News Commentary

Investors (Suckers) Say They Have Things Under Control

"Today, 56% say they are confident about the future. This means that 44% aren’t confident. Today, 42% say they have increased their tax-deferred retirement savings. This means that 58% haven’t. Today, 55% say they are better prepared for retirement than in 2007. This means that 45% don’t think they are. Today, 42% have increased the size of their emergency fund. This means that 58% haven’t. We are asked to believe that people’s personal savings rate is up since November 2007, the month before the recession is said to have begun. Yes, it is — by a percentage so tiny that it is barely visible." Continue reading →

Continue ReadingInvestors (Suckers) Say They Have Things Under Control

Wind farms are a breach of human rights says UN. No, really.

"Plans for future wind farms in Britain could be in jeopardy after a United Nations legal tribunal ruled that the UK Government acted illegally by denying the public decision-making powers over their approval and the 'necessary information' over their benefits or adverse effects. The new ruling calls into question the legal validity of any further planning consent for all future wind-farm developments based on current policy, both onshore and offshore. The commission declared that the UK flouted Article 7 of the Aarhus Convention, which requires full and effective public participation on all environmental issues and demands that citizens are given the right to participate in the process." Continue reading →

Continue ReadingWind farms are a breach of human rights says UN. No, really.

Obama Calls Income Gap ‘Wrong’ — After Widening It

"The Census Bureau's official measure of income inequality — called the Gini index — shows similar results. During the Bush years, the index was flat overall — finishing in 2008 exactly where it started in 2001. It's gone up each year since Obama has been president and now stands at all-time highs. It's worth underscoring that the growing income gap under Obama isn't the result of the rich getting fabulously richer. Nor is it any sort of indictment of 'trickle down' economics. Instead, it is the direct result of Obama's historically weak economic recovery, which has left the rest of the country falling behind while the wealthy have managed to make gains." Continue reading →

Continue ReadingObama Calls Income Gap ‘Wrong’ — After Widening It

Jeffrey Tucker: How to Fake a Fast Food Strike

"There’s every indication that people outside the restaurants protesting didn’t actually work for the place they were protesting. It was a classic 'rent-a-mob' situation, and the rent was being paid by political activists whose agenda has nothing to do with helping the average burger flipper. These were mostly media stunts cooked up by the Service Employees International Union, which bused in these so-called workers as a fulfillment of a little charade and subsequent media blitz. The SEIU coordinates these protests with various professional worker groups and in conjunction with the press to make the biggest possible splash." Continue reading →

Continue ReadingJeffrey Tucker: How to Fake a Fast Food Strike

Can We Pay a Minimum Wage That Makes Everyone Rich?

"More people -- an increase in the supply of labor -- want to work at McDonald’s at a rate of $15 an hour than $7.25. That leads to an influx of workers into the labor force and higher unemployment as new entrants fail to find a job. The road to a higher-paying job goes through education, training for the jobs of tomorrow, and incentives such as the earned income tax credit, not through the imposition of a floor on wages. So the next time someone tells you that the U.S. needs to raise the minimum wage to $15 an hour, ask him what’s so special about $15. Why not raise it to $50, or $100, and make everyone rich?" Continue reading →

Continue ReadingCan We Pay a Minimum Wage That Makes Everyone Rich?

When It Comes To Healthcare, Paul Krugman Is Wrong 100% Of The Time

"In a recent New York Times column Krugman pronounced Obamacare a success before it has even been tried. Why? Because the premiums to be charged in California health insurance exchange are apparently lower than what the experts thought they would be. Aah… let’s see… Everybody thought health insurance premiums would be 100% higher. In fact, they are only 60% higher… Hooray… Break out the champagne! I’ll come back to these price comparisons in a minute. For the moment, I would ask: What kind of an economist would celebrate an expected price decline without asking what happened to quantity or quality? This is an Econ 101 mistake." Continue reading →

Continue ReadingWhen It Comes To Healthcare, Paul Krugman Is Wrong 100% Of The Time

Bill Bonner: Empire of Debt

"Everywhere you look the scene is the same. The insiders are taking more and more wealth from the outsiders. Everyone wants to be an insider. And in a democracy especially, over time, more and more people find ways to game the system and join the insiders. Finally, everyone seems to have an angle. And soon civilization is on the road to decline and ruin. This happens when there are more parasites than producers… and more voters with their hands in the cookie jar than there are people making cookies!" Continue reading →

Continue ReadingBill Bonner: Empire of Debt

Bill Bonner: Empire of Debt

"Everywhere you look the scene is the same. The insiders are taking more and more wealth from the outsiders. Everyone wants to be an insider. And in a democracy especially, over time, more and more people find ways to game the system and join the insiders. Finally, everyone seems to have an angle. And soon civilization is on the road to decline and ruin. This happens when there are more parasites than producers… and more voters with their hands in the cookie jar than there are people making cookies!" Continue reading →

Continue ReadingBill Bonner: Empire of Debt

Justin Raimondo: The Lies Behind This War

"This government lies about everything – James 'least untruthful' Clapper is the poster boy for the distinct style this gang has brought to the White House. Kerry is fast catching up to him, however, as the whoppers come thick and fast. These folks are no different from their neocon predecessors – except that the neocons were better liars. The lies they told were bigger, more imaginative, and far more elaborate, although the Obamaites are doing some pretty quick catching up. Perhaps the administration ought to call in veterans of the Bush regime’s old Office of Special Plans for some pointers. I hear Doug Feith is looking for a new gig." Continue reading →

Continue ReadingJustin Raimondo: The Lies Behind This War

Why I think the NSA is lying

"It’s IMPOSSIBLE for the NSA to have cracked everything. And my assessment is that this is an intimidation campaign. The NSA wants people to think that they have this capability. And if everyone thinks that the NSA is Big Brother’s Big Brother, all-seeing and all-knowing, then not only will everyone be terrified, but everyone will simply stop using encryption. After all, why bother going through the hassle of encrypting/decrypting if the NSA can still read the contents of your email? It’s in the NSA’s interest for people to think that the agency is almighty. I don’t buy it. These people are seriously vile. But they don’t have superpowers." Continue reading →

Continue ReadingWhy I think the NSA is lying