took in 28 percent of state revenues from personal income taxes. Today, the state pulls in 52 percent from personal income taxes. Massive shift to service oriented state – Read More Here

(PressTV) – UK mulling food vouchers distribution

The unemployed whose benefits have been cut off by government will receive food vouchers by charities supported by the government to make up for the cuts in welfare spending. Read More Here

(PressTV) – ‘US facing Soviet-like disintegration’

A senior Iranian lawmaker, Alaeddin Boroujerdi, has warned the US of imminent collapse, saying its approaches bring to mind soviet policies before disintegration.
“America’s conduct toward the world bears great resemblance to that of the Soviet Union before its disintegration,” Fars News Agency quoted the head of the Parliament’s National Security and Foreign Policy Commission as saying on Friday. Read More Here

(NYTimes) – In Ireland, a Picture of the High Cost of Austerity

As Europe’s major economies focus on belt-tightening, they are following the path of Ireland. But the once thriving nation is struggling, with no sign of a rapid turnaround in sight. Read More Here

(WSWS) – Sri Lankan budget imposes IMF austerity demands – Read More Here

(InternationalForecaster) – The U.S. Economy is Falling. Towards another Credit Collapse?

The housing market is in serious freefall with builders scheduled to increase units by 535,000 this year. As sales fall so will big bank balance sheets. That means we are facing another credit collapse. Read More Here

Video: Enough is Enough

(YahooFinance) – Video: U.S. Economy “Is a Complete Disaster”

The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come, Howard Davidowitz tells Henry and Aaron in the accompanying clip. – Continue reading

Economy

(C-SPAN) – Ron Paul: Restore a Full Audit of the Fed! – Video Link Here

(AsiaTimes) – Part 1 of 2 – THE POST-CRISIS OUTLOOK: Part 10 – The trillion-dollar failure – Read More Here

(CNNMoney) – Hello Chinese exports, good-bye U.S. jobs – Read More Here

(WRNGNews) – NY Government Shutdown Possible

The state budget is more than two months late. Since April, the government has been kept running on a week-to-week basis by temporary spending bills, or extenders. Read More Here

(ABCNews) – 2 million public servants on strike in Spain

Nearly 2 million Spanish state employees have stopped work in anger over government spending cuts that will see them lose about 5 per cent of their salary. Read More Here

(PressTV) – UK unemployment could reach 3 mn – Read More Here

(CNBC) – Debt Spreading ‘Like a Cancer’: Black Swan Author

The economic situation today is drastically worse than a couple years ago, and the euro is doomed as a concept, Nassim Taleb, professor and author of the bestselling book “The Black Swan,” told CNBC on Thursday.

“We had less debt cumulatively (two years ago), and more people employed. Today, we have more risk in the system, and a smaller tax base,” Taleb said. Read More Here

(USAToday) – Only a fraction of those in need file for bankruptcy – Read More Here

(Bloomberg) – Soros Says ‘We Have Just Entered Act II’ of Crisis

Billionaire investor George Soros said “we have just entered Act II” of the crisis as Europe’s fiscal woes worsen and governments are pressured to curb budget deficits that may push the global economy back into recession.

“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.” Read More Here

(CNSNews) – Bernanke: ‘Things Will Come Apart’ If Entitlements Are Not Reformed and Spending Controlled

Federal Reserve Chairman Ben Bernanke delivered a frank assessment to Congress on the fate of the economy if entitlement programs are not restructured. On Wednesday, Bernanke warned that “things will come apart” if Congress allows the federal entitlement programs and the deficit spending they cause to continue on their unsustainable path. Read More Here

(MailOnline) – U.S. facing debt ‘super cycle’: $13trillion black hole to overtake country’s GDP ‘within two years’

Forecasters predict the U.S. debt will grow to surpass gross domestic product in 2012, based on data from the International Monetary Fund. Read More Here

(EconomicCollapse) – More Than 1 In 5 American Children Are Now Living Below The Poverty Line

Perhaps the greatest victims of the economic nightmare that is unfolding right in front of our eyes are our children. The overall economic numbers are really bad, but when you examine the impact that this economy is having on children things get really horrifying. Read More Here

(CNBC) – Gold’s ‘Real Move’ to $7,000 Coming: Asset Manager

The “real move” in gold is to come, predicted Egon von Gruyerz, founder of precious metals investment and storage company GoldSwitzerland.com, on Monday. Read More Here

