Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on November 26, 2016
Granny is going to bankrupt the country, not the “under-62” welfare class. This is a useful table: http://www.statisticbrain.com/welfare-statistics Here, we learn that the total amount of welfare payments from the U.S. government, not counting food stamps and unemployment, is $158 billion. The total federal budget is $4 trillion. Most welfare is not considered welfare: Social […]
Continue reading →Written by Gary North on March 12, 2016
My friend and former business manager John Mauldin has become an economist. I hate to see this. He is a good analyst. He is a good commentator on business trends. His site is a veritable clearing house of insights of famous market analysts. But now he has wandered astray. He has become an economist. His […]
Continue reading →Written by Gary North on January 9, 2016
“Well, that’s the news from Lake Wobegon, where all the women are strong, all the men are good looking, and all the children are above average.” — Garrison Keillor To understand why the welfare state will continue to expand its operations until such time as the Great Default ends it, we must understand Lake Wobegon […]
Continue reading →Written by Gary North on November 28, 2015
The Social Security System is actuarially (statistically) bankrupt. It’s only a question of when it will go under, and the form the bankruptcy will take. Without massive monetary inflation, there is no way that someone entering the program today will ever be repaid for the heavy taxes he will shell out. In order to postpone […]
Continue reading →Written by Gary North on August 15, 2015
This 26-minute discussion lays out various scenarios for the statistically inevitable bankruptcy of pension funds.
Continue reading →Written by Gary North on March 12, 2015
You read that right: $210 trillion. A trillion here, a trillion there: pretty soon, we’re talking big money. Professor Lawrence Kotlikoff of Boston University testified before the Senate Budget Committee. As usual, his testimony is shocking The U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed […]
Continue reading →Written by Gary North on January 8, 2015
If you have no financial reserves, you will have to go into debt if even a minor emergency hits you. This is the condition of most Americans. They do not save. They are present-oriented. They live from paycheck to paycheck. They hope that nothing unexpected happens. Credit card companies wait on the sidelines, knowing that […]
Continue reading →Posted on January 8, 2015
Buried in new rules that will govern the House for the next two years is a provision that could force an explosive battle over Social Security’s finances on the eve of the 2016 presidential election. Social Security’s disability program has been swamped by aging baby boomers, and unless Congress acts, the trust fund that supports […]
Continue reading →Written by Gary North on December 22, 2014
Central planning by the federal government is officially opposed by conservatives until you show them a marker that says “United States” on one side, and “Mexico” on the other. Then: “Congress needs to build a fence!” The believers in fences offer many arguments. Some of them say this: “Those people want to get free government […]
Continue reading →Posted on December 22, 2014
The Consumer Financial Protection Bureau (CFPB) recently reported that for older Americans, debt collection is the top complaint. About one out of three complaints submitted to the agency by seniors is about debt collection. The major complaints include being hounded for medical debts currently in dispute, attempts to collect the debts of deceased family members […]
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