For the last decade, household incomes have been declining steadily, and the American middle class is being squeezed. In fact, barring a very dramatic change in political sentiment, the American middle class — the chief source of productivity and vitality in America for centuries — will likely be compressed out of existence.
What is certain is that an implosion in Europe's debt crisis is reaching the point of inevitability in much the same manner that the housing bubble came to a head and burst in the United States, but though no one knows when the debt crisis will come to a head, events are happening in September that may push the eurozone over a fiscal cliff.
They’re baack! After two decades, the UN’s eco-globalist faction has returned to Rio de Janeiro to put the “plan” back in “planet.” Now that we’re more than a decade into the new century, the globocrats have convened at Rio+20 in order to fine-tune their agenda.
That fine-tuning includes staying apace of consumer preferences. Nowadays, the Phenomenon Formerly Known as Global Warming is proving a harder selling point than it was a generation ago. What is popular is the mass extinction trope, an apocalyptic scenario that conjures up hellish visions of doomed dinosaurs choking on asteroid ash and hapless herbivores swept away by towering tsunamis. This epoch’s edition of extinction is subtler, with legions of species ushered into oblivion by the alleged depredations of humanity, from deforestation to, well, just about every other human activity imaginable.
Supposedly on Americans’ behalf, the U.S. government is employing new hardware, such as supercomputers, monitoring systems, and laws to literally and figuratively lay us bare at will. “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures” is being undermined by the new surveillance state.
In today’s extremely unsettled financial climate, one can hardly blame Venezuela or its erratic leader, Hugo Chavez, for deciding to bring home the gold.
On the morning of January 11, Mostafa Ahmadi Roshan, a 32-year-old chemist from Sharif University in Tehran, was riding in a Peugeot 405 along Shahid Golnabi Street in eastern Tehran. As his car inched through the morning rush-hour traffic, two men on motorcycles approached Roshan’s vehicle, attached a magnetic bomb to the side of the car, and raced off just before the Peugeot and its prominent passenger were blown to bits. Roshan — who was also deputy director for commercial affairs at Iran’s Natanz nuclear reactor — had just become the latest victim of an apparent covert campaign of assassination targeting high-profile Iranian scientists allegedly involved in the Islamic republic’s controversial nuclear program.
With turmoil in the Middle East and North Africa continuing to spread in the wake of the departure of Egypt’s longtime dictator and U.S. stooge Hosni Mubarak, it is difficult to predict the short-term, let alone the long-term, future for that profoundly troubled region. Inspired by the relative ease and nonviolence with which determined resistance managed to unseat long-entrenched dictatorships, first in Tunisia and then in Egypt, people elsewhere in the Arab world are finding the struggle for self-emancipation much tougher slogging.
Faced with widespread criticism of his once-vaunted “9-9-9” tax scheme, former pizza maker Herman Cain has changed a few ingredients. 9-9-9, readers will recall, was an attempt to simplify America’s Byzantine tax system by replacing the current system of graduated income and corporate taxes with three flat taxes, all assessed at 9 percent: a personal income tax, a corporate income tax, and a national sales tax. Social Security and Medicare taxes would be eliminated, and a bewildering array of deductions and schedules would be abolished. Today’s misnamed “progressive” tax system would be replaced by a simple, straightforward levy that would allegedly reduce both the time and expense of paying taxes for both individuals and corporations. Such a system — especially in comparison with rival Rick Perry’s newly-announced 20 percent flat tax, might seem like a beleaguered taxpaying public’s deliverance.
No extended society has ever existed without some form of law enforcement. However, it is important to understand that there are two very different approaches to maintaining public order.
After spending hundreds of billions to bail them out, the federal government is now turning on the big banks it once protected. Earlier this month, the Federal Housing Finance Agency launched a broad legal assault on 17 major banks, claiming the banks misled Fannie Mae and Freddie Mac in misrepresenting the quality of mortgage-backed securities. The FHFA�s lawsuit is a new attempt on the part of the federal government to recoup from big banks some of the taxpayer money lost during the financial crisis. Banks named in the action include Bank of America, J.P. Morgan Chase, Goldman Sachs, Morgan Stanley, Citigroup, and Deutsche Bank.