(PressTV) – UK’s welfare system targeted for cuts

UK Chancellor George Osborne discloses that the government has targeted welfare benefits, tax credits and public sector pensions for spending cuts. Read More Here

(Chron) – Radiohead frontman: Music industry on verge of collapse

Radiohead frontman Thom Yorke is warning the music industry is on the brink of collapse, insisting young musicians should resist signing record deals because the major labels will “completely fold” within months. Read More Here

(Telegraph) – CGT: investors rush into gold coins to beat tax rise

Britain’s bullion dealers are struggling to source enough gold sovereign and Britannia coins to keep up with surging demand ahead of an expected rise in capital gains tax (CGT) in the emergency budget. Read More Here

(June 10) – Video: Gerald Celente Breaks Down The Troubled Financial World Markets on Alex Jones TV

Alex talks with Gerald Celente, renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.

Part 1 of 7

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Bilderberg Wants Americans Disarmed And Dependent On Government

(PaulWatson) – As part of Bilderberg’s agenda to “Europeanize” America and turn it into a socialist welfare state wherein its citizens are completely dependent on the government, the elite are celebrating President Obama’s support for a UN small arms treaty, which many fear could be used to impinge on the right to keep and bear arms.

According to Bilderberg sleuth Jim Tucker, elitists were celebrating one of their scant victories at the annual meeting this year, namely the fact that President Obama has promised to support a United Nations small arms treaty that could represent an end run around the second amendment. Continue reading

Monetary Dictatorship

(CampaignForLiberty) – If you’re an American taxpayer, you should expect to receive a thank-you note from dole recipients in Greece fairly soon. The reason is that Barack Obama, working with his cohorts at the Federal Reserve, is using your money to bail out the Greek welfare state, thereby enabling dole recipients in Greece to continue receiving their dole.

The problem is that for decades the Greek government has been doing what the U.S. government and many other regimes have been doing: borrowing to the hilt to fund dole payments to welfare recipients. In the hope that Euro officials would not discover how bad things were in Greece, Greek officials were falsifying their financial reports. Unlike the U.S. government which has a Federal Reserve central bank, the Greek government couldn’t simply print up the money to pay off its debts. That’s because it’s part of the Euro zone, where German officials have traditionally opposed such a policy. Continue reading

Economy

(SkyNews) – Bid To Storm Irish Parliament Foiled

Protesters have clashed with police as they tried to break through the gates of the Irish parliament during a march against bank bailouts. Read More Here

(AmericanThinker) – The Failure of the Unfree Market

What we have here is the failure of the unfree market. That means the failure of Greece. And the other PIGS (Portugal, Italy, Greece, Spain). And Europe. And it means the U.S., too. It even includes the Great Recession. The modern welfare state is collapsing around us. Read More Here

(SteveWatson) – New UK Government To Be Infested With Bankers

One in ten new MPs has background in international banking Read More Here

(SteveWatson) – UK Economy May Be Allowed To Crash And Burn Like US Banking Giant

Analysts, Economists: Britain May Become Lehman To Greece’s Bear Stearns Read More Here

(Reuters) – Food-stamp tally nears 40 million, sets record – Read More Here

(FoxNews) – World Health Organization Moving Ahead on Billions in Internet and Other Taxes

The World Health Organization is moving full speed ahead with a controversial plan to impose billions of dollars in global consumer taxes on such things as Internet activity and everyday financial transactions like paying bills online — while its spending soars and its own financial house is in disarray. Read More Here

(GlobalResearch) – “Drop Dead Economics”: The Financial Crisis in Greece and the European Union – Michael Hudson

Riddle: How are the Greek rioters like America’s Tea Party movement?

Answer: Both reject government being taken over by the financial oligarchy to shift the tax burden onto labor. Read More Here

(USNews) – U.S. Cancer Costs Double in Two Decades

Study also finds that private insurance pays greater share today Read More Here

(PaulWatson) – Tea Party Clueless About U.S. Tax Dollars Funding Bailout Heist

Silence from anti-tax movement on bailouts is deafening – and dangerous Read More Here

(WashingtonsBlog) – The European Bailout: Not a Very Promising Start

Many people have written insightful criticisms of the European bailout. For example, Tyler Durden, Joe Weisenthal and Gregory White point out that the French banks are the real winners of the bailout (but don’t forget JP Morgan).

