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Obamacare Is Going Down

Written by Gary North on March 28, 2012

It is becoming clear that the compulsory medical insurance section of Obamacare is going to be declared unconstitutional by the Supreme Court. The vote will be 5 to 4. The fact that four justices will vote for it is indicative of just how far we have moved down the road to tyranny. Already, the liberal […]

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Another Round of Housing Bailouts

Written by Gary North on March 28, 2012

Fannie Mae is out of money again. Every few months, it returns to Congress and asks for more money. The U.S. housing market is a on life support. The few voters who are aware of this don’t care. Most voters don’t know. The two government-owned mortgage companies are bleeding us dry. Fannie Mae burned through […]

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Subprime College Loans: $270 Billion

Written by Gary North on March 27, 2012

There areĀ  about $1 trillion in college loans outstanding. Of these, over a quarter are a month late. Meanwhile, an estimated 85% of college graduates come home to live with their parents. They cannot get decent jobs. These graduates have a name: boomerang kids. Their parents sent them off to college at great expense. The […]

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These Congressmen Are Spending Us into the Poorhouse

Written by Gary North on March 19, 2012

Congressmen have a long-term a strategy of tacking boondoggle spending projects onto bills unrelated to these projects. These unrelated projects are called “earmarks.” These projects bring federal money into their districts. This is the process called “bringing home the bacon.” It is also called “pork.” Earmarking is a widespread practice. It has gotten worse in […]

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The Myth of Debt De-Leveraging

Written by Gary North on February 29, 2012

We keep reading of a great de-leveraging that is taking place. Yet the figures say the opposite. Debt is racing higher. In the United States, total debt, not counting unfunded liabilities of Social Security and Medicare, is now about $53 trillion. It has risen by $3 trillion since 2008. Debt owed by private citizens is […]

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Housing Prices Fall Again

Written by Gary North on February 29, 2012

The Case-Shiller housing price index fell 1% in December. That was down 4% for 2011. This index is an average of three months. The last time the index was this low was in 2003. That means that nine years of investment returns are zero. But of course, the returns are negative. The houses are older. […]

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Debt Ceiling Smash-Up Will Hit Early

Written by Gary North on February 27, 2012

The battle over the debt ceiling last year was prime-time news last summer. Congress finally consented to a huge increase. This increase was expected to last until well into 2013. It won’t. The next President’s inauguration will take place in the middle of another debate over what gets cut (nothing) and who pays higher taxes […]

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When the Government’s Checks Bounce, This Will Happen.

Written by Gary North on February 20, 2012

Americans think the U.S. government cannot go bankrupt.Foreign investors do, too. But what makes America different from Greece? As Greece has approached a debt to GDP ratio of 160%, its credit has declined. The USA is now at 100%. The USA has huge commitments: Social Security, Medicare, and defense. So does Greece. The voters will […]

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