When people compete for grants, subsidies, and other government handouts, economists see a phenomenon called rent seeking. The “rent” is the money being offered. When government gives money away, the people who compete for it incur costs—sometimes more money will be spent in total trying to compete for a grant than the amount of money being given away. These costs are rarely considered in policymaking, but perhaps they should be. [...]
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Department Of Homeland Security has been gearing up for riots for some time Steve Watson In spite of a slew of racially charged threats circulating across the internet, police officials say they do not expect any rioting to occur on the night of the election, no matter what the result. “We’re not anticipating civil unrest on Election Night,” a spokesman for the Detroit police department told The Hill. “We’re going to collect the [...] Daily Show host Jon Stewart mocked Fox News on Wednesday night, describing their coverage of a secret video of Mitt Romney as “chaos on bullshit mountain.” In the video, Romney says he will not bother trying to convince the 47 percent of government-dependent “victims” who pay no income taxes to vote for him. “Lets drill down to the core of this thing,” Stewart said, playing a clip of Fox News host Sean Hannity decrying [...] By Wayne Allyn Root
Everywhere from FoxNews.com to CNBC.com, I suddenly see commentators warning of pending doom, economic collapse, and a new Great Depression. Welcome to my club. Perhaps America’s politicians and economists should have paid attention to an entrepreneur and small businessman that has been warning of economic collapse and a new Great Depression publicly for over two years. More importantly, none of the current commentaries mention the “why’s” of this slow motion economic collapse…beyond the [...] By Thomas Sowell Translating the Left’s rhetoric, and other random thoughts How long do politicians have to keep on promising heaven and delivering hell before people catch on and stop getting swept away by rhetoric? Why should being in a professional sport exempt anyone from prosecution for advocating deliberate violence? Recent revelations of such advocacy of violence by an NFL coach should lead to his banishment for life by the NFL, and criminal [...] London, England [Editor's note: Professional money manager Tim Price is filling in for Simon today from London. His thoughts below on gold, bonds, and the false pretext of investing in equities is delightfully insightful.] “No government has ever commanded the resources at the disposal of our ungodly Leviathan, which consumes about 25% of the product of the world’s richest country. It is driven by a voracious alliance of government’s own employees, and [...] By Washington’s Blog The Economy Is Stuck In a Depression … For Most Americans The mainstream economy is stuck in depression. See this, this and this. More accurately, there are two economies: In one economy, the top .1% are being made richer and richer due to access to government handouts, fraud and bad government policies In the other economy, everyone else is getting poorer Alan Greenspan agrees: “Our problem basically is that we have a [...] From WSJ: Millionaires are now legally entitled to collect food stamps as long as they have little or no monthly income. Thirty-five states have abolished asset tests for most food-stamp recipients. These and similar “paperwork reduction” reforms advocated by the United States Department of Agriculture (USDA) are turning the food-stamp program into a magnet for abuses and absurdities. The Obama administration is far more enthusiastic about boosting [...] U.S. households are now getting more in cash handouts from the government than they are paying in taxes for the first time since the Great Depression. Households received $2.3 trillion in some kind of government support in 2010. That includes expanded unemployment benefits, as well as payments for Social Security, Medicare, Medicaid, and stimulus spending, among other things. But that’s more than the $2.2 trillion households paid in taxes, [...] |
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WHY WE ARE ON THE BRINK OF THE GREATEST DEPRESSION OF ALL TIME
By Wayne Allyn Root, FoxNews.com
Everywhere from FoxNews.com to CNBC.com, I suddenly see commentators warning of pending doom, economic collapse, and a new Great Depression. Welcome to my club. Perhaps America’s politicians and economists should have paid attention to an entrepreneur and small businessman that has been warning of economic collapse and a new Great Depression publicly for over two years.
More importantly, none of the current commentaries mention the “why’s” of this slow motion economic collapse…beyond the [...]