Ron Paul points out that the Fed opening its swap lines to Europe violated its promise to Congress not to do so. Paul also says the bailout will help lead to the destruction of all fiat paper currencies, ensuring that “gold will rule the roost”. Read More Here

(House.gov) – The Fed Is Using Its Cronies And Lobbyists To Stop Us From Auditing It – Ron Paul

It doesn’t come as too much of a surprise that the measure to audit the Federal Reserve is coming under continuous fire from the central bank and its cronies. For the first time since the Federal Reserve was created nearly a century ago, they have hired an actual lobbyist to pound the pavement on Capitol Hill. This is a desperate effort to hang on to the privilege of secrecy and lack of accountability they have enjoyed for so long. Last week showed they are getting their money’s worth in the Senate. Read More Here

(WSJ) – Did a Big Bet Help Trigger ‘Black Swan’ Stock Swoon?

Shortly after 2:15 p.m. Eastern time last Thursday, hedge fund Universa Investments LP placed a big bet in the Chicago options trading pits that stocks would continue their sharp declines.

On any other day, this $7.5 million trade for 50,000 options contracts might have briefly hurt stock prices, though not caused much of a ripple. But coming on a day when all varieties of financial markets were deeply unsettled, the trade may have played a key role in the stock-market collapse just 20 minutes later. Read More Here

(Reuters) – Gold rises above $1,220 on euro zone debt fears

Gold hit five-month highs on Tuesday, rising to within $5 of its December record peak as risk aversion returned on doubts over smaller euro zone countries’ ability to cut their deficits despite a $1 trillion aid package. Read More Here

(BusinessInsider) – Gold Is On Fire, As Market Sneers At Euro Bailout

Along with the overall market malaise, the other big warning sign right now is the gold surge. The metal is now nearly $1220/oz. As Stacy Herbert puts it: The gold vigilantes are in a shootout with the ECB and the Fed. Read More Here

(GoldTrends) – Brother Can You Spare a Trillion?

In a nutshell they will buy bonds and will intervene in markets and “do what they have to” in order to avoid a meltdown. This is akin to the USA bailout of 1 Trillion dollars. This will only buy time, but it is all that can be done right now. For the moment the term being touted this Monday morning is “putting a floor on risk assets”. This time they mean stocks and bonds and not commodities. Read More Here

(Goldseek) – Where’s my Government Check

Reading the financial press, I recently noticed that of the 139 million workers in the Bureau of Labor Statistics household survey of workers, 47 percent don’t make enough to file and pay federal taxes beyond any collected social security tax. This means that out of a population of 310 million Americans, only 74 million (about 24 percent) pay federal taxes on April 15th. Read More Here

(ZeroHedge) – European Banks Now Feverishly Betting Against Euro, As Bailout Fails, Gold Surges – Tyler Durden

Thought experiment: You are the head FX trader at French megabank Croc Monsieur & Cie. (HFT: CMC) For the past 5 years, your bonus has been getting paid primarily in company stock. In the last two weeks you have seen the stock of your firm plunge as the markets have finally realized that those idiots in the Fixed Income desk have loaded up to the gills with PIIGS debt which is now worth 60 cents on the dollar at best. And to top things off, the euro has plunged to multi year lows killing any chance of buying that New York Pied A Terre which seemed so cheap when the EURUSD was 1.50 a few months ago. So what do you do? Well, you short the living daylights out of the EUR, knowing full well that the EU, the IMF and the ECB will not let Europe crash. You sell, you sell on margin and then you sell some more, trying to get EURUSD all they way down to 1.20, to 1.10, even to parity if possible, to make it all that more believable that the end of Europe is coming. Read More Here

If Marijuana Production Were Legal: Projected Tax Revenues, by State

Love it or hate it, people smoke marijuana – lots of it. In some states marijuana consumption and possession have been decriminalized, and even legalized for medicinal purposes. But, have you ever wondered how large the economics of Marijuana were? Us too. As a result ,have decided to put together this graphic, which illustrates the popularity of marijuana consumption, the federal tax dollars spent to keep marijuana illegal, and the possible tax revenues that could be generated if marijuana production were legalized and taxed like any other agricultural product. Read More Here

(RussiaToday) – Video: Alex Jones on Greece: It’s Robbery, Not Bailout!

