Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on July 22, 2013
For 40 years, it has been obvious to conservatives that Detroit would go bankrupt if the government would not change its ways. The government was running up huge bills to the workers for pensions and health care. Detroit was the poster child of bad government. Nothing changed. The Democrats had a lock on the city’s […]
Continue reading →Written by Gary North on July 19, 2013
It looked so easy. Go to work for the city. Get paid above-market wages. Get a pension. Get health care covered. It was Fat City. It’s Thin City today. The city has officially gone belly-up. It has filed for bankruptcy. The city was in debt to the pensioners for $3 billion. What about health care […]
Continue reading →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 […]
Continue reading →Written by Gary North on June 26, 2013
Gary North’s Reality Check The National Institute on Retirement Security has issued a report: The Retirement Savings Crisis: Is It Worse Than We Think? There is no question about it; it is worse than we think — way, way worse than we think. It is posted here. The report is divided into two parts. The […]
Continue reading →Written by Gary North on June 14, 2013
New accounting standards are being applied by Moody’s to cities. It turns out that the two biggest cities in California — Los Angeles and San Francisco — are way deeper in the hole than previously admitted. But wait! There’s more! San Jose will be downgraded. So will Inglewood (“The Hood”). So will Azusa. The total […]
Continue reading →Written by Gary North on May 14, 2013
Detroit is bankrupt. Everyone knows this. Everyone has known it for months. It is not official, but it’s close. The pension holders are going to see their dreams blown to dust. They are the cause. They will be the solution. The state has sent in The Terminator. He can shut the city down. He can […]
Continue reading →Written by Gary North on May 3, 2013
Europe is the poster child of Keynesianism. The southern countries ran huge government deficits for a decade. There was a boom. But that boom has ended. Mediterranean nations are in depressions. These depressions are getting worse. Hans-Werner Sinn is a German economist. He is known as one of the most pessimistic economists in Europe. But, […]
Continue reading →Written by Gary North on April 3, 2013
A recent survey by Fidelity, the mutual fund company, reveals that people say they have reduced their debt, are saving more, and they are confident that they are on the road to a safe, secure retirement. This was heralded as a new era for investors. Do the facts in the report confirm this? No. Today, […]
Continue reading →Written by Gary North on February 26, 2013
So, you think you are going to have long-term care if you need it. You have paid premiums for years. The joke’s on you! The company can get you off its books easily. It just doubles the premium. You go away. Tough luck, sucker! Think it can’t happen? Click the link.
Continue reading →Written by Gary North on February 19, 2013
Say it isn’t so, Joe. Not Michael Jordan. Not 50. There is a page with a bunch of Jordan movies. You will not be able to stop watching if you start watching. Somewhere in my collection of videos, I have the 1982 NCAA finals, which pitted the University of North Carolina against Georgetown. Jordan won […]
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