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The Effects of Student Loan Debt

Written by Gary North on October 9, 2014

A student whose parents have looked out for him — and for themselves — can earn a B.A., degree at an accredited university for under $15,000, usually by age 20, but in some cases by age 18. The man who supervises the daily mailing of this report received his B.A. in the month he turned […]

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“Full Faith and Credit” and Related Delusions of Grandeur

Written by Gary North on October 8, 2014

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Approximately half of all Americans receive government subsidies of one kind or another. This is seen by some conservatives as the demise of the American Republic, the death-knell of resistance to the welfare state. It is nothing of the sort. It is strong evidence of the opposite: the high-water mark of the American welfare state. […]

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$777 Billion Deeper in Debt–Fiscal 2014

Posted on October 1, 2014

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The U.S. Treasury needed to pay off a record of approximately $7,546,726,000,000 in maturing Treasury securities in fiscal 2013, which ended last Monday, according to Treasury’s official accounting. During the same period, the Treasury turned around and issued another $8,323,949,000,000 in new Treasury securities. The spread between the old debt held by the public that […]

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Murray Rothbard, 1; Jim Willie, 0

Written by Gary North on September 26, 2014

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One year ago, Jim Willie made a big mistake. He wrote off Murray Rothbard as a dolt. He did not mention Rothbard by name. He was too smart for that. He simply dismissed Rothbard’s description of how the Federal Reserve System works. Jim Willie thought he knew better. I warned him about this. He ignored […]

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New Jersey Will Default on Government Pensions

Written by Gary North on July 31, 2014

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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

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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

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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

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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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