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$15t On-Budget (Admitted) Debt Limit Breached

Written by Gary North on November 18, 2011

The on-budget debt of the United States government breached the $15 trillion mark this week. This is the debt that is counted. It does not include the unfunded liabilities of Social Security and Medicare, which are now in the $100 trillion range over 75 years. Some estimates are higher. More important is the sources of […]

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Wall Street Journal Opposes the Flat Tax

Written by Gary North on November 16, 2011

The Wall Street Journal published an article opposing the flat tax. The author is Alan Blinder, a former Vice President of the Board of Governors of the Federal Reserve System. Blinder was a big supporter of the “cash for clunkers” program, which destroyed used cars at government expense. He teaches at Princeton University, where Bernanke […]

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Why We Will NOT Get Hyperinflation, Unless. . . .

Written by Gary North on November 15, 2011

Hyperinflation is triple-digit annual price inflation. I think it’s anything above 25%. Mass inflation is anything above 15% but below 25%. We are going to get mass inflation. We are not going to get hyperinflation. Why am I so “optimistic”? Because I see that the Federal Reserve Chairman Ben Bernanke is now caught in a […]

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Banking System at the Brink

Written by Gary North on November 1, 2011

Yesterday’s intervention by six central banks indicates how close to the edge of a financial crisis the world now is. A hard-hitting article in Britain’s Guardian reveals how close to a breakdown banks are in. The stunning move by six central banks to announce emergency measures to push more dollars into the financial system shows […]

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