The price of one ounce of gold exceeded $1,500 yesterday, and immediately the media was filled with explanations. Jan Harvey, writing for Reuters, said gold was benefiting from “the threat of a downgrade to the United States’ triple-A credit rating this week and fresh worries over euro zone debt [that] fueled fears over the outlook for both the dollar and the euro.”
When the federal government took over General Motors in July of 2009, it was “the only way to avoid an economic calamity,” according to President Obama.
Stuffed full of $50 billion of taxpayers’ money, GM began to revive, a little. It had lost an amazing $103 billion over the previous five years, partly by acceding to union demands for generous compensation packages (including payments to workers even when the plants where they worked weren’t even running!), and partly by misreading market conditions and their competition.
Each year, American taxpayers lose anywhere from 20 to 50 percent of their income to the federal and state government in taxes, with the additional cost of filing taxes averaging approximately $20 billion annually. However, those figures pale in comparison to the 20 shocking tax-related facts put together by Business Insider, ones that will reportedly “make your head explode.”
As the supporters of President Barack Obama have complained about tax cuts for the rich during the ongoing budget debate, one group of Americans has escaped their notice: the 45 percent of Americans who will pay no federal income tax at all for 2010.
The Competitive Enterprise Institute released a report today entitled Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State, compiled by Wayne Crews, which reveals that the cost to Americans for complying with federal regulations far surpasses the amount of the federal budget deficit.
There are different ways of calculating unemployment. The data provided by the Bureau of Labor Statistics culls out those who are not seeking employment, which may include people who no longer need to work (because they have retired, their spouse has found a good job, or because their financial situation improved.) Those Americans no longer seeking work, however, may also include those who have simply given up trying to find a job because the market seems hopeless.
It was President Richard M. Nixon, a favorite of the neoconservative establishment, who announced in his first term that "We're all Keynesians now," indicating that the old Republican bible of balanced budgets and a limited role for government in the marketplace was dead forever. Perhaps a future President — no doubt one who, like Nixon, got elected by preaching the virtues of free markets and small government — will look back at the Bretton Woods II Conference and announce grandly: "We're all Sorosians now."
You might be an "economite" if you … prefer city lights to starry skies in wide open spaces; agree that a college education is worth going into significant debt; patronize stores in which the majority of the goods were made in Communist China; believe that illegal immigrants are needed to "do the jobs Americans won’t do"; forego family time to work to afford more expensive gadgets, clothes, and trips; are making minimum payments on credit card debt; subscribe to Forbes magazine; are bored without modern entertainment like sports teams, video games, social networking sites, reality shows, and iTunes; think free-trade agreements (like NAFTA, CAFTA, and KORUS FTA) benefit our economy; support politicians who think economic growth is always beneficial to a community; frequent casinos; or eat to thrive rather than to survive.
Leftist billionaire George Soros (picture, left) has openly advocated for the destruction of American sovereignty, the “managed decline” of the United States dollar, the need for open borders and the “creation of a New World Order.” Soros has also declared the United States to be the greatest obstacle impeding upon the creation of that New World Order and has announced that China would serve as the better leader in the New World Order.
When Terence Jeffrey, writing for CNSNews.com, noted that true federal spending for the fiscal year 2010 wasn’t $3.7 trillion after all, but closer to $11 trillion, he discovered an old accountant’s trick to make things look worse (or better) than they are: either double count, or don’t count at all.
Is there a Shariah threat to America? Some believe so and on Friday’s episode of the Glenn Beck program, guests discussed the threat of Shariah law to the United States and the manipulation of the American public into accepting Shariah through the imposition of Shariah-compliant financing.