Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Arthur Laffer has proposed a new tax code for California. California is a continuing disaster zone: high unemployment, exodus of high-income people (Laffer was one), massive deficits, and slow economic growth. California is an anti-business state. But start-up businesses create jobs. In California, there are few new jobs. The climate is nice; the business climate [...]
Continue reading →The U.S. government gave a grant to a community in Washington to build a wine and food pavilion. But the Feds required the local community to cough up $100,000. I mean, it would look like a terrible waste of taxpayers’ money if the locals didn’t pay anything. Well local politicians aren’t going to be roped [...]
Continue reading →There are activists in the Tea Party movement who are unaware of when the movement began, and why. This video explains both. The issue is about more than taxes — just as the original tea party was. It’s about cutting spending. Because it is about cutting spending, there are fissures within the movement. As with [...]
Continue reading →Ding Dongs are made by Hostess, which also makes Twinkies. It has filed for bankruptcy. It has now asked the union to take a shot in the head: radically reduced pension fund contributions from the company: from over $100 million a year to $25 million. If the union says no, the bankruptcy court will decide [...]
Continue reading →The U.S. government is spending $133,000,000 to renovate a government office building in Portland, Oregon. It will make the building “green.” It will plant shade trees — 18 stories of shade trees. The savings are officially estimated to be $280,000 a year. A critical story in the American Spectator reports that this will take 475 [...]
Continue reading →State and local governments already owe $4.4 trillion in pensions fund obligations. This is growing daily. The one sector of America that is dominated by unions is government. Unions have disappeared in the rest of the economy. There can be no doubt that state and local governments will not be able to pay all of [...]
Continue reading →David Stockman was Ronald Reagan’s first budget director. He resigned because he thought Reagan’s program would produce a huge deficit. He was right. Reagan is the father of the triple-hundred-billion dollar deficit. He thinks the U.S. federal debt is a disaster. It will produce an economic disaster. Stocks will fall. Bonds will fall. Taxes will [...]
Continue reading →When a big firm like MF Global goes under, taking investors’ funds with it, the investors will probably not get paid. The people of the other side of derivatives (futures) contracts will. Recently Bank of America transferred a bunch of derivatives into their banking arm. “A bunch” means somewhere around $80 trillion worth. Now pay [...]
Continue reading →