I was just at a conference in Downtown Manhattan and things are good there. My hotel (which thankfully I didn’t have to pay for) was modest but cost a sum far beyond what one might pay for a comparable room in another large city in the US. A beer pushed 11 bucks. Everything was more expensive because the money printed by the Fed practically spilled out onto the street around the part of town I was staying in.
The further one gets from the Federal Reserve spigot however, the more austere the world gets. Remember, each dollar printed by the Fed reaches the guys in New York and DC first – while prices are relatively cheap. By the time these debauched dollars reach the rest of the country prices are rising and the dollar buys less.
When Ron Paul called for ending the Fed, this is one of the chief reasons why.
I don’t know much about Pope Francis. Some of what I do know I disagree with. But boy is this guy a breath of fresh air from Ratzinger. And he appears to be a man of authenticity and value. I of course have no real idea, but this article offers some insight into the man and it appears that he is taking on some of the most entrenched cronyism there is at the Vatican.
The only people who have seen their real incomes increase under this president have been the top 5% of earners. Those with large investment portfolios have seen their assets grow – or perhaps more accurately, have watched them inflate – while most of America has seen its income reduced over the last 5 years. Adjusted for inflation the average household in America makes less than 2008. Quite a bit less.
The part time preparer is an important person in many (often less wealthy) communities. A trusted aunt or uncle, or perhaps the lady a couple of blocks down the road “who does taxes,” a pastor, the “non-professional” tax preparers help a large segment of the US population remain tax compliant. But for the past 2 years the IRS has been trying to eliminate these folks with licensing rules. Rules which just happen to benefit the big tax preparation companies.
My bet is that within 15 years the American car manufacturers will mess things up again, but for right now they are bailout plump. The city which grew up around the big 3 is in a nearly post-apocalyptic state however. Miles and miles and miles of rust spread out from the city center where GM and Chrysler executives look down from their offices.
That is when they aren’t touring the new manufacturing facilities in China.
In an earlier post we mentioned how Washington DC has thrown in with Wall Street. And why not? That’s where the money is, where it continues to flow, and through our current system of crony capitalism will continue to flow until people say “enough.”
This is a very interesting post.
I have little faith in either the Dems or the GOP. Both parties engage in rampant crony capitalism as the article points out. Republican leadership in Washington DC has little interest in free markets and free market “populism.” But there is a glimmer of hope from some in the GOP New Wave, or as the Christian Post calls them the “new populists.”
That is, he proposes measures sure to make even more people poor.