Housing Sales Down For A Reason. Not A Self-Fulfilling Prophecy
It is not a surprise that housing sales are way down. The housing bubble burst for a reason and sales are down for a reason. There is a lot of media nonsense about housing (and the economy as a whole) making a slow comeback. Sorry folks. Not going to happen. You simply cannot following the [...]
Federal Reserve Official Warns Against Long Term Low Interest Rates – Why He Is Right
Today, Kansas City Federal Reserve President, Thomas Hoenig warned against the Federal Reserve Banks maintaining extremely low (near 0%) interest rates. This is unusually sober advice from a Federal Reserve Bank official. Hoenig warns that it is a dangerous gamble to keep interest rates too low for too long. He is right. However, it might [...]
Barack Obama Boasts About Auto Bailouts Despite Clear Evidence of Failure
Today President Barack Obama took some time to boast about the auto bailouts. He praised them and claimed that the auto bailouts saved 1,000,000 jobs. Let me be clear, the auto bailouts are a giant failure and a terrible economic policy. The claim of one million saved jobs is dubious. You know the economy is [...]
Connecticut Needs To Support Peter Schiff for Senate
The people of Connecticut are fortunate and may not even know it. And that would be unfortunate. They have an unusually fantastic opportunity to elect an honest, respectable and quite brilliant person for the US senate. That person is Peter Schiff. With people rightfully complaining about the government more and more every day, they have [...]
It’s Okay to Like Money
A terrible mental sickness has developed in America over recent years. What is it? Dislike of money and it’s counterpart guilt about having money. One could go on at length about why this is such a terribly unhealthy attitude. Not only is it most the time just a form of foolish hypocrisy, it is completely [...]
President Obama Agrees With Nancy Pelosi: Extend Unemployment Benefits Again
President Obama has been given a choice. Should he make the tough decision to cap unemployment benefits or continue to take more money American’s paychecks to give to people who are producing nothing. This comes after Nancy Pelosi has said that unemployment benefits are the best way to stimulate the economy. It seems President Barack [...]
Voodoo & Bad Medicine From Paul Krugman
Here is a quote from Paul Krugman, Keynesian economist and contributor to the New York Times. Republicans are feeling good about the midterms — so good that they’ve started saying what they really think. This week the party’s Senate leadership stopped pretending that it cares about deficits, stating explicitly that while we can’t afford to [...]
Illegal Immigration: Symptoms vs Root Causes
Illegal immigration is a somewhat of a heated topic in America. I say somewhat because while it is true it is debated emotionally on the main stream media, it is much different outside of this environment. Generally speaking people who pay taxes agree that it makes little sense to allow millions of people to cross [...]
Road to Serfdom by F.A. Hayek – Brief Video & Illustrated Overview
Recently on the Glenn Beck show Tom Woods and Yuri Maltsev made an appearance. On that show they discussed The Road to Serfdom by F.A. Hayek ( Friedrich Hayek). This discussion spurred tremendous interest in The Road to Serfdom and sales of the book shot to the top of the Amazon.com top seller’s list. It [...]
Why Consumption Tax Is Better Than An Income Tax
Here a video with Peter Schiff outlining the multitude of reasons the income tax is wasteful, burdensome and just flat out economic folly. Oh yeah, the income tax also allows the government to get further into our personal lives and our earnings. It is really very simple. The income tax is bad for everybody but [...]