Middle Class Dismissed

Bill Bonner: Is this the end for the bull market in gold?

"Is this the end for the bull market in gold? Everybody says so. And this was before gold tumbled on Friday. The fact is, the masses never got anywhere near gold. Not even close. Most people have never seen a gold coin....and few are as reckless as the aforementioned Mr. Norstog. Most are even more reckless! They'll wait gold to hit $2,000...or $3,000 before they buy. Which is why we're nowhere close to the top. Wall Street never marketed gold, deftly...or any other way. Not even in its usual greedy, heavy handed fashion. And the masses never bought it. Just the opposite. As the price of gold rose we saw ads in the paper soliciting people to SELL gold." Continue reading →

Continue ReadingBill Bonner: Is this the end for the bull market in gold?

Puppies & Kittens & Censors…Oh my! Government Muzzles Internet Pet Veterinarian

"Can the government silence and shut down licensed professionals for giving advice online? Dr. Ron Hines is a highly regarded licensed veterinarian who's never had any complaints against him. Being a disabled and retired senior citizen, the Internet allows him to remain productive in his golden years. Yet he's been fined and shut down for giving advice on the Internet, often for free, to people around the planet who have no other access to veterinary care for their animals." Continue reading →

Continue ReadingPuppies & Kittens & Censors…Oh my! Government Muzzles Internet Pet Veterinarian

Obama Budget Contains Middle Class Income Tax Hike

"Chained CPI means the Obama budget contains a tax increase on 100 percent of middle class taxpayers (anyone who pays the federal income tax). Many other tax provisions—the standard deduction, the personal exemption, PEP and Pease, IRA and 401(k) contribution limits, and many others—are also tied to how CPI is measured. Chained CPI as a stand-alone measure (that is, not paired with tax relief of equal or greater size) is a tax increase and a Taxpayer Protection Pledge violation. Various reports peg the tax increase amount as exceeding $100 billion over the next decade." Continue reading →

Continue ReadingObama Budget Contains Middle Class Income Tax Hike

Obama Will Become First President to Spend $4 Trillion in One Year

"In the historical tables it released along with President Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016, under the president's budget proposal, it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year. The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was the deficit the government ran in fiscal 2008, the last fiscal year completed before Obama took office." Continue reading →

Continue ReadingObama Will Become First President to Spend $4 Trillion in One Year

Bill Bonner: $10,000 each in two suitcases

"Price controls didn't work for the Romans. They didn't work for the Germans. They didn't work for the Zimbabweans or any of the other hundreds of governments that have tried them. But who knows? Maybe they'll work for the Argentinians. But inflation is just getting started here. The rate is officially about 10%. Unofficially, it's 30%. Officially, you can trade a dollar for 5.4 pesos. Unofficially, you'd be a fool to do so. The black market rate is eight to the dollar – and more. So what do we do? Every time we come to Argentina we bring the maximum - $10,000 each – in $100 bills. Then, when we need to buy things, we trade our dollars on the black market." Continue reading →

Continue ReadingBill Bonner: $10,000 each in two suitcases

Jim Rogers: ‘I Suspect They’ll Take the Pension Plans Next; I’m Taking Preparations’

"I was able to reconnect for an interview with legendary Quantum Fund manager and commodities bull, Jim Rogers. This was an especially groundbreaking interview, as Jim shared thoughts on what governments around the world will be taking next, and what he’s doing right now to protect his personal bank accounts following the Cyprus collapse. With respect to which assets governments will likely be coming for next, Jim said, '401k plans, IRA’s, and pensions plans which the government knows about [may be next]…They’re rationale would be, ‘Well most people haven’t been doing well in their IRAs and pension plans for the past several years, so we’re going to help you.'" Continue reading →

Continue ReadingJim Rogers: ‘I Suspect They’ll Take the Pension Plans Next; I’m Taking Preparations’

Trouble on U.S. farms as growers seek workers and crops rot

"Here’s a mess with no easy fix: American crops going unpicked — it’s backbreaking work Americans won’t touch — and poor migrants in need of work shying from it for fear of being abused. Creating a program for temporary farm workers from Mexico and other countries to work the land, sow seeds or reap harvests is one of the touchiest aspects of the immigration reform that Congress is working on. Some 61 percent of growers in California report shortages of laborers, especially in labor intensive crops like grapes and vegetables, said Rayne Pegg of the California Farm Bureau Federation. So some crops are left to rot." Continue reading →

Continue ReadingTrouble on U.S. farms as growers seek workers and crops rot

Veterinary School the Latest Bad Deal in Higher Ed

"When I was in college, the conventional wisdom among students was that veterinary school was even harder to get into than medical school. Presumably this was because there were fewer veterinary schools than there are medical schools. I don't know if that's even true, but that's what we thought, and it was therefore assumed that veterinary grads were rare and that vets would always make a good living. No one even mentioned, back then, the massive debt loads that could be involved. Well, it turns out that demand for vets is falling, and that many vets nevertheless have six-figure debt loads while the starting salary is down to $45,500." Continue reading →

Continue ReadingVeterinary School the Latest Bad Deal in Higher Ed

For Price Of Iraq War, US Could Power Half Country With Renewables

"Today, wind analyst Paul Gipe asks, how much renewable energy could we have gotten from what we spent on the Iraq War? The total cost of the Iraq War, including future costs to care for veterans, is $2.2 trillion. If we include the interest we have to pay on the debt we used to finance the war, that figure rises to $3.9 trillion by 2053." Continue reading →

Continue ReadingFor Price Of Iraq War, US Could Power Half Country With Renewables