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by WashingtonsBlog
We Could Offset the Need for the “Sequestration” Budget Cuts By Stopping Nuclear Subsidies
We’ve previously documented that even top nuclear executives admit that nuclear energy is expensive, and only survives due to massive government subsidies.
Time noted in 2008:
Lovins [a veteran energy expert and chairman of the Rocky Mountain Institute] notes that the U.S. nuclear industry has received $100 billion in government subsidiesover the past half-century, and that federal subsidies now worth up to $13 billion a plant — roughly [...]
by mybudget360
Many Americans look at the crisis in Greeceand shake their heads wondering how it is possible for an entire country to derail the future of its younger generation. One big problem in Greece was massive government liabilities funding very generous pensions. Yet this came at an enormous cost. The US is facing a different crisis but the markets have already responded over the last few decades. In the early 1980s, roughly [...]
The beleaguered government of Mariano Rajoy has been embarrassed by revelations that its party’s former treasurer had a bank account in Switzerland containing up to €22 million.
http://www.irishtimes.com/newspaper/world/….html
That is the first news. High-level corruption in a country with a 26% unemployment rate in the government party, in a country that is breaking apart, totally bankrupted.
But with today news(from a newspaper who is usually pro-government, right wing, but which usually makes very [...]
by Phoenix Capital Research
Is China an economic miracle, or one massive Government-sponsored fraud?
History has shown us countless times that centrally-?planned, command style economies do not produce long-term economic growth. We’ve seen this will the Soviet Union, the UK, the US-since the Tech Crash, and today in China.
I realize that many would argue China has adopted free market policies with its “free market zones.” However, even this terminology reveals China is [...]
President Obama said Thursday he wanted to “do the same thing with manufacturing jobs, not just in the auto industry, but in every industry,” in a Pueblo, Colo. campaign speech.
OBAMA: I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back and GM’s number one again. Now I want to do the same thing with manufacturing jobs, not [...]
From The New American:
When pressed for a “success story” of their policies, Keynesians point with pride to World War II. They claim that it is the perfect illustration of the ability of massive government spending to lift an economy out of the doldrums.
In the effort to battle this myth, Steve Horwitz and Michael J. McPhillips offer an interesting new article that analyzes diaries, newspapers, and other primary source documents from [...]
TV-PG
A team of scientists testifies that they found the remains of a sea creature with ties to human origins – a modern day mermaid. They claim a massive government cover-up is currenly hiding the creature’s existence from the general public.”
http://animal.discovery.com/tv-schedules/special.html?paid=15.15536.136511.0.0
Peter Spiegel of the FT has a must-read piece on the urgency of the current EU Summit, which includes this key insight…
Although Italy does not have Spain’s banks, Greece’s economy, or Ireland’s deficits, it is easy to forget how close to the edge Rome reached last summer under the erratic leadership of Silvio Berlusconi. It may not be an exaggeration to say that Mr Monti has about a month to ensure it does not [...]
WSJ
When the next crisis brings a major financial firm to its knees, U.S. regulators will seize the parent company but allow its units around the globe to keep operating while the mess is cleaned up, according to a planned announcement Thursday from the Federal Deposit Insurance Corp.
The equity stakeholders of the large bank or other financial firm will be wiped out, and bondholders will face losses as their holdings are [...]
If we’ve learned anything in the twelve years since New Year’s Day, 2000, it’s that buy-and-hold investors are practically begging to get their heads handed to them.
…
First, we have an unprecedented Government Debt Bubble: Washington has spent a record $16.3 trillion since 2007 … has added $6.5 trillion to the national debt … and is CONTINUING to run up trillion-dollar-plus deficits every year.
Second, we are witnessing the Greatest Monetary Bubble in [...]
When you see the Republican party point to Fannie and Freddie as the cause of all our housing
problems one should think deeply about why they boil a complex issue down to a simple talking point.
http://www.washingtonpost.com/reales…y.html?hpid=z3
By Mark Zandi, Published: January 24
There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made [...]
Jonathan Benson
Natural News
December 21, 2011
(NaturalNews) January 1, 2012, was supposed to be the day that the Energy Independence and Security Act (EISA), which was passed by Congress and signed into law by former President George W. Bush back in 2007, came into effect, banning certain high-watt incandescent light bulbs. But all such bulbs will remain on the market, at least for now, thanks to a “rider” that some members of [...]
