Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
A free daily subscription service from Ron Paul's original staff economist.
For over half a century, American men have been dropping out of the job market. As a percentage of the population, men have fallen. This is a long-term trend. This change in men’s work patterns is partially caused by retirement. Retired people are out of the labor force. This is normal. So, the long decline [...]
Continue reading →Your teenager, or your child’s teenager, can’t get a job these days. Any job. Employment for teens is down to 25%. Only about 25 percent of 16- to 19-year-olds currently are working, a drop of 10 percentage points from just five years ago, according to the Bureau of Labor Statistics. The percentage of teenagers who [...]
Continue reading →The #1 source of new jobs in any economy is the creation of start-up businesses. In the 1980s, the percentage of new business start-ups to businesses in general was 13%. In 2010, it had fallen to below 8%. This was the lowest on record. In 2010, about 400,000 new businesses began. As a result, there [...]
Continue reading →Congress has been prohibiting Americans from buying low-cost sugar ever since 1789, the first year of the United States under the Constitution. This subsidizes the sugar growers, who have not operated in a free market in the nation’s history. But it’s not just the sugar growers who are the beneficiaries. Corn producers, whose product is [...]
Continue reading →The job market is rotten. College grads cannot get anything except fast food jobs. Meanwhile, they have $25,000 of debt. The Associated Press looked at the data published by the government. Kids with degres in science and engineering can get jobs. Median wages are down from 2000 in the liberal arts. Andrew Sum, director of [...]
Continue reading →The mayor of Muncie, Indiana is amazingly forthright. She speaks for most politicians. Over lunch in a downtown restaurant, McShurley looks back on four years of voter discontent and says, “We have ourselves to blame.” In 2008, she had confessed that her election was the result of a less-than-honest campaign: While promising to bring new [...]
Continue reading →We all know this is true. The law profession is glutted. Meanwhile, most graduate school students in engineering are temporary residents from foreign countries. A recent article in Business Week highlighted this. At all levels, the industry suffers from excess labor. The number of people with law licenses grew from 212,600 in 1950 to 1,225,000 [...]
Continue reading →It costs too much to buy a home in San Francisco. Families are leaving. The city is not able to keep them. Big cities with high prices are becoming demographically old cities. The future is with smaller cities. The Internet makes jobs available there. The cities were the heart of production in the pre-Internet era. [...]
Continue reading →We are now three years into the Obama Administration. So far, new regulations have added $46 billion in costs to businesses. This is four times the pace of the regulations under George W. Bush in his first three years. The Federal Register adds over 82,000 pages a year, each with three columns. This takes place [...]
Continue reading →Six years after home prices peaked in the USA, families are still trapped. It’s getting worse, month by month. They cannot sell their homes in order to take better-paying jobs. Think of the couple that bought a home in the Los Angeles suburb, La Puente. They paid $415,000. Then they took out a second mortgage. [...]
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