Debt Ceiling Will Not Move Until After Labor Day

Written by Gary North on July 17, 2013

The official, on-budget debt of the United States government has hit a plateau. It remains $56 billion below the debt ceiling. It has not moved up for two months. It is locked at $16,699,396,000,000. But the spending continues. The government has spent about $500 billion more than it has received in revenues so far this […]

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Jim Wallis: White Liberal Protestantism’s Al Sharpton

Written by Gary North on July 16, 2013

Rev. Jim Wallis, the far Left, self-styled evangelical for high taxes on the rich, wealth-redistribution, endless federal programs, and all in the name of Jesus, has once again proven that he is the master of guilt-manipulation. He cries out against white Christians’ acceptance of the jury’s decision in the Zimmerman trial. The prosecution failed, he […]

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Mises vs. Mises: The Death of Socialism

Written by Gary North on July 16, 2013

The most influential thing that Ludwig von Mises (1881-1973) ever wrote was a brief article in 1920 on socialist economic calculation. He argued that socialist central planning is impossible, because without a system of free markets, nobody knows what anything costs, and therefore nobody knows what anything is worth. That argument convinced a whole generation […]

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Bernanke on the Federal Reserve: “We Are Faking It.”

Written by Gary North on July 16, 2013

Bernanke on July 10 delivered a classic Bernanke speech: 44 footnotes. Title: “The First 100 Years of the Federal Reserve: The Policy Record, Lessons Learned, and Prospects for the Future.” Setting: a conference sponsored by the National Bureau of Economic Research. The NBER is the #1 academic organization devoted to studying America’s business cycles. It […]

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The Phrase “Conspiracy Theory” Was Coined by the CIA in 1964.

Written by Gary North on July 16, 2013

So argues Lance DeHaven-Smith. He is a professor in the Reubin O’D. Askew School of Public Administration and Policy at Florida State University. He also served as President of the Florida Political Science Association. He is author of a dozen books, including The Battle for Florida, which analyzes the disputed 2000 presidential election. DeHaven-Smith has […]

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Subsidized Food Programs: 100 Million Americans

Written by Gary North on July 15, 2013

You may have heard that 47 million Americans are on food stamps, or as they call it these days, SNAP: Supplemental Nutrition Assistance Program. But wait! There’s more! What about subsidized lunches for children? Add 32 million. What about school breakfast programs? What about WIC — Women, Infants, and Children? Don’t forget snacks at day […]

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“You’ve Got Guns!” A New Smart Phone App

Written by Gary North on July 15, 2013

A new app has just been released. It lets people identify you as a gun owner. They can mark your address on a map. The app lets anyone find out where you live. It’s “Guns R Us” at a touch of the screen. The app lets anonymous people identify anyone as a potentially unsafe gun […]

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Investing in China: The Story Behind the Story

Written by Gary North on July 15, 2013

If you had invested in China’s brand-new stock market in 1993, how much would you have made? Ten to one? Less. Five to one? Less. Two to one? Less. You would have made 1% a year. Yet Chinese who live in in cities are vastly richer today than in 1991. In China, the system pays […]

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