Ya think??
NEW YORK – A new book released today documents how President Obama and progressive Democrats are deliberately overloading the U.S. financial system, using socialist designs to remake the economy.
“Red Army: The Radical Network that must be defeated to save America”by Aaron Klein and Brenda J. Elliott unearths the radical origins of Obama’s major economic legislation and policies, including the 2009 “stimulus” and health-care law.
The book, with nearly 1,500 endnotes, [...]
by ZH
Image: AP
Classic.
One quarter after going on an epic anti-Obama monologue at the end of his Q2 earnings call, Steve Wynn comes back with a sequel, confirming that when it comes to completely justified anti-presidential rants, he is truly second to none. Topics touched upon include massive government deficits, the business climate, the administration’s horrendous handling of the economy, and of course, Occupy Wall Street. His damning conclusion: “ I am watching my [...]
Jeff Cox, CNBC.com
“Little gremlins” have proposed a massive government-sponsored mortgage refinancing program for struggling homeowners that is doomed to fail, analyst Dick Bove said.
In a scathing note and subsequent CNBC appearance, the Rochdale Securities vice president of equity research said the Obama Administration’s plans will foist new costs on both taxpayers and the banking industry.
Under the plan, homeowners suffering under previously negotiated high rates will be [...]
During the Bush Presidency the US borrowed on average 1.6 billion per day.
During the Obama presidency the US borrows on average $4 billion per day.
President Obama does not care much about deficits — other than worrying that big debt might matter in his re-election campaign.
In his first three budgets, Obama borrowed nearly $5 trillion. Currently, the government is borrowing about 45% of everything it spends. Obama’s [...]
by TruthInSunshine
Confidence game. They’ve officially lost the game – it matters not what equity markets do or don’t do for some time (real markets reflective of economic activity tell the tale; equity markets are always late to reality).
There’s nothing sinister, or new, about it – in generic or historical terms. If consumers and businesses are not confident, they will not spend and hire.
There [...]
I am retired, living off investment income. I planned on buying safe, fixed income securities when I retired . As the fed lowered rates, and bond prices increased, I didn’t reinvest in bond. As C.D. and money market rates dropped to zero, I stayed in cash. As I watched the dollar devalue , I continued to hear, there is no inflation. [...]
TrimTabs: “If the money to boost stock prices by almost $9 trillion from the March 2009 lows did not come from the traditional players, it had to have come from somewhere else. We believe that place is the Fed. By funneling trillions of dollars in cash to the primary dealers in exchange for debt, the Fed has given Wall Street lots of firepower to ramp [...]
by fiftyfirststate
I’m not a “gold bug” but it’s now pretty obvious that the economic system is slowly breaking down worldwide as more and more fiat money floods in. Gold is becoming increasingly a safe haven.
I have posted this before but several years ago, a friend (very wealthy) who subscribes to a financial advisory service which has a very good track record for predictions, stated that gold would eventually reach [...]
College tuition costs shot up again this fall, and students and their families are leaning more on the federal government to make higher education more affordable in tough economic times, according to two reports issued Thursday.
At public four-year schools, many of them ravaged by state budget cuts, average in-state tuition and fees this fall rose 7.9 percent, or $555, to $7,605, according to the College Board’s “Trends in College Pricing.” [...]
Every bit of growth we’ve observed over the past year can be traced directly back to government deficit spending, with ZERO private sector expansion when those deficits are factored out. All the “good news” reported over the past year is due to massive government intervention within the market. Debt-fueled booms from the public sector all too often provide false affirmation of the government’s fiscal and monetary policies. The Federal Reserve [...]
By bailing out, backstopping, and propping up countless lousy institutions and assets during the private credit crisis … rather than allowing a quicker, more painful, but ultimately cleansing collapse … they turned a Wall Street debt crisis into a sovereign debt crisis.
They temporarily postponed the day of reckoning, while failing to solve the underlying problems.
They tried to paper over a private credit crisis brought on by too much bad debt [...]
That’s also why they haven’t been able to fix their problems (generate inflation) with 0% rates for a zillion years. You’d think someone would have noticed this ‘paradox’ previously, you know, at some point in the last two freakin’ decades.
It’s suffering from impoverishment. Their socialist state is eating the nation’s wealth slowly but surely. Instead of printing to monetize their debt problems they’ve been eating the people’s wealth via [...]
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