Greece has kick-started talks on implementing its new economic austerity measures despite warnings of new union rallies. The plans will see pensions slashed and the retirement age increased. The measures were a pre-requisite for an international loan to pluck the country from the brink of bankruptcy. But investigative journalist Alex Jones says the bailout is a crime and will only hit tax payers even harder in the pocket.

(Infowars) – Video: Webster Tarpley Predicts End of The EURO on Alex Jones Tv

Part 1 of 2

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Economy

(Cato@Liberty) – Costly IRS Mandate Slipped into Health Bill

A few wording changes to the tax code’s section 6041 regarding 1099 reporting were slipped into the 2000-page health legislation. The changes will force millions of businesses to issue hundreds of millions, perhaps billions, of additional IRS Form 1099s every year. It appears to be a costly, anti-business nightmare. Read More Here

(DailyMail) – Greek police and protesters clash as fury over economic chaos spills on to streets – Read More Here

(NYTimesBlog) – Where All That Money Went

“We’ve lost almost $11 trillion of household wealth in the last 17 or 18 months,” lamented Senator Christopher J. Dodd, the Connecticut Democrat, on last Sunday’s “Meet the Press,” as he urged Congress to proceed with speedy deliberations on a finance reform bill.
Eleven trillion dollars! That’s over three-quarters of our current gross domestic product. Read More Here

(BusinessInsider) – Here’s Why US GDP Growth Is Unsustainable

The US turned in a fairly robust quarter in Q1 2010, with real GDP growth meeting expectations at 3.2% annualized. This comes on the back of a very robust annualized 5.6% growth in the previous quarter. This is the best growth two-quarter growth we have seen since 2003.

However, when one digs deeper, it is obvious this growth is unsustainable because it is predicated on a reduction in savings rates and a releveraging of the household sector. As a result, I expect weak GDP growth in the second half of 2010. Read More Here

(HuffingtonPost) – Goldman Sachs Reveals it Shorted Gulf of Mexico (SATIRE)

In what is looming as another public relations predicament for Goldman Sachs, the banking giant admitted today that it made “a substantial financial bet against the Gulf of Mexico” one day before the sinking of an oil rig in that body of water. Read More Here

(HoweStreet) – The Welfare State Meets Mathematics

The simple matter is that many nations have been living beyond their means and investors are beginning to doubt governments are good credit risks. That’s saying something, when governments can simply confiscate from the public the money needed to pay bond holders. But debt-to-GDP levels are now so high across the Western world that bond investors (and ratings agencies) are having serious doubts. Read More Here

(ZeroHedge) – With $2 Trillion In 3 Year Funding Needs By the PIIGS, The IMF Is Helpless To Do Anything But Sit Back And Watch

Total PIIGS funding needs (defined as the sum of debt maturities and budget deficits) over the next 3 years amount to $2 trillion. Total PIIGS funding needs in 2010 alone amount to $600 billion. Total IMF bail out capacity: around $700 billion. Sorry – it simply does not compute.

Below is a table summarizing the funding needs of just the PIIGS. Read More Here

(WashingtonsBlog) – If We Broke Up Standard Oil, We Can Break Up the Giant Banks – Read More Here

(BizJournals) – Honolulu foreclosures soar 123% in Q1 – Read More Here

(CNBC) – Spain Jobless Rate Surpasses 20%

Spain’s jobless rate has surpassed 20 percent for the first time since 1997, the government said Friday as it offered more dismal news for a recession-plagued economy that is being dragged into Europe’s debt crisis. Read More Here

(BizJournals) – Florida has highest private student loan delinquency rate – Read More Here

(MercuryNews) – San Jose council cuts its own pay 10 percent

The city is trying to close a record $116 million operating deficit for the upcoming budget year and hundreds of layoffs are anticipated. Read More Here

(BizJournals) – Report: Tech industry dumps 246,000 jobs in 2009

The job losses likely will be much higher in the 2011 report (which will have 2009 state stats) reflecting the full weight of the recession. Read More Here

(knightNews) – UCF Tuition and Fees Could Soar 23% Combined Under Legislative Deal

State lawmakers gave the greenlight for the University of Central Florida and other state schools to hike fees by 15 percent and raise tuition by another 8 percent — while at the same time slashing funding for the Bright Futures scholarship program. Read More Here

(BizJournals) – Report: Alabama manufacturing jobs down 7% in last year – Read More Here

(AP) – Mortgage fraud incidents rise 7 pct last year

Incidents of residential mortgage fraud increased last year, a sign that scammers are still targeting the industry despite more diligent efforts to find and report such activity. Read More Here

(YouTubeVlog) – Video: Peter Schiff – How an Economy Grows & Why it Crashes Continue reading

Video: Judge Napolitano on the Alex Jones Show

(April 28) – Alex welcomes back to the show Andrew Napolitano, a former New Jersey Superior Court Judge, political and legal analyst for Fox News Channel, and a dedicated defender of the Constitution and the Bill of Rights. Continue reading

Video: Ron Paul – Freedom is the Answer!

