Tag Archives: national debt
So you want to take on China, do you?
If there’s one thing that brings the two American political parties together, it’s a revulsion toward China. Both parties frequently lament the rise of China and the threat that they might displace the US as the world’s Supreme Economic Force. Frequently this rhetoric is aimed either at nothing more than riling up the electoral base, [...]
Posted in uncategorized Also tagged china, foreign policy, gold standard, public schooling, tariffs Leave a comment
debt = gdp
Though estimating the true value of both the national debt and the GDP (gross domestic product) is difficult, President Obama has come out and announced the coming of an event that we who watch economic history in the making have seen for some time. President Obama has endorsed a projection which estimates that this is [...]
gold price at 1371.57
New high. Due, of course, to our fraudulent system of state-backed fractional-reserve banking, and our outrageous debt/deficit problem. The dollar has lost 8% of its value against gold in the last month–bordering on hyperinflation. And so I’ve made a decision. Each time I see a new price for gold higher than anything I’ve ever seen [...]
Posted in economics Also tagged boom bust cycle, deficit, fractional reserve banking, gold, hyperinflation, keynes vs hayek rap anthem 5 Comments
take a power trip?
Riding my bike across campus today, I saw a booth where voter registration was offered. On the signs was a sign saying, in bright large letters, “Take a Power Trip! Vote!” Though the sign may initially look innocuous, it inadvertently speaks to one of the greatest problems with U.S. politics. Related Posts:Walk Like An Egyptian: [...]
Posted in culture, government, politics Also tagged democracy, dept of homeland security, dept of justice, manipulation, osu, politics, power trip, tax receipts, us federal budget, us federal government, voter registration, voting, wiktionary 1 Comment
why might a christian listen to beck?
Yes, I am what might variously be called conservative, libertarian, or classical liberal. But no, I don’t listen to Glenn Beck–I’ve found much more efficient ways of getting my hands on much more interesting and worthwhile news. Nevertheless, I thought I’d try to fashion a reply to Joel’s expression of puzzlement. “Why in the world [...]
Posted in website links Also tagged christians, classical liberalism, conservatism, f a hayek, glenn beck, joel watts, libertarianism, paul krugman, racism 9 Comments
The faces of interventionism: Paul Krugman and the ban on eggs by the dozen
[UPDATE below] Despite the fact that Obama has run up the greatest deficits in US history, running us into severe debt at about 1.4 trillion of debt per year and 2.9 trillion in new social security obligations per year, the senseless Nobel prize winner has decided that we’re headed into our country’s third depression because [...]
Posted in economics Also tagged 1873, currency policy, eggs by the dozen, european union, gold, grayson lilburne, inflation, mises institute, nobel prize, obama, paul krugman, social security, the deficit, the trade cycle, unfunded liabilities 1 Comment
Revising the national debt stats
Thanks to Bob Murphy, I’ve found the US Treasury’s account of the hidden social security deficit. It can be found in a pdf here, and I’ll be using figures from the last page. To begin to understand the idea of a social security deficit, we have to understand that Social Security is for practical purposes [...]
Posted in bloated government Also tagged social security, statistics, unfunded liabilities, unfunded social security outlays Leave a comment
greece admirably cleaning up its act
Story here. Greece, finally learning the difficult lessons of financial sanity, is beginning to take serious steps toward balance. First, they’re offering some 6,000 islands for sale or long-term lease. Considering that the islands are for the most part just sitting unused, that’s an excellent idea. Some millionaires will own some islands, while Greece is [...]
We keep bleeding money
It’s the opinion of this guy that our banking system cannot sustain its current path, and that the only way out is the US Federal Government defaulting on some of its obligations. The statistics show an utterly out-of-control debt and no sign of letting up on our incredible deficit spending. Our debt is currently at [...]
Posted in uncategorized Also tagged banking, currency policy, fannie mae, federal government, freddie mac, hyperinflation, stimulus 1 Comment
Keynes and Hayek, second round