Archive for November, 2011

From Brazil, With Love....


Tuesday November 29th, 2011   •   Posted by Craig Eyermann at 7:12am PST   •   3 Comments

How dependent has the United States government under President Barack Obama become upon borrowing money from foreign sources to support its spending? Would you believe the answer is: “enough to exclude a long-time U.S. manufacturer from consideration for a defense contract in favor of a foreign-based manufacturer, despite the U.S. manufacturer having invested considerable...
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Federal Reserve Gave Big Banks Secret Loans of $7.77 Trillion


Monday November 28th, 2011   •   Posted by David Theroux at 9:34pm PST   •   2 Comments

Brent Budowsky of The Hill has called for Cong. Ron Paul to hold hearings before the subcommittee he chairs on the news of secret Federal Reserve bailouts of the the biggest banks. The news comes from an article by Bob Ivry, Bradley Keoun and Phil Kuntz at Bloomberg Markets Magazine that the Federal Reserve...
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Former Solyndra Employees Now to Receive Even More Federal Aid


Friday November 25th, 2011   •   Posted by David Theroux at 1:43pm PST   •   5 Comments

In “Ex-Solyndra Staff Eligible For TAA Federal Aid; Packages Worth Average $13,000 Each,” Sean Higgins at Investor’s Business Daily reports that after the Obama-acclaimed, model “green energy” firm scammed a half billion dollars from taxpayers through bankruptcy, the White House has now approved even more corporate welfare for those involved: The Labor Department today...
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Trim the Government Turkey


Wednesday November 23rd, 2011   •   Posted by Stephanie Freedman at 12:27pm PST   •   0 Comments

An article in The Wall Street Journal responded to the budget supercommittee’s inability to arrive at a decision. The article suggests the following: 1) Eliminate unnecessary federal programs The obvious place to begin is repealing ObamaCare and its expansion of spending. Programs like the federal Community Development Fund, which should fall under state and...
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Do Bailouts Help the Poor?


Monday November 21st, 2011   •   Posted by Emily Skarbek at 8:55am PST   •   2 Comments

Recently, I posted about Adam Smith’s fiscal principle: “What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.” In light of this rule, it is important to consider whether or not the state should bail out the heavily indebted poor. Considering hard cases such...
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5 Lessons from The European Financial Crisis


Thursday November 17th, 2011   •   Posted by Stephanie Freedman at 5:04pm PST   •   1 Comment

An extraordinary article published today in Forbes discusses what we can learn from the European financial crisis: 1. Higher taxes lead to higher spending, not lower deficits. Miss Morandotti looks at the evidence from Europe and shows that politicians almost always claim that higher taxes will be used to reduce red ink, but the inevitable result...
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Central Banking as the New Central Planning


Thursday November 17th, 2011   •   Posted by Emily Skarbek at 7:02am PST   •   0 Comments

Below is an excellent Bloomberg interview with James Rickards, senior managing director of Tangent Capital Partners and author of “Currency Wars: The Making of the Next Global Crisis.” He talks with James Grant, publisher of Grant’s Interest Rate Observer, on recent Federal Reserve monetary policy, the gold standard and the impact of Fed policy...
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The Wrath of Keynes


Wednesday November 16th, 2011   •   Posted by Emily Skarbek at 7:45am PST   •   4 Comments

James Buchanan and Richard Wagner begin their book Democracy in Deficit by explaining that prior to the absorption of Keynesian economics, the conventional wisdom of Adam Smith prevailed. Adam Smith had observed that: “What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.” This...
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Should Politicians Rely on Millionaires to Fund Government?


Wednesday November 16th, 2011   •   Posted by Craig Eyermann at 5:52am PST   •   2 Comments

Pretend for a moment that you’ve just been elected to public office and that you now have the power to choose whose income you’re going to tax to pay for all the vital government programs you believe should be supported. If you want to keep those vital government programs on a sound financial footing,...
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Happy Holidays from Washington


Friday November 11th, 2011   •   Posted by Stephanie Freedman at 10:33am PST   •   0 Comments

The government is leaving no stone unturned. A tax on Christmas trees was brought to the floor this week. Is nothing sacred? Christian Science Monitor reports: The so-called “Christmas Tree tax” had all the makings of a grand political theater. After the US Department of Agriculture (USDA) approved Tuesday a 15-cent tax on fresh Christmas...
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