(Fox) – April 20, 2010 – Ron Paul is America’s leading voice for limited constitutional government, low taxes, free markets, and a return to sound monetary policies Continue reading

Putting the Constitution Back into the Oval Office – Ron Paul

(C4L) – Since my 2008 campaign for the presidency I have often been asked, “How would a constitutionalist president go about dismantling the welfare-warfare state and restoring a constitutional republic?” This is a very important question, because without a clear road map and set of priorities, such a president runs the risk of having his pro-freedom agenda stymied by the various vested interests that benefit from big government. Continue reading

America’s Impending Master Class Dictatorship

(Kitco) – FOREWORD: At certain times, focusing on the big picture is important not just for investment success, but for personal welfare, and even survival. We believe such times are here. It is estimated that 98% of Americans have never held a gold coin in their hands. Yet 100% of Americans regularly handle Federal Reserve Notes. From a contrarian standpoint, the financial message from those two statistics is clear. Even so, gold is much more than money or an investment medium; it stands for liberty and throughout history has facilitated escape and ensured freedom. Continue reading

South Carolina Lt. Governor Makes Disgusting Eugenics Comments

While South Carolina Lt. Governor Andre Bauer has had a reputation for his obnoxious and irresponsible behavior for at least a few years, it appears his latest display has rivaled, if not topped, his previous endeavors. As the South Carolina Governor’s race begins to pick up steam, Bauer spoke at a town hall meeting last Thursday where his remarks have drawn a significant amount of criticism. This is due to the fact that during the course of his speech he likened welfare recipients to stray animals and suggested that they breed too much. (AP) Continue reading

MSM: California Requests Billions From U.S.

(WSJ) – Republican Gov. Arnold Schwarzenegger asked for $6.9 billion in federal funds in his state-budget proposal Friday and warned that state health and welfare programs would be threatened without the emergency help. Read More Here

MSM: House narrowly passes landmark health care bill

(AP) – In a victory for President Barack Obama, the Democratic-controlled House narrowly passed landmark health care legislation Saturday night to expand coverage to tens of millions who lack it and place tough new restrictions on the insurance industry. Republican opposition was nearly unanimous. Continue reading

Hoyer Says Constitution’s ‘General Welfare’ Clause Empowers Congress to Order Americans to Buy Health Insurance

House Majority Leader Steny Hoyer (D-Md.) said that the individual health insurance mandates included in every health reform bill, which require Americans to have insurance, were “like paying taxes.” He added that Congress has “broad authority” to force Americans to purchase other things as well, so long as it was trying to promote “the general welfare.” Continue reading

Video: Climate Treaty Will Create World Government Dictatorship

The Conference of the Parties (COP) to the United Nations will hold their 15th conference on climate change through December 7-18th. At the conference, globalists like Obama will sign the ‘Copenhagen Climate Change Treaty’ that will replace the Kyoto treaty that is set to expire in 2012. Continue reading

Oligarchic Senate Still ‘Treasonous’ After All These Years

October 16, 2009 “Information Clearing House” — -Where are gutsy muckrakers of yesteryear?  In a stunning 1906 Cosmopolitan expose, journalist David Graham Phillips made history with his headline, “The Treason of the Senate.”  He then justified his condemnation of mercenary senators, then cherrypicked by states and owned by nefarious Trusts: Continue reading

Pity the Imperialists – Campaign for Liberty

Pity the imperialists. What do they do? They must realize that the longer they continue occupying Iraq and Afghanistan, the more they weaken the Empire. Hey, they don’t call Afghanistan the “graveyard of empires” for nothing. Continue reading

Obama Is Moving Forcefully to Concentrate All Power in Himself

Chuck Baldwin’s excellent essay below gives some more details on recent moves by the Obama forces to seize direct control over U.S. police, quasi-private military forces, and to create new forces under control of the Party. Continue reading

