Officials Behind $500 Million Vikings’ Stadium Subsidy Get Free Luxury Box Tickets for Family and Friends

No…

The only NFL game I’ve ever been to was when I was fresh out of college and working on The Hill. And I saw it from a one of those box seats suites. The only things I really remember are that I think the Patriots were playing the Redskins, that the fried chicken was the best I’d ever had, and that in the suite it didn’t feel like I was at the game. It was like I was in a hotel bar or something.

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What is the “Broken Window Fallacy” and why is it important to understand?

Some people just can’t see that earthquakes, hurricanes, and (I’m not joking) alien invasions (“broken windows”) just aren’t good for the economy. This is true even if people are paid to rebuild cities or paid to wage anti-Martian warfare. It’s not complicated. But some very intelligent people can not grasp this basic concept. Some still embrace the thoroughly debunked concept of the “multiplier effect” in the economy. There is no multiplier. There is redistribution. Wealth comes from innovation and ingenuity and creation and risk taking.

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The potential ‘economic catastrophe’ that no one is talking about

David Stockman and the co-Founder of ACC Hunter Lewis have both long talked about this thing that CNBC says “no one” is talking about.

Our debt has ballooned under Obama but we’ve been able to service this debt at ultra-low rates. However rates don’t stay low forever, even and perhaps especially when it feels like they will. When rates move up just a bit the cost of servicing our debt is going to increase big time. That will put significant pressure on the economy.

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Doug Casey: The Greater Depression is going to be worse than even I thought it would be.

The Crash of 2008 didn’t just go away (as too many of us know). It still hangs over the globe. But things have changed. We now have more debt on the books and an even more emboldened political class.

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Central Banks May Choose Helicopter Money Over Negative Rates

Here comes the Fed…Hooray.

The definition of “helicopter money” appears to be shifting a bit. Generally it means pouring currency (printed by a central bank) into the economic system by directly depositing it into accounts. What type of accounts appears to be an open question. Whatever the Fed chooses (assuming that it does) it is a bad idea however.

How about we let rates adjust to where they should be naturally? How about we let things clear. How about we get real now,

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Charles Hugh-Smith – Why Real Reform Is Impossible: We Can’t Believe the Mighty Titanic Could Actually Sink

This one isn’t an uplifter but it is a sober assessment which deserves attention. Sobriety is a valuable thing, especially when dodging icebergs.

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Bernanke’s Japan Visit Unveils “Helicopter Money”, Sparks Monster Rally

Loaded up and on the way.

“Dolla dolla bill ya’ll…”

Or is it yen yen ya’ll?

No matter, the helicopters are in the air over Tokyo and currency is about to fall from the sky.

Watch military spending in Japan ramp up. This ought to work. We promise. This time. It’s gonna happen.

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Don’t bail out politicians, jail them without bail

It’s your money not the government’s.

Don’t let the politicians and government apparatchiks off the hook. They spent too much for decades and all across the country politicians are calling out for more. Look to Puerto Rico, Detroit, soon Illinois, California, maybe Connecticut. Save us!

Don’t let the politicians bail themselves out. Hold them accountable.

And remember, bailouts for local and state governments are also bailouts for Wall Street which holds the bonds.

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(Just don’t call it a bailout) House passes Puerto Rico rescue

How great of the House. Thanks for setting a precedent for states like Illinois, and California which will soon see shortfalls due to overly generous government worker pensions and will soon also be begging Washington to save their overspending posteriors. By which we mean Cali and Illinois will be begging Washington to force US taxpayers to save them. I mean if lowly Puerto Rico can get a “rescue” surely mighty California can get one.

You bet.

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Keynes Must Die

Indeed he must. As Hunter Lewis the co-founder of Against Crony Capitalism has said, Keynesianism is the mother of crony capitalism as we know it. Keynesian economic theory gives intellectual cover to politicians and social theoreticians who want to spend the money of a society anyway. It is an excuse. It is a cult. It is destructive and it is obviously, especially as we see at this late date, as the world slowly succumbs to its ever growing debt burden,

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Bank Of Japan Said To Start Preparing For Losses On Its “Huge” Debt Holdings Once QE Ends

Remember when Japan was going to rule the world? And no I’m not talking about WWII, I’m talking about the late 80s. The Japanese were buying up everything. The world was turning Japanese. Ahem.

That was a long time ago now. Indeed many of our readers don’t remember the 80s Japanese surge because they weren’t even born. Since those heady days Japan has stagnated. It may be looking at significantly worse than stagnation soon. The Land of the Rising Sun,

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Spain’s debt now worth more than value of the economy

This is the slow but steady decline of Europe over the last decade. Spain has felt much of the brunt. Not long ago the country was knocking on first tier European status. No longer. But at least Spaniards can find some (cold) comfort in the fact that “Europe” doesn’t end at the Pyrenees as the French used to say anymore. Now it ends, it seems, at the Belgian border.

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