The End of the American Dream Came in 2008

Written by Gary North on December 5, 2011

What is the American dream? A good job at a decent wage. This matters even more than owning your own home. A pair of historical charts show that this dream ceased to be a reality in 2008. They show that total non-farm employment declined in 2001, then shot up in Greenspan’s bubble. But employment fell […]

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FED Inflation Will Fail, Say Two FED Presidents

Written by Gary North on December 5, 2011

What’s  this? Creeping sanity at the FED? Well, at least at the Dallas FED. The U.S. Federal Reserve and other central banks must not succumb to calls for additional help from monetary authorities in the face of high budget deficits, two top Fed officials said on Friday. Using the Fed as a printing press to […]

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How the FED Buys the Economists’ Support

Written by Gary North on December 3, 2011

To buy the support of the nation’s academic economists, the FED pays millions of dollars in contracts. It hires economists to write papers that few people in the FED ever read. The FED hires thousands of economists for part-time projects. The FED understands this principle: “He who pays the piper calls the tune.” And: “If […]

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French Fried Banks

Written by Gary North on December 2, 2011

If Italy defaults in the next few weeks, or even suspends interest payments, French banks will need a massive bailout. Where will they get the money? From the French government? But where will it get the money? At what price? The dominoes could fall. Other nations’ banks could fail. The world faces French fried banks. […]

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$100,000 for a College Education That Fails You

Written by Gary North on December 2, 2011

James Altucher has written a great article on the 10 things he did not learn in college, but should have. I wish 4 million college-bound high school seniors would read it every year. (Over half never graduate.) I have been writing about this for over 30 years. It’s nice to see a few people who […]

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Banks Sued by Massachusetts for Illegal Foreclosures

Written by Gary North on December 2, 2011

The State of Massachusetts has refused to settle with the big banks that used what the state says was improper paperwork in foreclosing. Other state attorney generals had proposed a mild slap on the wrist of the banks. That joint deal is likely to fall apart. The banks say they will fight the State of […]

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A New Attitude Toward Owning a Home

Written by Gary North on December 2, 2011

Historically, Americans have wanted to own their homes. This is true, even though, on average, Americans move every five years. The goal of home ownership was a social phenomenon. But because prices always seemed to rise, and because you could get leverage (mortgage), home ownership became the most popular capital investment. All this burst in […]

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Nailing Physicians in 2012 — and Forever

Written by Gary North on December 1, 2011

Are you on Medicare? Be sure you have a regular physician. They may stop taking new patients. Congress is about to stick it to physicians: a 27% cut in Medicare payments, beginning January 1. This is called squeezing the providers. It will make medicare patients liabilities. There will be rationing at some point. Smart physicians […]

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