Greenback Gases, Gold & the Coming Shift

Bankers in charge of our economies makes as much sense as candy makers being in charge of our diets Continue reading

MSM: Obama – Legalize illegals to get them health care

(WATimes) – President Obama said this week that his health care plan won’t cover illegal immigrants, but argued that’s all the more reason to legalize them and ensure they eventually do get coverage. Continue reading

Video: You Can’t Solve an Existing Bubble by Creating a New One! – Ron Paul

(MSNBC) – Congressman Paul discusses the failures of Keynesian economics, the true cause of the financial crisis, and the need to end the Fed Continue reading

Health Care Wanted: Dead or Alive – Dennis Kucinich

The masquerade is over! The “public option” is … dead.

Health care reform is now a private option: WHICH FOR PROFIT INSURANCE COMPANY DO YOU WANT? You have to choose. And you have to pay. If you have a low income, under HR3200 government will subsidize the private insurance companies and you will still have to pay premiums, co-pays and deductibles. Continue reading

Too Many (Other) People

As a left-leaning Rutgers law professor in the early 1970s, Ruth Bader Ginsburg thought that the Roe v. Wade abortion decision was the product of “concern about population growth and particularly growth in populations we don’t want too many of,” she recalled in a recent New York Times Magazine interview. Continue reading

MSM: Fiscal ruin of the Western world beckons

(Telegraph) – For a glimpse of what awaits Britain, Europe, and America as budget deficits spiral to war-time levels, look at what is happening to the Irish welfare state. Continue reading

MSM: We Need Greater Global Governance

(WSJ) – Fingering the villain in the banking crisis of 2008 turns out to be tougher than it looks. Was it the banker with the skewed incentives and the poor grasp of risk? Was it the over-indebted consumer with the 125% mortgage? Was it the politicians and regulators who failed to see the risks in both? Continue reading

MSM: Numbers On Welfare See Sharp Increase

(WSJ) – Welfare rolls, which were slow to rise and actually fell in many states early in the recession, now are climbing across the country for the first time since President Bill Clinton signed legislation pledging “to end welfare as we know it” more than a decade ago. Continue reading

Nobel Economist Stiglitz: Government’s Response is WORSE than Socialism

Some have called this “socialism with American characteristics”. But socialism is concerned about ordinary individuals. By contrast, the US has provided little help for the millions of its people who are losing their homes. Continue reading

California contemplates ultimate reform – no welfare

Could California become the first state in the nation to do away with welfare? That doomsday scenario is on the table as lawmakers wrestle with a staggering $24.3 billion budget deficit. Continue reading

MSM: California faces its day of fiscal reckoning

The day of reckoning that California has been warned about for years has arrived. The longest recession in generations and the defeat this week of a package of budget-balancing ballot measures are expected to lead to state spending cuts so deep and so painful that they could rewrite the social contract between California and its citizens. They could also force a fundamental rethinking of the proper role of government in the Golden State. Continue reading

Throw the Bums Out – All of Them, Senate Millionaires Kill Mortgage Assistance for Citizens

The United States Senate took a swipe at the spirit of May Day in a spectacular show of callous indifference when it voted down a bill to provide limited assistance to citizens at risk for losing their homes. Continue reading

MSM: Rudd Government considering sending youth unemployed to boot camps

The Federal Government wants military-style “boot camp” training overseen by the Department of Defence for Australia’s unemployed youth, Cabinet sources confirmed last night. Continue reading

A Century of Bipartisan Tyranny – Campaign for Liberty

Modern U.S. political history is a story of both parties, committed to statism, at war with American liberty. Continue reading

Video: Violence is not the solution, A statist intervention

Hear more from Stefan Molyneux at FreedomainRadio.com. Continue reading

The New World Order of The People (Part 2 of 4)

I Mad As Hell… You Should Be To!

We must become angry! That is the first thing we must do like from the film “The Network” when the protagonist says “I want you to get mad! I want you to say ‘I mad as hell and I won’t take it anymore!’ I am a Human Being Dammit, My Life has Value!” You must get angry enough that you will no longer be tolerant and apathetic towards the illusions, distractions and dependencies. Freedom belongs to those who have the courage to fight for it, if you are an American you must have the capability to find your courage to fight for it. No more will I allow myself to submit to fear and the same with those around me. No more will I support the welfare state which is responsible for all the problems of this society. Continue reading

MSM: Almost one in 10 Floridians are on food stamps

 

MIAMI — Unemployed and strapped for cash, Floridians are asking for state assistance to feed their families in record numbers.

