Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Up and down the nearly bankrupt state of California are school districts that have borrowed hundreds of millions of dollars. They are now in the hole ten to one. They sold bonds. These bonds are not payable by amortization. Interest builds. Then, one fine day, the districts will have to come up with the money [...]
Continue reading →Pat Buchanan thinks that Boehner should have rejected Timothy Geithner’s demand of $1.6 trillion in tax increases. Buchanan did not mention that Boehner responded with an offer of $800 billion in tax increases. Buchanan thinks Boehner is worried about what voters will do if the Republicans refuse to go along, and the economy tanks. He [...]
Continue reading →People and institutions still lend money for 90 days to the U.S. government in order to earn a tenth of one percent per year interest. They trust the government. Yet the fiscal cliff charade goes on. The U.S. government cannot pay its bills without borrowing more money. The whole world knows this. But the “smart [...]
Continue reading →There is now a proposal before Congress for the government to pay off all the banks that have lent money to students. The government has already changed the bankruptcy law to make it almost impossible for students to escape this debt. But the banks still cannot collect the money. So, it’s Congress to the rescue! [...]
Continue reading →Salman Khan of the Khan Academy has lots of videos on business and economics. Here is a great one. He takes us through the problem of unfunded liabilities. These are growing so fast in Illinois that they cannot be funded much longer. In 2018, more Illinois taxpayers’ money will go to retired teachers than to [...]
Continue reading →Republican Senator Bob Corker of Tennessee calls for means-testing Medicare. Charge them higher premiums, he says. “There’s no reason in the world for wealthy seniors to be subsidized with American taxpayer money for healthcare benefits that they can afford.” I can think of one: they were promised they would be paid. I can think of [...]
Continue reading →Gary North’s Reality Check (Nov. 20, 2012) For every dollar of increased debt in the American economy, the gross domestic product rises by about 8 cents. From 1947 to 1952, GDP rose by over $4.60 for every increased dollar of debt, both public and private. From 1953 to 1984, the payoff it dropped to about [...]
Continue reading →If you think there is any way this government will not go bankrupt, stiffing the geezers good and hard, go to this page. Click print PDF. It will not print. It will open. Print out pages 53 to 59. Read them. There are short articles by Art Laffer, Tom DiLorenzo, the late, great Warren Brookes, [...]
Continue reading →How bad is the budget defict? Irreparably bad.
Continue reading →You may have seen the Keynes vs. Hayek rap video. Over 3,000,000 people have. Here is an example of a popular culture format — rap videos — being put to use for education. I would not have thought of this, but someone in the free market social order did. The economic theories of each economist [...]
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