In its annual Index of Economic Freedom, the joint effort by the Heritage Foundation and the Wall Street Journal, Canada ranks 6th among the 179 countries of the world, ahead of the United States (9th), the United Kingdom (16th), Japan (20th) and Germany (23rd). Considering ten components of economic freedom (among them: Business Freedom, Fiscal Freedom and Government Spending), the report ranks countries on the degree to which “individuals are free to work, produce, consume and invest in any way they please, with that freedom both protected by the state and unconstrained by the state.”
United Nations Secretary General Ban Ki-Moon believes that there is a global environmental crisis that requires looting the Western economies to the tune of trillions of dollars in coming years. But such financial plundering apparently will not be standing in the way of a quite substantial pay increase for United Nations employees.
In his report to a Senate subcommittee Postmaster General Patrick Donahoe (left) spelled out clearly why the U.S. Postal Service can’t make any money: too many cooks in the kitchen. Hamstrung and limited by rules and “stakeholders” with differing and often competing agendas, what’s remarkable is that the postal service isn’t deeper in the hole.
Roger Jinkinson is a British writer, and he lives in a remote Greek village on the island of Karpathos (left). Although the village is not immune to the meltdown of the Greek economy caused by a huge problem with sovereign debt creditworthiness, simmering most furiously in the ancient capital of Athens, 400 kilometers away, the small village has found its own way to survive the crisis.
With the raising of the debt ceiling, the “official” federal debt immediately surged past a new and unwelcome benchmark: The national debt now exceeds 100 percent of the gross domestic product for the first time since the Second World War era. With the debt now at $14.58 trillion and climbing vertiginously every day even as the economy continues to stagnate, it will not be very long before the national debt reaches 200 percent and higher. In fact, with over $45 trillion owed to Social Security, Medicare, and Medicaid recipients both present and future, the actual size of the national debt is already more than four times the GDP.