In the last two years, the number of Floridians on food stamps has increased more than 40 percent to 1.7 million. That increase is the highest in the nation, according to the U.S. Department of Agriculture. And it’s the second-largest jump in the state’s history, surpassed only during the aftermath of Hurricane Andrew, said an analyst at the Center of Budget and Policy Priorities, a Washington-based think tank.

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Eugenics… but in the Name of What?

Worried that welfare costs are rising as the number of taxpayers declines, state Rep. John LaBruzzo, R-Metairie, said Tuesday he is studying a plan to pay poor women $1,000 to have their Fallopian tubes tied.

“We’re on a train headed to the future and there’s a bridge out,” LaBruzzo said of what he suspects are dangerous demographic trends. “And nobody wants to talk about it.”

LaBruzzo said he worries that people receiving government aid such as food stamps and publicly subsidized housing are reproducing at a faster rate than more affluent, better-educated people who presumably pay more tax revenue to the government. He said he is gathering statistics now. Continue reading

MSM: Labour is Malignant, not Incompetent

This article needs no introduction, as Simon Heffer of the Daily Telegraph hits the nail on the head. Squarely. It may be a little dated now, but it maintains its relevancy.

Excerpts:

The problem with accusing a government, or any institution or person, of incompetence is that it seems to excuse its motives.

When we say, as we should often feel the temptation to do, that the Labour administration that has governed us for the past 11 years is incompetent, we should be aware also that we are saying the following: that, but for its administrative and technical failings, it would have done well.

I do not believe this to be true. Despite the sheen of reason that Gordon Brown and, before him, Tony Blair and their chums have sought to put on all they do, this Government has had dark motives from the start.

When one applies the doctrine on non-incompetence more widely, one hears other echoes. We have lived beyond our means not because economic growth has not, or will not, live up to its earlier billing, but because Mr Brown’s priority was to create a client state of feather-bedded Labour voters.

Knowing it would harm economic stability, he set about printing money and borrowing excessively to put people on the public payroll, and to cushion hordes of the undeserving, Labour-voting poor with welfare benefits. This was not incompetent, however it might look: it was deliberate and stunning in its calculation.

The element of deliberation and deliberateness in what Labour has done makes an accusation of incompetence, or carelessness, seem wide of the mark. Things were meant to be this way.

Labour has pursued policies, be they social or economic, for ideological reasons: and when they fail, as so many have, it has not been because of slipshod administration. It is because that was how things were always going to work out.

Indeed, this government has succeeded in almost everything it has set out to do. Much like how if a theif burgles your entire house, it is a success for him, but a ‘failure’ for you.

The full article follows.

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MSM: “Free” Trade is ‘simply good’, claims known advocate of Global Welfare System

Bjørn Lomborg, and many like him, enjoy idly tossing around this term “Free Trade”, which when defined by them, tends to not really be Free in any sense of the word. Unless it’s in reference to “Free-Reign”, as in, ‘The Free Reign of the select group of leftist roundtable organisations and central bankers who weild near-absolute control over our economies with virtually no trouble at all, for the purpose of redistributing our wealth’.

Lomborg organised the Copenhagen Consensus in 2002, which seeks to establish priorities for advancing global welfare, while he was then director of the Danish Government’s Environmental Assessment Instuitute. The Copenhagen Consensus’ ideas are all seated atop a theory of Welfare Economics.

With that as background we now see Lomborg in The Times of Japan, arguing for his perception of Free Trade. It’s important that we note the convergence of ideas in his article, as well as his astounding conclusion:

Global fear about free trade leaves the planet at risk of missing out on the extraordinary benefits that it offers. Free trade is good not only for big corporations, or for job growth. It is simply good.

Isn’t it amazing how these organisations that deal in ‘Cost-Benefit Analysis’, so often morph into round-table groups that attempt to conduct the role of politics? Politics is about setting goals. Analysis is about choosing the paths to get to those goals. When the two become one and the same, this is what we get, pre-prescribed policies based on terms that have undergone so much semantic drift as to carry a completely different meaning from the words that actually frame them.

The full and totally shambolic article follows.

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