Monthly Archives: March 2013

Whence the Housing Bubble?

"The chart below shows the ratio of the average existing home sales price to average household income. The long term average (LTA) of this ratio has been slightly above 3.0. At the beginning of 2001, however, it began to rise rapidly, reaching a peak 33 percent higher than the LTA during 2005, and then declining precipitously back to its LTA during 2008. Peshut’s chart also shows that, as of the beginning of 2012, Fed monetary policy had been unable to restart a bubble in the housing market unlike it had done in financial asset, farmland, and commodities markets. In fact housing prices were still falling both absolutely and in relation to household income." Continue reading →

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Challenge for Keynesian Anti-Sequester Hysterics

"Here’s some data from the International Monetary Fund showing that the Canadian economy enjoyed very strong growth when policymakers imposed a near-freeze on government outlays between 1992 and 1997. By the way, we also have a more recent example of successful budget reductions. Estonia and the other Baltic nations ignored Keynesian snake-oil when the financial crisis hit and instead imposed genuine spending cuts. The result? Growth has recovered and these nations are doing much better than the European countries that decided that big tax hikes and/or Keynesian spending binges were the right approach." Continue reading →

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Penny Pritzker as Commerce Secretary?

"Rhamaland-based billionaire Penny Pritzker, who was the first to back President Obama's initial run for the presidency, has emerged as the leading candidate to become the next commerce secretary. Pritzker, heir to the Hyatt Hotels fortune, is the 263rd richest person in the U.S., estimated net worth of US $1.7 billion. Pritzker has contributed to the presidential campaigns and exploratory committees of George W. Bush, Joe Lieberman, Bill Bradley, Rudy Giuliani, John McCain (2000), Al Gore, John Kerry and Hillary Clinton. Pritzker was chairman of a Chicago-area bank that collapsed because of the aggressive subprime home mortgages it made before the crash." Continue reading →

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Thomas Sowell Exposes Dishonest Budgetary Scare Tactics, Cartoonists Mock Obama’s Hysteria

"Back in my teaching days, many years ago, one of the things I liked to ask the class to consider was this: Imagine a government agency with only two tasks: (1) building statues of Benedict Arnold and (2) providing life-saving medications to children. If this agency’s budget were cut, what would it do? The answer, of course, is that it would cut back on the medications for children. Why? Because that would be what was most likely to get the budget cuts restored." Continue reading →

Continue ReadingThomas Sowell Exposes Dishonest Budgetary Scare Tactics, Cartoonists Mock Obama’s Hysteria

United Nations report: ‘Designer drug’ use, abuse and production surging

"Designer drugs are multiplying at a worrying rate and increasingly sending users to hospital, a UN-affiliated report said Tuesday, calling for international efforts to stem the spread of these substances. Aggravating the problem further was the fact that these drugs were not subject to international control regimes and were readily available on the Internet, requiring states and international institutions to find new ways to identify the drugs and stop their distribution. Another problem was the rise in prescription drug abuse, including painkillers, sedatives and others used to treat epilepsy, attention-deficit hyperactivity disorder and mental illnesses." Continue reading →

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United Nations says changing U.S. marijuana laws violate international drug conventions

"Cannabis decriminalisation measures across the United States, including the medical use of marijuana in California, have been sharply criticised by the United Nations, which has warned Washington they violate the international drug conventions. The International Narcotics Control Board (INCB), which polices the drug treaties, has also warned about the growing public health threat from the 'unprecedented surge' in 'legal highs' and called for concerted global action to curb the growing trade." Continue reading →

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Behind the Scenes With The Trans-National Elite

"In the hallowed halls of the transnational elite, falling down drunkenness is viewed as just another day at the office. United Nations unelected senior level employees living off the labor of others are routinely voting thumbs up or down on another bloody 'humanitarian intervention' whilst incapable of exercising even basic motor skills. One wonders the state of the unelected rulers of the universe when matters such as the destruction of Libya are being put up for a vote. No wonder the United Nations was not able to see through the blatant lies of the NGOs advocating for a NATO-led invasion of Libya: they could not see beyond their own booze-filled snouts." Continue reading →

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How to buy EU citizenship

"The touts were easy to spot, having practically set up stall outside government ministries and the Romanian consulate. They wore pouches around the waist and carried business cards in their hands. At the gates of official buildings they huddled together, drinking coffee or speaking intently into mobile phones. For €700, all the essential citizenship documents could be arranged within 15 months. Payment of €1,000 guaranteed the documents within 10 months. Meanwhile in Chisinau, several Moldovans said they had used their new nationality to take jobs in the EU. All said they had migrated in order to support families struggling in dire poverty." Continue reading →

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FATCA, Place of Birth in Passports & Second Class Citizenship

"Place of birth was first added to the U.S. passport designed in 1917. An October 4, 1963 staff study by the Passport Office on 'Place of Birth' information in the United States Passport reflects 'the passport used during World War I was the first in which including the place of birth of the passport holder was mandatory as part of the identification of the bearer, probably was a wartime travel control measure. The item was included in all subsequent revisions of the passport format, down to and including the present issuances.'" Continue reading →

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Jeff Thomas Responds: Questions on Gold Ownership

"Any US import greater than $2500 thru FedEx is newly subject to a Customs regulation requiring a SS #. This requirement was put in place Jan 7th or 8th of this new and wonderful year. The FedEx customs representative/agent was embarrassed to call the 'importer' with this request, by their newfound responsibility." Continue reading →

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