Post Office Can’t Meet Its $11 Billion Payment

Written by Gary North on October 1, 2012

The U.S. Postal Service owes $5.6 billion to pay into its unionized workers’ health fund. It does not have the money. Let’s call this delay what is really is: a default. It is a prelude of things to come to the entire U.S. government budget. This is the second time in two months that the […]

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Welfare for Fat Cats Hit $100 Billion in 2012

Written by Gary North on August 9, 2012

The Cato Institute has released a report on the extent of corporate welfare payments by the U.S. government in fiscal 2012. It estimates that the total package is $100 billion. Of course, this was more than offset by the costs of federal regulation. As to which companies won, net, has not been traced, nor is […]

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$555,000 in Student Debt, Payments to Age 70

Written by Gary North on August 1, 2012

This woman is 41 years old. She is single. Anyone who marries her gets $555,000 in debt. No man wants to say “I do.” She is trapped until age 70, unless hyperinflation delivers her. No one warned her. Her father even co-signed for part of this debt. The world is full of economically illiterate people. […]

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Deficits, Republicans, and the Inevitable Great Default

Written by Gary North on June 5, 2012

When Reagan accepted $200 billion-a-year deficits, beginning in fiscal 1983, he ended Republican opposition to big spending and huge deficits. Today, Republican Congressmen occasionally talk tough on spending, but then they vote for programs that guarantee a huge, never-ending federal deficit. They know that hardly anyone back in the district will track their votes. They […]

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Tax Burden: 40 Million Government Workers

Written by Gary North on April 6, 2012

How many people work for governments in the United States. Let’s look at the numbers. The usual estimate of the number of employees of the U.S. government is 2.8 million. The estimate is fake. This does not count military personnel. But most important, it does not count contract workers paid by the federal government. The […]

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The $4.4 Trillion Pension Fund Bust

Written by Gary North on April 3, 2012

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 […]

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The Daisy Chain of Banking: From Europe to the USA

Written by Gary North on November 29, 2011

John Mauldin monitors the markets. He is the author of Endgame. He also used to be my business manager. He is less apocalyptic than I am, but is is scary enough. Here is his latest assessment: I am constantly asked what my biggest worry is. What is the largest monster I think I hear in […]

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