Authored by MN Gordon via Acting-Man.com, Onward vs. Upward Something both unwanted and unexpected has tormented western economies in the 21st century.  Gross domestic product (GDP) has moderated onward while government debt has spiked upward.  Orthodox economists continue to be flummoxed by what has transpired.   What happened to the miracle? The Keynesian wet dream of an unfettered fiat debt money system has been realized, and debt has been duly expanded at every opportunity.  Although the fat lady has so far only cleared her throat (if quite audibly, in 2008) and hasn’t really sung yet, it is already clear that calling this system careening towardRead More →

Along with the student loan debt bubble and other major financial factors, the looming pensions crisis is bound to be the death of us all. Because it’s based on a future promise to pay, it has long been a benefit dangled to solve strikes and union disputes – because, in the end, it is just more debt, whether private or public. With tens of trillions in unfunded liabilities, the weight of an avalanche remains dangling over our heads. An aging population is cashing in on needed retirement benefits while the younger generations must support multiples that are unsustainable financially. Somewhere between the retiree that needsRead More →

Russia’s largest bank, Sberbank, has confirmed that it hired the consultancy of Tony Podesta, the elder brother of John Podesta who chaired Hillary Clinton’s presidential campaign, for lobbying its interests in the United States and proactively seeking the removal of various Obama-era sanctions, the press service of the Russian institution told TASS on Thursday. “The New York office of Sberbank CIB indeed hired Podesta Group. Engagement of external consultants is part of standard business practices for us,” Sberbank said. Podesta is one of the Democrat’s highest profile lobbyists who enjoys close personal and business connections to former Presidents Obama and Bill Clinton. John Podesta wasRead More →

The New York Teamsters Road Carriers Local 707 Pension Fund has won the unfortunate award for “First Pension to Officially Run Out of Money.”  According to the New York Daily News, and a host of angry former truck drivers who’ve had their pension benefits slashed, the Pension Benefit Guaranty Corp. (PBGC) has officially been forced to step in and take over payments to retirees of the Local 707, albeit at a much lower rate. Teamsters Local 707’s pension fund is the first to officially bottom out financially — which happened this month.   “I had a union job for 30 years,” Chmil said. “We hadRead More →

Humans beings appear to be hardwired to have a sense of fairness. This is puzzling from an evolutionary perspective, which you would have thought would mean we were predisposed to seek advantage for ourselves and our families wherever possible. But in fact a sense of fairness is important for humans to be able to help each other. Human cooperation is based on reciprocal altruism – we help people because they’ve either helped us in the past or they may help us in the future. This form of cooperation is only possible when individuals are able to keep track of other individuals’ efforts and payoffs –Read More →

Foreign and Defense Policy, Middle East, Terrorism Back in September, I testified before the House Financial Services Committee on the allegation that the Obama administration had paid Iran a ransom—at the time it was believed to be $400 million but it was later revealed that the figure was more than three times that amount—in cash for the release of American hostages held by Iran. At the hearing, it is now clear that State Department officials lied outright to the committee. But, lest there be any question about how the Iranian government perceived the payment received from the United States, Hossein Nejat, deputy Intelligence Director ofRead More →

Democrats Pick A Racist To Head DNC Perez Dropped Voter Intimidation Charges Against Black Panthers Who Brought Weapons to a Polling Place…Perez Doesn’t Think White People Are Protected Under the Voting Rights Act An investigation into the Civil Rights Division by the Department of Justice’s inspector general revealed extreme views held by Perez. He told investigators that white people were not entitled to protection under the Voting Rights Act. Perez revealed to investigators that he saw the Voting Rights Act as only providing protection to specific, historic minorities, not all citizens:Read More →

Submitted by Daniel Mitchell via The Foundation for Economic Education, Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts. Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency. And this means that, sooner or later, the proverbial wheels are going to fall off the bus. And it might be sooner. On Shaky Ground I don’t always agree with his policy recommendations, but I regularly read Desmond Lachman ofRead More →

  C.E. Dyer reports that Climate Central recently ran an article about “overwhelmingly hot” 2016 temperatures, which the Washington Post greedily lapped up to support their man-made climate change agenda. There’s one big hitch, however, and it lies in evidence that this so-called climate change data has been tampered with to fit the agenda. Take a look at this excerpt of a post from Climate Central: According to Climate Central: “Climate change has caused the U.S. average temperature to increase about 1.5° F since the 1880s.” The Deplorable Climate Science Blog broke down why this is incorrect: The first problem with their analysis is that theRead More →