Alternative News

IRS office under scrutiny for targeting tea party groups also disclosed confidential info

"The same IRS office that deliberately targeted conservative groups applying for tax-exempt status in the run-up to the 2012 election released nine pending confidential applications of conservative groups to ProPublica late last year. In response to a request for the applications for 67 different nonprofits last November, the Cincinnati office of the IRS sent ProPublica applications or documentation for 31 groups. Nine of those applications had not yet been approved - meaning they were not supposed to be made public." Continue reading →

Continue ReadingIRS office under scrutiny for targeting tea party groups also disclosed confidential info

Let’s Thank President Obama for Reminding Americans that They Should Distrust the IRS

"Last week, while writing about the latest IRS scandal, I noted that the IRS has a long record of abusive actions. It has thieving employees. It has incompetent employees. It has thuggish employees. It has brainless employees. And it has victimizing employees. So I wasn’t surprised to learn that it also has politically biased employees. But some Americans probably are shocked. Why am I thanking Obama? For the simple reason that this scandal means that more Americans now understand that the IRS is a venal agency." Continue reading →

Continue ReadingLet’s Thank President Obama for Reminding Americans that They Should Distrust the IRS

Youth Without Hope: 60% Unemployment

"Greece has a 60% unemployment rate for people in the 18-25 age bracket. Think of this. This is a generation that is unlikely ever to save their career plans out of the recession that has overtaken Greece and is getting worse. It will mar them for the rest of their lives. The experts said this was impossible in 2007. The bankers in northern Europe believed the hype. They lent money to Greece’s government and businesses. Now they need bailouts from the European Union — the government — and the central bank, and the IMF. They care nothing about Greece. They just want someone to pay interest on their loans. They are getting what they ask for. Greece isn’t." Continue reading →

Continue ReadingYouth Without Hope: 60% Unemployment

Only Half Of College Grads Work Jobs That Require A Degree

"A college degree might not be worth the hassle and expense, according to a new study. Almost half of four-year college graduates are working jobs that don’t require a bachelor's degree, according to a study by McKinsey & Co. that asked 4,900 graduates about their careers after college. Furthermore, around a third of college graduates said they did not feel that college had fully prepared them for the working world. Over half said they’d choose a different school or a different major if they could do it again." Continue reading →

Continue ReadingOnly Half Of College Grads Work Jobs That Require A Degree

Calculating the ROI of a 4-Year College Degree

"People tend to assume that getting a college education is a good financial investment. But a new Brookings report 'Should Everyone go to College?' finds that the actual value of a 4-year bachelor’s degree can vary dramatically depending on factors such as field of study, type of college, graduation rate, and future occupation. The more selective the school, the higher the return on investment (ROI) as calculated by Payscale. The bad schools are pretty bad, as Payscale found that 1 in 5 have a negative ROI over 30 years. The lifetime earnings of a graduate also varies widely with the type of major and subsequent occupation." Continue reading →

Continue ReadingCalculating the ROI of a 4-Year College Degree

CEO of World’s Biggest Bond Fund: Government Has Rigged the Game Against Investors

"Investors are being haircutted by at least 200 basis points judged by historical standards, which in the past offered no QE and priced Fed Funds close to the level of inflation. Large holders of U.S. government bonds, including China and Japan, will be repaid, but in the interim they will be implicitly defaulted on or haircutted via negative real interest rates. . . . Future haircuts might even include a wealth tax. Are gold and/or AA+ sovereign bonds good as money? Usually, but capital controls can clip you if you’re not careful." Continue reading →

Continue ReadingCEO of World’s Biggest Bond Fund: Government Has Rigged the Game Against Investors

India Trade Deficit Deteriorates As Gold Imports Soar 138%

"India's economic boogeyman, the monthly trade deficit, continues to rear its ugly head, this and every time, driven be the country's insatiable desire for gold which is so powerful, the country took full advantage of the plunge in gold prices, and saw business imports of gold soar by 138% y/y in April, forcing the trade deficit to hit a 3 month high of $17.8 billion as more fiat left the country in return for bringing in more of the 'barbarous relic.' Gold imports more than doubled on both a Y/Y and sequential basis, with gold accounting for $7.5 billion, or 18% of total imports, compared to $3.1 billion in March." Continue reading →

Continue ReadingIndia Trade Deficit Deteriorates As Gold Imports Soar 138%

Editorial-Page Fiction at the New York Times

"They want us to believe that 'slashed' budgets and inadequate spending have caused 'worse health outcomes' in nations such as Greece, Italy, and Spain, particularly when compared to Germany, Iceland, and Spain. But if government spending is the key to good health, how do they explain away this OECD data, which shows that government is actually bigger in the three supposed 'austerity' nations than it is in the three so-called 'stimulus' countries." Continue reading →

Continue ReadingEditorial-Page Fiction at the New York Times

Devastating News for ObamaCare Backers

"A new study finds that (as far as physical health is concerned) there is no difference between being in Medicaid and being uninsured. It’s hard to exaggerate what a blow this is to the people who gave us the Affordable Care Act (ObamaCare). Everything about ObamaCare—from the money we are spending to the damage being done to the labor market to the hassles the whole nation is going through—depends on one central idea: that enrolling people in Medicaid will give them access to better health." Continue reading →

Continue ReadingDevastating News for ObamaCare Backers

Ohio Appeals Court Forbids Traffic Stop Over Unpaid Parking Tickets

"Since April last year, Dayton, Ohio has been trying to generate millions in additional revenue by towing vehicles said to have unpaid photo enforcement or parking tickets. The city's policy instructed police to pull over motorists and take their car away until the alleged debt was paid. To keep a steady stream of $85 citations, Redflex Traffic Systems of Australia operates ten red light cameras and ten speed cameras in Dayton. In a decision late last month, the state Court of Appeals said Chief Biehl and the city have been flouting the Constitution." Continue reading →

Continue ReadingOhio Appeals Court Forbids Traffic Stop Over Unpaid Parking Tickets