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Tag Archives: economics

More Taxes and Tuition Buy Time for the Pension Bubble

By Ed Ring, executive director, California Policy Center

 

“The ‘recovery’ is largely an illusion created by the effects of zero percent interest rates, quantitative easing, and deficit spending. The asset bubbles that have been created as a result of these policies have primarily benefited the owners of stocks, bonds, and real estate (the rich), while simultaneously deterring the savings and capital investment that is needed to actually create good paying jobs and increased purchasing power.”

-  Peter Schiff, EuroPacific Weekly, November 6, 2014

The question everyone should be asking, especially the managers of public employee pension funds, is how much longer our economy can run on zero percent (adj. for inflation) interest rates, quantitative easing, and deficit spending.

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Chuck Schumer again: ‘Public Knows in Its Gut’ That Big Govt is ‘Only Way’ to Help Them (Video)


Yeah that’s what I want. Please tax me more. Please make it harder for me to start a business. Please make it even harder for me to hire someone. Please mess up the healthcare system even more. Please keep me from doing what I want with my land. Please keep giving taxpayer backed loans to giant corporations. Please keep taking money directly from my pocket so that GE, GM, and other companies can have just that much more. Please get us involved in another 13 year long war. Please keep spying on my phone calls, emails, and web browsing without a warrant. Please keep wait listing vets so that they die quietly without care. Please keep paying paper pushers at the FDA $120,000/year in total compensation. Please keep wasting money on weapons systems even the Pentagon doesn’t want. Please keep telling me what I can eat or smoke. Please keep trying to restrict my constitutional right to speech and to bear arms. Please keep indoctrinating our children at school. Please keep paying government employee union members pensions which sometimes are 6 figures for life. Please take another few trillion taxpayer dollars and give it to Wall Street. Please, dear Lord please, let government come into every nook and cranny of my private life. Please, please, please, because in “my gut” I know big government is the only way I can be “helped.”

I feel like big government is up in my gut alright, but it isn’t because I want it there.

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GOP megadonor Sheldon Adelson (and casino tycoon) faces conservative rebellion over online gambling (his opposition to it)

Adelson has a giant checkbook. He has done very well over the years as the head of Las Vegas Sands. That is why nearly every GOP presidential hopeful (except Rand Paul) went to Las Vegas earlier this year to see if they could wrangle some of the magnate’s largess. Kiss the ring and then perhaps political funding will be showered upon you. A jackpot of sorts. Adelsohn is in the business of “jackpots.”

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Bill Black: Why and how Holder let all the big bank CEOs off the hook (Video)

“Responsibility remains so diffuse, and top executives so insulated that any misconduct could again be considered more a symptom of the institution’s culture than a result of the willful actions of any single individual.” -Eric Holder on why he “could not” prosecute anyone in the top echelons of the big banks. What a guy.

Bill Black is no ideologue. He is someone who is committed as far as I can tell to legitimate justice in massive system of financial fraud we know today as “banking.” No doubt he and I would disagree about the size and power of government generally and probably about the fundamental nature of money itself. However, he helped prosecute the case against bankers during the S&L crisis and he is extremely knowledgeable, not to say was also effective.

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Japan Is Dying And We Still Don’t Get It?!

Japan, you gave us karate, Godzilla, walkmans (remember those?), sushi, Hello Kitty, and cars which didn’t fall apart. Though we fought you bitterly in World War II America came to love you more than any other country in the world with the exception of the United Kingdom (and maybe Australia, Canada doesn’t count). We hate to see you in your current straits. One, because we have a general affinity for the Land of the Rising Sun. But two, because we are riding the same bullet train here in the States, just a little further down the track.

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