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New Jersey Will Default on Government Pensions

Written by Gary North on July 31, 2014


State by state, county by county, city by city: they will default. The money is not there. The promises were huge. New Jersey’s governor Christie is touring the state, telling the voters that the state will break promises to retired government workers. He is doing what other government officials refuse to do: tell the truth […]

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Fed Announces (Tentative) End to Bond Purchases in October

Written by Robert Murphy on July 11, 2014


The recently released Fed minutes contain the following information on their plans to fully complete the so-called taper: [P]articipants generally agreed that if incoming information continued to support its expectation of improvement in labor market conditions and a return of inflation toward its longer-run objective, it would be appropriate to complete asset purchases with a […]

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Stockman’s Warning on Corporate Debt

Written by Gary North on July 3, 2014


What goes up (bond prices), will go down. What goes down (bond interest rates), will go up. That is David Stockman’s warning. Corporate bonds are the financial IEDs (improvised explosive devices) of monetary central planning. The Fed’s sustained, heavy-handed financial repression has generated the greatest ever scramble for yield, and it is now entering its seventh […]

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Trump’s Warning on Federal Debt

Written by Gary North on July 3, 2014


Donald Trump recently sounded a warning on the growth of the U.S. Government’s debt. He thinks that the USA is headed toward the condition of Greece and Spain. My view: that will take time. Greece and Spain are nations where trade unions are dominant. This is not true in the USA. The unions have at […]

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10 Things I Wish I Would Have Known in High School

Posted on February 7, 2014


In our culture today, almost nothing is expected of our youth until after they reach adulthood, that glorious day that we have held up for decades, the day one graduates from college. It’s the beautiful day in which all young people are supposed to magically stop wasting all their time, blowing all their money, get […]

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Free at Last! Detroit Stiffs the Municipal Unions.

Written by Gary North on December 4, 2013

A judge has upheld the bankruptcy of Detroit. In one fell swoop, the taxpayers of Detroit have freed themselves from the economic burden of the retirement and health programs that had been promised to municipal union members. For decades, the liberal political establishment had bought votes from the unions. They had signed agreements guaranteed to […]

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Why College Debt Is Lower Class

Written by Gary North on November 22, 2013

A student who goes to college to earn a degree is future-oriented. But a student who uses extensive debt to finance this project is unbelievably present-oriented. He has not counted the cost of years of debt in the early stage of his career. Instead of building capital in his early years, and letting it compound, […]

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