Economics

Americans Aged 18-29 Have A More Favorable Response To Socialism Than To Capitalism

"In the prior post, we showed a presentation that looked at America from the perspective of a corporation and how it would be completely unsustainable. Luckily, there is little probability that America will ever have anything to do with S-Corp status, and far more likely end up as an agrarian Kolhoz. The reason: based on a Pew survey of America's youth, or those aged 18-29, more have a positive view response toward Socialism than they do toward Capitalism. We will leave it at that. Socialism: 49% Positive / 43% Negative. And Capitalism: 46% Positive / 47% Negative." Continue reading →

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3rd ex-Jackson officer pleads guilty in bribery case

"The last of three former Jackson police officers charged in a bribery case has pleaded guilty. The three men were indicted on charges of accepting bribes to protect drug shipments. It turned out the men they thought were drug dealers were really FBI agents. Anthony Ricardo Payne changed his plea to guilty on Wednesday in U.S. District Court in Jackson, one week before his trial was to begin. Two other former officers, Monyette Quintel Jefferson and Terence Dale Jenkins, pleaded guilty Oct. 17. Their sentencing is Jan. 7, however, it may be pushed to Feb. 28, to coincide with Payne's sentencing hearing. " Continue reading →

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Marc Faber: Prepare for a Massive Market Meltdown

"Faber told CNBC that central bank stimulus was useless and the implosion of markets was the only way to restructure the financial system. 'I think the whole global financial system will have to be reset and it won’t be reset by central bankers but by imploding markets — either the currency [markets, debt market or stock markets,' he said. 'It will happen — it will happen one day and then we’ll be lucky if we still have 50 percent of the asset values that we have today.'" Continue reading →

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Chinese demand for robots increases as labor costs rise

"China’s growing affluence and family planning laws have had dramatic effects on its workforce. Improved medical care has enabled older generations to live longer, and the one-child policy has effectively capped the younger generation’s size. In 2000 there were six working-age citizens for each Chinese person aged 60 and up; 20 years from now, population experts predict, there will be only two. Young Chinese have no choice but to seek skilled, high-paying work to support their parents. They’re better educated than their forebears, and less interested in menial assembly-line labour. Robots may fill the jobs they’ve left behind." Continue reading →

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Latin American leaders urge review of U.S. pro-marijuana referenda

"The leaders of Mexico and three Central American nations called Monday for a review of anti-drug policies after two US states voted to legalize marijuana. The presidents of Mexico, Honduras, Costa Rica and Belize called on the United Nations to hold a special session by 2015 to examine the 'successes and limits' of current strategies against drug trafficking. In a joint declaration read by Mexican President Felipe Calderon, the leaders asked the Organization of American States (OAS) to draft a report on the impact of last week’s referenda in the US states of Colorado and Washington." Continue reading →

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Illinois Debt Takes Toll On Services, Study Finds

"For years, Illinois has racked up billions in public debt to plug budget holes, pay overdue bills, and put money into its mismanaged pension funds. And for the people who live there, this has resulted in decrepit commuter trains and buses, thousands of unsound bridges, 200 hazardous dams and one of the most inequitable public school systems in America. Illinois has the lowest credit rating of the 50 states and has America’s second-biggest public debt per capita, $9,624, including state and local borrowing. Only New York State’s debt is bigger, at $13,840 per capita." Continue reading →

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Did the Election Save ObamaCare?

"The morning after Tuesday’s vote, there is one thing every commentator agreed on. The election of Barack Obama guaranteed that his signature piece of legislation—health reform—can now go forward. Republicans are powerless to stop it. Yet there is something all these commentators are overlooking. There are six major flaws in ObamaCare. They are so serious that the Democrats are going to have to perform major surgery on the legislation in the next few years, even if all the Republicans do is stand by and twiddle their thumbs. Here is a brief overview." Continue reading →

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The “Essential” Role of Tax Havens

"So-called tax havens are necessary to restrain the compulsive tendency of 'onshore' politicians to over-tax and over-spend. For all intents and purposes, the existence of tax havens makes tax competition more robust. And we need vigorous tax competition because politicians – without some sort of external constraint – will drive their nations into Greek-style fiscal chaos. The real outrage in this issue is that American taxpayers are subsidizing the international bureaucracy [the OECD] that is trying to kill tax competition. So if Republicans on Capitol Hill are looking for some much-needed budget cuts, that’s a good place to start." Continue reading →

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Egypt police bust baby trafficking ring

"Egyptian police said on Sunday they had broken up a child trafficking ring that sold almost 300 babies for 570 dollars each or less. [..] The official said the network also performed caesarian operations on women who had left it too late for an abortion of an unwanted child in exchange for allowing the doctors to sell the babies, usually to couples who could not have their own children. Adoption is illegal in Egypt, which adheres to Islamic law in some family matters. Some couples have sought to bypass the ban; in 2009, an American couple received a two year jail sentence after a court convicted them of buying a child from an orphanage." Continue reading →

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Lines … Lines … Everywhere There’s Lines

"What's a common thread that runs through everything that government touches? Lines...and lots of waiting. Go to a DMV...you're waiting. Go to a Post Office...you're waiting. Social Security Office?...Dreadful wait. Ever have to go to court?...You're better off settling. TSA?....Your wait is rewarded with a shot of radiation and a genital grab. Drive on a 'public road'?...You get to wait at the unnecessary lights and stand in unnecessary traffic jams. Feel like renovating 'your' house? Wait for a 'permit'. You'd think....YOU'D THINK..that maybe this doofus institution could get counting down without any problems or waiting. Well you'd be wrong." Continue reading →

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